- Recognition. In today’s hybrid environment, agents need to feel uplifted, appreciated, and encouraged. Celebrate agents’ accomplishments with shoutouts during sales meetings. And be sure to show experienced agents the love; many are being recruited and offered more than ever by competitors. Try rewards, drawings, and random acts of kindness for your team.
- Local market stats. Arm your agents with stats and slides they can add to CMAs, share with their sphere of influence, and post on social media. Hint: Keep it simple. Choose a metric such as average sales price, active listings, new pendings, or your own listings taken vs. listings sold, and compare the previous month to the same month a year earlier.
- Best practices. Review what you and your agents have experienced over the last few weeks. Find common threads such as appraisal guarantees, escalation clauses, and verbal vs. written offers, and discuss how agents should respond.
- Strategies for winning in multiple-offer situations. Buyer’s agents should understand the importance of submitting error-free, easy-to-read offers. Recommend that they communicate with the listing agent before writing and presenting the offer so they can learn how to create stronger value on the buyer’s behalf. Review strategies such as increasing earnest money deposits, adding possession after closing for the seller, and working with trusted lenders.
- Inventory shortages. Ask agents to talk about their sources for business and share creative ways to find new listings. Encourage them to connect with their sphere of influence regularly so they know when properties are poised to sell.
- Rising interest rates and the effect on affordability. Talk about how rates are impacting conversations with buyers and how to respond. Be sure your agents have the tools to show how rising rates impact monthly mortgage payments. Talk about how to tailor home searches to fit buyers’ budgets and help sellers understand the challenges buyers are facing.
- The economics of real estate. Make sure your agents are always ready to explain supply and demand, home price appreciation, local and national economic forces, population migration, and unemployment issues.
Sources: Chris Hendrix, broker-owner, Century 21 Town & Country, Utica, Mich.; Andrew Hauck, broker-owner, Century 21 Signature Realty, Saginaw, Mich.