Maintaining high agent morale is key for success in this tumultuous market
By Regina Ludes
For many brokers starting their businesses, their primary focuses are building a client list and marketing homes. Most never consider the possibility that they’d have to deal with agent morale problems.
When managing a team of agents of various skill levels, personalities and in separate locations, low motivation can strike at any time. Low morale can be attributed to numerous factors, including job boredom, a feeling of isolation from coworkers or a lack of confidence in their abilities. Most brokers have relied on experience and instincts to resolve these issues. These brokers have learned that by listening and engaging with their team consistently and honestly—and helping agents engage with each other—they can build a loyal, high-performing team for the long term.
Honor your agents
In a recent Gallup study, employees cited personal time spent with their manager as the most rewarding and motivational experience at work, far more than monetary rewards. Further, the study revealed that consistent employee engagement can improve business dividends, too, such as 81% lower absenteeism, 18% higher sales and 23% higher profitability.
That personal time can encourage loyalty, as well. “It’s important to honor your agents,” says Rita Tayenaka, CRS, broker-owner with Coast to Canyon Real Estate in Mission Viejo, California. “I want my agents to feel that I care that they’re on my team.”
A broker since 2007, Tayenaka routinely checks in with each of her 11 team members. Without a physical office, each agent works from home, relying on Zoom meetings, phone calls and emails for connection with other agents. They rarely spend time together except for when they meet in Tayenaka’s home for training.
Concerned that the lack of personal contact among team members could harm business, Tayenaka organized an overnight trip to La Jolla to unwind and reconnect. The staff loved it so much, they requested more social events outside of the office. Tayenaka has since planned outings every other month, including cooking classes, flower arranging workshops and orange picking to benefit a local food pantry. Most recently, a day-long boat trip to a nearby island allowed agents to swap stories and vent frustrations over lost sales and difficult clients.
Because these events aren’t cheap, Tayenaka makes sure to budget for them. But they are worth the cost because they have helped bring her team closer together. “Rewards mean nothing,” she says. “Physical engagement is more effective than a pat on the back.”
Let agents lead
With 43 agents on her team, Holli Woodward, CRS, broker-manager for McGraw Realtors in Tulsa, Oklahoma, recognized the need for an outlet for her team separate from the monthly sales and education meetings they’re required to attend. She began holding one-hour meetups at a local coffee shop to allow agents a casual place to connect with each other. During these sessions, held the first Wednesday of every month in the morning to allow for agents with children to attend, Woodward sits back, observes and listens. She lets the agents have the stage, and they share insights with each other about what they see in the field, what’s working for them and what isn’t.
“It’s come as you are,” Woodward explains. “There are no expectations of what they have to contribute, which is why they contribute so much.”
While the exchanges are meant to be casual, they have generated ideas for improving processes. For example, when one associate shared how they had revised language in a contract to get it accepted after several failed attempts, other associates adopted this approach. Woodward noticed a higher acceptance rate of contracts as a result.
The sessions have energized Woodward as much as her associates. “Sometimes you have to take a step back and stop being a broker,” says Woodward, who also hosts a monthly birthday lunch. “Because they’re running the show, they have more energy and excitement, and that energizes me.”
Broker Solutions
Most brokers entering the business have few places to go to guide them about human resources matters, such as agent motivation or career planning. A new platform from RRC, called Broker Solutions, now offers agent career planning and human resource consulting services to independent brokers. It was created under the premise that broker-owners should have access to the same tools and resources as major franchises.
“Broker Solutions is designed to improve not only an owner’s business, but help them grow as a CEO,” says Lisa Marshall, RRC’s chief marketing officer.
Since its launch last spring, in-house consultants have helped resolve HR matters that brokers aren’t able to address effectively on their own. Solutions are customized based on individual brokerage needs, covering everything from talent acquisition and training to leadership development and employee relations.
“We have seen broker-owners grow their teams with our support and recruitment techniques, and we have helped them bring new policies and procedures to their businesses to foster growth and development,” Marshall adds.
As for agent motivation, Marshall says the solution starts with the broker. “When a broker develops as a great leader, they can develop great agents.”
For more information about Broker Solutions, visit the RRC website at CRS.com/broker-solutions.
Photo: iStock.com/Cecilie_Arcurs
