If you're a brokerage owner or team leader, I want to talk to you about something that's kind of outside the box—and that is what we call “adoption rates.”
What's adoption? Adoption means you bring in technology, a system, a tool, or maybe a training program into the company, and you watch as only 20% of the people utilize it—and 80% do not.
That's the rule of thumb: The 80/20 rule.
So you start to wonder why the heck you would bring anything into this company? You feel tempted to cut everything: the technology they’re not using, the training, the mentorship program—this, that, and the other.
Well, remember there's also an 80/20 rule in production too:
20% of the people are doing 80% of the production.
So when you cut these things, you might actually be hurting the people who are supporting the company the most.
But I want you to rethink the 80/20 rule for a second.
When we measure whether we should cut, keep, or add something to the company, don’t just look at whether people a...
Here's a question for you: When you're working with a buyer for the first time, do you have a pre-buy meeting checklist?
If not, you're probably not delivering the highest level of service possible. A pre-buy meeting checklist helps you prepare to serve your clients at the highest level.
What could that checklist look like? Let me share some items on my checklist that might give you an "aha" moment to add to your own.
1. Research the Buyer
First, I research the buyer. I do a Google search to ensure there are no red flags and check their social media. This helps me gather additional information that may not have come up during our initial conversation.
I also connect with them on social media, talk to their lender to understand their financial needs, and reach out to whoever referred them. These steps help me get a comprehensive understanding of who they are.
2. Prepare the Buyer
Next, I prepare the buyer. I send them a qualifying questionnaire—just four or five questions—to help...
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