Real estate is a non-linear business, which makes some feel unstable, but as a broker, you can provide that sense of balance.<\/p>\n\n\n\n
Change is a constant\u2014especially in the real estate industry. That\u2019s why brokers are so important. With the terrain constantly shifting, agents need the reassurance of leaders who\u2019ve seen it all and come out ahead. \u201cBrokers must be the calm in the storm that tells everyone, \u2018it\u2019s going to be okay,\u2019\u201d says Robert Morris, a Tennessee-based selling broker who leads real estate seminars. Here\u2019s how to give them a sense of security.<\/p>\n\n\n\n
Your experience is an asset when it comes to assuaging agents\u2019 fears. Communicate how highs and lows are part of the business, especially with agents who\u2019ve never experienced a challenging market. So, if you have stories about how you navigated similarly rough times, share them. \u201cHaving seen these things before, it gives some level of comfort that this too shall pass,\u201d says Morris, who\u2019s been in real estate for 40 years. \u201cThere\u2019ve been changes all along and we\u2019re still standing.\u201d<\/p>\n\n\n\n
Agents follow their leader. That\u2019s why it\u2019s so important to remain calm. \u201cNothing makes me panic because I have seen it all,\u201d says Ben G. Schachter, the Florida-based broker and president of The Signature Real Estate Companies and co-founder and head of sales of TotalBrokerage Software. \u201cI don\u2019t panic because the reality is when you run a large successful business, you take different hits every day.\u201d<\/p>\n\n\n\n
Along with maintaining your composure, try to project optimism, he adds. \u201cThe moment a leader shows pessimism or frustration or depression is the start of a cancerous growth in the organization. You never want that. You always want positivity, even when the market slows down. Even when you\u2019ve lost a chunk of business. It\u2019s always sunny skies ahead.\u201d<\/p>\n\n\n\n
In times of greater instability, \u201cno one needs the details,\u201d says Ruth Gotian, Ed. D, author of “The Success Factor” and “The Financial Times Guide to Mentoring.” Too many details can often be overwhelming. Instead, agents want to know their leader has made decisions based on the best available information. To ease their anxiety, keep your messages brief, she suggests. Imagine you\u2019re a newscaster and report what happened, what you\u2019re doing about it, and why they\u2019ll be OK.<\/p>\n\n\n\n
Morris will never forget an agent he knew who was struggling with his mental state and had plans of self-harm. When this agent was having second thoughts, he called his broker to talk. Unfortunately, the broker couldn\u2019t chat because they were heading to a closing\u2014and the agent went ahead with his plan. \u201cI always say to brokers: \u2018this is your flock. You need to be around to see what people are going through,\u2019\u201d he reminds.<\/p>\n\n\n\n
Your agents might not be in such a dire condition, and you are not by any means a doctor or mental health expert, but an agent may reach out when they need you, whether for a personal or professional matter. It\u2019s important that you are available and cognizant of where some agents might be struggling, and it\u2019s also important to have the resources needed to guide them to help if help is needed.<\/p>\n\n\n\n
If one of your agents is acting atypically, ask them what\u2019s going on, suggests Morris. If they\u2019re dealing with something important\u2014say, their child was just suspended from school\u2014suggest they leave to handle the issue while you and your team cover their work. Not only will they feel more at ease once they address the problem; their anxiety could distract others in the office, he explains. \u201cRemove those types of challenges to keep a good cohesive environment.\u201d<\/p>\n\n\n\n
\u201cRemind agents this is a stressful industry and it\u2019s normal to feel some kind of stress,\u201d says Morris. \u201cWhat\u2019s key is how we handle the stress we have.\u201d By normalizing anxiety, your agents will feel more comfortable admitting when they\u2019re struggling. To encourage them to share, consider creating a support group in your office, he suggests.<\/p>\n\n\n\n
To help her agents appeal to prospects and feel more confident, Cindi Bulla, broker-owner, Realty Central Services in Texas, partners with them. \u201cIt\u2019s like we have one resume,\u201d she says, explaining their resume also includes her accomplishments. \u201cI am selling them what I bring to the table for them to brag about [to their clients and prospects]. They can say, \u2018my broker partner is this, and this, and this.\u2019 If they\u2019re competing with someone with 20 or 30 years of experience, all they have to say is, \u2018you have my enthusiasm and my outside-the-box youthful approach to marketing plus all the experience my broker brings.\u2019\u201d<\/p>\n\n\n\n
\u201cWe all like to be acknowledged, to know that we matter and are making a difference,\u201d says Morris. So, give frequent awards, he suggests. Recognize agents who sell the most in dollars. But also reward those who sell the most total units or are the most helpful in the office. \u201cLook at different ways to recognize and honor people\u2019s efforts and make sure everybody has a chance of winning.\u201d<\/p>\n\n\n\n
\u201cSuccess is where preparation and opportunity meet,\u201d reminds Morris. So, encourage your agents to up-skill in slower markets. Sometimes, agents waffle when things slow down, and they have trouble figuring out how to maintain momentum. During less busy periods, remind them that they\u2019ll have time to take classes and earn more certifications, he says. \u201cThat way, when opportunity knocks, they can answer.\u201d <\/p>\n\n\n\n
National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"
Real estate is a non-linear business, which makes some feel unstable, but as a broker, you can provide that sense of balance. Change is a constant\u2014especially in the real estate industry. That\u2019s why brokers are so important. With the terrain constantly shifting, agents need the reassurance of leaders who\u2019ve seen it all and come out … <\/p>\n