In the following interview, Eric Lee of Equity Real Estate divulges his top tips for time management, motivation, and more.
Eric Lee
Principal Broker
Equity Real Estate
Salt Lake City, Utah
Region served: Utah
Years in real estate: 12
Number of offices: 15
Number of agents: 1,900
Most successful marketing practice: Every Friday, I provide sellers with a report that includes links to all the websites where we’re marketing their home. Clients love these reports and they give the impression that we haven’t left any stone unturned.
Most effective way to motivate agents: Some agents thrive on competition or recognition within the office. Others are more successful as part of a team, so putting them together with someone else is helpful.
When it comes to recruiting, what strategies are most effective?
Recruiting takes on various forms, depending on how long you’ve been in a managerial position. For example, managers who are just getting started have to rely on their personal reputation, marketing themselves to recruits. As your role evolves to be more service-oriented, agents are relying on you. This may be the most difficult position because you have to focus on both recruiting and putting out fires. Once your office is big enough to support itself, your agents should be networking for you and bringing in good referrals.
What is your best time management tip?
Treat your work like a business. This begins with analyzing your day and what hours you’re willing/able to work. I make sure my agents and clients know that I only take calls between 9 a.m. – 6 p.m. and that I’m off on Sundays. While my weekly hours dropped from 80 to 50 due to this decision, my business has grown 50 percent and my client service surveys have gone up.
What are your best strategies for working through a volatile market?
In a volatile market, we should be out there talking to and serving people—not behind our desks working on presentations. No matter what the market’s doing, when you speak with prospective buyers and sellers, take notes so that you can follow-up. Not only does this show that you’re actively listening, it’ll also go a long way toward providing a better level of service.
Is there some initiative at your office that is helping keep your company top of mind with prospective clients, existing clients and the communities you serve?
We send out a survey to every client, offering them a $10 gift card just for filling it out. On a more personal level, our team members are working with their local boards of REALTORS®, so every agent has the opportunity to get involved, whether it’s through Habitat for Humanity or cleaning up litter in their neighborhood.
For more information, visit http://www.equity-usa.com/.
