Accountability and motivation are essentially different. Yet, they go hand in hand when you’re running a real estate business or leading a team bound for success. The top real estate teams have a clear set of goals and expectations that allows both the broker and the agents to stay on the same page when it comes to keeping track of essential metrics.
“Motivation is the why. It can be intrinsic, external, what is motivating them to work generally and also within a team. Accountability is more set to certain standards. A way through which the best can be pulled out, and hence sometimes you are set higher than your peers."
- Justin Sheppard, Uplift 2020.
Drawing inspiration from the winning teams in the business, we have compiled a list of 5 things that you can do, to improve real estate agent accountability in your team.
5 Ways to Improve Real Estate Agent Accountability
1. Data-Driven Approach Is The Only Approach
The end goals of each agent in your team might be different. But when it comes to the business, the goals of your team must be aligned with the key results that you will track at the end of the day, week, or month.
You cannot improve what you cannot measure. It is important to track the end goals, but even more important to follow the processes that lead up to them. To ensure that your agents are accountable, you will need the right tool to track key data points and micro steps in the funnel such as -
- the number of deals your agents are closing
- their connectivity rate for new leads
- conversion rate
- health of your agents’ pipeline
2. Listen To Your Agents As You Coach Them
Agent accountability is not just your agent’s responsibility. A great team leader is one who will sit down with their agents and analyze the root cause of the problem. Most teams focus on the bottom of the funnel and not the entire funnel when it comes to agent performance. A solution-oriented approach will significantly improve your agent’s performance and ensure greater accountability in future.
Here’s what Michael Hellickson (Founder/CEO, Club Wealth) has to say about the difference between management and leadership-
“Management is : You have to do certain things because your work for me, leadership is: I work for you, let me figure out what you need and I will make sure you have systems set up for you to thrive.”
It is the role of the leader to provide the right tools and systems to help agents achieve their targets and goals, and step in to mitigate chokepoints in the funnel via training and coaching.
3. Agent 1-1s Are The Secret Sauce In The Recipe For Success
Following up with your agents based on their key performance indicators is critical for you to check their progress and eliminate any blockers to reach the end goal. But it is of greater importance to your agents to understand where they are falling short and what can help them close more deals.
An in-depth view of every agent’s pipeline movement, current hot leads, and connectivity rate will help you conduct effective agent 1-1s.
4. Focus On The Bigger Picture Right From The Start
As a leader, it is your responsibility to set clear expectations, and goals for your agents. Accountability is what bridges the gap between these expectations and the desired outcome. Right from the process of hiring new agents to training the existing members in your team, there has to be a consistency in the end goal that covers a certain period of time.
“As long as you are growing, you are not going to win every time. But if you are growing, then progress matters. “ - Uplift 2020
Every process that you initiate, every short-term target that your agents make, all of it needs to be directed towards the end goal. This makes the agents accountable for the micro steps in the funnel and drive consistent growth.
5. Investing In The Right Systems Will Help Your Agents Become More Accountable
The biggest hindrance that most real estate teams face is choosing the right tech stack. Knowing what metrics are important for your team is the first step in making the right decision. Numbers are essential. But it will cause greater confusion if the numbers that you and your team are looking at are not relevant to your business.
“Effective means we get the job done, efficient means we get the job done quickly, and the latter is what we need.”
- Michael Hellickson
Looking at complicated dashboards and multiple spreadsheets can be time consuming and confusing. The tool that you choose should help you track your agent performance to conduct better agent 1-1s and have greater visibility over your business.