You’ve done all the legwork. Set up the right tools and processes. Assigned roles to each agent. Leads are now flowing in and achieving your yearly goal seems like it isn’t too far away.
But as months pass by, you notice a little, annoying trend. Your team begins to slack off and motivation takes a hit. What went wrong? And what do you do to get your team fired up again? When it comes to team motivation, many brokers often opt for monetary compensation.
But higher pay doesn’t always equate to more motivation.
Even on a brokerage with a high commission structure, many agents are usually not motivated enough to deliver quintessential results. However, good leaders know how to pull the best out of their real estate team even without spending a dime. That said, here are three proven ways to motivate your unmotivated real estate team.
1. Spend More Time with Your Team
The first step towards motivating your real estate agents is to know them better.
Know what motivates them. Are they motivated to provide for their family? Are they trying to pay off debt? Or perhaps striving to enhance their career? Whatever the goal is, if they feel their work will help them achieve it, they’ll be more motivated and perform better.
And to know what makes them tick, you’ll want to spend more time with them. Personal time and attention from a manager is cited by workers as one of the most motivating experiences at work. So make the habit of meeting with individual team members from time to time.
During those meetings, talk about their goals. Figure out whether they are on track and devise ways to help them achieve those goals. Consequently, make sure your agents are receiving the benefits that motivate them to keep working for you.
2. Give Sincere Recognition
The modern workforce is looking for continuous recognition from their managers—which is a key component to feeling motivated each day.
In fact, 75% of employees say a simple recognition from their managers would improve their morale, according to a recent Reward Gateway research. Effectively motivating your team could be the difference between excellence and mediocrity.
But how do you give a sincere recognition?
Instead of just saying “you performed well today,” focus on recognition that highlights the aspects of their job that stood out. You could also offer public recognition to ensure that every individual contribution is visible to the rest of the team. This can be achieved by creating visible leaderboards or any draft that can keep a public tally of team rewards.
3. Train and Mentor Your Team
Just because they hold a real estate license doesn’t mean they’re going to walk off the bus like Ben Caballero—a top-ranked US real estate agent who has hit $2 billion volume in a row.
You want your agents to perform, you have to arm them to do so. As the owner of a brokerage, you’re probably a top-performing agent yourself and the most experienced member of your team. Show your team the loops of the business and introduce them to industry leaders and mentors.
As time passes by, steer them down a path to success by walking with them in each step of their journey. Develop a communicative relationship that will not just enable them to close more deals but also teach them how to build fruitful relationships.
By following these tips, you’ll certainly be able to motivate your team to perform better.