As we start a new year, brokers are thinking through how to adapt, adjust and grow their teams. And more important than growth for the sake of growth is making sure that every new real estate professional is adding the greatest value to your business – and this goes beyond commission numbers.
Here are four considerations to help attract, and retain, the right real estate professionals:
Happiness
Work-life balance has never been more important to agents, and happy agents are more productive agents, which is good for business, too. Beyond empowering your team with agency and flexibility, you can foster happiness in other creative ways as well.
Real estate agents are some of the most passionate people in the world. Encourage your agents to channel their passions into real estate, whether that translates into agents who love to ski, selling mountain homes on the slopes or pro-athletes turned real estate professionals helping their teammates seamlessly relocate. This is the type of specialized expertise only someone who is truly passionate about a certain lifestyle can bring, and it’s the secret ingredient to creating truly memorable client experiences.
The only thing that can spread faster than happiness is negativity. Foster happiness in your brokerage by paying attention to both the personal and professional details of your agents and staff.
Impact
Agents want to feel like they have the power to impact their brokerage – that they’re not replaceable or just numbers on a bottom line. The best brokers learn to delegate, giving agents ownership over certain aspects of the business where they can really shine. Listen to your agents, you never know where the next amazing idea will come from that will make your business better. This provides a feeling of personal investment.
Alignment
The most successful broker/agent relationships develop out of an environment of shared values. Not every superstar agent will be a fit for your brokerage, and that’s okay. It’s more important to find the right alignment for a long-term, mutually beneficial relationship.
What are the cultural elements that set you apart? Why do people like coming to work for you every day? Why do clients like to work with your agents? As a broker, make sure you are able to articulate the answers to these questions to prospective agents. It will help both of you determine at the outset if the fit is right.
Leadership
Reputation matters. According to the National Association of REALTORS®, one of the most important factors a consumer considers when hiring an agent is reputation, followed closely by the attributes of honesty and trustworthiness. In turn, agents are looking to join brokerages that offer brand equity and are trusted within their community and among other real estate professionals.
As a broker, it’s up to you to establish and maintain that reputation. Agents want to have access to their leaders in order to be able to learn and grow. It’s important to model the behavior you’d like to see from your team and to actively demonstrate your commitment to excellence. Establish a clear vision and stay visible, and the right agents will follow suit.
Top agents strive to continually be the best at what they do. By considering how your brokerage cultivates happiness, a sense of ownership, shared values and opportunities to learn and grow amongst your team, brokers can be sure they’re attracting professionals with the drive to continuously do more, be more and raise the standards for service not only within your company, but within the community and the industry as a whole.
At Engel & Völkers, we are about aligning with the right people with a shared vision for limitless opportunity. Join a brand that prioritizes happiness, empowers impact and embodies exceptional leadership. Learn more.