Question Details

Jeff Mays, Real Estate Pro in Glen Allen, VA

What is the best real estate sales contest ?

Asked by Jeff Mays, Glen Allen, VA Tue Jan 29, 2008

What sales contest has your company had (or you've heard about) that motivated you to make more sales or take more listings?

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We just finished our first "Auction" with "Money" earned through listings taken, sold, Sales made, etc. It really brought our office together. We had Top Producers bidding against not so Top Producers and those with the big bucks were extremely aware of their position and backed-off when someone with lesser "money" tried to bid on something they really wanted. I believe the office demeanor and spirit changed with this fun exercise. We all learned a lot about each other and had fun to boot. We all brought in appetizers and goodies to eat and drink during the process. Everything was “sold”!
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 “ex-boyfriend” 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!
0 votes Thank Flag Link Wed Jan 30, 2008
Sell $10 million or we'll release your mother-in-law from custody!!

very effective... but maybe that's just me.
3 votes Thank Flag Link Tue Jan 29, 2008
Alan May, Real Estate Pro in 60201
MVP'08
Contact
Cold Hard Cash, a car, a free cruise/vacation, or a free flat screen TV may motivate some agents ;-)
1 vote Thank Flag Link Tue Jan 29, 2008
TED SHOOP, Real Estate Pro in Buford, GA
MVP'08
Contact
Elite Agent Realty is giving you a chance to win a home and not just any home, a self sustaining low cost home of your dreams worth up to $750,000.
please check bellow:
http://www.eliteagentrealty.com/win-a-home-sweet-home-sweepstakes/
0 votes Thank Flag Link Fri Feb 8, 2013
How about the Listing Olympics as a tie in to the Summer Olympics this summer?
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!
0 votes Thank Flag Link Fri Apr 13, 2012
Personally, I've always just been motivated by competition itself--I want to be the best. I remember, I did sales for AllState Motor Club for 2 years. The goal was 1 sale per hour. The highest award was for 4 sales per hour, for four hours straight. You won a tee shirt if you did that!! lol. I didn't care about the tee shirt, but I did it several times and was their number one sales person for 2 years straight.
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.

Brendan
0 votes Thank Flag Link Thu Jan 31, 2008
I have had "agent of the month" for my guys giving them a brand new Mercedez Benz to drive (branded - agent of the month) until beaten by the next top performer who then gets the merc. (Fuel - gas as you say - on me)...
0 votes Thank Flag Link Wed Jan 30, 2008
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