SURVEY RATHER THAN SOLICIT

By
Education & Training with Performance Development Strategies

Your most important task in your real estate business is to attract and retain customers. Second most important task is to attract and retain great team members if you have a team.

Your service and value proposition needs to be  the best to have loyal customers. The same is true for your agents you will recruit for your team. You must have a great team value proposition. You are never going to learn the truth about your value proposition if you don’t ask the tough questions and be prepared for the answers.

Fear of hearing bad news will not make the bad news go away. However, it appears that many are just not comfortable asking the ultimate question, “How are we doing?”

The reason that we know that companies are not interested in knowing how they are doing can be found in a Gallup survey. According to Gallup around 30% of employees are engaged at work. That means that 70% are not engaged in their jobs work. What would you do if you learned this about your real estate team?

Recently Gallup released a new survey on engagement. When I read the commentary, I could see that engagement is not static information but depends on company, employees, and time. There is a take away and that is that we can’t make a universal supposition of what engages people. Instead, we need to understand the diversity of our workforce which includes gender, culture and the different generations. Engagement factors are dynamic.

Now, with regard to customers, it is easier to think all is well because there are not a growing number of customer complaints. What if the customers are not coming back?

What action would you take if your team members were to give a negative answer to the statement, “At work, I have the opportunity to do what I do best every day?” Meaningful work means different things to the different generations in the workplace. Consider not only generational differences but also cultural differences. Get to know your team members and what is important to them. A baby boomer’s wants and needs are different from Generation X and the Millennial Generation is different from the other two generations. The engagement solution does not involve pushing a round peg fit into a square hole but rather to match each member to where he or she can be the best.

Is your organization suffering from a retention challenge? This can be costly. When you consider recruiting and training, lost customer service, lost productivity, and lost morale in others who are left, the cost can be significant.   An engaged member becomes more valuable as he or she grows. In addition, high-performing companies have loyal customers because they have loyal and engaged teams.

Do you have an engagement strategy? This should be a line item on your P&L. The strategy should include careful selection as well as a strong mentoring and development plan.

 

Engagement

Is it time to have a strategic team assessment and development plan in place?  For a similar post on our web site see YOU WILL NEVER KNOW IF YOU DON'T ASK.

Learn how to start a DIALOG with your team.

Contact us to learn more

or call 914-953-4458.

 

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Topic:
Real Estate Best Practices
Location:
New York Westchester County
Groups:
Coaching and Mentoring
Tags:
customer engagement
employee value proposition
creating customer loyalty
how are we doing

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Rainmaker
1,520,392
Amanda S. Davidson
Amanda Davidson Real Estate Group Brokered By eXp Realty - Alexandria, VA
Alexandria Virginia Homes For Sale

Grant, retention is so important - whether it's clients or team members it can make or break a business. Your advice is always spot on. 

Apr 22, 2019 05:33 AM #3
Rainmaker
1,897,032
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Nina - good to know that you get those 5 star reveiws!

Wayne - that misalignment is a big problem.

Amanda - thank you so much.

Apr 22, 2019 05:50 AM #4
Rainmaker
2,515,265
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I like that idea, I have always been turned off by solicitation, therefore I have never wanted to solicit others.

Apr 22, 2019 07:43 AM #5
Rainmaker
4,402,568
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Grant,

Engagement is very important in all businesses.  Understanding the other side's needs is of paramount importance, for us it goes along with knowing your marketplace.  To really know your marketplace, one should observe and ask about their observations to double check and triple check.  This is another one of you excellent posts.  A

Apr 22, 2019 08:01 AM #6
Rainmaker
1,897,032
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Ron and Alexandra - I really appreciate the compliment and I do try to practice this myself.

Apr 22, 2019 09:47 AM #7
Ambassador
3,781,712
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Grant it is sort of avoiding going to the doctor when your not feeling well because your afraid of what the doctor might say.   Avoiding what the doctor has to say does not make the problem go away, in fact it will only get worst.

Apr 22, 2019 10:52 AM #8
Rainmaker
1,199,636
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Grant Schneider - You touched on a very challenging aspect of any manager's job.  Generational differences need to be addressed to maintain employee retention.  It generally costs 3 times more to hire a new employee.  It makes good sense to keep the employees we have and really understand what their needs are.  

Apr 22, 2019 11:52 AM #9
Ambassador
1,836,451
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Like Nina, we aren't in the employment business, but we are all about customer service. Therefore, it's imperative for us to do what it takes to earn and keep customer loyalty. 

Apr 22, 2019 12:58 PM #10
Rainmaker
577,868
Pat Starnes-Front Gate Realty
Front Gate Real Estate - Brandon, MS
601-991-2900 Office; 601-278-4513 Cell

This is an important topic Grant, and it should make us ask the question, what could I have done differently for this to be a more successful (fill-in-the-blank).

Apr 22, 2019 08:14 PM #11
Rainmaker
2,884,267
James Dray
Fathom Realty - Rogers, AR
Exceptional Agents, Outstanding Results

Morning Grant.

I hired two agents yesterday.  Their main complaint about their former agency is that they were required to attend weekly meeting, floor duty and a monthly desk fee.  The old way of retaining independent contractors is not they way of doing business today.  

Apr 23, 2019 01:30 AM #12
Rainmaker
1,897,032
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

George - yes, that is a very good comparison.

Sheri - yes, the cost of replacement is certainly that high.

Debb and Bernie - yes, that is right.  It is all up to you.

Pat - we do.  I have given surveys to my clients.

James - that is right.  One recently told me it was because of culture.

Apr 23, 2019 05:28 AM #13
Rainmaker
3,237,065
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Keep 'em AND keep 'em coming ....it's a gotta be to make it all work !

Apr 23, 2019 06:15 AM #14
Ambassador
3,838,884
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Grant- the underlying key here is to focus on the individual and what their needs are...whether your client or team member. Find their hot button and what motivates them!

Apr 23, 2019 11:32 AM #15
Rainmaker
3,195,162
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Grant, indeed it is all about taking care of the clients as some of the above comments referenced. We would not have repeat clients if we did not take care of their wants and needs. Endre

Apr 23, 2019 11:02 PM #16
Rainmaker
1,897,032
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Sally and David - yes that is right.

Kathy - to focus on the customer and the team will guide the business.

Endre - yes, that is for sure.

Apr 26, 2019 08:40 AM #17
Rainmaker
3,138,436
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Grant,  Once again you hit the nail on the head with your knowledge.  Thanks for sharing.

 

Apr 28, 2019 09:08 AM #18
Rainmaker
1,897,032
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Will - thank you.  I appreciate your comment.

Apr 29, 2019 05:45 AM #19
Rainmaker
457,530
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

We no longer hire as we did in the past. However, your points work for any type of team concept ... whether it be work or play.  It's all about focusing on the individual and how each member adds to the group for a harmonious outcome. That what I love about the acronym for TEAM Together Each Achieves MORE!

Apr 29, 2019 08:24 AM #20
Ambassador
1,652,405
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Rhinebeck, NY
Mid Hudson Valley real estate connection

Grant,

As mentioned wants and needs differ, and that is why it is important to engage on an individual basis.

Apr 29, 2019 09:07 PM #21
Ambassador
3,966,197
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Grant:

So much valuable advice and counsel in this post. Knowing what others think is key, but of course doing something about it is even more important.

Everyone seems to be surveying these days but you have to wonder what is actually done with the information.

Jeff

May 02, 2019 11:18 AM #22
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