Like most real estate brokers, you know how important, yet challenging it can be for real estate agents to reach their full potential. Sometimes even experienced agents get in a rut. Yet everyone knows that the more successful agents are, the happier they’ll be. When agents feel stalled, or unable to reach their earnings goals at one brokerage, you can bet they will eventually seek out a new one. The more you can play a part in getting your good agents to be great, the more loyal they will be to you. The most dangerous thing you can do is nothing. Here are a few practical ways of motivating your good agents to reach greater heights.
Break Bad Habits and Foster Good Ones
Unlike a brand new real estate agent that is still trying to get their feet wet and learn the lay of the land, an experienced and already producing real estate agent is likely to have developed a bad habit or two. Before you can get to work in helping to break these bad habits, you and your agents need to first identify what they are. One easy way to tackle this obstacle is to invite all of your agents to one-on-one meetings or coaching sessions where you can identify areas for improvement and help coach them toward more productive activities. Create contests within your brokerage the encourage the activities you want them to do, such as holding open houses or using the company listing presentation. Provide them with a cheat sheet or calendar of activities, which if followed, has shown to produce clients and listings. However, you do it, keep this coaching a positive experience, by avoiding direct criticism and giving positive feedback on the things they are doing well.
Set Appropriate Goals
One of the most common causes of agents not reaching their full potential is not having set goals. Some agents don’t set goals at all, some set the bar too low, and others set it far too high. Unfortunately, many people simply never learned how to set goals for themselves in a way that will drive them forward. Asking your agents to complete a yearly business plan is a first step. Review each of your agents’ business plans with them to make sure they are challenging, yet attainable. It will also help ensure they are aligned with your own goals for growth. An annual team-wide workshop or webinar is a time-efficient way of educating your agents on how to set appropriate goals. Then follow up with one-on-one meetings with genuine offers to help any way you can.
Setting appropriate goals to strive for is one thing, but taking the steps to achieve them is the real challenge. A proven way of increasing an agent’s goal success rate is an accountability partner. An accountability partner is someone that your agent will trust, share their goals with, and look to for steady motivation to meet the goals that they have set for themselves. These relationships work best when both partners lean on one another for such support and feel a sense of responsibility to one another, more than just themselves. Research shows that the fear of letting someone else down for failing to complete a task or goal can be one of the most powerful motivators of all.
Encourage your agents to find an accountability partner within the team or a mentor that they are comfortable with and trust. Then do everything you can to make sure they are successful in reaching their goals.
Your Role As Real Estate Broker & Coach
Ultimately, your role as a broker is to be your agents’ biggest cheerleader. Don’t underestimate the value of encouraging them, empowering them with the resources they need to reach their goals and rewarding them for their achievements both big and small. Remember, the more junior members of your team are looking to your veteran agents as role models and your efforts to motivate the vets will have a trickle-down effect on them.
At Weichert, we believe strongly in hands-on coaching and support with affiliated broker to help lead them to business growth. We also provide the recipe and the tools to succeed. The Weichert Franchising team has spent years building a comprehensive system of training for brokers and agents of all levels in the industry. Many Brokers who join us tell us how powerful it is to be able to “plug-in” to a well-established system that supports both them and their agents.
Growing on your own can be hard. If you’re looking for a partner to help you with some of the heavy lifting on your way to the next level of success, consider a conversation with the Weichert Franchising team today or visit https://weichertfranchise.com