Friday, April 3, 2009
Thanks for a great meeting today on April 3rd, 2009
Just to recap the meeting
1) Prior to sending anyone to the Mentors the New agent will already understand that the needto have the following:
A) One of you as a mentor
B) To attend and cpmplete the Cutting Edge class
C) To attend and complete the Contracts class
D) To meet with their mentor weekly.
E) To close 3 sales in 6 months or subjec to to review.
2) I will have Debra post everyones Bio on the Blog for the agents to contact. So if you wish to update them bio and pictures, this is the time to do it.
3) You will get notices monthly to report on the progress of your mentors. A quick summary would be suffficient
4) Everyone understands that they are not under any obligation to take these people on. If they do not commit to your program then we can be reassigned or terminated.
Again thanks for your participation in the program.
1) Prior to sending anyone to the Mentors the New agent will already understand that the needto have the following:
A) One of you as a mentor
B) To attend and cpmplete the Cutting Edge class
C) To attend and complete the Contracts class
D) To meet with their mentor weekly.
E) To close 3 sales in 6 months or subjec to to review.
2) I will have Debra post everyones Bio on the Blog for the agents to contact. So if you wish to update them bio and pictures, this is the time to do it.
3) You will get notices monthly to report on the progress of your mentors. A quick summary would be suffficient
4) Everyone understands that they are not under any obligation to take these people on. If they do not commit to your program then we can be reassigned or terminated.
Again thanks for your participation in the program.
Meeting Agenda for Friday April 3rd, 2009
I Review of the Blog format
II Review of the Mentor Agreement and absolvement
III Educational Calendar
IV Check Ride
V Standards of Performance. Metor and Mentee
VI Mentor Tools
VII Meeting schedule
II Review of the Mentor Agreement and absolvement
III Educational Calendar
IV Check Ride
V Standards of Performance. Metor and Mentee
VI Mentor Tools
VII Meeting schedule
Mentoring Agreement
KELLER WILLIAMS-SILICON VALLEY MENTORING PROGRAM
Mission
To offer personal guidance to new agents to build their confidence and inspire greater achievements
Objectives
To develop a standard of care that promotes a professional image, reduces company/ broker/agent or transactional liability and increases the confidence and success of the new agent
Method and Format
Mentors shall use “COGNITIVE MENTORING”, a model that enhances cognitive thinking. It is not based on teaching behaviors or merely modeling behavior, but based on coaching Mentee to develop insight necessary for problem solving through listening, observation, empathy and verbal communication.
• Mentor is chosen by the agent. The agent will be given a list of all mentors and is responsible to contact/interview with available mentors that are taking on new Mentees and enter into a mutual mentoring agreement with the mentor of their choice within two weeks of hire. The agreement is then submitted to the Assistant Team Leader.
• Mentee is a new licensee or an inexperienced agent with less than 3 transactions closed within the previous six (6) months
• An agent is required to have a mentor for their first 3 transactions consisting of at least one buyer side and one listing side. The third transaction can be either. All mentored transactions must be completed with same Mentor. (Mentees cannot count their personal listings and sales as a transaction.)
• Mentor and Mentee will meet weekly from inception of Mentoring Agreement to discuss Mentee’s needs. Mentoring program is primarily “transaction based”. Relationship is based on the skills surrounding a specific transaction or potential transaction(s). The Mentor is not responsible for continuous coaching or career/business development. 1
• Mentor/Mentee shall act as a “team” throughout the transaction(s) and shall appear as such in the eyes of the clients/prospects
• Commission split between Mentor and Mentee is 50/50 and shall apply to the first three (3) mentored transactions.
• Mentee/Mentor shall first try to resolve any issues and concerns they may have with each other directly. If issues cannot be resolved the Assistant Team Leader will be brought in to mediate.
• Marketing costs for transactions shall be solely absorbed by the Mentee.* Mentee’s name shall appear on all marketing material. All leads belong to the Mentee.
*Mentor can choose to lend open house signs to Mentee.
General Expectations of Mentor
1. After initial strategy meeting, Mentor shall schedule not less than one (1) weekly meeting with Mentee to discuss plan of action - should include interactive, practical sharing of information.
2. Mentor is responsible to explain the thought process behind each step of the process, not merely modeling of behaviors. (Remember - we want them to be able to stand on their own which requires “thinking” skills)
3. Mentor shall help Mentee create yearly goals and input them into the KW website.
4. Mentor shall provide a written report on Mentee’s progress to the Assistant Team Leader on a monthly basis regardless of an active transaction. Mentor shall provide a written “post closing” evaluation of Mentee’s performance to the Assistant Team Leader.
5. Mentor shall make necessary arrangements for another Certified Mentor to cover work while not available (i.e. vacations, illness, etc.)
General Expectations of Mentee
1. Mentee shall furnish own “lead” or prospect
2. Mentee shall be prepared to learn, using this program as an opportunity to grow
3. Mentee shall maintain and manage the transaction file 2
4. Mentee shall have basic listing, pre-listing, and buyer presentations prepared and ready prior to first transaction
5. Mentee shall attend all required agent training.
6. Mentee shall be prepared for and attend weekly 411 meetings with Mentor.
7. Mentee shall create yearly goals and input them into the KW website.
8. Mentee shall provide a written “post-closing” evaluation of Mentoring Program to Assistant Team Leader
Specific Program Accomplishments
The following activities to be conducted jointly or with Mentor’s guidance:
Listings
• Set pre-listing/listing appointment — one step or two? Mentee should understand value of each and proper professional language
• Use of Pre-listing packet
• Complete final Listing Presentation
• Perform actual listing presentation to seller(s)
• Complete listing forms
• Pre-market preparation of property
• Schedule/attend inspections
• Review reports, disclosures (for own understanding and method of explaining to sellers)
• Prepare flyers (introduction of various programs and/or types)
• Pre-market repairs/improvements
• Enter listing on MLS
• Implement marketing plan – (office tour, regional tour, scheduling of open houses and related marketing, preparation of marketing material such as “Just Listed” cards, etc.
• Prepare disclosure package
• Communicate with seller – updates, feedback from tours, agents (picking up cards from house), keeping flyers well supplied, etc.
• Present offers – reviewing of contract, preparing counter offer, negotiations, etc.
• Escrow process: Paperwork flow, tracking dates, repairs, contingency removals, reviewing estimated HUD, etc.
3
Buyers
• Set and attend initial meeting with buyers – discuss pre-approval process, wants and needs, etc.
• Set up initial tour – previewing prior to showing, etc.
• Show properties to buyer(s): Mentor shall attend initial showing. Mentee shall show subsequent properties and follow up with Mentor.
• Speak with listing agent about subject property (disclosures, inspections/reports, seller(s) desired terms, etc.
• Write offer - comparable search, pre-approval letter, cover letter, handling of deposit, etc.
• Offer presentation (importance of personal presentation where possible)
• Escrow process – ordering and attending inspections, lender communications, tracking of performance dates, reviewing and discussing inspections, discussing repairs (“contractual” versus “requested”),etc.
Date __________________________________
Mentor __________________________________
Mentee __________________________________
Asst. TL Approval __________________________________
Mission
To offer personal guidance to new agents to build their confidence and inspire greater achievements
Objectives
To develop a standard of care that promotes a professional image, reduces company/ broker/agent or transactional liability and increases the confidence and success of the new agent
Method and Format
Mentors shall use “COGNITIVE MENTORING”, a model that enhances cognitive thinking. It is not based on teaching behaviors or merely modeling behavior, but based on coaching Mentee to develop insight necessary for problem solving through listening, observation, empathy and verbal communication.
• Mentor is chosen by the agent. The agent will be given a list of all mentors and is responsible to contact/interview with available mentors that are taking on new Mentees and enter into a mutual mentoring agreement with the mentor of their choice within two weeks of hire. The agreement is then submitted to the Assistant Team Leader.
• Mentee is a new licensee or an inexperienced agent with less than 3 transactions closed within the previous six (6) months
• An agent is required to have a mentor for their first 3 transactions consisting of at least one buyer side and one listing side. The third transaction can be either. All mentored transactions must be completed with same Mentor. (Mentees cannot count their personal listings and sales as a transaction.)
• Mentor and Mentee will meet weekly from inception of Mentoring Agreement to discuss Mentee’s needs. Mentoring program is primarily “transaction based”. Relationship is based on the skills surrounding a specific transaction or potential transaction(s). The Mentor is not responsible for continuous coaching or career/business development. 1
• Mentor/Mentee shall act as a “team” throughout the transaction(s) and shall appear as such in the eyes of the clients/prospects
• Commission split between Mentor and Mentee is 50/50 and shall apply to the first three (3) mentored transactions.
• Mentee/Mentor shall first try to resolve any issues and concerns they may have with each other directly. If issues cannot be resolved the Assistant Team Leader will be brought in to mediate.
• Marketing costs for transactions shall be solely absorbed by the Mentee.* Mentee’s name shall appear on all marketing material. All leads belong to the Mentee.
*Mentor can choose to lend open house signs to Mentee.
General Expectations of Mentor
1. After initial strategy meeting, Mentor shall schedule not less than one (1) weekly meeting with Mentee to discuss plan of action - should include interactive, practical sharing of information.
2. Mentor is responsible to explain the thought process behind each step of the process, not merely modeling of behaviors. (Remember - we want them to be able to stand on their own which requires “thinking” skills)
3. Mentor shall help Mentee create yearly goals and input them into the KW website.
4. Mentor shall provide a written report on Mentee’s progress to the Assistant Team Leader on a monthly basis regardless of an active transaction. Mentor shall provide a written “post closing” evaluation of Mentee’s performance to the Assistant Team Leader.
5. Mentor shall make necessary arrangements for another Certified Mentor to cover work while not available (i.e. vacations, illness, etc.)
General Expectations of Mentee
1. Mentee shall furnish own “lead” or prospect
2. Mentee shall be prepared to learn, using this program as an opportunity to grow
3. Mentee shall maintain and manage the transaction file 2
4. Mentee shall have basic listing, pre-listing, and buyer presentations prepared and ready prior to first transaction
5. Mentee shall attend all required agent training.
6. Mentee shall be prepared for and attend weekly 411 meetings with Mentor.
7. Mentee shall create yearly goals and input them into the KW website.
8. Mentee shall provide a written “post-closing” evaluation of Mentoring Program to Assistant Team Leader
Specific Program Accomplishments
The following activities to be conducted jointly or with Mentor’s guidance:
Listings
• Set pre-listing/listing appointment — one step or two? Mentee should understand value of each and proper professional language
• Use of Pre-listing packet
• Complete final Listing Presentation
• Perform actual listing presentation to seller(s)
• Complete listing forms
• Pre-market preparation of property
• Schedule/attend inspections
• Review reports, disclosures (for own understanding and method of explaining to sellers)
• Prepare flyers (introduction of various programs and/or types)
• Pre-market repairs/improvements
• Enter listing on MLS
• Implement marketing plan – (office tour, regional tour, scheduling of open houses and related marketing, preparation of marketing material such as “Just Listed” cards, etc.
• Prepare disclosure package
• Communicate with seller – updates, feedback from tours, agents (picking up cards from house), keeping flyers well supplied, etc.
• Present offers – reviewing of contract, preparing counter offer, negotiations, etc.
• Escrow process: Paperwork flow, tracking dates, repairs, contingency removals, reviewing estimated HUD, etc.
3
Buyers
• Set and attend initial meeting with buyers – discuss pre-approval process, wants and needs, etc.
• Set up initial tour – previewing prior to showing, etc.
• Show properties to buyer(s): Mentor shall attend initial showing. Mentee shall show subsequent properties and follow up with Mentor.
• Speak with listing agent about subject property (disclosures, inspections/reports, seller(s) desired terms, etc.
• Write offer - comparable search, pre-approval letter, cover letter, handling of deposit, etc.
• Offer presentation (importance of personal presentation where possible)
• Escrow process – ordering and attending inspections, lender communications, tracking of performance dates, reviewing and discussing inspections, discussing repairs (“contractual” versus “requested”),etc.
Date __________________________________
Mentor __________________________________
Mentee __________________________________
Asst. TL Approval __________________________________
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