Motivating sales people like real estate agents can be tricky. Each person is unique, and he or she brings a different skill set and different personality to the agency. Finding ways to motivate everyone can truly be challenging. Let’s look at a few ideas to help get you started.
One method of motivating that might be seen as controversial is a negative tool. If one of your agents isn’t producing, consider taking a client from him or her and giving that file to another agent. You might be surprised how quickly the first agent finds a lead and closes the sale. They don’t want to lose the income, certainly, but there is also a pride factor involved. No one wants to be seen as being unable to perform their job.
If, however, the agent doesn’t end up quickly finding a buyer, you can take the property listing and give it to another agent. Find one who might be struggling, and by giving them this one, it can be seen as both a challenge and a reward. The challenge is that of course no activity has happened for a few months. The reward is that this second agent feels that you have the faith in them to do the job right. Many people love to solve problems, and this plays right into that.
Another upside to shuffling inventory to another agent is that it results in a change in attitude. It’s amazing what an attitude adjustment can do in terms of producing better results. You’ll see some people will also make excuses as to why they cannot perform, instead of finding ways to do better. The happier performers will find ways to produce and make things happen.
Another way you can motivate your agents is by instituting a quota of homes they must sell in a given amount of time. Anyone not making their quota will face a sit-down review and a performance action plan at the end of that time. You will clearly be able to see who is a self-starter, and who needs a little extra help.
You will also be able to see better who needs to attend some training seminars. More knowledge about current trends often gives agents a step up and allows them to blossom. Armed with information, they can take on the other agents in the office, and other agents in the market much more effectively.
Quotas for the all-stars are merely stepping stones. They will take the challenge and run with it, and often completely blow past the set amount. They might even find the quota to be a bit silly, but still have fun with it.
Above all else, you’ll have to take some time to get to know your agents. You’ll have to find out what motivates them each day. Ask them what obstacles might be in their way that you can remove. Encourage them to talk to you – you don’t know everything automatically. An open door and a friendly environment are great beginnings to improving the morale in the office.