Real estate agents have one of the most grueling careers- regarding work-life balance, commission-based incomes, unpredictable market conditions, and client interactions.
Therefore, brokers must look out for the well-being and motivation of their real estate agents so they can be productive in the long term instead of burning out and having adverse reactions to challenges.
Read ahead to explore how to support and empower your real estate agents!
1. Carefully Recruiting the Right Agents
Selecting suitable agents for your brokerage is always the first step to ensuring the success of your business. You can only motivate and cultivate your agents if they are willing to be motivated and grow.
If you hire agents with a negative mindset and bad character, more than motivating and learning opportunities will be needed to turn them into high-producing agents.
Therefore, it is vital to look beyond experiences when hiring a real estate team. Many successful brokerages, such as the ‘Oppenheim Group,’ have been successful because they have looked beyond experience and into agents’ personality traits and character.
This includes ensuring prospective agents have the drive to go above and beyond to succeed in a competitive real estate market. Moreover, they must be somewhat self-motivated and highly willing to learn new strategies and overcome obstacles.
Moreover, a charming and persuasive personality is a vital element to look for in an agent because in a real estate career, agents will have daily interactions with clients, and character plays a significant role in winning them over!
2. Invest in Productive Onboarding
Once you have selected a suitable team for your brokerage and have moved on to the onboarding process, you must use this time to instill values and productive habits into your agents.
This is essential because different businesses have different cultures and working techniques, and it is vital to get your newly recruited agents trained to equip your values rather than disrupt the office’s culture.
Furthermore, during this phase, you must instill productive habits that will aid them in success. Examples of high-performance habits include:
● Using your websites or databases for the most effective results.
● Nurturing proactive leads.
● Maintaining healthy and good relationships with existing and potential clients.
When agents have such high-performance habits, they find it easy to achieve their first few wins and to keep going even when things get tough.
Moreover, you can better understand them by establishing a close working relationship with agents during onboarding. During this time, you can identify factors that tick them factors that motivate them, allowing you to help foster them better.
3. Establish Clear S.M.A.R.T Goals for Agents
Successful brokerages are not born from vague goals and visions. If your brokerage aims to be successful, it will have to determine its image, and you will have to set specific, measurable, achievable, realistic, and time-bound (S.M.A.R.T) goals.
Moreover, you must convey these objectives to the agents clearly and constructively to avoid misinterpretation. An example of a S.M.A.R.T goal is ‘Generate 30% more listings by the next quarter’ instead of vaguely stating ‘Generate more listings.’
Such clear goals help motivate agents to meet realistic and measurable milestones and generate healthy competition between agents in the office.
Furthermore, with time-orientated goals, you are better able to keep track of and assess the performance of individual agents as well as the performance of the brokerage as a whole on a timely basis, such as quarterly or annually.
4. Offer Public Recognition and Celebrate Milestones
Setting S.M.A.R.T. goals on an individual and business level is an excellent way to encourage agents to meet specific milestones. However, once they have achieved them, it is essential to provide them with appreciation and recognition on both an individual and team basis.
Therefore, it is ideal to publicly recognize the agent’s achievements and growth at team meetings or events. This creates a sense of accomplishment and accountability for each team member, boosting motivation to do better and stay ahead of the game.
Furthermore, it makes high-achieving agents stand out, and other team members may be inclined to ask them for advice or help in situations that boost overall productivity.
Consider organizing events for your team to celebrate their achievements. Consider getting them awards, so browse some ideas for awards for real estate agents.
Conclusion
We have rounded up the top 4 strategies to implement to ensure your real estate team remains motivated to reach new milestones for the brokerage.
Moreover, we encourage you to step away from the traditional real estate world and explore other avenues, such as the digital real estate realm, to open up more opportunities for your brokerage and team.