In a previous blog post, How to use same-day commission payments to attract top real estate talent, we spoke about the strategies that you could use to attract the best real estate agents into your business. But what about keeping them?

Real estate can be a stressful game – not only for you as an agency owner, but also for your team too.  If the market is slow, then sales are slow – but that’s no reason for motivation to go off track.

Whilst your competitors are busy worrying about sales and putting pressure on their sales agents, it could be prime time to step up and demonstrate your skills as a boss and as the owner of your agency. After all, your team are the single most valuable asset in your agency. Treat them well and they’re more likely to remain loyal.

Here are our thoughts on how you can motivate your staff, through the good and the bad – to ensure that your agency retains the best talent and reputation in the area.

Invest in training and development
Ensure that your sales agents are given the time and resources to keep abreast of local property trends and developments in the real estate industry. Not only will your team feel valued, the ability to access the right information will equip them to better impress vendors.

Set realistic real estate targets
There’s nothing more de-motivating than being faced with an uphill struggle to meet a target that’s well beyond reach. Look at the current property market and be realistic about how many properties you expect to sell.

Support your team with the right collateral
Your sales agents will feel confident and empowered if they can back up their sales and negotiation skills with some well-presented company literature. Invest in professionally produced sales kits, flyers and business cards to help your agents gain trust and buy-in from vendors.

Provide mentorship and coaching
You may wish to consider assigning a mentor for each of your sales agents.  A mentor is someone who can guide and coach them to becoming the best sales agent they can be – without targets, KPIs or pressure. The chosen mentor (or coach) should be someone who genuinely cares about their personal development and provides constructive criticism, advice and support on where they can excel.

Place emphasis on teamwork
Ideally, your real estate agency shouldn’t have a traditional hierarchy. Ensure your team feel as though they’re on a level playing field.  Organise regular team catch-ups – not just for sales and progress updates – but to also brainstorm and investigate new ways of working. Value the opinions of your sales agents and let them contribute to the future direction of your real estate agency.

Commission advance arrangements
If you’ve signed up to commission advance services, why not pass on the benefits to your team.  Commission advance is not for real estate agencies in trouble, it’s for agency owners who want to get creative and leverage the benefits of real estate cash flow. Passing on the commission advance to your team is a great way to ensure they feel financially secure, as well as valued.

If you need advice on becoming a more productive and profitable real estate agency – or if you could use some real estate cash flow support, get in touch on 1800 003 569 or read about our commission advance services.

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