In the ever-evolving real estate industry — with its constant developments in technology and practices — it’s important that agents are adaptable. They must invest in continuing education and have a thirst for lifelong learning in order to remain at the top of their game.
Similarly, real estate firms must make training and educational opportunities available for their agents. This ensures continued success and profitability. Let’s dive into why and how these programs can be implemented to benefit both the agent and the firm.
The why
Education and training programs go hand in hand with creating a positive work environment and company culture. Employees are less likely to leave their positions when they’re given the necessary training to succeed.
According to a study by the Chartered Institute of Personnel and Development, 95 percent of hiring managers saw training programs “as a key retention tool” — and it’s not difficult to understand why. When we inspire employees, we see profitability and success for both the employee and the firm.
In fact, according to LinkedIn, 94 percent of employees would stay with a company longer if there was an investment in learning, and according to the Huffington Post, companies that invest in training see 24 percent higher profit margins.
The how
Whether it’s an aspiring agent about to pass their licensure exam or a seasoned veteran with years of expertise and practical knowledge, learning new skills is an ongoing process, and it can look different depending on the company.
For some, like RedKey Realty Leaders, continued education means arming real estate agents with coaches, sales training and the latest technology to bolster their marketing and sales efforts. To remain savvy in a competitive marketplace, agents must also stay current on real estate laws.
Are your agents equipped with a complete understanding of information that is unique to your state or community? Are they utilizing advancements in the field to set themselves apart? Are they continuing to build their resume every year with new certifications? Before building a robust curriculum, ask yourself these questions, and take some time to understand your agents’ unique needs.
It’s one thing to offer online courses, but also consider out-of-the box ways you can bring value to your agents in their journey to enhanced professional development. Training facilities, for example, are an innovative way to promote continued education while providing physical resources for agents looking to advance their careers.
This is why RedKey Realty Leaders will be opening its own training and media center in St. Louis, Missouri, designed to support agent education by making knowledge, technology and relevant resources accessible. Agent education and success are prioritized through a modern media center for marketing and sales efforts and educational courses for new and experienced agents.
Final thoughts
With thousands of real estate firms in the United States alone, it’s important that companies strive to do what they can to set themselves apart — and this means helping their agents stand out from the pack.
Why should clients choose you? How are you keeping potential new buyers in your pipeline? If harnessed correctly, technology and new media methods can greatly enhance outreach, and likewise, performance and profitability.
The more knowledgeable an agent is about various real estate topics, the more clients will trust that agent when making life-changing decisions. By offering a robust curriculum that touches on topics such as technology, marketing and client satisfaction, agents can develop a diverse repertoire of skills that will be valuable to the client and the representation and prestige of your firm.
The more resources they have at their disposal to market themselves and enhance their sales efforts, the more likely they are to thrive in a world where competition can be stiff.
During COVID-19 and beyond, maintaining a sense of curiosity and supporting education in this everchanging world will only help your agents find success. The key is adaptability and a willingness to innovate.
Jill Butler is the CEO of and founder of RedKey Realty Leaders St. Louis — an independent real estate agency created on a foundation of love, service and fun. You can find RedKey on Twitter @RedKeyStLouis and on Facebook.
