The document proposes implementing a reward system to incentivize real estate agents to participate in continuing education. It notes that while state requirements are minimal, ongoing learning is important for success. Statistics show many agents work part-time with varying education levels. A reward system could offer points for meeting goals and link rewards directly to business results. This would create more knowledgeable agents, increased sales, lower turnover and recruit stronger candidates. Risks include financial costs and ensuring proper implementation and management of the new system.

1. Proposal to Increase
Real Estate Professionals
Participation in Continuing Education
“Knowledge is Power”
Alex Antonakos, REALTOR ®
GEB3212 – Business Communication
Alex.Antonakos@kw.com

2. The Real Estate Profession requires constant learning and participation in
educational courses to avoid potential costly mistakes and to be a
successful Realtor ®. The minimum requirements created by the state of
Florida are simply not enough to correctly do your job.
HOW DO WE GET REAL ESTATE AGENTS TO LEARN WHEN IT’S NOT
REQUIRED?
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3. It is not an unknown fact that there are many REALTORS® who only work
part time in the profession. Continuing their education and knowledge
is vital to the success and well being of their clients and all parties
involved in a transaction.
STATISTICS:
Real estate experience of all REALTORS® (median): 13 years
REALTORS® by gender: Male 43%; Female 57%
Formal education of REALTORS®:
Some college: 30%
• Associate degree: 11%
• Bachelor's degree: 30%
• High school graduate: 9%
Graduate degree and above: 13%
• Some graduate school: 8%
•
•
Source: National Association of Realtors®, 2014
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4. Internal
Broker
Real Estate Agent
Team Leader
STAKEHOLDERS
Client
Home Inspector
Lender
External
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5. The Florida Department of Business and Professional Regulation & The
Florida Real Estate Commission are empowered to set the
requirements for pre and post licensees education.
FREE TRAINING!!!
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6. Real Estate Agents are paid based on their service and are hired for their
knowledge and expertise. If they can work more efficiently they can
also increase their sales.
Source: National Association of Realtors® - Field Guide to Working with FSBOs
Almost 30% of Homeowners feel they can do the job of a Real Estate
Agent. Acquiring skills and techniques that can’t be taught online
make your position more valuable and less replaceable.
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7. Requirements
•63-Hour Pre License Course
•State Exam
•45 Hour Post License Course
•14-Hours of Continuing Education (24 months)
Office Education & Training
•22 Courses This Month
•Average Attendance <12%
•26% of our agents capped in 2013
March 2014 Office Calendar
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8. “The 5 Key Success Factors of Business”
1. Managing and Developing People
2. Strategic Focus
3. Operations
4. Physical Resources
5. Customer Relations
Source: Total Success Center. “Key Success Factors.”
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9. Reward System
Mandatory Trainings
VS
What Our Agents are Saying!
Name
Dallas
Coffield
William
Kopp
Cary Hicks
Randy
Clunn
Experience
(Yrs)
Position
Contact Info
Team Leader/KWTC
813.546.0446
25+
Agent/KWTC
727.235.2386
2
Agent/Owner/KWTC
813.299.2047
6
Agent/KWTC
813.865.0700
10
Feedback
Reward System is a great idea
Reward System great for new
agents
Concerns about costs of reward
system and ROI
Reward System will build a team
of strong agents
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10. IMPLEMENT A REWARD SYSTEM
•Simple & Direct
•Performance Reviews
•Separate Compensation
•Visible Results
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11. •More Knowledgeable and Experienced Agents
•More Sales – More Profits
•Less Agent Turnover
•Less Association Fines
•Stronger and Additional Recruits
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12. •Financial Risk
•Behavioral Risk
•Implementation Risk
•Management Risk
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13. CREATE & IMPLEMENT A
REWARD SYSTEM
Steps for Implementation
1.System Based on Points
2.Goals MUST be Met
3.Rewards have DIRECT Correlation to Business
4.Proactive Reviews of System
5.Courses Updated
6.Visible Results & Leader board
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14. Christie, Les. (2013). CNN Money. For Sale By Owner: Homeowners Ditching Brokers.
Retrieved from http://money.cnn.com/2013/10/11/real_estate/for-sale-byowner/
National Association of Realtors®. (2014). Field Guide to Working With FSBOs. Retrieved
from http://www.realtor.org/field-guides/field-guide-to-working-with-fsbos
National Association of Realtors®. (2014). Realtor Statistics. Retrieved from
http://www.realtor.org/field-guides/field-guide-to-quick-real-estate-statistics
Total Success Center. (2014). Key Success Factors. Referenced from The 5 Key Success
Factors. Retrieved from http://totalsuccesscenter.com/business-success/key-successfactors/
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15. Please feel free to contact me
with any questions.
Alex Antonakos
Real Estate Professional
Keller Williams Tampa Central
813.428.1907
Alex.Antonakos@kw.com
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