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How to Improve the Performance of Your Real Estate Agents


Many people believe you don't need much skill to sell and rent houses. From their perspective, real estate agents are nothing but glorified presenters, paid to show prospects properties on the company's listing. However, you would be surprised by the job's intricacy.


Many people believe you don't need much skill to sell and rent houses. From their perspective, real estate agents are nothing but glorified presenters, paid to show prospects properties on the company's listing. However, you would be surprised by the job's intricacy.

Anyone who wants to get into this business has to pass exams and earn a license. After that, real estate agents need to get acquainted with the local market and be on the lookout for various fluctuations. They should also learn more about each property to showcase all the advantages to the potential clients.

Most of all, these experts are the ones who have to put potential clients in the mood for shopping. Real estate agents set the scene and can be difference-makers for many deals. Given all that, it shouldn't be surprising that some struggle to make a living. Luckily, there are numerous things you can do to improve the performance of your team!

1.    Sharing Knowledge

There are significant differences between houses in one area of the city compared to another. Real estate agents must consider many factors, such as public transit, safety, local amenities, and proximity to the city centre. Lacking certain information can make your employees lose lucrative deals that are easy to close.


As a manager, you must teach your team about all these things. Ideally, you should have a long talk when they start working, explaining the features of various zones. Managers might even consider creating a file that would disclose all this info that they can repurpose for future employees.

2.    Understanding Trends

The real estate profession is proactive. Even if you had a few great months, you can't rest on your laurels for a moment. Supply and demand change constantly, also changing property prices in certain areas. You also need to understand the financial challenges that future buyers have to tackle.

Both managers and their staff should be in the loop with what the competitors are doing. They should check their sites every once in a while to see if they have implemented a new technology. Real estate agents should also know about competitors' fees because this information can persuade certain users to sign a contract with their company.

3.    Creating a Network

Every real estate agent needs to create a personal network of connections. In addition to staying in touch with past clients (especially those who rent), they need a list of partners and referrals. Remember that many people change homes several times during a lifetime, so it wouldn't be a bad idea to get several commissions.

However, there's more to networking than making extra money. By connecting with all these people, agents can also increase their reputation within the industry. As a manager, you need to stimulate the process and share your connections with employees who show promise. All of this will increase the company's reputation and, in turn, help you land more clients.

4.    Giving Awards

The best way to motivate your staff is to provide bonuses and rewards. Most agents are money-driven, and you can increase their loyalty toward the brand by providing periodic bonuses. In fact, stimulating them in such a way can also boost performance and make them more dedicated to their work.

Managers should also consider real estate awards. You can organise company events every year during which you'll give out trophies and other prizes to best-performing employees. Not only does this increase loyalty toward the brand and the colleagues, but it will also stir up competitive spirits.

5.    Providing Technology


A handyman is only as good as his tools; something similar can be said for real estate agents. Business owners need to secure the most advanced software for the team, thus simplifying their jobs. The most important software is the one that you use for the website, as it allows better browsing for everyone who visits the platform.


CRM systems, in particular, are great for real estate agents. These programs help agents streamline all contacts and communication within one dashboard. They can easily access clients' data and check past dealings and contracts. By connecting through social media, experts can update prospects about changes in terms while staying on their minds.


6.    Setting Goals


Another way you can motivate your employees is by setting goals and KPIs. Managers should always push their staff to that next level, as long as they don't suffer burnout. These objectives should be realistic and well-defined; they should also be in accordance with your long-term plans as a company.


It's vital that your agents understand the reasoning behind these goals. While most are in it for the money, they still won't feel good being pushed beyond the limit. So, by explaining how the entire process would affect the company and, in turn, them, you will put them in a position to succeed.


7.    Providing Feedback


The biggest mistake managers make is not having a hands-on approach. Given this belief that real estate is all about property quality, business owners often disregard poor performance and chalk it up to the market. However, as you might realise, some of your newer agents might be making mistakes, preventing them from closing great deals.


Because of that, you need to provide your team with lots of feedback (especially pertaining to new team members). Monitor their work and look out for trends. For example, some might struggle to sell in a particular zone or a specific type of property due to a lack of knowledge. If you notice a pattern, try to iron things out with your agents and help them overcome the hurdle.


8.    Using A Humane Approach


The real estate profession is quite hectic. Not only do managers push their staff, but many employees also have high standards for themselves. As you start spending more and more time in the office, friction is bound to happen between employees. In these situations, it's vital that you react the right way and provide support when needed.

Managers need to deflate all these situations and approach conflict humanely. Help struggling employees and give them some free time to recover from personal issues. Always remember that people are not machines and might need some assistance every once in a while.  


Conclusion


Business owners can use various tricks to stimulate there real estate agents. Besides providing them with the tools and knowledge, they should also create a welcoming environment where these professionals can thrive. By following the tips in this article, you'll be able to supercharge their performance and set the basis for a successful, sustainable brand.




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