Sales Associate Career Planning Guide...

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Name Date

Office Anniversary

Manager

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Instructions

Use this guide to create your business P.L.A.N. for next year:

Step 1: Pull together an analysis of the sources of your closed business this year. • Go to Weichert One/Money Matters tab to get an inventory of your deals. • Pull the closed/pending files • Go to closed transaction file, Source, found on Report of List/Sales form • Record this information on page 12 under Sources of Income.

Step 2: Learn how you currently spend your time. Complete the Compensation Analysis portion of this guide – beginning on page 4.

• For each sales activity, circle the points associated with your sales activity for the current year (be honest).

• Total your points and record on page 9. • Compare your sales points with the Compensation Scale on page 10. Circle your

corresponding projected income. Step 3: Agree on an income level for the coming year. Draw a box around your goal

income on the Compensation Scale on page 10, making note of the points needed to achieve this goal.

• Fill out the Income Calculation form on page 11. See your manager to complete #2, 3, and 4 of this form

• Refer to page 12 and the Sales Activities Conversion Rate Formulas to determine the correlation between sales activities and listings/sales/revenue units.

• Refer to your Sources of income and note where your sources of income came from for the current year.

Step 4: Now, create your plan. Translate your income goal and sales activities

information into a plan. • Return to the Compensation Analysis portion of this guide. Draw a box around

the Sales Points corresponding to the sales activities you will commit to doing. • Total your points, adjust activities so they match your income goal. Use the Sales

Conversion Rate Formula (page 12) and your sources of income information to help you determine which sales activities to focus on.

• Commit to your plan for achieving this income by completing the Associate Objectives and Activities Worksheet on page 13 &14.

Review your plan with your manager, discuss activities and follow up so that you will be successful in the coming year!

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Sales Associate Compensation Analysis

Sales Activity Sales Points 1. Hours worked per week

a. 20 or less 0 b. 20 – 30 hours 2 c. 40 hours 4 d. 55+ hours 8

2. Open Houses

a. Rarely sits 0 b. Sits once per month 2 c. Sits twice per month, sending out Open House invitations, placing

the Open House sign rider at the property by Tuesday, and placing 8 directional signs at each Open House (as allowed)

4

d. Sits consistently every Sunday (or other weekday or Saturday) sending out Open House invitations, placing the Open House sign rider at the property by Tuesday, placing 8 directional signs at each Open House (as allowed) , uses personalized Open House Display Board,and follows up on people who attend

8

3. ICALL

a. Does not make calls 0 b. Occasionally makes calls with little success in generating leads 1 c. 5-10-5 calls on each listing, sale and open house 4 d. Weekly regimen includes a minimum of 100 calls per week in

addition to faithfully completing 5-10-5 calls on each listing, sale and open house, using the Key Actions* on every call

8

4. iMAIL/Neighborhood Farming (telephone and mail)

a. No iMAIL system 0 b. iMAIL on semi-annual to annual basis with irregular telephone

follow up 1

c. iMAIL on quarterly basis; minimum 500 pieces; 100% telephone follow up

2

d. iMAIL monthly and/or whenever needs to reach farm area per event basis; minimum of 1000 per month; 100% telephone follow up

4

*KEY ACTIONS: 1. Greet and Smile - (Warm, friendly, likable. Give your name.) 2. Gather contact information -(full name and phone number) 3. Ask, Listen and Learn 4. Show What You Know 5. Close

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Sales Activity Sales Points

5. Pure GOLD Client Farming a. No system for keeping in touch 0 b. Personal Contacts infrequent/non-systematic; uses Customer

Follow-up Card Program 1

c. Personal Quarterly contact – uses Customer Follow-up Card Program

4

d. Follow-up Card program Systematic regular monthly contact through DOORS/IMAIL database system; iMAIL through DOORs

8

6. Buyer Consultation Presentation

a. No buyer consultation presentation or Gold Services financial approval validation before showing houses

0

b. Sometimes does buyer consultation and referral to GSM; does not use standard presentation

1

c. Does buyer consultation presentation with most buyers; occasionally introduces buyer to GSM

2

d. Does personalized buyer consultation presentation in office with every buyer; meets with them before showing properties; introduces every buyer to GSM to validate financial worthiness and obtain pre-approval

8

7. Listing Presentation Portfolio

a. None 0 b. Generic; current resume 2 c. Generic DOORS portfolio 4 d. Completes a 2-step listing process by utilizing Getting to Know

You questionnaire and personalized DOORS portfolio specific to each seller’s property. Uses the Marketing Resource Center to customize all materials.

8

8. One Stop Shopping

a. Customer determines and/or locates their own partners to work with during entire house sale process

0

b. Recommends three separate partners/contacts; one of which is Weichert Financial Services/GSM

1

c. Refers customer to Weichert Financial Services/GSM without representation of how the partnership works

2

d. After a complete Buyer Consultation / Listing Presentation, strongly introduces Weichert Financial Services/GSM as a partner of the transaction giving the GSM a handoff after initial point of contact

4

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Sales Activity Sales Points 9. Opportunity/Floor Time

a. Does not sit 0 b. Sits on irregular basis 1 c. Sits once per week 2 d. Sits on weekly basis (average 2 times per week) –uses Key

Actions * at every contact 4

10. Marketing Materials

a. No use of any marketing material 0 b. Generic Weichert marketing materials 1 c. Mix of Personalized & Weichert materials 2 d. All materials personalized using the Marketing Resource Center

and DOORS promotional materials (laser color quality) 4

11. Laptop Computer/Smartphone (Blackberry, iPhone, iPad, Droid)

and Internet Proficiency

a. Working knowledge of computer/smartphone 0 b. Working knowledge of computer/smartphone; uses WeichertOne

dashboard 2

c. Personally owns laptop computer/smartphone; uses Marketing Resource Center or PMC, digital camera, fax, scanner

4

d. In addition to item c. above,– has personal IDX web page; uses smartphone to send/receive listings; uses MangoFax or RightFax; has fully integrated mobile network

8

12. Weichert Lead Network**

a. Is not a WLN Specialist 0 b. Is WLN Specialist, but responds to initial call/contact less than

50% of the time 2

c. Is WLN Specialist, responds 70% to initial call/contact with 8% or less conversion rate

4

d. Is WLN Specialist, responds 90% to initial contact with greater than 10% conversion rate

8

* KEY ACTIONS: 1. Greet and Smile - (Warm, friendly, likable. Give your name.) 2. Gather contact information -(full name and phone number) 3. Ask, Listen and Learn 4. Show What You Know 5. Close

**CERTIFICATION REQUIREMENTS FOR JOINING WLN

1. Manager Approval, Sign LS Agreement 2. Online Course: Succeeding with the Weichert Lead Network 3. WLN Orientation Workshop (Live classroom event)

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Sales Activity Sales Points 13. Personal Internet Marketing Strategy

a. No personal internet website; no use of social networking sites 0 b. Maintains a personal internet website, but without IDX; uses

social networking sites but not to generate leads 2

c. Maintains a personal internet website with IDX, but without any formal system in place to drive traffic to the website; uses social networking sites with no specific business strategy

4

d. Maintains a personal internet IDX website with search engine optimization to drive traffic to the website; uses social networking sites with a defined strategy for generating leads and establishing a presence as the neighborhood specialist

8

14. Weichert University/Continuing Education*

a. Does not access Weichert University or attend Continuing Education classes

0

b. Takes Weichert University courses two times/year or attends 2 Continuing Education seminars per year (including Compliance Courses)

2

c. Takes Weichert University courses once/quarter or attends 3-4 Continuing Education seminars per year (including Compliance Courses)

4

d. Takes Weichert University courses once/month or attends regular training/conducts training seminars (including Compliance Courses)

8

*See pg. 15 for complete list of Weichert University courses 15. Prospecting for New Business – FSBOs, Expireds Telephone

and Mail

a. No activities/plan to solicit new business 0 b. Irregular/unplanned monthly 2 c. Weekly solicitation of new business (10-20 contacts/week) 4 d. Daily time allocated each business day (10-20 contacts/day) 8

16. Signage

a. No signs 0 b. Generic Weichert signs only 1 c. Mix generic & Weichert/personalized signs 2 d. All personalized 4

17. Goals/Performance

a. No plan 0 b. Written annual objectives with unwritten weekly/daily plan 1 c. Written annual and monthly objectives/plan 2 d. Written annual/monthly/daily plan 4

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18. Neighborhood and Community Knowledge a. Does not keep abreast, some knowledge provided by others 0 b. Reads irregularly on own initiative; all written material provided

by others 2

c. Researches all local newspapers, maintains current reference material on civic, school, medical, governmental, recreational/sporting facilities, etc. news items

4

d. In addition to item c. above, analyzes & studies real estate statistical data and reports for all primary markets; uses Market Update to educate buyers and sellers; possesses a high degree of knowledge in this area. Attends local community events and municipal meetings that relate to local real estate values.

6

19. Calendar System/Contact Management System

a. Does not utilize 0 b. Calendar system used to plan daily activities 2 c. Calendar system plus Contact Management System to organize

files and follow up with clients and customers 4

d. Fully integrated smartphone, wireless laptop for personal management system

8

20. Inventory/Caravans

a. Does not preview, caravan or attend broker open houses 0 b. Caravans Weichert listings only 2 c. Caravans Weichert listings/some co-broker listings 3 d. Knows every active and exclusive listing in market area; caravans,

attends all broker open houses and previews active listings in market area

4

21. Sales Meetings a. Rarely attends 0 b. Attends twice per month 2 c. Attends three times per month 3 d. Attends/participates in all weekly meetings 4

22. Public Relations Newspaper Advertising (Associate Accomplishments)

a. No plan - one PR piece per year 0 b. One or two releases per year 1 c. Quarterly releases 2 d. Monthly releases 4

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23. Referral Associate Network a. No referral contacts 0 b. Irregular referral contact 1 c. Regular contact (1-2 referral associates) 2 d. Actively recruits and manages referral associates network (at least

5 active) 4

24. Client Base/Your Personal Book of Business*

a. Less than 100 0 b. 101 to 499 2 c. 500 to 999 4 d. Over 1,000 8

*The database of past customers, Sphere of Influence, Open House guests – anyone who knows who you are, what you do and how to reach you when they have a real estate need

My points: ___________________

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Sales Associate Compensation Scale

PROJECTED POINTS ANNUAL BASE INCOME* 0 – 34 Points Up to $24,999 35 – 54 Points $25,000 to $49,999 55 – 74 Points $50,000 to $69,999 75 – 104 Points $70,000 to $109,999 105 – 124 Points $110,000 to $144,999 125 + Points $145,000 & Up

* In MD, DC & VA use gross income (base times 2).

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Income Calculation Form

Name: Date:

Step Fill in:

1. My income target for next year is $

* 2. My average listing/sale price is $

* 3. My office’s average listing/sale price is $

* 4. My average base commission check is $

5. In order to earn my income target, I must have at least this many transactions (Step 1 divided by Step 4)

6. These transactions will break down into this many listings and this many sales

Listings Sales

7. 8 out of 10 listings/sales close each year. To allow for these delayed closings, fall throughs, expireds, etc., use the following calculations to determine the number of actual listings and actual sales needed to reach my income target.

# of Listings divided by .80 =

# of Sales divided by .80 =

*NOTE: See your manager for the information in steps #2, 3, and 4

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Sales Activity Conversion Rate Formulas

• 100 calls = 27 live contacts = 1 listing appointment

• 4 listing appointments = 1 listing

• 4 open houses = 1 revenue unit

• 250 iMAIL/month for 6 months = 1• listing or 1 unit

• 250 iMAIL/month for 12 months = 1 listing and 1 unit

Source of Income Exact Source # of Closed Deals

iCalls

Open Houses

Direct Mail

Personal

Past Customer

RELO

W/R Office

Referral

Just Listed/Just Sold

Newspaper

Lead Network

Opportunity Time

DOORs

Sphere/Center of Influence

Farm

Expired Listing

FSBO

Internet

Other

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Associate Objectives and Activities Worksheet (page 1)

My income target for is $

_____

(Associate Name) (Office Name) (Office Number) (Date Prepared)

PROSPECTING

ACTIVITIES

Avg. per Month

Total for Year

GOLD SERVICES

Introduce Every Buyer, Every Seller, Every Time!

Avg. per Month

Total for Year

Open Houses

ICALL GOLD Opportunities

Opportunity Time PROFESSIONAL DEVELOPMENT

Avg. per Month

Total for Year

iMAIL Attend Sales Meetings every week

FSBO Calls Caravan every week

Expired Calls Call Night every week

Sphere of Influence/Pure Gold

Complete Weichert U. courses and/or Cont. Ed.

Self-Promotion Training Session every week

Lead Network Community Activities

Listing Appointments (DOORS portfolio on every listing presentation)

One-on-One every month

Other

SALES/LISTINGS Avg. per Month

Total for Year

Number of Listings

A. Listings Sold and/or Marketed

B. Sales

Revenue Units (add A and B)

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Associate Objectives and Activities Worksheet (page 2)

Income Calculation Formula:

Total Rev. Units X Avg. Commission $ X Commission Split (i.e. 50%) _____

= Net Income $ ________

Please submit these objectives as my commitment to achieve our business plan next year. (Sales Associate’s Signature) (Manager’s Signature)

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Courses available on Weichert University (as of 11/2011)

Course Completed Y or N

Date to be Completed

Art of Negotiation Building Your Referral Business (a course for Referral Associates) Capital Properties and Estates Closing for the Price Improvement Bite-Sized Course! Conducting an Effective Open House Continuing Education Program: Federal Lead-Based Paint Disclosure Law * Converting Calls During Opportunity Time Converting FSBOs and Expireds into Your Listings Dynamic Marketing Bite-Sized Course! Educating Yourself About Federal Fair Housing * Effective Presentations (No Audio) Enhanced Open House Program Bite-Sized Course! Exclusive Listings: Increasing and Managing Inventory First Step in the Listing Process: Getting to Know You Follow Up: Converting Your Leads into Cash Follow Up: The Formula for Success Gold Series: Discover Gold Gold Series: Turn Your Listings into Gold Gold Series: Wrap the Purchase in Gold Gold Services Bite-Sized Course! Growing Your Business through Effective Time Management Internet Advertising - Promoting Yourself Online Part 2 It’s A Good Time To Buy A Home Introduction to eLearning Listing in the Luxury Market: An Introduction to Capital Properties and Estates Listing Presentation: Dialogue and Tips Listing Presentation: Effective Closing Techniques Making it Matter: Creating Value Statements Bite-Sized Course! Methods of Engaging the Clients and Customers Bite-Sized Course Microsoft Excel Microsoft Outlook Microsoft PowerPoint Microsoft Word Multiple Offer Strategies Neighborhood Specialist Bite-Sized Course Online Presence Bite-Sized Course Overcoming the Commission Objections Overcoming Common Seller Objections Preparing for a Successful Open House Pricing it Right Promoting Yourself Online - Part 1 (Social Networking) Promoting Yourself Online - Part 2 (Internet Advertising) Protecting Yourself from Common Legal Pitfalls in Real Estate* Securing the Price Improvement Strategic Pricing Bite-Sized Course Succeeding with the Weichert Lead Network (a course for Lead Specialists) Taking Better Pictures of the Home Turn Your Listings into Gold Understanding the Internet Consumer Using the Defer Technique to Keep your Presentations on Track Bite-Sized Course Weichert's Internet Marketing Strategy Weichert Listing Presentation: Dialogue and Tips Weichert Listing Presentation: Effective Closing Techniques Weichert's Unique Lead Generation System Working Effectively with the Weichert Family of Companies: Weichert Commercial Working Effectively with the Weichert Family of Companies: Weichert Referral Associates Working with Buyers: Dialogue and Tips for the Buyer Consultation Presentation Working with Internet Consumers Working with the Seller: A Step-by-Step Process Writing Ads that Sell

*Compliance Course

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INSTRUCTIONS: Based on this planning guide and compensation analysis, please respond to the following questions. Have you identified sales activities where performance was less than desired? Yes No (if yes, please explain). Describe factors which contributed to results and your plan to improve your performance.

Sales Activity Comment Are there specific company practices, programs, or tools which should be introduced or modified to improve your performance? Yes No (if yes, please explain)

Suggestions for Manager, Processing Manager and Staff support:

Development and Training Needs 1. List any skills or development areas you need to strengthen.

2. Identify assignments, training or other office roles which would better prepare you to achieve

income objectives, future promotion or reassignment.

Sales Associate: Date: Reviewed by:

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Manager Follow Up Notes

Scheduled Follow up Date: ___________________________________________ Manager’s Comments:

Suggestions for Training (check all that apply and fill in as needed): � Sales Skills: ________________________________________________________________________

________________________________________________________________________

For example: Other: �

Using the Price Trend Analysis �

______________________________________________ �

Securing the Price Improvement �

______________________________________________ �

The Art of Negotiation �

______________________________________________ �

Converting your Leads into Cash �

______________________________________________ (See list of additional Weichert University courses on page 15.)

� Technology Training: ________________________________________________________________

________________________________________________________________ (See list of technology courses on page 15.)

� Career Development: _________________________________________________________

_________________________________________________________

� Mentor Certification

� Leadership Development

� Broker Licensing Course

(Sales Associate’s Signature) (Manager’s Signature)

Sales Associate Career Planning Guide...

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