BrokerageIndustry Voices

Brokers, here’s how to provide value beyond financial incentives

Changes markets mean focusing attention on the level and quality of your brokerage's support.

As dynamics and market conditions have changed, it’s important to reflect and take time to adjust to the new environment, pace, and demands as well as expectations of your agents and support staff.

When evaluating the factors most impactful and worthy of focusing your attention to, there is one area that is frequently being overlooked, and it is the level and quality of your support.

Start with the basics

To create a better work environment and provide quality support, intent must be followed up with direct, and timely action. Promises are made easily, but if you fail to uphold them you risk losing the trust from your agents and staff, which is a hard and lengthy process to repair once it has been broken.

When you offer to help a team member or agent with something, be sure to do so in a timely fashion and follow up with them to make sure they have what they need. The strongest leaders support their teams — both agents and staff equally — in many ways, so don’t push off offering help and support that’s meaningful. It builds trust and loyalty, and it means more to your staff than you might think knowing they can lean on you when needed.

Providing value beyond financial incentive

While financial rewards or increases can be an effective tool and driver at certain times, providing value to retain talent goes beyond financial incentives. In other words, incentivizing agents and staff financially only goes so far.

When you also provide them with a positive emotional space to develop and thrive within your brokerage, you create long-lasting connection and loyalty. And while most leaders care, it’s rather rare that the well-being of employees and agents at the forefront of our day-to-day activities or to-do lists. However, in today’s work environment, it can no longer be ignored or pushed aside.

Providing your staff a stable and fulfilling work environment that allows them to take the time they need for themselves, and more importantly- encourages them to- will take the weight of dealing with burnt out or overworked staff that no longer is able to grow with your brokerage or perform in a way that provides a valuable return to your brokerage.

Encourage your team to practice self awareness

A healthy sense of self-awareness is an important trait, not only for brokerage leaders. And when it comes to leading others, resolving conflict, or growing and developing the brokerage and the team, bringing others on board and aligned is key.

Encouraging your team to practice self-awareness and passing on that trait by being a role model to your support staff and agents not only opens the door for more transparent communication between you and your staff, but it also avoids burnout and strengthens the community in your brokerage while fostering a healthy work environment that people want to be a part of.

By better supporting your staff and agents, you’ll experience a mutually beneficial side effect — more meaningful conversations with your staff and agents. This will provide an environment where everyone is more open and honest, which is the foundation to any sustainable growth, fulfillment and success.

Marion Weiler is a brokerage consultant and CEO at Weiler International LLC.

This column does not necessarily reflect the opinion of RealTrends’ editorial department and its owners.

To contact the author of this story:
Marion Weiler at marion@weilerinternational.com

To contact the editor responsible for this story:
Tracey Velt at tracey@hwmedia.com

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