Think about the number of hours you spend in meetings every week.
Now think about the time that you spend preparing for these meets.
Based on a report by Atlassian, most employees in the US spend about 31 hours every month in unproductive meetings. Spending such a huge chunk of time in meetings significantly hampers employee productivity and time.
Yet, another study by Verizon Conferencing suggests that around 91% of employees consider meetings a fruitful experience as it is a chance for them to meaningfully contribute and receive actionable feedback.
These two diametrically opposite views underline the major drawbacks inherent in most meetings that are considered unproductive. One, they aren’t well-structured, and two, they are not data-driven.
“If you can’t measure it, you cannot improve it.” - Peter Drucker
What are 1:1 meetings?
The most impactful and high-leverage activity for running a sales team is conducting 1:1 meetings.
Managers block a dedicated time on their calendars with each of their employees for an open-ended conversation. It is a space for mutual feedback and discussion of coaching/mentorship opportunities.
For a real estate team, well-structured 1:1 meetings with your agents are key to boosting productivity.
Did you know?
Real estate brokerages that conduct regular 1:1s and coaching sessions notice at least a 20% increase in agent productivity and profitability.
If 1:1 meetings are so effective, why aren’t more managers and team leaders conducting them?
Mark is a real estate broker.
His team lead conducts 1:1 meetings with the agents sporadically.
When Mark asked his team lead why he wasn’t running more 1:1s with his agents, he said, “ The meetings are not well-structured and growth-oriented. I know which agents are not converting enough leads, but I don’t have the right set of data to look at and identify performance blockers.”
Here are 15 Questions to ask your real estate agent in the next meeting.
Leveraging Technology To Conduct 1:1 Meets With Your Agent
The lack of data-driven talking points is the biggest challenge most real estate teams face while conducting 1:1 meetings with their agents. If you do not know the exact performance metrics of your agents, how will you talk to them and coach them for improvement?
Agent accountability drives greater productivity. But it is essential to set guidelines for regular check-ins and have systems in place that help you conduct efficient meetings and coaching sessions with your real estate agents.
“You do not want to go a quarter or month without understanding what is going wrong and where and putting it up front...looking at data closely is a huge plus when it comes to accountability.” - Uplift 2020
Auctm’s analytics is designed to help you focus on growing your business by empowering you with data that matters. Displayed in easy-to-understand data visualizations, leading teams in the real estate industry rely on the analytics to conduct high-impact 1:1 meetings and coaching sessions with their agents.
Based on our research, we have compiled a list of four best practices that brokers, managers, team leaders, and coaches can easily adopt to conduct meetings with their agents.
- Shortlist or group your agents in buckets to save time
- Identify & enhance your agent’s existing skillset
- Have data-driven talking points
- Identify current challenges & gaps in coaching sessions
How does Auctm help you incorporate these best practices into your 1:1 meets with agents?
Here are five features of Auctm's analytics that can make 1:1 meeting with your agents a high leverage activity for your team.
The Conversion Quadrant of Auctm is where you can have a data-backed view of your top performing agents, your bottom performers who need coaching, and agents who are stacked in the middle and need your help to boost their productivity.
Auctm's Performance Dashboard is your go-to place if you’re looking to get a jumpstart on the performance of all the agents on your team. You can also filter your view by selecting a few agents and organizing group coaching sessions.
Lead inspector helps you quickly see a set of leads that are behind any number in the CRM. During 1:1s with your agents, you can discuss reasons for leads being ‘untouched’ and ‘not connected’ and encourage them to follow up.
1:1 Meetings Tab
The 1:1 Meetings tab of Auctm gives you a summary view of key metrics on how every agent on your team is performing. You can also select a custom view based on the time frame you are looking at and conduct super impactful with your agents.
The Notes Section in the 1:1 Meetings tab makes it easier for you to keep track of talking points and action items without switching between separate documents to maintain notes.
Did you know?
69% of managers are uncomfortable communicating with their employees.
A predefined structure and access to data-driven talking points can make 1:1 meetings easier and a lot more meaningful for you and your team. 1:1 meetings are a golden opportunity to work on communication and interpersonal skills. The goal is to make your workspace safe and create an environment that encourages growth.
1:1 meetings help the team run a lot more smoothly and keep the manager in the loop of any blockers or wins of every agent.