What is your team doing?
If someone asked you what your team is producing this month, would you know?
Do you know who is the strongest and who is the weakest agent in your team? Do you know by how much?
Often, we take for granted that we don’t really have proper oversight over our teams. Brokers often think there’s nothing they can change about this situation.
And yet, some brokers are more successful than others… so that means they must be doing something right.
Pre-empt problems by knowing your team
So where do you start looking for solutions? The best place to start is your team.
See if you know what deals they have been closing, and what the numbers are. Better yet, ask yourself if you know what deals your agents have in the pipeline. Knowing what’s in the pipeline is crucial to business longevity.
You may find yourself in a situation where you’ve spent a lot of your cash, and income has been reduced to a slow drip, rather than a powerful current.
If you did get to that point, it’d be too late to turn your business around quickly.
No, it’s much better yet to pre-empt all this. This is done by regular monitoring of your team. After all, they bring in the business so if someone’s underperforming, you need to know.
How to keep a pulse
To keep track of what’s going on in your team, you’ll need two things:
A team that’s eager to share
Your team will need to keep you informed of what they’re doing. They should see the value of sharing their latest updates with you. Here, it comes down to company culture. If you cultivate an open culture, where communication is rewarded, your team will follow.
You can do this by setting an example -- sharing information with your team and showing them it’s safe to do so. For instance, you can share a recent story of how a sale went well, or how it tanked catastrophically. Or, you can share top line sales figures with your team every month.
This will inspire them to reciprocate and share their war stories -- and sales figures -- with you.
A team that has the means to communicate
Your team will also need a straightforward way to consistently communicate with you. They could tell you things in person or call you, but they might often not be at the office at the same time as you -- and you’ll have plenty of other things going on. Sending emails takes a lot of time and messages get lost in the ether.
So, it’s important to have a structured, systematized and fast way for your agents to share information with you. This can take the form of a spreadsheet or a shared document, and should allow your agents to insert information about their most recent deals, any deals they have in the pipeline, and of course the commission they earned over the past weeks and months.