Hit them where it hurts! Their mind and their wallet!
Too many agents are focused on their splits. These agents need to worry about how much they will make rather than negotiating an extra few percentage points.
When recruiting an agent, if they ever ask about what your split is, I tell them that I’m not really worried about that right now, we can always make money work. I’m more concerned if I’m a fit for you and if you are a fit for our company.
That usually puts the agent at ease, and it gives you time to articulate your company’s value proposition. If they still ask you what your splits are, I ask them if they’d rather have 98% of Dwight’s Beet Farm in “Anywhere, USA” or 1% of Facebook? Most people would take that 1%...why? It’s all about the overall value:
- Smooth transition over to your company
- Broker support
- Business planning
- Leads (if applicable)
- Company growth trajectory
- Awards (if applicable)
- Competitive split (don’t give away the farm)
The split should be the LAST thing you discuss. They need to understand the value of your company and the value of YOU! People buy people before they buy any products.
Before you ever talk about the split, I would ask these questions so the agent realizes what they may be missing:
- Do you have a business plan?
- Does your broker hold you accountable?
- Are you making you feel what you deserve?
By touching on their “pain points,” it makes them realize what they don’t have. By articulating your overall value proposition before the split conversation happens, you will have an easier time having your prospects understand their overall compensation and value of your company.
Written by Adam Lerman, Vice President of Business and Broker Development has 20+ years in recruiting and training within the real estate industry. Adam has led the recruiting and training initiatives in multiple large franchises and large independents. Most recently, Adam is the VP of Broker and Business Development with Sherri Johnson Coaching.Posted by Sherri Johnson Administrator on