The real estate industry is extremely competitive, and employee turnover in any business can hurt the bottom line. The process of attracting and retaining top talent can have a real estate company assuring itself success for years to come. Having the right people selling or marketing for a real estate company can lead everyone to make a great living for themselves. Here are some tips that can help retain all-stars in the real estate industry while also attracting new great talent.
Not Just Realtors
The advertising and marketing team are the lifeblood of a real estate company as they bring in leads. Every real estate company has a team of closers, but the lead generators are the beginning of the sales lifecycle. Digital marketing and those in business development are valued parts of a real estate firm. The right partnerships between websites that sell homes and a real estate firm can constantly bring in leads with a small fee per month. The right people doing follow up calls is important, as a pushy person on the phone following up on a lead can result in a person opting for a less aggressive real estate option.
Great Benefits
A great benefit plan – whether it is an extra week of paid time off or a comprehensive health insurance package – can help with employee retention. Insurance can cost employees thousands of dollars a year, so great benefits can make up for a company that might not be able to pay the highest of salaries. As the insurance industry continues to change, and as the workforce continues to age, it’s important to help employees understand deductibles, coinsurance, when to enroll in Medicare and other insurance questions they likely have. Vision and dental insurance should be incorporated into the insurance plans for employees as well so they feel taken care of on all fronts.
Give The Best Agents The Best Listings
Giving the right agents the right listings is important when trying to retain the top agents at the firm. A huge sale can be the difference between an agent looking to venture off on their own to an agent staying comfortably with the firm. Certain agents are going to specialize in selling certain types of homes. This is important to remember as closing as many sales as possible with satisfied clients is the main goal of the company as a whole. When hiring pick agents that like selling luxury condos while another sells renovation projects well. A diversified staff is the best way to maximize conversions.
Work Directly for a Lender So Deals Do Not Fall Through
Working directly with a lender allows a real estate company to constantly get closer to closing a sale. This can help qualify potential buyers as an agent does not want to waste their time with a person that does not have the credit to be given even the smallest loan. These lenders can even bring in leads as many partner with job selling websites so they are notified when a person is seeking preapproval for a loan. These lenders will need a high close rate on selling the home to continue partnering with the company as they want as much business as possible.
Real estate will continue to be one of the most competitive industries out there. Take the time to work on relationships with your current staff in order to keep them around for years to come.
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