Brokers should look internally to drive future performance

November 17, 2017

Many real estate brokers take the late fall and winter months to assess what their businesses will need for the following spring and summer. With this in mind, it could be a good idea to look at past missteps and see what can be learned from them.

Indeed, many brokers field think it's wise for real estate professionals to examine the areas where they've stumbled in the past, and focus on all the positives they've likely picked up during their years on the job, according to Inman. However, a lot of the areas where brokers or agents can improve come from openly discussing some of the struggles they face, and trying to reach a collective understanding about the best ways to overcome those answers. Looking inward to clear hurdles is usually a great place to start.

What to keep in mind
"Difficulty" may be something of a dirty word in real estate because so much about the business is accentuating positives and looking on the bright side. However, every agent in the industry has had some ups and downs, and a lot of the pitfalls that come with the job - from feeling overworked to not being engaged enough in the actual real estate sales process - are actually quite common. As a result, brokers may find that giving agents the ability to simply talk through those issues can actually be a great motivator.

For brokers in particular, having a connection with agents that goes beyond the business itself is vital. It allows brokers to spot the signs that the people they oversee might be running into difficulties, even if agents aren't being up front about them.

Sticking with motivation
Part of the job for brokers is that when hurdles arise, they need to help their agents over these obstacles by knowing the right buttons to push, Inman further noted. Helping agents stay motivated in the fall and winter, when activity tends to slow down, isn't always easy, but it's vital for everyone involved. The amount of "hustling" agents have to do at this time of year in particular (as opposed to business coming more naturally during the buying season) can be significant. However, agents have to keep in mind that a sale at this time of year is no less important to a client - whether a buyer or seller - than one made during the more hectic summer months.

So while working "smarter" and not harder is an ethos shared across many different industries, agents can benefit from keeping that mindset not only when the market is really moving, but also when it slows down. The underlying habits that lead to long-term real estate success don't have to change just because the market does.

When brokers are there for their agents with some words of advice and a little bit of encouragement, they help the business, the agents and even clients. That kind of help - which can be found internally rather than seeking answers elsewhere - leads to positive long-term prospects as the market continues to change.