influencing agent activity levels - real estate investment ......agents drivers/ anticipate...
TRANSCRIPT
![Page 1: Influencing Agent Activity Levels - Real Estate Investment ......agents drivers/ anticipate potential hang-ups Structure activity groups strategically Manage agents uniquely (situational](https://reader034.vdocument.in/reader034/viewer/2022052009/601f5c3cd539957f52208efc/html5/thumbnails/1.jpg)
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Leadership ConferenceMarch 20, 2017
Tony Solomon, First Vice President, West LA
Josh Caruana, Vice President – Indianapolis
Influencing Agent Activity Levels
![Page 2: Influencing Agent Activity Levels - Real Estate Investment ......agents drivers/ anticipate potential hang-ups Structure activity groups strategically Manage agents uniquely (situational](https://reader034.vdocument.in/reader034/viewer/2022052009/601f5c3cd539957f52208efc/html5/thumbnails/2.jpg)
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Leadership ConferenceMarch 20, 2017
Influencing Agent Activity Levels
Josh CaruanaVice President / Regional Manager
Indianapolis
Tony SolomonFirst Vice President / Regional Manager
West Los Angeles
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Influencing Junior Agent ActivityCreating a Pace Setter Culture
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
What Will Be Covered
1. Revenue impact
2. Regional manager leadership in the process
3. Blueprint for Pace Setter achievement
4. Tips on raising the probability of success
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Stats | Revenue Impact
In the past 24 months, the Indianapolis office has
developed 7 Pacesetters who are responsible for
generating over $3.1 million in gross closed
commissions to the office.
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Establishing a Pace Setter Culture
Indy office lacked activity/
proposal culture
Legacy issues impacted ability to effectuate change
Lack of senior leadership to draw from/
point to
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
RM Leadership / Conviction
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Managing Agent Expectations
1. Interview Process• Setting the stage
• Layer goal of Pace Setter in every interaction
• Point to past success
2. RM Provides Blueprint for Success• Planning, execution, workload
• Expectations
• Fundamentals
3. Senior Agent Alignment/Junior Agent Commitment• Consistent messaging
• Upholding standards
4. Leading Through the Process/Speaking to Objections• Consistent reinforcement
• Incentives
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Raising the Probability of Success
Raising the Probability of
Success
Recruit the right talent
Recruit in a tranche
(competition, camaraderie, commitment)
Must have agent
commitment/ buy-inKnow the
agents drivers/
anticipate potential hang-ups
Structure activity groups
strategically
Manage agents
uniquely (situational leadership)
(E.g. 2 EC)
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Influencing Senior Agent ActivityEstablishing a Business Partner Mindset
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
What Will Be Covered
1. Evolving RM role from manager to leader
2. Agent profile/plan as a foundation to senior agent drivers
3. Tactics and techniques for influencing senior agents
![Page 12: Influencing Agent Activity Levels - Real Estate Investment ......agents drivers/ anticipate potential hang-ups Structure activity groups strategically Manage agents uniquely (situational](https://reader034.vdocument.in/reader034/viewer/2022052009/601f5c3cd539957f52208efc/html5/thumbnails/12.jpg)
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
A Successful Office Culture
Junior
Senior
PUSH PULL
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Evolving RM Roles
Junior Agent
Junior/Senior Associate
Vice President+
Teacher
Coach
Business Partner
TrustCredibilityRespect
0 48+ months
Relationship Over Time
24 months 36 months
Car
eer
Gro
wth
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Evolution from Manager to Leader
Manager Leader
Procedure, roles, responsibilities
Official authority
Focused on numerical targets
Control of people/supervision
Requires action without justification
Implements directives and instructions
Communicates without passion/aloof
Talks in terms of aspirations/needs
Acts as a business partner
Helps establish vision and strategy
Passionate, inspirational
Builds trust/confidence
Promotes growth of team members
Stimulates collaboration towards finding solutions
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Leader’s Understanding of Senior Agent
Agent Profile/2017 Plan
Autonomy/Mastery/PurposeObstacles/Situation
WhereWho
WhyWhat
How
Tool Box
Agent
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Influence in Action
Retaining Neema Ahadian- Career Curve: Moderate Growth/Highly
Motivated/Skilled- Obstacle: No Vision for Growth
2010: $231,710
2016: $1,460,128
Forming Ringer-Benson Team- Career Curve: Pulling Back/Not Engaged/Skilled- Obstacle: Lack of Confidence
Strategic Consulting for Tony Azzi- Career Curve: High Growth/Highly Engaged/Skilled- Obstacle: Transaction Management/Infrastructure
2010: $501,975
2016: $1,520,164
2010: $955,488
2016: $6,369,514
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Breakout Sessions: Tools, Tactics & Techniques
Strategic Consulting Vision/mission statement What do you need to get there? What do you need to do to get there?
Marketing Marketing strategy/branding Content development Campaign execution PR/social media
Human Resources Team architecture Recruiting/hiring/training Providing access to on-call staff as needed:
BAs, MCs, ASTs
Infrastructure MM platform/inventory MMCC Research Specialty/Division Technology
Business Coaching Strategies to re-engage in good habits: power
sessions, check-ins Re-connecting with past successes: workshops,
deal story sessions, calling on past proposals Celebrating small victories through micro
incentives and contests
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Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
Leadership ConferenceMarch 20, 2017
Tony Solomon, First Vice President, West LA
Josh Caruana, Vice President – Indianapolis
Influencing Agent Activity Levels