The items we brought in for auction where all across the board. Our Top Agent brought in a dozen fresh laid eggs from her prized chickens with the prize a dozen to the winning bidder for the next month--in any color they wanted! We also had a lot of "re-gifting" (an agent bought her boyfriend an expensive watch which he didn't want so she brought it in for the auction and another agent brought in some gorgeous jewelry which an â€œex-boyfriendâ€ had bought her!).
Some big ticket items really got the top agents going at it. We had our REO guy, very flush with listings, with a wad of cash and our Top Producing "Team" with an equally impressive wad, going bid for bid on some jewelry and wine. Conversely you'd have other items being bid were agents would say, "That's too much!" It's PAPER money for Jiminy Sakes!! I did the auctioning and didn't get a chance to spend MY money so I'll be way ahead at the next auction. Give it a try. You can take the CEO of your company and put His or Her face on the money. We used Gary Keller!
P.S.--use colored paper for the money but beware of the sandbagger who gets blank paper of the same color, cuts out "blanks" and stuffs them under his "real" money to make it look like he's loaded. They try to fake everyone out on a special item to scare away the bidders! We are a tricky lot!
please check bellow:
Divide agents into 3 groups. Less than 1 year with the Company is the Gamma Team. 1 to 3 years with the Company is the Beta Team and Over 3 years with the Company is the Alpha Team. To qualify a Listing must be a residential listing. Alpha Team members (the most experienced) must take at least 5 listings to medal, Team Beta must have 4 listings and Team Gamma, 3 listings. Contest to run 90 days. The most listings taken by an inividual will receive the Gold Medal Prize, second to receive the Silver Medal Prize and third to receice the Bronze Medal Prize. We gave away weekend hotel packages. In the event of any tie, the winner was based upon the highest dollar volume. As we announced the contest at the sales meeting I had all the agents stand and we recited the "Listing Olympics Oath." It was a great contest!
What's my point you ask??? The point is you want people like that, people who LOVE to sell and LOVE to compete, then you don't need to offer them anything other than recognition. If you're a wise broker and have hired the right types (or at least 2 or 3) all you have to do is put a "top 10" or "top 3" or "top whatever" list on the wall and the true salesmen will go bananas!! No fooling, this is true, try it.
Recognition goes a long way. Now some may disagree and say we will only disparage the less successful salespeople, but frankly if they don't like this type of thing I personally think they are in the wrong business. Besides, there is no punishment for "last" etc., as I said, if you have 10 sales people, have a top 3 list. If you have 100, have a top 10 list, and so on. A reward for whoever is #1 at the close of the year would be nice. An incentive might bring out the competitors in some of your less aggressive agents too. Perhaps a trip to Mexico. If one of your people makes you 100k, shouldn't you send them to Mexico??? or something!
Good luck, but again, the REAL key is to hire the right types of people and then mold them I think.