A smooth onboarding process for new real estate agents sets them up for success and brings numerous benefits to the brokerage. By providing the necessary documents, comprehensive training, and ongoing support, brokerages can ensure a seamless transition for new agents and foster a positive and productive work environment. Ready to learn how to streamline the new hire process for your real estate agents? Let’s dive into the essential steps of a real estate agent onboarding checklist.
- Essential documents and setup for new agents create a professional atmosphere.
- Comprehensive training programs equip real estate agents with the knowledge and skills to excel.
- Brokerages should provide mentorship, shadowing opportunities, a networking support system, a customizable onboarding checklist & regular assessments of progress for a successful onboarding process.
Essential Documents and Setup for New AgentsStarting a new job can be overwhelming, especially when agents are expected to hit the ground running. Streamlining the onboarding process requires having all necessary documents, licenses, and materials ready for new agents. This includes:
- An agent employee folder
- Contact information
- W-9 and other employment documents
- Current and up-to-date licenses
Comprehensive Training ProgramRegardless of prior experience, new real estate agents benefit greatly from a well-rounded training program. Through onboarding, they should obtain all the necessary knowledge to perform their job proficiently, understand where to access information when required, and feel backed by the company. This includes training on the brokerage’s Customer Relationship Management (CRM) system, marketing platforms, and listing and buyer presentations. By offering a comprehensive training program covering all aspects of the real estate business, brokerages can ensure that new agents are equipped to excel in their roles. The training program should incorporate asynchronous and synchronous learning to cater to different learning styles and preferences. This allows new agents to understand the business and its various aspects, from office procedures to negotiation skills. The discussion will include in-house training courses, online courses and resources, and mentorship and shadowing opportunities, all supported by relevant training materials.
In-House Training CoursesIn-house training courses are invaluable for new, real estate professionals and agents, providing them with hands-on experience and direct access to the company’s systems, programs, tools, and real estate-related topics. Let’s make one called “Crush It Basics” as an example of a course idea. This course spans three weeks and convenes agents twice weekly for training sessions. This comprehensive course covers a wide range of topics, such as:
- Offer writing
Online Courses and ResourcesOnline courses and resources play a significant role in the professional development of real estate agents. They offer flexibility, cost-effectiveness, and the ability to quickly complete courses, providing agents with specialized knowledge to remain competitive. For new agents, we suggest considering the following online platforms for real estate education:
- Kaplan Real Estate Education
- The CE Shop
- Colibri Real Estate
- Cooke Real Estate School
Mentorship and Shadowing OpportunitiesMentorship and shadowing opportunities are integral to a successful recruiting and onboarding process for new real estate agents. By pairing new agents with experienced agents who have a proven track record, they can observe and shadow their mentors as they complete daily tasks, such as:
- Interacting with clients
- Exhibiting properties
- Negotiating deals
- Managing paperwork
- Continuous training
- Development opportunities
Building a Strong Online Presence for New Agents
- Keeping their website up to date with their most recent information and company details
- Updating their Facebook page, LinkedIn, Instagram, and other social media platforms regularly
- Showcasing their affiliation with the brokerage and building trust with potential clients
Helping New Hires Understand Commission Structure and BenefitsNew real estate agents must understand the brokerage’s commission structure, benefits, and unique offerings. A clear explanation of these financial aspects ensures that agents comprehensively understand their new role and can make informed decisions about their career trajectory. Brokerages with a split commission typically offer benefits such as MLS access, insurance, and marketing materials. The typical brokerage commission rate in the U.S. falls within the range of 2% to 3%.
Networking and Support SystemFor the success of new real estate agents, a robust network and support system within a brokerage is pivotal. This includes:
- Transaction coordinators who can significantly facilitate an agent’s workflow by providing administrative assistance
- Organizing transactions
- Facilitating communication
- Aiding in the escrow process
- Offering support and guidance
- Sales assistants
- Escrow officers
- Title representatives
- Home inspectors
- Transaction coordinators
Customizable Onboarding ChecklistA customizable onboarding checklist significantly streamlines the onboarding process for new real estate agents. This structured and customized process for training and integration into the brokerage assists agents in completing essential paperwork, provides a roadmap to follow, and allows for personalization based on the distinct requirements of the brokerage.
- Introduction and Welcome
- Company Overview
- Job Responsibilities
- Training and Development
- Policies and Procedures
- Technology Setup
- Marketing and Lead Generation
- Team Collaboration
- Performance Expectations
- Ongoing Support
Monitoring Progress and AdjustmentsRegular assessments of new agents’ progress during their initial 90 days are critical to their success within the brokerage. This includes monitoring key performance metrics such as:
- Appointment to listing conversion rate
- Controllable operating expenses
- Customer satisfaction
- Sales volume and revenue
- Conversion rate and lead generation
- Professional development and learning
- Listings secured
- Properties sold
- Commission earned
- Identify areas of improvement
- Provide targeted support to help agents excel in their roles
- Evaluate if the fit is suitable for both the agent and the brokerage
Using Brokerkit To Improve OnboardingBrokerkit’s platform seamlessly integrates various aspects of the onboarding process, making it a far more automated solution for brokers. The software’s capabilities include:
- Automated Communication: Brokerkit ensures that all onboarding communications, from welcome emails to essential document reminders, are automatic and personalized. This provides new agents with a consistent and engaging onboarding experience.
- Retention Campaigns: Brokerkit goes beyond onboarding, offering retention campaigns vital for keeping agents engaged and motivated. From celebrating first closings to acknowledging annual achievements, these automated campaigns help build a supportive and appreciative culture within the brokerage.
- Feedback and Assessment Integration: Brokerkit’s platform allows for the integration of regular assessments and feedback mechanisms. This helps brokers monitor the progress of new agents and provide timely support or adjustments to their onboarding plan.