Just recently my staff and I completed the analysis of an online lead conversion pilot program for a major franchise. The results were not pretty.

The companies and agents who participated were tasked with two things: 1) use my Critical First Response email script for every new online lead, and 2) keep track of the results. That is all they had to do. The purpose of the pilot was to measure the efficacy of this email script. What ended up being measured, however was far more telling.

Of the 48 companies and 832 agents that participated, only 29 and 410 respectively actually completed the six month pilot program. Within the first two weeks we already started hearing that the agents wanted “something more”. This is the “bright, shiny object” phenomenon we actually predicted would occur. Not content with just applying a very simple fundamental principle, they wanted “more”. While some brokers insisted that their sales associates were following the protocols, my surreptitious ghost shopping showed otherwise. In the end the reported data was so poor due to not following very clear and simple rules, that the original intent of the pilot program, testing the email script, was hopelessly lost.  This is not a reflection of just this particular franchise, instead this kind of behavior is endemic throughout much of our industry and says a great deal.

Starting at the highest level, the National Association of REALTORS, it says that its stated goal of member professionalism and unspoken strategy of boosting membership numbers are incompatible. Like any other service industry, you can have quality or quantity, but you can’t have both. At the franchise and broker levels, the current business models also reward quantity over quality. Both look to generate substantial revenue streams for providing membership services whether or not high levels of performance and professionalism are maintained.

How can you possibly maintain consistent and high levels of professionalism in an industry with such low barriers to entry, where many (if not most) do not work full time, and accountability is rarely defined or enforced? Clearly the answer is, you can’t.

There is an answer however, and it starts with a vision and commitment to professionalism and dedicated leadership to see it through. Another component that is absolutely crucial is accountability. If I were to start a real estate company today, this is how I’d work with my sales associates:

1. Specialization – get each and every one to commit to a speciality that will enable them to stand out head and shoulders from the competition (less than 2% specialize currently).
2. Vision – have each one write down what they want from their business in terms of personal fulfillment and lifestyle over the next 2, 5 and 10 years.
3. Exit Strategy – have each one clearly define how they will retire from the business in a way that leaves them financially independent.
4. Accountability – structure a written accountability agreement that defines minimum standards, methods of measuring progress and consequences (that have real teeth) in the event they fail to be accountable. By the way, this kind of accountability goes for both the sales associates and management.

Would a company structured like this grow very quickly? Probably not in the beginning. However, my many years of coaching tell me there are people who would absolutely flourish in this kind of environment. All they are waiting for is the right kind of leadership to show them the way.