Back

Dear Real Estate Brokers, Inspire Your Team

By Cole Editoral

Brokers-

Times they are changing.
But then again, the real estate market has never been immune to the upswings and downfalls of the economic universe
As a broker, you have navigated the hot and the cold, the good, the bad, and the ugly. And while you may be a seasoned veteran to weather any storm, how do you inspire your team of agents to do the same?

 

Host a business plan party

Make it fun!

Sometimes the thought of creating a business plan can be daunting or feel overwhelming, especially while juggling clients. As a result, some of your agents may be unprepared for a challenging market.

Take an afternoon to help them feel empowered, motivated, and in charge of their own success.

Before you meet with your team, fill out this Business Plan Health Check from Cole Information.

Instead of filling it out for your brokerage, complete the business plan lens of your “perfect agent”. What would you like your team to look like? What kinds of goals would you like them to set for themselves? This will be the example you share with all of your agents.

If you have a team that can come together and meet in person, buy them all lunch and makes them feel like the stars of the show because, let’s be honest, they are!

If you have to host an internet meeting, encourage everyone to share their cameras and their microphones so you can all feel like a part of the party. Before the meeting, text, or email a gift card for a food delivery app so they feel taken care of and let them know that you value their time.

During the meeting empower your team to succeed.

Praise those agents who make those cold calls and seek out new opportunities. Address those marketing myths that may be making your team apprehensive. One of the most pervasive myths is that in uncertain times, you should decrease your advertising budget. If your agents fall prey to this, you both lose money.

Remind them that if they stop advertising, they lose potential clients. When they lose potential clients they lose money. When they lose money, they’ll have to decrease their budgets which means less advertising. Less advertising means losing potential clients and… well… they’ll get the picture.

When you demonstrate your myth-busting power, you show your authority over real estate and you reinforce your position as a meticulous provider.

Then show them your business plan evaluation form. Break each section down bit by bit. Take away the fear. Take away the anxiety. Show them that they have the power to direct their own plan.

Encourage a shared experience

Some people can harness the power of the big picture. Others pay special attention to the details. When you get these people together to share their thoughts about business planning, they can learn on each section individually and then come back together as a team about what they wrote. 

This helps your team create a winning real estate business plan. And when your team wins, you win. 

If you have a break room or a coffee closet in the office, make copies of their plans and put them on display. Take note of the timeliness they set for themselves and check in with them appropriately. Reward their goal achievement. Take them out to lunch or send them flowers. Let them know that you see their hard work. 

As an agent, especially in times such as these, you can easily feel isolated and alone. Some people feel anxious and are scared to step out on their own. Others default to the lack of accountability and will coast on the status quo. 

By individualizing the business plan but incorporating a shared experience, you create a natural path you can use to check in with your agents. When everyone is aware of each other’s goals, those who may have felt isolated may instead feel comforted. Those who may be inclined to coast may instead rise above the waves if they know someone is going to check in with them and praise them for meeting their goals. 

In an ever-changing market, it can be easy to walk away from what’s difficult and to avoid the unknown.

Instead, use this time and this evaluation plan to encourage team building, promote accountability, and to help your agents grab hold of their futures. Motivated, informed, and determined agents not only sell more for themselves, but they sell more for you. So even though times are changing, everyone can still win. 

Questions?