In the constantly changing real estate industry, how do brokers furnish their agents with the knowledge and tools they need to succeed? To keep pace with evolving trends and developments, it’s essential to embrace a continual education approach. Real estate firms that maintain targeted training programs develop strong teams that are well-equipped to serve today’s clients.
According to the Association for Talent Development, companies that offer comprehensive training programs have 218 percent higher income per employee than companies without formalized training. In addition, these companies enjoy a 24 percent higher profit margin than those that don’t invest time in training and development. Ongoing education programs strengthen and expand the skills of agents in all stages of their career, enhance company culture, and help agencies retain top talent. As a result, both agents and agencies enjoy sustained profitability.
Below are some of the top strategies real estate firms can implement to foster agent growth and company success through comprehensive coaching, ongoing education, and proactive training programs.
Offer On-Site Coaching
Agents should never stop looking for opportunities to improve their ability to best serve clients. Consider providing an on-site development coach who will contribute to the professional growth of your agents and help them achieve their goals. One-on-one consultation with an industry expert who understands the company’s unique mission and culture is one of the most effective ways to nurture agents’ growth. Consider offering 30-minute training sessions once a week to any agent looking for guidance and support. Agents will also benefit from a variety of hands-on training that goes beyond the theoretical and offers strategic, actionable solutions. Ensure your professional development coach is available to work with agents to fine-tune their organizational skills, create effective follow-up tactics, enhance marketing efforts, and improve technological know-how (specifically with CRM platforms). The personalized support and readily available advice provided by an on-site coach is a worthwhile investment with long-lasting benefits.
Bring in Renowned Speakers
One of the best ways to inspire and motivate agents to reach their full potential is to connect them with independent thinkers who are moving the needle in their respective industries. Do this at times when all your agents will be gathering in one spot, such as at companywide weekly sales meetings or retreats. Bring in authors, thought leaders, and experts in the field who present rich sets of ideas on a variety of topics. Inviting speakers of different backgrounds with distinctive experiences and specialties empowers agents with diverse market knowledge. Examples of topics that will resonate with agents include how to implement high-caliber marketing for your practice, establishing oneself as a leading source of luxury sales knowledge, and successfully selling or acquiring a thriving real estate business.
Be Mindful of the Technology Learning Curve
If harnessed correctly, technology can enhance performance, efficiency, and satisfaction for real estate agents and their clients. However, just like real estate, the technology industry is an ever-changing animal. Not all agents are technologically savvy, so it’s crucial to offer various learning opportunities to finesse these skills. If your firm is using a CRM platform for lead generation and maintenance, make sure you carefully outline best practices and procedures to new team members and provide ongoing support. Provide similar assistance for agents who want to leverage social media to reach clients. Have an on-site director of technology development and encourage agents to work closely with them to ensure they feel confident about executing tasks and organizing information and data.
Make Training an Ongoing Priority
Never subscribe to the notion that training is something that only happens during the first 90 days on the job. Anyone who’s passionate about this profession is eager to learn how to be better, and these days, the best agents have multilayered skills in business and administration, marketing, law, and economics. Sustainable success and agent longevity starts with recognizing that your agents need access to helpful resources and continual support to operate at the highest level.
In our modern, rapidly evolving world, access to ongoing education is a must for real estate agents to thrive, whether they are brand new to the industry or have years of experience. Agents who have convenient access to inspiring expert speakers, professional development resources, and technical support and guidance will be well-positioned to succeed. A commitment to elevating your agents’ skill sets is a commitment to growth and profitability. Investing in continual learning enhances corporate culture and the bottom line; it not only benefits individual agents but will also make your entire organization stronger.