This past weekend all 32 NFL teams had to cut their rosters from 90 players to 53. This is a mandatory cut required by the league. Team leadership is faced with hard decisions. It doesn’t matter who they like, what individual players are nice or good people. What matters is performance and contribution.
Leadership is faced with the decision to limit their roster to the strongest 53 players, who they feel will make the biggest contribution to the ultimate goal of winning.
I wonder what would happen if real estate brokerage owners and team leaders had the same deadline. What if you had to cut your roster down to the strongest performers in your company?
One of the reports I use in brokerage/team operations, is the quadrant report. It separates the agents in an office or on a team into four quadrants. The transaction numbers change by company, so I’ve used general rule of thumb numbers for the illustration below, but essentially you are segmenting agents by production in four increments. Note: step two of this report is to use company dollar instead of transactions. I don’t suggest using gross commission income or dollar volume.
The goal by quarter should be to see a migration of agents from the non producing quadrant into one of the producing quadrants. If an agent stays in quadrant 4 with no production, then perhaps they should be cut from your team.
Building a strong team of producers is the fastest path to making money in real estate.