When four of the most successful residential real estate professionals got together recently to discuss what agents in today’s market need to succeed, there were any number of excellent ideas, strategies and recommendations. The reality? One point hovered over all others.
There are no shortcuts.
With all that’s gone on in the industry the last few years…lawsuits, limited inventory, elevated mortgage rates and more, it’s for sure been the challenging end of the neverending high-and-low cycles that real estate sales experience.
To discuss what agents really need to succeed, four leaders came together at RISMedia’s virtual Rocking in the New Year event earlier this year. They were moderator Rei Mesa, president and CEO of Berkshire Hathaway HomeServices Florida Realty; and panelists Anthony Lamacchia, broker/owner/CEO of Lamacchia Realty, Inc.; Todd Sumney, chief industry officer of HomeSmart International; and Chip Murphy, vice president of business development at Michael Saunders & Company.
As the real estate market has experienced significant changes in recent years, the panelists shared strategies to help sales professionals succeed in the new environment. Sumney emphasized the importance of leading, inspiring, supporting and adapting to provide agents with the resources they needed to thrive. He spoke about HomeSmart’s “Thrive in ‘25” program, which focuses on filling agents with ideas, creating a one-page marketing plan, providing specialized tools, generating leads and offering coaching and support.
Murphy highlighted the value of collaboration, regular sales meetings and specialized training and education for both new and experienced agents. He believes that by fostering a strong sense of community and keeping agents up to date with industry changes, they’ll be better equipped to navigate the evolving market.
Lamacchia shared his approach of providing weekly training that covered the fundamentals of real estate sales, from lead generation to handling objections. He emphasized the importance of not just telling agents what to do, but showing them through visual aids and hands-on practice. He also discussed the accountability program he implemented, where agents were given weekly homework assignments and incentives for completing them.
Overall, the brokerage leaders emphasized the need for a multifaceted approach to supporting sales professionals, focusing on education, training, technology, collaboration and accountability. By empowering their agents and providing them with the tools and guidance they needed, the panelists aimed to position their teams for success in the new real estate landscape.
The panelists agreed on the significance of education, support and innovative approaches to thrive in the evolving market. Here are key points expressed:
Todd Sumney
- Agents need leaders to provide four things: Leading through education, training and information, inspiring and motivating, supporting transactions/providing customer service and adapting while providing technology/tools
- HomeSmart’s “Thrive in ‘25” focuses on five things: Filling agents with ideas/tactics, leveraging a one-page marketing plan, providing special tools for buyers/sellers, lead generation and coaching/collaborative events
Sumney detailed that one-page marketing plan.
“It is a very unique plan,” he said. “On one column, it has the action item, and next to that column it has the expense. Is there a dollar expense or is there a time expense? Next to that is the number of homes an agent thinks they can sell this year by doing this type of marketing. You take that and multiply it by the average number or the average compensation, and it builds out a plan where they can see their ROI on certain types of marketing. You break it down into what you’re going to do every day. And if I do this every day, times five days a week, times four weeks a month, this is the type of result you will get.
Chip Murphy
- Providing agents opportunities to collaborate, share ideas and brainstorm
- Doubling down on training and education, including a six-week intensive program for new agents
- Focusing on timely, relevant training that pays attention to changes in the industry
Murphy talked about how vital it is for agents to differentiate themselves from the pack.
“Dare to be different, and take risks,” he said. “We’re in an industry that tends to have a reputation for being somewhat antiquated, and there’s some accuracy to that. I would change that. Our founder and president looked at the talent out there and thought there was a lot of regurgitated talent. What they’ve done exceptionally well is assemble a leadership team with different backgrounds, fresh perspectives and new ideas. So I think there’s a lot to be said for that, for taking risks and trying something new and assembling a team that’s well balanced from a strengths and weaknesses perspective, with different ideas.
Anthony Lamacchia
- Providing weekly three-hour training sessions covering forms, scripts and tactics
- Using visual aids and data to show agents how to effectively present information to clients
- Empowering leaders to reinforce the weekly training in their local office meetings
- Creating accountability through weekly homework assignments with incentives
Lamacchia showcased specifics of the weekly training he insisted is crucial.
“We go really deep on step by step of what to do, what to say and when to say it, and we also provide them with the materials they will use given the timeframe,” he said. “You don’t just tell a client something. You have to show them. People don’t believe what they hear, they believe what they see, they believe what they experience. We give materials to the agents in many cases because we have to make it easy on them. It has to be easy for them to take the information and redistribute it to the clients, so we provide the materials, we go over those things, we explain how to explain it, and we explain the why behind it.
