Agent Satisfaction in Your Brokerage
6 Key Things to Ensure Agent Satisfaction in Your Brokerage
It’s easy to associate a successful real estate agent recruitment strategy with attractive compensation packages, employee referral programs, and great company culture. Definitely, these are things that can entice and make talented agents take note of your brokerage. However, these are not the only things that you have to think about when developing and improving your recruitment program. You should also focus on what happens after the candidates get hired.
This means that your recruitment strategy’s success hinges on turnover rates remaining low. Once you get people onboard, you should then focus on keeping them happy and cultivating long-term relationships with them. Not only will this prevent frequent resignations, but also positively influence productivity.
That said, here are six things you need to do to ensure that real estate agents are happy in your brokerage:
Invest in Their Professional Development
Talented real estate agents are always looking for ways to become more productive and develop their careers. Support them in this endeavor by providing them with the tools to make their jobs easier and boost their professional development.
Some of the things you can invest in include real estate software and other technological tools, as well as training and up-skilling. Mentoring is also an important component of employee satisfaction. What’s great is that investing in your agents’ professional development is also beneficial to the company. The more skilled your people are, the better their output and the more efficient.
Say No to Micromanagement
Some smaller real estate companies may end up falling victim to micromanaging their agents and the rest of their staff. However, it’s never a good practice (whether your agency is big or small). Micromanagement doesn’t allow your people to grow, not to mention develops a negative culture. This then results in low morale and a feeling of detachment towards leadership.
If you find that some of your agents need a bit of help, don’t be aggressive in asserting your authority. Instead, find that headspace where you can guide them towards the right direction. You should also learn how to delegate and trust your people. You hired them because you believe that they have the necessary skills. Show them that you trust them and watch how they flourish!
Recognize and Reward Hard Work
Real estate agents—indeed, all employees—are more motivated when they know that their hard work and excellent performance are appreciated. Thus, when your people do well, make sure to recognize and reward them. It can be something as simple as announcing the achievement through a staff meeting or a blanket email, and then giving the person a small token.
When it comes to rewards, think of something beyond monetary bonuses. Perhaps you could give them an extra paid day off or a gift certificate for a brand that they love. Of course, make sure to set achievable and realistic goals for your agents. It won’t matter if you give the best incentives to top performers if the targets are impossible to reach.
Help Ensure Their Good Health
Workplace stress can cause various health concerns, including chronic fatigue, high blood pressure, and even digestive issues. When your agents are sick, they’re also less productive. This means that taking care of your employees’ health is as beneficial to them as it is to your company’s bottomline.
Help ensure your real estate agents’ good health by ensuring that they take breaks from work, including vacations. If they do get sick, give them enough time to recuperate. In the office, provide healthy snacks if you can. At the very least, there should be a constant supply of clean water for drinking. If you can’t provide in-house gym facilities, consider discounted gym memberships.
Communication is an important element of employee satisfaction. After all, if you don’t know what your agents’ concerns are then you won’t be able to address them. Make sure that you have multiple ways of getting in touch, whether it’s through email, phone call, or even social media. Don’t forget to give some one-on-one time to an agent who might need it. Lastly, make it a point to conduct general meetings so that everyone can stay in the loop.
Most importantly, learn how to listen. It won’t matter if you have all the channels of communication open or if you hold weekly meetings, if you don’t welcome and seriously consider feedback and suggestions.
Encourage Socialization and Strong Connections
According to surveys, employees are more satisfied at work if they have developed close friendships with their colleagues. Help facilitate this by setting an example and providing ample opportunities to get together. These could be in the form of team lunches or dinners, events such as volunteering at charities, or even the occasional office party. When your agents have strong relationships with their fellow employees, they’ll be more engaged and content.
Remember that it’s easy to hire a good agent, but it’s also easy to lose them. Making talented agents stay in your real estate company takes a lot of work. Nevertheless, the effort is more than worth it. You’ll even spend less money because it costs less to keep your existing people than to hire new ones. Keep these tips in mind to help you ensure employee satisfaction and foster loyalty.