Effective management as an agent retention tool – RISMedia |
Most agents, at some point in their careers, consider the possibility of changing their business affiliation. It may be an occasional assessment that they themselves think about, or it may be part of a concerted recruiting effort by another broker. With all the different business models and the ever-changing nature of our industry, this is a normal occurrence, and we can expect it to always be a part of our industry.
As a manager or broker, the ability to retain your agents through these inevitable considerations is, in large part, dependent on your relationship with them and their perception of your value to their business. You can reinforce this value – and subsequently strengthen the long-term retention of your agents – by deliberately following these three tips:
Be a sales manager, not just a manager: Effective sales managers do more than solve problems and oversee office administration; they hire agents both individually and in groups to constantly motivate them and help them increase their sales. This includes business planning, training, coaching, and accountability, and it should be a part of every day, week, month, and year.
Beyond that, you need to market yourself and your business by constantly strengthening your brand, tools, culture, and ideas. Weekly sales meetings are a great opportunity to do this and are your best advertisements for long term retention. Use them to remind agents of your strengths and review technology tools and strategies unique to your business that they can use to increase production. Better yet, ask agents to share success stories of using them in your meetings. Build interest every week with a teaser email and make it an exciting and valuable part of your agent’s interaction.
Set the pace: Focus relentlessly on announcements and sales. As a manager, don’t spend too much time on administrative communications, news and social events, or other non-sales issues that take away the sales culture that is necessary to increase sales output, increase revenue and become successful agents. The speed of the leader determines the rate of the pack, so always keep your focus on sales, and your agents will feel less compelled to look for that culture of success elsewhere.
Read, read, read: You need to stay ahead of the industry and your competition by being the authority figure for your real estate agents. This will make you the go-to person for planning, guidance and other matters. By the way, this includes not only external industry information, but internal expertise as well. It is imperative that you are fully conversant with your company’s tools, policies, and other resources so that you can recommend and apply them to each agent’s individual business.
Again, at some point, each agent will look at their own options and consider whether a change in brokerage makes sense. But when you make yourself a sales manager who is actively adding value to your agent’s business, you make yourself irreplaceable. When this is the case, your agents will find that they can’t take you with them and they will be less likely to leave.
In short, you are your own most powerful retention tool. Engage, set the pace, and be the expert, and you’ll follow a proven path to keeping your agent roster stable, productive, and loyal.
To find out how Sherri Johnson can help your leadership team implement a high impact approach to sales meetings, recruiting and agent retention, contact us. Here.
Sherri johnson is CEO and Founder of Sherri Johnson Coaching & Consulting. With 25 years of real estate experience, Sherri now shares her proven methods through nationwide coaching, consulting and speaker services. She is a national speaker for the Homes.com Secrets of Top Selling Agents tour and is the official real estate coach for McKissock Learning and Real Estate Express. Sherri was named RISMedia Real Estate Newsmaker in 2020 and 2021 as an industry influencer and thought leader. Sign up for a free 30-minute coaching strategy session or visit www.sherrijohnson.com for more information.