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The great resignation does not appear to be subsiding as we enter into spring 2022. One thing that the pandemic taught many Americans is that the conversation around positive work environments is long overdue.
Many brokers and team leaders have been struggling to understand what modern agents need (and want) to be successful. As a CE trainer with weekly classes, I’ve spoken to quite a lot of agents and brokers over the past few months. Here are a few common insights I’ve heard them voice as of late.
Sensible transaction fees and lower splits
As inflation is putting a crunch on many families’ budgets, agents are going to take a look at their bottom line. If agents are comparing models between franchises, they will definitely be comparing what they would have made last year to the splits they are being offered at the new brokerage.
Make sure that your splits are competitive above all else. If it’s been more than two years since you have updated your fees, it’s definitely time to take a hard look at compensation.
Business systems that work
Agents need help with database management, transaction management and customer retention. The brokerages that have these three critical systems in place will keep team members happy and attract new ones. The game-changer? The systems have to be easy to use and results-driven.
Sales training and support
This means more than just sticking them in a digital training program. Agents want real shadowing and mentoring opportunities. They want to know that you are invested in their sales success.
Easy-to-use branding
Agents want branding that looks sharp, modern and organized with collateral that is easy for them to use. Ease of use is key.
Agents do not have time to sort through 62 pages of marketing materials that they need to sit through six hours of training to even understand. They need edited collateral that is effective and will not slow down their busy schedule.
Rock-star marketing
Headshots, video and office marketing assistants are all huge assets that agents need regularly. Brokerages that invest in helping their team look professional will see two major benefits: Happy agents who brag about how their team spoils them with professional photo shoots and the ability to cultivate a consistent look for the team’s brand.
This step alone takes a brokerage from looking like a multilevel marketing hodgepodge to a power group of serious professionals.
Recognition and appreciation
All agents, whether they are top producers or part-time pros, need to know that you appreciate they are on your team. Celebrate their successes and make time to meet with them when times are good — not just when there is a problem. Have dedicated time to hear them out.
Team leaders and brokers who are too busy for their team may find that the team feels neglected or that you are giving accolades only to the top producers. Hire extra administrative help so you can be present.
Set a good example to your team about how you balance a busy schedule. Great leaders don’t let themselves run around burned out. Take care of yourself so you can take care of and maintain your team.
Don’t confuse loyalty with business
Independent contractors will have to make moves in their career to grow. Beware of toxic exits when team members jump. Stay calm and ask for feedback so you can learn from the experience.
The team members who stay are watching your every move, and the team member who leaves will definitely share how their exit went. It’s tempting to say your team is like family, but remember to maintain professionalism. You have to set boundaries.
Wrapping up
Flexibility is key. Your team needs to know that you are invested in their future success, not just the success of your business. Treat your team as well as you ask them to treat clients.
A great team is your best asset. Don’t cut corners with time or the tools they need to stand out in the crowd.
Encourage their personal development. Take time to mentor and show them the business. It’s more than free lunch here and there, it’s asking them what their five-year plan is and having a structure in place to help them get there.
It’s not just making sales goals and asking them to improve year-over-year; it’s about working hard to improve their work environment to help them meet those goals. Invest in your team and your business will thrive this year and for years to come.
By day, Rachael Hite helps agents develop their business. By night, she’s tweeting and blogging. Feel free to tweet her @rachaelhite.
