Tag Archive For "Broker Tips" | Blog.PropertiesOnline.com

Lost Your Top Agent to Greener Pastures? What to Do Next.

Real estate sales management can be extremely challenging, especially when a really great agent sails away into the sunset. Before you fall into a black pit of despair, step back and take inventory to avoid a hard landing.

Talk to your staff
Rather than sweeping things under the rug, discuss the predicament with your team. Be honest, identifying potential hardships that may arise, such as additional workload and challenges to the business. Don’t have a panic attack – assure them things are well under control with or without the lost employee. Don’t forget to indicate any opportunities for advancement that could arise from the situation.

Reach out to the departing employee
Especially if they left amicably – you may be able to earn them back with a bigger paycheck. If they don’t accept, at least you’ll know what you’re looking at paying a comparable replacement. Be certain to conduct an exit interview, which is your best chance at an unfiltered viewpoint of your operation – not just why that person is leaving. Just be sure to leave emotion and gossip out.

Consider contacting past employees
If your experiencing a sense of déjà vu in your real estate sales management career, it may be worth reaching out to past employees who’ve moved on as well.

Don’t hurry to hire
Be proactive, not reactive, seeking the best talent with the help of a recruiter or perusing the competition’s flock. In the meantime, put out fires with a temporary assistant, or outsourcing to a virtual one until you find a top-notch replacement.

In the future, be proactive
Moving forward, consider making changes based on honest feedback from your staff to avoid other unexpected departures. And never forget, it’s often your best employees that need the most motivation.

Real estate sales management have you down in the dumps? A brighter future is possible. Make your next step with the help of Properties Online today.

Sales Awards: Are They Building or Hindering Your Brokerage?

Contests and awards are often among motivational broker tips, and have long been used in the real estate industry. They can help boost energy and sales, as well as build camaraderie and loyalty to your brokerage. However like many things in life, they aren’t all fun and games – and can come with a price tag that’s detrimental to your brokerage – and we’re talking more than money.

Have you considered these contest conundrums?
Beyond the cost of prizes and parties, contests can create…

• Unnecessary distractions.

• Unhealthy competition and jealousy.

• Feelings of inadequacy among rookies and mid-level agents.

• Significant time loss to less-fruitful endeavors.

How can your prevent these tournament troubles?
Introverts and extroverts, Boomers, Gen-Xers, and Millennials are all motivated differently. To create the best rewards without excluding your mid-level bread-and-butter, consider these broker tips:

• Think outside the box.
Designate a time period for the contest, then instead of a winner-take-all award, hand out play money for sales, property showings, open escrows, etc. At the end of the competition, host a party where ALL associates can trade-in their “moola” on the prizes of their choice.

• Go beyond sales.
Offer prizes and incentives for business-generating articles, public speaking, new agent recruitment, volunteer work, and more. Instead of physical prizes, offer higher commission splits through the next contest period.

• Use them as a motivator.
Tie contests in to brokerage training courses, then offer a prize for whomever does the best in its application. For example: “Camp 4:4:3 – Get 4 Sales + 4 Listings in 3 Months.”

• Let go of the wall plaque.
Incorporating items that are both useful and visible: Jewelry, mobile tech, higher splits… Whatever motivates your diverse group of agents.

Looking for broker tips guaranteed to better your practice? Properties Online knows the realty industry inside and out. Learn more about how we can help you boost your brokerage today.