| April 12, 2004 |
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Lack of value is the primary reason an agent flies out the door. With little or no value all they know to ask for is money, that's all they perceive in the relationship. If it's not about the splits, why do agents ask? Value. Last time you bought an airline ticket what did you look for? Sure a nonstop would be nice, but today it's about "peanuts" and "price". Why is this? When there's little or no value, all that can be offered to the consumer is price. Wouldn't it be great if agents were satisfied with "coffee" and a "great split"? Take a look at your recruiting interview and then your value delivery in the relationship. Surprisingly, you find the recruiting interview will come back into play in the "exit interview". Wrapped around this is the safety valve that you can have in place in the form of standards and agreements. Let's start with your interview. Many interviews take on the face of a sales presentation. Typical mistakes are not asking enough questions about the recruit and exaggerating your company's features while failing to articulate the benefits. Don't sell in the interview. So what can you do differently? Here are some suggestions:
Now deliver value.
This is the solution to "I want a higher split". Interview by asking VS. selling, hire based on value VS. money and deliver as "The Coach" for your agents. Is that the cure all? No, but fill the gaps by doing your primary job of prospecting, interviewing and hiring agents. If you put these steps into action the next time someone else asks for a higher split you will operate from a position of strength vs. vulnerability. Agents don't leave because they get offered a better deal, they leave because they are no longer getting what they expect from you. Remember, if an agent asks for a higher split, stand your ground and go back to the "mutual agreement" they signed when joining your office. It's rather interesting, agents want you to keep your agreements but we find at times theirs are negotiable. Last time I checked, agents talk to each other and if you give one a "higher split" your agents will love you for the wrong reason. Standards have been broken down and you have given life to the commission split virus. The next agent in line has been granted permission to ask for a "higher split". Now what are you going to do? |
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