The gift of growth: How feedback can empower your real estate agents

According to Gallup research, employee engagement boosts organizational performance. In one study of 65,672 employees, Gallup found that those who received strengths feedback—meaning, positive feedback that leaves employees feeling confident and competent—had turnover rates that were 14.9% lower than those who received no feedback. What does this tell us? That a culture of feedback can help people to shine, which impacts performance.

But feedback often carries a negative connotation, conjuring thoughts of disapproval and shortcomings. Weichert® suggests this: View feedback as a gift. Just like a well-chosen birthday or holiday present that demonstrates how much you understand, appreciate, and value someone, agent feedback delivered with the right intention can empower them to grow.

Here are a few key benefits of real estate feedback:

• Boosts confidence: Positive feedback highlights an agent’s strengths, building confidence and motivation. It shows your agents you value their contributions and reinforces positive behaviors. This is a powerful position to take in your real estate leadership approach.
• Identifies areas for growth: Constructive criticism can pinpoint areas needing improvement. By addressing these weaknesses, but with the intention of helping not dinging, agents can become well-rounded professionals.
• Improves client experience: Empowered agents with refined skills translate to happier clients. Effective feedback leads to stronger negotiation skills, improved communication, and ultimately, a smooth and successful transaction.
• Fosters open communication: A culture of feedback encourages open communication, allowing agents to voice concerns and seek guidance. This two-way street strengthens your team dynamic.

Now that you see the power of agent feedback, let’s explore how to deliver it effectively. Here are some key strategies Weichert recommends:

• Focus on specific behaviors: Instead of vague comments, pinpoint specific actions or interactions. This allows for targeted improvement. 
• Balance the scales: Don’t let negative feedback dominate the conversation. Start with positive reinforcement, then transition to constructive feedback that can help agents improve their skill set. This maintains a positive atmosphere.
• Be timely: Address feedback promptly, while the situation is fresh in everyone’s mind. This ensures the agent can readily apply the learnings.
• Create a safe space: Opt for private, one-on-one sessions. This fosters an open dialogue where the agent feels comfortable asking questions.
• Focus on solutions: Be aware of the difference in pointing out problems versus suggesting solutions or resources to help the agent improve. Offer additional training or mentorship if needed.
• Listen well: Encourage the agent to share their perspective on the situation—and really hear what they’re saying without jumping to conclusions or allowing your biases to get in the way. Active listening demonstrates respect and allows for a collaborative approach.
• Focus on future growth: Frame feedback as a means for future development, not a punishment for past mistakes.

While one-on-one sessions are crucial, consider incorporating feedback into your overall team culture. This could involve peer reviews, self-evaluation tools (such as scorecards or goal-setting exercises), and client feedback surveys. Encourage agents to provide constructive feedback to each other. This fosters a culture of learning and allows agents to benefit from diverse perspectives.

Remember, a culture of feedback is a two-way street. Encourage agents to provide feedback to you as well. This could be about internal processes, training opportunities, or your leadership style. Here’s the kicker—if you receive feedback, be prepared to act on it. Nothing says “I really don’t care what you think” quicker than asking for feedback and then ignoring it.

Conclusion: unwrapping the potential of feedback

By viewing feedback as a gift, you transform it from a dreaded critique into a powerful tool for agent development. When delivered effectively and consistently, feedback empowers your agents, strengthens your team, and ultimately leads to a more successful and thriving real estate practice. Remember, consistent effort and a commitment to fostering a growth mindset will unlock the full potential of your team.

Contact us to learn more about how our coaching team helps our broker-owners build winning cultures.