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Coaching Your Agents With the Seven Success Styles NAR 2014

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Coaching Real Estate Agents based on their personality types and different business strategies. This system accommodates changing Consumer behavior and preferences, and enables coaches to help Agents discover their own authentic and natural path to success in the real estate industry.

For more information, contact Bruce Gardner with Mastery, Inc at Bruce@BruceGardner.com or 303-908-7880.

Bruce is available for speaking opportunities, training sessions, workshops and individual and group coaching.

Published in: Real Estate
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Coaching Your Agents With the Seven Success Styles NAR 2014

  1. 1. Coaching Your Agents With The Seven Success Styles Helping Agents Find Natural And Authentic Success Bruce Gardner Mastery, Inc.
  2. 2. • Recruiting productive Agents • Improving Company culture • Improving Agent performance • Helping Agents focus Some Broker Challenges Today Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  3. 3. • 2012 NAR Agent Profile results • NAR mailed out a 72 question survey to a random sample of 58,068 REALTORS® • 4,883 Responses • Typical REALTOR® was a 57 year old female • The average reported was 12 transactions and $43,500 gross income before expenses NAR Performance Statistics Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  4. 4. Denver Agent Performance Bruce Gardner www.StrategyBox.net ©Mastery, Inc. • Research of a 12 month period, every transaction in the Denver Metro MLS (Your Castle Real Estate INC., research) • 15,000 Agents from July 2010 – June 2011: 0 Transactions: 1 Transaction: 4+ Transactions: 12+ Transactions: 25+ Transactions: 100+ Transaction: 38% 13% 33% 11% 3% .0017%
  5. 5. The Industry Advice on Success: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Knock on doors  Do Open Houses  Make Lots Of Friends  Join Groups  Collect business Cards  Specialize In Something  Get A Super Duper Website  Optimize Your SEO  Work FSBO’s, Expireds and Withdrawns  Focus on Short Sales  Write a Blog  Do Lots of Social Media  Post on Pinterest  Run Craigslist Ads  Get A Farm!  Do Marketing and Advertising  Do It All! 15
  6. 6. Coaching Your Agents With The Seven Success Styles: Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 1. Learn the “Seven Styles” 2. Learn the “DISC” Profiles 3. Evaluate Your Agents! 4. Match the Agent and their Strategy 5. Identify their Goals and Challenges 6. Design and Deploy a clear Business Plan 7. Create customized ongoing Accountability and Coaching Programs by “Style”
  7. 7. The Success Triangle Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  8. 8. Agent “Strategies” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. • Successful Agents will have a clear “Strategy”! • It’s how they generate business. • We’ve identified the “Seven Styles” of success in real estate 29
  9. 9. The “Hunter” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. They seek business aggressively They work FSBO’s, Foreclosures, Expired and Withdrawn Listings They door knock They live for the pursuit of business They don’t care about rejection
  10. 10. The “Farmer” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Farmers are “Relationship” oriented! They easily build and maintain relationships Business comes from these relationships directly and they get referrals They often don’t want to be perceived as “salespeople
  11. 11. The “Networker” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Generates business from within a group The group offers “common ground” Easily meets new people Easily identifies potential leads Is outgoing, likeable and knows how to work a room Likes to ask: “What do you do?”
  12. 12. The “Lifestyle” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Lives and promotes a specific “Lifestyle” It’s “Tribal”! Lots of social interaction Uses the Web to connect Lifestyle specific blogging can demonstrate connection and commitment to the Lifestyle Can create a successful and enjoyable career
  13. 13. The “Expert” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Focuses on some aspect of real estate A type of real estate, a type of transaction or a type of Client Becomes an “Expert” in this niche Creates a targeted “Value Proposition” for their “Ideal Client” 34
  14. 14. The “Hyperlocalist” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Works a neighborhood or a definable geographic area Becomes the “Local Expert” in the market space Has superior market knowledge Builds relationships within the community Uses Web Assets and Marketing elements to complement the strategy
  15. 15. The “Billboard” Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Uses advertising and marketing to generate leads May work online leads and have a lead gen website Has a definable “Brand” Builds a team of Agents and admin to segment the work May do hundreds of deals a year Can create a business that can be sold
  16. 16. It’s about “Matching” an Agent and their Strategy Successful Agents usually have 1 or 2 Strategies! They can focus! Everything they should do makes sense! So does everything they shouldn’t! It becomes very natural and authentic! All Of The Seven “Styles” Work! Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  17. 17. This Achieves “Alignment”! Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  18. 18. And Eliminates Distractions! Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 39
  19. 19. The “Seven Styles” Book Bruce Gardner www.StrategyBox.net ©Mastery, Inc. A Conceptual Textbook Review of The “Seven Styles” The “Success Triangle” concept Sample PowerPlans by “Style” 15 Interviews with Agents by “Style” At the NAR bookstore today for $29.95!
  20. 20. The Success Triangle Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  21. 21. “DISC” Personality Profiles Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Dominant Interpersonal Steady Conscientious You can take a “DISC” test online
  22. 22. Dominant Personalities Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Direct  Decisive  Confident  Problem Solvers  Risk Taker  Self Starter  Biggest Fears: Loss of control, Being Taken Advantage Of!
  23. 23. “D” Personality Challenges Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Can be impatient  Gets bored without a challenge  Doesn’t really care about building relationships  Doesn’t develop business with past Clients well 44
  24. 24. Interpersonal Personalities Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Enthusiastic  Optimistic  Talkative  Impulsive  Emotional  The Party People!  Biggest Fear: Rejection!
  25. 25. “I” Personality Challenges Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Not detail oriented  Don’t like working on their database, website, etc.  No systems  Poor follow up with leads that aren’t immediate
  26. 26. Steady Personalities Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Good listeners  Team players  Likes routines  Predictable  Understanding  Friendly and Reliable  Biggest Fears: Change, Loss of Stability!
  27. 27. “S” Personality Challenges Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Can be resistant to change and technology innovations  May not be very motivated to improve performance  Can be socially awkward  Meeting new people and developing leads can be a real challenge
  28. 28. Conscientious Personalities Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Accurate  Analytical  Careful  Fact-finder  Precise  High standards  Systematic  Biggest Fears: Being Wrong, Irrational Behavior! 49
  29. 29. “C” Personality Challenges Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Avoids taking risks  Everything has to be “by the book”  May not be creative  Very process oriented
  30. 30. Some Free Online DISC Tests: Bruce Gardner www.StrategyBox.net ©Mastery, Inc. www.personalitystyle.com www.tonyrobbins.com Or just Google it for some other options
  31. 31. Each Personality Type Has A Matching Set of Natural Strategy Choices! An Agent Can Choose Their Natural and Authentic “Style” of Real Estate! Matching Agent and Strategy Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 52
  32. 32. Strategies For The High “D”: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Hunter  Billboard  Farmer  Networker  Expert
  33. 33. Strategies For The High “I”: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Farmer  Networker  Lifestyle  Hyperlocalist
  34. 34. Strategies For The “S and C”: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Expert  Hyperlocalist  Billboard  Lifestyle 50
  35. 35. Laura’s Story Bruce Gardner www.StrategyBox.net ©Mastery, Inc. An Artist Urban dweller A Failed Realtor 56 An Artist Urban dweller A Successful Realtor! She Found Her “Tribe”! Built the Thriving Artist Alliance Live/Work Properties
  36. 36. • Confidentiality 1st!! • Ask lots of questions! • Seek first to understand! • Be ready to ask the really hard question! Building Your Coaching Skills: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  37. 37. • “What do you mean by that?” • “That’s interesting, tell me more.” • “If you could do anything in real estate, what would you do?” • “If you could work with anyone you wanted to in real estate, who would you work with?” • “If you did know, what would you do?” • “Are you really ready to move forward?” Some Great Coaching Questions: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  38. 38. • Evaluate each Agent’s personality traits based on the “DISC” profiles • Provide Strategic Options that match their profile • Formulate a Business Plan based on that “Style” with consistent lead generation activities • Hold regular “Accountability” meetings with each Agent to keep them on track and focused Coaching with the 7 Styles Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  39. 39. The Three Stages: – Launch – Growth – Maturity Career Stage Evaluation Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 60
  40. 40. • Launch Stage: – Discovering a Strategy, Designing and Deploying a Business plan, skills development • Growth Stage: – Skills development, consistent lead gen, Strategy development, leverage, balance • Maturity Stage: – Systems, leverage, balance, focus Career Stages and Challenges Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  41. 41. • Ask questions about things they like to do and don’t like to do • Instruct them to take a DISC test and review it with them • Evaluate their “Assets”: – SOI size and depth – Networks and Groups – Skills and talents Launch Agent Evaluation Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  42. 42. • Help them Discover their natural strategy choices • Identify their Business Plan concepts • Write a simple Business Plan with regular business building activities • Create a Skills development plan • Hold regular Accountability sessions Launch Agent Coaching: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  43. 43. • Ask questions about things they like to do and don’t like to do in their businesses • Evaluate their current Business Strategy • Evaluate their systems and leverage • Discover their “Conversion” problems • Evaluate their “Work/Life Balance” Growth Agent Evaluation Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  44. 44. • Identify specific Career Goals • Write a clear Business Plan with “Metrics” • Create a Skills development plan • Hold regular Accountability sessions Growth Agent Coaching: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  45. 45. • Evaluate their Business Goals and Business Plan • Evaluate their motivation level • Evaluate their current Business Strategy • Evaluate their systems and leverage • Discover their “Conversion” problems • Evaluate their “Work/Life Balance” Maturity Agent Evaluation Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  46. 46. • Help them re-focus on their businesses • Find their motivational “Why” • Write a clear Business Plan with “Metrics” • Help them to refine their systems, structure and leverage • Hold regular Accountability sessions Maturity Agent Coaching: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  47. 47. • Typically have specific written GCI goals • Focused lead generation time • Tracking the “numbers”: – Contacts made – Appointments set – Client “conversions” – Closings per Client, Buyer and Seller “Hunter” Strategies Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 68
  48. 48. • They must get into the “Relationship” business! • “A’s, B’s and C’s”! • Focuses on “EGM” Activities: – How can they “Establish” new relationships? – How will they “Grow” the current relationships? – How will they “Maintain” relationships? • The Two “Channels” of communications “Relational” Strategies Bruce Gardner www.StrategyBox.net ©Mastery, Inc.
  49. 49. Agent Profile: Joe DiVito Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Denver, CO  Has a total of 28,000 contacts in his database  400/4000 focus  High touch  85 transactions and over $500k GCI in 2009
  50. 50. • Identifies A Productive Market “Niche” • Does detailed granular Market Analysis • Understands their “Ideal Client” • Creates a unique “Value Proposition” • Has a website targeted on the niche • Direct and focused marketing efforts • Builds a “Team” of affiliates Expert Strategies Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 72
  51. 51. Agent Profile: Mark Wade Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  CenterCity Condos.com  A 2 mile radius  Lots of targeted web assets  Very low marketing budget  110 transactions in 2009
  52. 52. Agent Profile: Will Daly Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  WeKnowUrban.com  High rise, loft and townhome Expert  2009 = 91 Sides  2010 = 121 Sides  2011 = 190 Sides  2012 = 228 Sides  2013 = 323 Sides
  53. 53. Hyperlocal Strategies Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Builds a “Brand” as the local Expert  Has superior Market Knowledge  Masters the “Market Metrics”  Builds relationships in the community  Holds lead generating Open Houses  Has a “Hyperlocal” website
  54. 54. Agent Profile: Connie Barnes Bruce Gardner www.StrategyBox.net ©Mastery, Inc. Eldorado Hills, CA ConnieBarnes.com Has a terrific Hyperlocal focused website! Sales Volume in 2012: $48,000,000!
  55. 55. Billboard Strategies Bruce Gardner www.StrategyBox.net ©Mastery, Inc.  Massive Marketing campaigns  Media advertising  Web based lead generation  Branded services  “If we can’t sell it, we’ll buy it!”  Teams segmented by job function 77
  56. 56. Farmer – Networker Farmer – Hyperlocalist Farmer – Expert Farmer – Lifestyle Hunter – Billboard Hunter – Expert Hunter - Hyperlocalist Some Common Combos Bruce Gardner www.StrategyBox.net ©Mastery, Inc. 79
  57. 57. • Can help you recruit productive Agents • Improves your Company culture • Improves individual Agent performance • Helps your Agents focus Coaching with the Seven Styles: Bruce Gardner www.StrategyBox.net ©Mastery, Inc.

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