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Forget Donut Mondays: Better Perks for Retaining Agents

April 27 2012

Small teamEvery business owner struggles to find ways to keep their team motivated, productive, and happy. As a broker, this task is especially important, because if your agents are not successful, neither can you be. And in today's troubled market, finding and retaining top agents is absolutely essential. If you've stuck to traditional motivators – like Donut Mondays or Hawaiian Shirt Fridays – it's time to get with the program and explore more leading-edge options.

1) Healthy Habits – Nutritious Snacks and Exercise

A great example of someone doing this right is Krisstina Wise, broker with the GoodLife Team in Austin, TX. As she shared in our recent Follow the Leader article, she believes that a healthy mind is only possible with a healthy body. She helps her agents maintain their healthy bodies with group exercise initiatives and education about healthful habits.

How do you do this yourself?

  • Stock the office cupboards/refrigerator with good-for-you snacks like fruit, vegetables, hummus, nuts, etc.
  • Replace Donut Mondays and cake on birthdays with healthy alternatives (like strawberries and sparkling cider or a salad bar lunch)
  • Get active together. Bring in a fitness instructor to provide a class for your employees. Put together a team to participate in your local intramural baseball league.
  • Pick a cause and ask for volunteers to run/walk in a 5K, 10K or half marathon.

2) Technology Training

Your agents' time is best spent on generating leads and serving their current buyers or sellers. Instead, they may be spending time trying to wade through all of their options for technology products. Just determining which product to use, let alone learning how to use the product once they've chosen it, can take hours upon hours.

Instead, you can become their technology guru. First, you can take on the role of researching, selecting, and providing technology solutions. Then, you can help to train your agents about using the products. Host in-office classes and one-on-one coaching sessions.

In addition to training on specific products, teach your agents about more general tactics. I attended a great meeting at a Century 21 office – the broker had arranged for experts in a variety of different fields (SEO, yard signs, and Web design) to come in and give short presentations to their agents. As I was leaving, I could see that the agents were excited about the new techniques and tools they'd learned about. They were talking eagerly amongst themselves, the presenters, and the brokerage management. It was inspiring.

Your REALTOR® Association or MLS is also likely to have regular training classes. Be sure to attend these yourself as a leader and encourage your agents to join you. MLS and REALTOR® technology tools are among the least utilized member benefits.

Lastly, RE Technology publishes numerous invitations to attend webinars. It is a great way to engage in distance learning. You can subscribe to be notified of webinars through RSS.

3) Powerful Brokerage Branding

In a highly competitive market like real estate, it's tough for agents to differentiate themselves. Their task becomes easier when they have a powerful brokerage brand behind them. If your brokerage has earned a reputation for excellence, your logo on their business card or website can inspire confidence in the agent.

It is important that your agents realize that individuality is important, but working together as a team in support of the broker brand is a more important. Agents should always clearly lead with the broker brand in all of their marketing efforts, pronouncing it ahead of their own branding. Research proves that response rates increase with this approach.