6 Simple Ways to Motivate and Coach Commercial Real Estate Salespeople
Throughout the business year, the sales team will require motivating and coaching to keep them on track through all the pressures and changes of market activity. It is incumbent on the sales team leader to ensure that the necessary motivation and direction is available for all agents and other brokers within the group.
The best way to handle this strategy is to identify skills and challenges applicable to each real estate agent, to help them establish a business plan and goals process, and then to guide them throughout the year as they move through predetermined key performance indicators.
Review your team regularly. Understand their strengths and weaknesses so that you can provide the necessary direct training and motivation in each case. The strength of the sales team leader or agency manager in doing this will largely impact commission generation and listing activity throughout the year.
Here are six ways to motivate encourage the sales team in any commercial real estate brokerage:
- Allow each member of the team to set their goals and targets based on their priorities. That should be done prior to the commencement of every financial year. Give each team member two weeks to establish their plan and then have a meeting to discuss where they can explain their priority and opportunities. Goals and targets should be documented in a business or performance plan for each agent.
- Every sales meeting should include a strategy of stories shared from the marketplace; get your top agents to share their experiences when it comes to meetings, listings, presentations, and negotiations. From that process you can add the necessary role playing and skill development to resolve any client or listing issues. That also then lifts the relevance and interest in sales team performances across the group.
- Take every agent through a simple analysis of strengths and weaknesses. Get them to agree with you regards their advantages and the opportunities in the market today. The strengths of an agent should be encouraged and consolidated through training and development. Any weaknesses should be resolved through retraining or the provision of resources.
- 'One on one' coaching should occur when necessary with the right agents that show the commitment to the process. Coaching will only be successful when habits have changed and opportunities are seized. Far too many agents start a coaching process then fail to follow through when it comes to changing critical habits and developing new business processes. If you are going to implement a 'one on one' coaching program within the brokerage, ensure that you have the commitment of the team to the process. Personal counseling and key performance indicators should be integrated into the 'one on one' coaching strategy.
- Every agent will have a different approach to the industry, their listings, the property market, and the clients. They will also have different ways of approaching the business and the daily activities involved. Allow each agent to approach the market in an efficient way with due regard to their business skills and levels of focus. Help them see how they can improve performances based on their work preferences and current business plan.
- Make big issues simple. Encourage the members of the team to break the bigger issues down into small incremental steps. Any large change in business activities or business habits can be broken down into a number of different and yet simple things. Key performance benchmarks will help the process. That is how any agent or broker can be encouraged to bring about valuable change and an improvement in personal habits.
From these six simple strategies and activities, any agent or broker can be encouraged to improve performance and change personal habits in the commercial property market. That is the only way to encourage improvements in a relevant way with the things that really matter.