Real Estate Team Building Strategy #6 – Retaining Your Top Talent
After agent recruiting, the retention of productive agents is the next critical function of a successful brokerage or team. Retention starts with providing an outstanding office environment and building a culture of positive energy.
Whether they voice it or not, most agents really want …
A leader (broker, manager, team leader) they can trust and they know has their back, the support of an outstanding administrative team, a professional office space with equipment and technology that is reliable and an environment (culture) that matches their value system.
Special Inman Report: Real estate team risks and rewards
https://www.inman.com/2017/11/21/special-report-real-estate-team-risks-and-rewards/ (Survey conducted Oct. 12 and Oct. 16, 2017. 928 respondents)
- Well-run real estate teams offer agents work/life balance and are ultimately greater than the sum of their parts.
- Nearly 60 percent of real estate pros would consider joining a real estate team or starting one of their own.
Why Join or Start a Real Estate Team?
- To expand your business opportunities (56 percent)
- To be a mentor or receive mentorship (56 percent)
- To gain experience as a new agent/learn the business (53 percent)
- To provide more effective representation for clients (50 percent)
- To create an exit plan (35 percent)
Great Culture is your recruiting, attraction and retention secret weapon!
The most successful organizations have employees who are living the culture and can share it along with the vision of the future.
“Our number one priority is company culture. Our whole belief is that if you get the culture right, most of the other stuff like delivering great customer service or building a long-term enduring brand will just happen naturally on its own.” -Tony Hsieh
Cultivation of Your Company | Team Culture
- Only hire people that fit your culture. Does the team member share the core, common beliefs of the organization?
- Ensure team members clearly understand and are in alignment with your team/company values and vision
- Truly embrace the team concept that you are not a bunch of individuals
- Acknowledge that good ideas and decisions can come from anyone
- Recognition of a job well done
- Consistent performance reviews – people like to know how they are doing
- If applicable, give your employees a career path for growth
- Think about your culture every day. Check yourself. Make sure that you are not getting too busy or to detached from the day to day to keep it in check. Remember – YOU are the culture.
Recognition and Retention Ideas
- Publish monthly or Quarterly Top Performers Certificate (Number of sales, Total Sales Volume, Most Sales, Most Listings, Best New Agent)
- Recognize agents at your office meetings and in Newsletters: First listing, sale, closing with your company; birthday; anniversary with your brokerage
- Share success stories that highlight your agents’ accomplishments
- Post your agents accomplishments /awards on Social Media channels
- Annual awards and recognition event
- Sponsor or participate in Community or Charitable Events
Coaching your agents to Success
Active Listening and Observation
Active listening is a communication technique used in coaching, training and conflict resolution, which requires the listener to effectively reflect back what they hear to the speaker, to confirm understanding of both parties.
Questions Attract – Statements Repel
Benefits of asking versus telling:
- Establishing rapport: don’t try to impress people with your ideas, rather establish rapport and trust by eliciting ideas from them and thus expressing how much you care about them
- Better listening, deeper understanding: all too often, while you are talking, your prospect is not listening but thinking about what he/she is going to say. When you ask questions, you make your prospect think in the direction you propose.
- Higher motivation, better follow-up: the right answer will not be imposed by you, it will be found and owned by your client, who will be more motivated to follow it up
Provide insightful feedback, guidance, and advice
Empowerment through accountability
- Customized Business Plan based on their specific goals, areas of expertise, niche
- Tracking and accountability forms or procedures
- Weekly/monthly coaching sessions
Use a 90-Day Onboarding & Training Manual
Create a 90-Day Plan to onboard and train your new team members. The goal is to transition the agents joining your team over a 90-day period by having them simply plugin to your existing real estate business systems.
- Administrative, Transition & Accountability
- Business Plan & Goals
- Database & Referral System
- Buyer System
- Listing System
- Social Media Marketing
- Lead Gen & Advertising
- Escrow Process
The WBNL Coaching Real Estate Team Builder program includes an agent training manual to accomplish this key strategy for successful team building. Our turnkey, complete team building system includes all of the materials, supporting documents, checklists, and manuals along with the step-by-step implementation training delivered via our on-demand video coaching platform.
Visit www.RealEstateTeamBuilder.com to learn more about our “Team Building in a Box” system to build your profitable real estate team.
Here is what you’ll receive:
- Online, On- Demand Real Estate Team Builder Training
- Lifetime Access to the Recorded Videos and Documents
- Complete Package of Documents, Admin Forms
- Real Estate Team Builder Procedures Manual
- 90 Day Onboarding & Agent Training Manual
- Team Project management, accountability, communication system
At Home Connect America: THE Home for Teams, we see YOU as a small business owner. Home Connect America was created to help professionals like you build a successful real estate team. Our purpose is to help you seamlessly connect your business, your life, and your community so that you realize your ultimate goals and dreams. Our ultimate goal is to provide you with freedom. Everyone has a different objective and we believe that you should have the freedom to achieve what you want. We’ll be there to help you reach whatever that looks like for you. We make it happen with specialized coaching, training, and business systems designed to show you how to operate a successful business focused on providing excellent service and results.
Contact Jan O’Brien for a confidential interview to learn more about our proprietary training and coaching programs, team systems and software. Call or text Jan at 702-858-9191.
Real Estate and Reality meet as co-hosts, Jan O’Brien and Matt Emerson bring you Tips, Tools, & Topics to supercharge your business. They’ll share their insights along with interviews with industry thought leaders. The ethos of WBNL Coaching is helping you to align and connect so that you can prosper. The Wandering Zen segment will offer you some inspiration so that you can disconnect and recharge.
Visit WBNL Podcast for all of our Episodes, Show Notes, Videos and Links to Resources