Q & A
Select a Question and Answer category from the selections available
What makes a successful agent?
Does your Broker compete?
Choosing an Agency
Are you looking to retire?
Signature Properties of New England specializes in the professional
development of both new licensees and experienced agents. Our
approach to management is based on accountability, training and
recognition. Knowledge, a willingness to learn and explore new
ideas, and preparation are key attributes to a successful real
New licensees are given hands-on guidance and assistance during their first listing appointments and their first buyer appointments. There is a member of the leadership team available to assist with every phase of the transaction during the learning process.
Each agent at Signature Properties of New England works from a business plan and is expected to set tangible goals and implement strategies for reaching those goals. Agents are held accountable to first themselves and their families, and then to the Company. We support each agent by creating an environment where they can be successful.
Whether you are a new licensee or an experienced agent, our goal is for you to become a real estate champion. If you are considering a career in real estate, you must complete 60 hours of pre-licensing education and then sit for the Connecticut State Examination. Once you pass the exam, you affiliate with a Company. When you join the agents at Signature Properties of New England, you will participate in weekly training and be given support and assistance with your customers and clients. We are with you every step of the way.
The offices of Signature Properties of New England are located at:
1031 Norwic - New London Tnpk, Suite #13
106 Westcott Rd
Our professional offices provides a conference room, a technology center, and spacious work areas for our agents. We have created an environment where you can be successful.
What makes a successful agent?
Successful agents come from all walks of life AND, like other
professionals; their success comes from investing in their
career and working diligently every day at their profession.
Do experience, education and drive help? You bet! Does a
vast array of friends and contacts aid their growth? You bet!
Does affiliation with an Agency that has every agent’s best
interest at heart help? YES!
Of those new agents who enter the industry, experience has shown, 80% +/- will leave the business by the end of their second year. Not a pleasant thought and not one to be taken lightly. The costs to remain licensed, complete continuing education, and pay Realtor dues; Errors & Omissions insurance and Multiple Listing fees can reach nearly $2,000 annually.
YET – there are many agents in this business who reach six-figure incomes year after year – even in “down” markets. These agents are the stars that would succeed in most any other business that they truly love. And let’s not forget those agents that earn tens of thousands of dollars each year by working a “niche” market, among people they know and trust. Your Signature Broker will work with you to evaluate the best way to approach and improve your earning potential.
Technology can be an agent’s best friend. Computers, copiers,
scanners, e-mail, software, Multiple Listing Services, smart cell
phones, company web sites, third party web sites, your own web
site, social media - You name it – agents use it!
Since most agents do much of their work from home these days, some of this equipment will be needed in your home office. Signature Properties of New England will provide you with the necessary technology that will allow you access to your transaction information directly from your Smartphone or from your computer/laptop as well as at each of our professional office locations.
No "Floor-Time" at SPNE (Agents tending phones in the office)
Today, almost all listings are marketed with the agent's cell phone number displayed with the listing information itself. That means that most calls from buyer-prospects go directly to the listing agent. Even the listings that appear in multiple real estate web sites direct the prospect back to the listing agent. After all, if you use your time, effort and funds to secure a listing, shouldn't those buyer-prospects that inquire, go directly to you? We think so!
Our approach is a bit different. We pay company personnel to answer calls that come to our offices, preserving our agent's time to work with buyers and sellers in the listing and sale of property. After all, your income is earned by making sales, not tending the phone.
SO – what how do we handle incoming calls about a listing? We immediately put that prospect in touch with the listing agent for that property to answer questions and arrange a showing. (possibly resulting in a two-side sale).
What if the call is from a possible buyer (or seller) who is not working with an agent? We assign that prospect to an agent that is working in the office or to one of the agents on a "round robin" basis. Everybody gets their repeated turns at new business.
Of course, the very best leads you receive are from friends, relatives and former clients. These leads are the most likely to produce a transaction and they all go straight to you.
Leads are GOOD!
Let's challenge you a bit here. (1) Everybody wants leads. (2) Everybody wants FREE leads. (3) Everybody wants free GOOD leads. (4) Everybody wants free, good leads that produce a TRANSACTION. Right?
What's your track record? How many of the leads that you receive from your agency produce a transaction? Not as many as you like? Why? Because YOU likely don’t nurture and follow-up with these leads over time!
Who's got time to do that? You do! Unless you don't want new clients. You don't necessarily need MORE leads - you need to follow up consistently on the ones you have and the new ones you gererate.
Here are some generalized sales stats that will open your eyes:
2% of sales are made on the first contact
3% of sales are made on the second contact
5% of sales are made on the third contact
10% of sales are made on the fourth contact
80% of sales are made on the fifth to twelfth contact
So, if you’re convinced that you need to do a better job at following-up leads, our Contact Management system gives you full time access to a spectacular lead tracking/nurturing system. It will help you convert many more leads into clients then ever before.
Warning: If you were to join Signature Properties of New England and you do not pursue prospects – you’re unlikely to earn a dollar more than where you’re currently affiliated. We’d like you to join us if you ARE WILLING to explore adopting new methods and systems. If you do – you’ll find us to be the "greener grass" on the other side of the fence.
Administrators and Administrative Assistants
Now I'm Excited!
High volume agents struggle to keep up with the "service work" that is required in this business. We won’t try to describe it all, but you know what I’m talking about. It never ends and it eats away at your productive time.
At Signature Properties of New England, we employ Administrative professionals to aid you in many of those tasks. Their goal is to lessen your workload by helping you utilize the "Signature" systems that help you keep your clients better informed and aid in the preparation of marketing materials for you.
These staff members also serve as our Quality Control people - helping you with “best practices” and maintaining our standards for high quality service to our clients.
When you request a meeting with our Broker you will be given a summary of those services that our staff provides. It will be simple to make a comparison to the services you currently receive.
The commission resulting from a transaction that has Closed is
shared between the Agent and the Agency.
Your percentage of that commission share can be from 55 to 95 percent, depending on your experience, your volume of business, your reputation in the industry - and the commission structure you choose.
- When you join us, we will (together) decide your commission share
- Your initial share percentage can increase as your volume increases
- Commissions are paid quickly
Mastermind Sessions are much different than training to learn the
nuts and bolts of the Real Estate business – different than
learning “best practices”. It’s even different than learning
how to List and Sell.
Mastermind Sessions are sitting in small intimate sessions with six or eight other agents of various backgrounds and experiences and trading ideas and recent experiences. It’s amazing what you learn from the experienced people – it’s amazing what the experienced people learn from you. You will learn something in every session that will help you in your business.
These sessions are usually by invitation and are always moderated by a Broker who assists in keeping the session on track.
Sometime the session has an announced purpose – sometimes not.
Signature Properties of New England has offices in Danielson, and
Uncasville – both just off the Interstate 395.
Agents have 24/7 access to all offices to work or meet clients. Offices have conference rooms – wi-fi, computers, copiers, scanners, MLS access and the usual forms you will need. AND access to kitchen and meeting rooms.
You’ll like the convenience when you need it. No more Donut Shop meetings!
Does your Broker compete for business with you?
Signature Properties of New England - Broker/Managers DO NOT compete
with their agents for new business.
The practice at Signature Properties of New England dictates that all property inquiries are routed to the listing agent for that property. Our goal is to create as many transactions as possible for every listing agent.
In other circumstances – a walk-in, for example – the prospect (buyer or seller) is assigned to an agent that is in the office at the moment, or, if none are present, to the next agent on the “round robin” list.
If a prospect lead comes in by phone or from one of our many websites, it will be assigned to the next agent on the “round robin” list that is best suited for the client.
Our Brokers DO accept listings and buyers that are developed through their own promotional efforts and from their list of long-time clients, relatives and friends - all of whom contact the Broker directly.
Special Circumstances: Occasionally a prospect will contact us who may be interested in the purchase or sale of a “specialty” property, such as commercial or a large land parcel. In those circumstances, the Broker will assign that prospect to an agent with that special experience. In those instances, the “round robin” is ignored.
Choosing an Agency
There are dozens of real estate agencies with whom you could affiliate.
Some are Mom & Pop shops (no negative intended). Others are Corporate
Big-Box shops (no negative intended). Then there’s us.
If you’ve spent some time studying the information on this web site, you already know a lot about us. We’re pretty unique. We’re a bit old fashioned. But we’re about as modern as you can get from a technology and marketing standpoint.
Best bet is to ask for an interview with our Broker, which will provide you with information to help with your affiliation decision. Come and sit with us for a talk. If you’re a “new” agent, we’ll help you fairly evaluate your decision process. If you’re an experienced agent in the business, we can discuss how we can help you “jump start” or elevate your business to help you reach your business goals.
We’d love to talk with you. Call us Today.
“A Tradition of Trust”
Are you looking to retire?
Owner/brokers of small to medium sized real estate firms face the
issue of when to retire and what to do when they do retire. How do
they maintain their income? What happens to the agents in their
firm that they have worked with for years?
Retirement from the real estate business is often not age related – it is more often exhaustion dependant. Brokers reach a point in their ownership when the effort of maintaining the brokerage, managing the agents and paying the bills becomes less rewarding. The fun is gone! And, in diminishing markets, their personal income often suffers because of reduced listing and selling efforts.
Signature Properties has experience in addressing that dilemma. We offer the opportunity to scale back, while being rewarded for your years of work.
If you have considered leaving the business, for any reason, Signature offers the ability to “partner” with us in a manner that offers flexibility and choice, based upon your plans for the future.
Retire and don’t work. Signature can purchase your agency, affiliate your agents and compensate you accordingly.
Retire and work a little. Be compensated for your agencies ongoing volume and generate personal income with list and sell referrals to your former agents.
Retire and work a little more. Use your years of developed talents to re-establish a high volume of buyers and sellers to boost your personal income, while receiving ongoing compensation for the volume your agents produce. Even more income is available by participating in the Signature recruitment program.
Some of the benefits you will experience immediately:
- You will be able to adjust your schedule as you see fit – take a long needed vacation, increase your income with more time for listing and selling, support a favorite charity, visit with your Mom.
- You will no longer be responsible for maintaining the cost of an office. If you currently rent, your rent will cease. If you own, you can rent your space to others for increased income.
- There will be no further equipment to maintain or upgrade, no heating or air condition issues to deal with, no new computers to buy.
- You will receive maximum compensation for all of your personal closings.
- You will be compensated for sales made by your current agents and agents that you may affiliate in the future