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Colliers University Training More than Doubles
April 16, 2009
Colliers International reported it’s getting its money’s worth—and then some—out of its Colliers University training program, both for itself and its brokers. A new analysis by the firm shows salespeople who took five or more Colliers University core courses increased their revenue by an average of 54 percent per year, more than double the average annual increase for salespeople who took no core courses.
A broker who earned $400,000 in 2007 was likely to have earned more than $612,000 in 2008 if he or she participated in five or more core classes, according to the analysis. By contrast, the broker who took zero classes was likely to earn only $502,000. Brokers who took five or more courses earn in 10 months what brokers who did not take any courses earn in the entire year.
"Unlike many of our peers in the commercial real estate services industry that are scaling back, Colliers International puts a short- and long-term premium on training, despite the economic downturn," says Douglas P. Frye, CEO and chairman of Colliers International. Frye also is a program participant. "Our program takes a fundamentally different approach. We provide a layered course that develops business skills and also focuses on behavioral coaching and human interaction. We believe all personal development is professional development."
Colliers University offers participants three class types within its seven "core" classes, on which this revenue study was based: Product Knowledge, Business Skills, and Behavioral Coaching. The classes include:
• Market Force (behavioral coaching): Defining and building identity; defining work styles and assembling a dynamic team; and working through projects and breakdowns.
• Goal Getter (behavioral coaching): Achievement strategies to accelerate work products; the motto is “You give me four hours, I'll give you eight.”
• Value Mining (business skills): Selling professional services in a competitive environment; message acceleration strategies in a pitch; and relationship acceleration strategies.
• SOAR or First Approach (business skills): Broker prospecting classes.
• Defining Your Market Identity (business skills): Identifying specialization not only through geography and product/client/service type, but also as one’s unique way of doing business.
• Bridging the Gap (business skills): Presentation and negotiation skills to assess and understand how to achieve the best results for clients and in business transactions.
• Basics (product knowledge): About Colliers' company, structure, business lines, and how to discuss the firm with clients.
The classes vary in length, but on average, it takes 35 hours to complete five classes. That equals 40 minutes per week to complete five courses in one year. Colliers points out, however, "the rewards of increased earning continue year after year."
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