How to make joint sole agents work harder? Urgent, help pls!

hazyjo

Not sure if you can really set criteria as to who'll get to market solely after the contract's up. Hopefully it will have sold anyway within that time. It might be that you choose a third agent.

Judge them at the end of the term if it's not sold. I wouldn't be making any sort of checklist now. Might be completely wasting your time.

Jx

linhneu

@ Hazyjo: I am sale executive for an office building which will come to operation in 18 months.

I like your idea of judging them at the end of the term. However, we need to know the criteria to judge anyway

poppysarah

You only need one good agent and the right sale price.

hazyjo

poppysarah wrote: »

You only need one good agent and the right sale price.

Exactly. Any reason why you're using joint agents? Can't you just try one, then move on to another if you're not happy or if they've not sold? You can generally negotiate on how long you sign up for, and on their fee.

Jx

daisiegg

linhneu wrote: »

Thank you, Caroline. You raised a very interesting issue.

As I understand your point is that you agree with my solution except how to judge the winner. It should not be based on revenue only, right?

I am thinking of making a list of criteria to judge the better performer. But beside revenue, it is hard to think of another factor (such as time, efficiency... as you mentioned) because they are non-quantitative one, and can not be measured.

I am looking forward to hear your suggestion

I smell an idea for an exciting new TV reality show...

Caroline73_2

linhneu wrote: »

Thank you, Caroline. You raised a very interesting issue.

As I understand your point is that you agree with my solution except how to judge the winner. It should not be based on revenue only, right?

I am thinking of making a list of criteria to judge the better performer. But beside revenue, it is hard to think of another factor (such as time, efficiency... as you mentioned) because they are non-quantitative one, and can not be measured.

I am looking forward to hear your suggestion

Honestly I think that you are over thinking it.

Speak to businesses in the area who have dealt with the agents. Go and speak to all the agents and ask them how they would market it, what their prices are and go from there. They want your business after all.

Go with the one agent you feel is the best based on the information you get and your rapport with the agents. Qualitative factors are just as important as quantative ones.

Running_Horse

You could stand over them with a whip, shouting work harder, work harder!

linhneu

Thank you all, my friends. You are so good to discuss the problem with me

Now I post the entire plan that I am about submit to my boss. Really hope to receive comment from you all

(Note: I have no choice other than Joint Sole Agent because the board of director decided to use this way. They think this could help us take advantage of 2 separate client databases, enjoy joint effort in marketing campaign and harder working by increasing competition between 2 agents)

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PROPOSED STRATEGIES FOR DEALING WITH LEASING AGENTS

1. STRATEGIES

Phase 1: Joint sole agency in marketing and leasing

-Term: 9 months to 1 year
-Marketing service: Marketing Consultancy and Set up fee is split 50:50 for each, and applied for entire period from the contract date is signed until Grand Opening.
- Leasing service: “winner takes all” basis, 100% commission for the agent who introduces tenants
- All tenants sourced or introduced directly to the Landlord shall be passed to Joint Sale Agents. Fee split 50/50 between 2 agents
- Agent who better introduces tenants (measured by total gross rent fee) will be processed to be Sole agent for the next phase.

Phase 2: Sole agency

- Term : the shorter, the better ( propose: 6 months)
- Employ A or B whoever better performed in phase 1 as our Sole Agent

2. RATIONALES

* Why “winner takes all” basis other than 75:25 and 60:40 split as proposed by A and B?

Benefits for us:

- Reduce the possibility that one agent relay to another, just sit back, do nothing and hoping the other agent is going to sell then they enjoy “free” commission
- Promote harder competition between the two because if they do not try to sell, they lose everything to their rivalry and also their effort on marketing campaign.
- Hope to cultivate high competing sense between these long –time rivalry.

Benefits for the agent:

- Get higher commission, do not have to share their effort to the other
Do not have a sense that they are cooperating with their long-time rivalry
- Get Sole Agent privilege

* Why apply Sole Agent for the shortest term possible in phase 2?

- This is a reward for the “winner” in Phase 1, create motivation for him to sell our office
- The shorter the term, the better for us because we can terminate the contract when Sole Agent does not perform well. Take-over pressure from other agents will push Sole agent effort.

* Why apply the term of 1 year for phase 1?

If all of the strategies proposed in Phase 1 and Phase 2 are successfully negotiated, they will create strong motivation for both agents to work harder for us. Therefore, we benefit from a long term contract.

But if it last too long, we face larger risk in unexpected circumstance.

3. CONCERNS & CONSIDERATIONS
- (1) The Agents may not agree the “winner takes all” basis because they receive nothing beside marketing fee for their marketing effort. They may argue that a succesful deal no matter wh who introduces is also the result of the marketing effort of both agents.
- B offered higher commission fee schedule than the one presented in this proposal

4. SOLUTIONS
- Negotiation skills and ability of manager
- Put more effort and supervision in the process of setting and implementing marketing campaign. For example, require weekly report or meeting for work progress…
- In case, they do not agree in the “winner takes all” basis due to Concern (1), we can separate marketing service from the package, i.e., outsource the marketing consultancy to another agent.

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Do you think this plan is possible and efficient?

Running_Horse

Do you make all your business decisions after consulting strangers on a message board?

Can I have your job?

linhneu

I make my own decision, but wanna discussion. Common guy, share to be shared