5 Ways Brokers Can Help Agents Succeed Right Now

These challenging times are testing the strength of teams and brokerages across the country. What are you doing to step up and make sure your agents are thriving?

Brokers must equip their agents with the best resources and the latest knowledge to tackle today's challenges and build a strong framework for success. See five ways brokers can help agents succeed right now!

1. Let them know how to keep home buyer leads, and lead a pivot to rentals

With inventory at record lows, the home sales market is grinding to a halt. This, of course, is alarming to the agents on your team. However, it is essential to remember that there are ways to keep business moving!

Your agents can remind their clients that the home buying process is a long one. Hopeful homebuyers can start by getting approved for a mortgage, evaluating their finances, and even taking a time to carefully consider which neighborhood will fit their lifestyle the best. As real estate experts well versed and knowledgeable about local neighborhoods, agents' input and expertise are invaluable for their clients.

Additionally, consider leading a brokerage-wide pivot towards rentals. While the home sales market slows down, the majority of renters are still hoping to move forwards with their plans to find a new home. However, with more restrictions on social life, the in-depth area expertise of a real estate agent is more critical than ever. And, unlike home sales transactions, the leasing process can take place entirely online—virtual showings, online application engines, and online leasing signing services make the job easy. Let your agents know that this can be an important way to continue business.

2. Keep up with the news and communicate regularly with your agents.

Step up and take charge. It can be tough to strike the right balance of news consumption. Of course, corona-related anxiety can be tough to fight through, but you want to stay updated and make sure you can be a reliable source of knowledge for your clients.

See if you can set aside an hour of your day for news consumption. This can be your designated time to read up on COVID-19, consider how it might interact with the housing market, and collect relevant information that will serve you and your clients in a productive way. As a leader, you'll need to be careful about your news sources. Do your research to ensure that all articles you send to your team are based on sound science and thorough analysis. Apply your years of real estate know-how and let them know how you think this will affect their business.

Compile your news sources along with a paragraph of your analysis into an email that will be an excellent resource for your team. This is also a great way to communicate with your clients, and, in turn, your agents can share information with their clients.

Especially helpful will be information about the home sales market and the rental market. Don't know where to start? Try these articles from the Rental Beast blog, and look out for more. We'll be sharing our experts analysis and best practices regularly.

• Coronavirus and The Rental Market
• 7 Tech Solutions for Real Estate Agents to Adapt

3. Develop some virtual showing know-how

Many people don't want to buy or rent homes unseen. So, how are we able to lead stand-out showings? What ways can brokers help agents gain knowledge? Good news: the real estate industry is resilient and adapting quickly to these challenges. Check out virtual showing options.

We hear this a lot, and we believe it: “We're all in it together!” Real estate agents are integral members of their communities and dedicated to finding their clients a home that fits their lifestyles and creating lasting relationships with property owners and renters. So, work with property owners and sellers to try to make virtual showings possible for your clients.

4. Education

Chances are you and your agents are spending a lot of time at home. Learning and sharpening your real estate skills is a great way to decrease anxiety, have fun, and build a sustainable business. If you haven't already built rentals into your business plan, now—as the sales cycle softens and apartments are able to rent sight-unseen—is a great time to start building rentals into your business plan.

At Rental Beast, we believe that agents of all levels should have accessible education during this difficult time. So, we're opening the doors to Rental Beast University, our interactive online education platform for all agents for free.

With Rental Beast University, you can choose from a selection of on-demand webinar courses with proven records of success. Courses include crucial topics, including rental best practices, social media skills, and converting renters to buyers. Lead the pivot to rentals and share Rental Beast resources with your team.

5. Weekly Team Check-In

Get acquainted with your favorite digital meeting platform (we recommend Skype, Zoom, or BlueJeans), and set aside time every day for a huddle. Ask your agents what's working, how they are tackling their challenges, and how you can be of assistance. Then, take some time to destress and debrief.

It's a stressful time for everyone, so share you care about your teams' mental and physical health by taking some time to come together to support each other. In these ways, brokers can help agents decrease stress for the whole team!

We know that much of your business has been affected by the coronavirus, and will continue to be affected by its spread and the necessary limits placed on public life. These ways brokers can support agents will hopefully help shoulder much of the burden and can help you carry on.

To view the original article, visit the Rental Beast blog.