This post was a published in a recent Texas Association of REALTORS® blog.
Happy agents are revenue-producing agents, and part of a broker’s role is to help them stay that way. If you don't, they will probably find their way to another brokerage. Try these tips to retain your agents and keep your sales on track.
Give a lot of feedback
Feedback is necessary for your agents to hear. Providing it shows agents you’re paying attention to their work and care about their success. Positive feedback can be given informally, such as in an email or handwritten note. Publicly acknowledging agents for their good work, whether through a formal brokerage program or by singing their praises with others, also shows agents they’re appreciated. But don’t forget about sharing constructive criticism. When possible, this should be delivered in person so that your body language can help you convey the right tone.
Agents need your guidance. Even if your brokerage operates virtually, make sure your agents know exactly how (email, text, phone) and when they can reach you.
Clarify your expectations
One reason agents leave a brokerage is because they feel they have to live up to unrealistic expectations. While it's OK to set high standards, make sure you clearly communicate what your standards entail and the benchmarks or goals you want to them to meet. You should also make sure agents know about the company culture, what your firm stands for, and what behaviors are appropriate.
Offer the right tools and training
Agents have to adapt to clients’ expectations, and that often includes having knowledge about and access to the latest technology, marketing, and communication tools. Your agents will have a hard time meeting those client expectations if you’re not willing to provide consistent training and experiment with new ways of doing business.