Awards & Recognition: Why A Little Can Mean A Lot in Retention

One of the biggest challenges that even the most experienced real estate brokers face is constantly keeping their agents motivated toward achieving their goals. This is because the real estate industry poses many challenges – and there is a lot of rejection that goes along with the job. Your ability to support your agents and provide them with positive reinforcement can make them much more appreciative, less likely to leave you, and much more motivated to contribute to the business. If you’re looking to reignite the fire in your team and get the ball moving again, try some of these ideas:

Build A Culture of Support

You have probably heard many people talk about things like “company culture”, but maybe you’ve wondered how that is ever implemented in a meaningful way at a brokerage. At Weichert, we believe that getting this right is one of the most important elements of keeping your team in place over time. One way to build this culture is through awards and recognition. They don’t have to be elaborate ceremonies, or expensive gifts, but public and regular recognition of achievement is a proven way to create positivity in your environment. It can appeal and motivate your entire workforce in a way that transcends money. Recognition tells people you notice and you care about the big and little things they do. Recognition will go a long way in creating the culture of trust and support that every broker should want.

Everyone Enjoys Being on a Winning Team

Everyone is an individual and is motivated by different things. But if there is one thing everyone has in common, it’s that they want to be on a winning team. Being recognized, seeing their colleagues recognized, celebrating collective milestones and achievements of the brokerage all contribute to positive feelings throughout the company. Everyone is working toward common goals, they can visually see progress being made, can cheer each other on and celebrate success. In short – it just makes everyone feel good! Who doesn’t want to be part of that? That energy motivates a team to continue to move forward and is especially powerful to have in the bank to get tough times.

Recognize Success at Many Levels

Awards, or acts of recognition, both big and small, both public and private, do a number of things for you and your agents. So what are some of the things you can recognize?

1. The closing of sales is an obvious cause for celebration
2. Monthly awards such as Top Listing Agent, Top Closing Agent, Most Homes Shown, or Most Open House Traffic
3. How about a distinguished service award for someone who volunteers at a charity in the company name? Or who generates the most donations for a particular drive.
4. End of Year recognitions based on GCI or Transactions. Create different levels. Recognize your best Rookie.
5. You can recognize people for particular skillsets or expertise they possess, such as your client management system or recognize an agent for delivering the best listing presentation, most phone calls made, most direct mail pieces sent. Use your imagination, but keep it real.

Brokers Need Motivation Too

As a broker, you are constantly leaned upon to play the role of the fearless leader and keep your agents motivated. However, you also deserve to have a support system that empowers you to stay motivated, improves upon your success, recognizes your achievements, and helps you grow as a leader. Who helps motivate you and encourage you to keep going?

When you partner with a franchisor like Weichert, not only do you get the coaching and guidance to help you implement awards and recognition in your office, but our coaching team is there to support and cheer you on as an owner. Plus, we support a national awards program that recognizes both agent and company achievement. This includes an annual season of local events that take place around the country, where members of your office as well as from fellow franchisees in your region will come together to congratulate, celebrate and cheer each other on. It’s all just another way to be in business for yourself, but not by yourself. After all, everyone likes to be part of a winning team.

For more information about how you can be part of the winning Weichert brand, visit www.weichertfranchise.com or call 877-567-3350.