Module 4 ~ Lesson 11
Lesson 11: Retaining Quality, Productive Agents
After agent recruiting, the retention of productive agents is the next critical function of a successful brokerage or team. Retention starts with providing an outstanding office environment and building a culture of positive energy.
Whether they voice it or not, most agents really want …
A leader (broker, manager, team leader) they can trust and they know has their back, the support of an outstanding administrative team,
a professional office space with equipment and technology that is reliable and an environment (culture) that matches their value system.
Special Inman Report: Real estate team risks and rewards
- Well-run real estate teams offer agents work/life balance and are ultimately greater than the sum of their parts.
- Nearly 60 percent of real estate pros would consider joining a real estate team or starting one of their own.
Why Join or Start a Real Estate Team?
- To expand your business opportunities (56 percent)
- To be a mentor or receive mentorship (56 percent)
- To gain experience as a new agent/learn the business (53 percent)
- To provide more effective representation for clients (50 percent)
- To create an exit plan (35 percent)
Inman Survey & Special Report: Real estate team risks and rewards
The survey was conducted between Oct. 12 and Oct. 16, 2017. Of the 928 respondents, 509 (54.85 percent) identified themselves as agents, 250 (26.94 percent) identified themselves as brokers, 25 (2.69 percent) identified themselves as coaches, and 144 (15.52 percent) identified themselves as “Other.
Recognition and Retention Ideas
- Publish monthly or Quarterly Top Performers Certificate (Number of sales, Total Sales Volume, Most Sales, Most Listings, Best New Agent)
- Recognize agents at your office meetings and in Newsletters: First listing, sale, closing with your company; birthday; anniversary with your brokerage
- Share success stories that highlight your agents’ accomplishments
- Post your agents accomplishments /awards on Social Media channels
- Annual awards and recognition event
- Sponsor or participate in Community or Charitable Events
Coaching vs. Managing
Are you providing a clear direction and support for agents on your team so they can become successful in the real estate business?
The Power of Coaching!
- Proactive RATHER THAN Reactive (Being Effective)
- Reduce “Got a Minute” questions by 50% +/-
- Enables You to Identify Your “Potential” Agents for Advancement Much Sooner
- Allows You to be a Leader “NOT” a Firefighter
- Allows You to have more TIME & LIFE BALANCE
Coaching and Consulting (recurring monthly coach session / or next session scheduled once the agent has completed Action Items)
- Business Plan & Goal Setting
- Sphere of Influence/Past Client/Referral System
- Buyer Presentation, Qualifying, and Closing
- Listing System
- Farming System
- Transaction tracking and client follow-up system
If you have not already done so, go to the Module 4 Overview page and download the Workbook, Slide Decks, and all related Documents for this module.