Office Retention – Keeping Agents Happy
Like in any office, happy workers are usually productive workers. The same goes for your agents. A happy agent is more likely to be a revenue-producing agent. Those two combined we would certainly call a win-win.
As brokers we wear many hats: managers, trainers and councilors to name a few. You’ll want to hone all of these skills and practice them regularly or your agents might start using those recruiting postcards for something other than a drink coaster for their desk.
Don’t fret, here are a few tips that might seem basic but are not often put into practice.
That is a fancy way of saying, “hey, say hello to the new guy!” When I started at my first brokerage (one of the big ones) I was all excited. There I was with my shiny new real estate sales person license, ready for those phone calls and commissions checks to start rolling in. OK, that part is normal, newbie naivety and that’s OK. What wasn’t OK was having zero direction from the manager of this branch office. Nothing. Yes, I was a part-time agent when I first started, but I still needed some guidance, at least a little.
A few days after coming around he said “Have you spoken to Sarah at the board?” Me: “Who’s Sarah? What board?” That was his way of telling me who to see at the local REALTOR® Association Board so I could, you know, JOIN and get MLS access.
Everyone is busy, but work out a compensation system to designate an experienced or otherwise senior agent to show the new agent the ropes. Besides the basics for getting them in the “system”, you will do wonders for their self-esteem which, if this is their first go at real estate they will need that self-esteem in spades.
For the longest time in the above-mentioned office I wondered when the managers might say something — I mean I hadn’t had a transaction for a long, long time and I didn’t know where I stood. Were they lax because I was part-time? Did they not notice? Or, worse was I going to be told to pack up my coasters and take my part-time hat elsewhere?
Talk to all of your new agents one-on-one. Each agent is different and they may not all fit into an aggressive, cookie-cutter commissions structure. Work out a plan and set goals together so they feel appreciated and, as such will keep their momentum going towards productive transactions.
This is somewhat related, but still deserves its own mention. You’ve gotten the agent on-board. You’ve set clear expectations and outlined attainable goals. Now, don’t do the equivalent to putting a sign in the yard and walking away. Check in with your agents and see how they are, even if it’s nothing more than “How are you?” or “What’s new with you?” It doesn’t have to be long and drawn out but do make it sincere. This can go a long way to agents not feeling like, well, one of the agents. Be accessible outside of staff meetings and business hours when necessary.
An agent that knows their broker has their back can take that confidence and transfer it to communications with potential prospects. And then? Everyone wins.