The Floyd Wickman Team blog by Mike Pallin It’s 2009 and the entire real estate world is reeling from the effects of the Wall Street financial crisis. It is the worst of times, no doubt about it. Here then is the story of two similar companies and how they responded to this crisis. (Names and locations have been fictionalized to protect confidentiality, but the numbers are real.)
Company A has 12 suburban offices, beautifully decorated and fully staffed, approximately 600 agents. Their response to a massive glut of distressed properties and cascading home values is to cut back, reduce overhead, consolidate offices, and rely on office managers for in-house training, social media classes and internet resources.
Company A reluctantly attempts to sponsor a Floyd Wickman Program, but cannot get enough of their agents to attend a free introductory seminar.
Today, Company A has 212 agents left, half of them retiring out of the business, and 100% turnover in their management and leadership.
In 2009, Company B has 20 suburban offices in three major metropolitan areas and approximately 600 agents. Their response to the financial crisis is to invest in their people. They sponsor and pay for a Floyd Wickman Program every year with at least 100 or more agents graduating annually.
Today they have 1200 agents in 50 offices, and a very healthy bottom line.
In the first year since the crisis that their market showed an overall 7% increase in agent GCI, Company B’s agents averaged a 17% increase. Those who graduated from The Floyd Wickman Program were up by 84%, increasing gross company revenue by more than $5 Million Dollars.
In 2017, Company B paid for and graduated 176 salespeople from The Floyd Wickman Program. In 42 days, these agents produced 409 new listings and 662 sales.
2009 was the worst of times, and they have become the best of times for some. We are proud and honored to have been part of this renaissance, and very grateful for our clients continued faith in Floyd Wickman training.
Two companies, two different responses to crisis, and two very different outcomes. To find out how a commitment to Floyd’s master selling skills training can transform your company, please give us a call or visit www.floydwickman.com.