Insufficient agent training and support are partly to blame for the attrition rate in real estate, says April Harrington, broker-owner at EXIT Real Estate Experts in Old Hickory, Tenn. That’s why it’s essential to finetune your educational offerings. Along with differentiating your brokerage, top notch training will facilitate your agents’—and firm’s—success. Here’s the lowdown on what, when and how to teach your team.
What to teach
Sure, your agents learned the basics while getting their real estate license, but their training really doesn’t begin until their in the field. Along with the obvious—helping them navigate challenges like difficult negotiations, contracts and fair housing regulations—here’s the type of content to provide to help them further their careers.
Develop a general curriculum
To help agents hit the ground running, EXIT Real Estate Experts offers a four-week “Masters” program on a quarterly basis. A “bridge between real estate school and the practical application of this job,” as Harrington describes it, the program consists of about 10 real-time Zoom and in-person classes. Topics include everything from business planning, time-blocking and taxes to working with buyers and sellers—things all agents need to know to succeed in the business.
Continually update materials
Each time they’re about to run the program, Harrington and her broker colleagues review and update the materials. “There are always new ideas and rule changes,” she says. “The program evolves with us.” Along with tweaking lessons, they take turns teaching specific classes, since each of them offers a different perspective on the material. “If you took my buyers class last time, my managing broker might teach it this time,” she says. As a result, many of her agents repeat the program several times, because the refreshed content adds valuable context for them.
Give agents what they want
Agents want to learn about more than buying and selling residential real estate, says Harrington. To help them expand their knowledge, EXIT Real Estate Experts offers monthly courses on topics like property management and investment properties. They also offer ongoing courses that evolve with technology, helping agents manage their CRM, social media and more. An in-person tech meet-up, gives agents the opportunity to bring their devices and ask questions.
What agents don’t want is to be overloaded with information before they need it, points out Tali Berzak, an associate broker with The Berzak Metcalf Team at Compass in New York, NY. That’s why she waits for the appropriate moment in an agent’s career before teaching them skills like assembling a package for a condo or co-op board.
Train the whole person
“Don’t just focus on what an agent needs—they’re a whole human,” says Harrington. To round out its educational offerings, EXIT Real Estate Experts offers a “Pivot Your Mindset” class monthly. Instead of focusing on real estate, these sessions center around “how to live in abundance and joy.” Typically taught by a life coach, they explore psychological topics, such as personality profiles, affirmations and an abundance mindset.
Offer an exclusive series
Agents who’ve taken the EXIT Real Estate Experts’ “Champion” accountability series progress particularly quickly in their careers, notes Harrington. The most recent graduate reaped two buyer clients, one renter client and a listing by the end of the series. The 13-week program is offered to two agents at a time because it is so time intensive and hands-on for Harrington and her broker colleagues. Agents show interes by filling out an application.
When to Teach
As far as the ideal time of day for training, there’s no universal rule. After all, while some agents are larks, others are night owls. What’s most important is sprinkling in opportunities for learning at the right points in their careers.
Encourage advance training
Training is a great recruitment tool, and when you offer it to prospective agents, you’re not only setting them up for success, but you’re showing them you’re invested in their development.
EXIT Real Estate Experts invites agents interested in working there to complete the Masters curriculum during real estate school. As a result, they’re up to speed by their first workday. “By then, training is mostly a matter of practice and handholding,” Harrington notes.
Throw agents into the pool
Often, information won’t register with new agents until they can apply what they’ve learned, says Berzak. That’s why she prefers pushing them into the field early, rather than waiting until after a formal training is completed. “It’s much better if they come back to me with questions versus me just telling them information. The only way they’ll learn is if they do it.”
Then offer impromptu lessons on an ongoing basis
Instead of “training,” which she finds overly structured, Berzak observes her agents to see where they’re struggling. Then, while meeting with them one-on-one, she’ll offer guidance. Sometimes, she’ll provide constructive feedback. Other times, she’ll work with them to cultivate a new skill, like negotiations or presentations.
How to Teach
Your agents will differ in terms of how they learn best. So, when devising a training plan, first ask yourself which types of training you would have preferred in their position. Then combine that overall empathetic approach with what you feel would work best for each agent’s personality and goals.
Build a learning development plan for each agent
To help agents grow, work with them on individualized learning development plans in a one-on-one setting, counsels Ruth Gotian, Ed.D, chief learning officer and associate professor of education in anesthesiology at Weill Cornell Medicine. Start with where they are and where they want to go, she suggests. Then, reverse-engineer that path, determining which skills they need to learn to get there and how they’ll acquire them.
Break it up
“You can’t lecture for four hours—people need breaks,” says Gotian. She advocates teaching for about 15 minutes, then segueing to unstructured time. During this period, agents can take breaks and work on group projects to apply information. “They can learn from each other because there will be a diversity of perspectives,” she adds.
Make it convenient
“Be considerate of part- and full-time agents, urges Harrington. It’s also important to acknowledge that not all agents will be available at the same time, and if your brokerage serves a large area, your agents are likely to be spread out. That’s why EXIT Real Estate Experts Masters classes are held on weeknights and Saturdays. Any off-site classes are conducted in centrally located areas with ample parking, and in-person sessions are catered. Schedule courses around brunch, lunch, or dinner, she suggests.
Provide info in different forms
Everyone learns and processes information differently, says Gotian. “So having one solution will not work. If you lecture, you’ll probably lose 70% of the people.” To ensure you maximize the effectiveness of your training offeringst, she suggests a mix: for instance, a lecture, online course, selection of articles, podcast and webinar. “Everyone will gravitate towards something different, so this way, there’s a higher likelihood you’ll reach people.”