If you're spending a lot of money on leads and your team isn't producing the results you want to see, then you need to consider how switching your approach to engage your agents will guide them toward selling more homes. Here are three things you should prioritize to help your real estate team stay engaged and sell more:
1. Develop a Follow Up Policy
Without a baseline policy in place for your agents to follow up with leads, there is no way to hold your agents to a standard of effort that will nurture leads and increase sales. Change the behavior standard: instead of agents following upwhen they can,they should follow upas soon as possible.
Recent studies have proven that a lead needs to be contacted within 7 seconds in order to convert. In order to make this speed of response possible, you need a way to instantaneously distribute leads to your agents as they come in. Without a CRM there is no way to do this efficiently and with the same level of streamlined urgency. A CRM that notifies agents of an incoming lead (and makes the information available in a pond for the first agent to claim it) makes it easy for agents to start adopting a speed-to-lead policy.
2. Foster Technology Adoption
An effective team lead will enable their agents with the technology and tools necessary to succeed. In the old days, agents organized their follow-up activities into Excel reports that were reviewed by the team lead. However, there was no visibility into the actual work being done.With a CRM, team leads and agents have a full view of their sales activities logged within the software for a day, a week, or the past month.
However, you will never see the full value of a real estate CRM if you don't hold your agents to the expectation that it be used, and used methodically. Hold them accountable for using the tool by setting the expectation that no sales activity counts if it's not within the CRM. Therefore, when you go to check in on each agent's quota, there is incentive for them to use the CRM and use it to their advantage. You and your agents will be able to easily track lead nurture activities and how their pipeline is growing.
3. Create Accountability System
Once you have offered the tools necessary for success, your agents need to be held accountable for the right use of the technology and the amount of follow-up work they are completing each day with their leads.
Expecting your real estate team to track all sales activities within the CRM is an easy way to hold agents accountable for putting the necessary work in that needs to get done. Decide on a number of hours put toward each sales activity and then follow up on that expectation.
Daily huddles, weekly meetings and team message boards are a good way to follow up on expectations, publicize agent numbers and share tactics to help agents become better salespeople and agents.In a CRM your agents have visibility into the team's productivity. This positive peer pressure is an effective motivator toward holding teammates accountable for lead follow-up and sales activities.
Overall, your agents are looking to be part of a successful real estate team with a leader who will give them the tools to succeed. Developing a follow-up policy, fostering technology adoption and creating an accountability system will raise your agents to better habits, leading to increased sales and a stronger business.
With these three tactics, you can create team meetings that inspire your agents, keeping them happy, engaged and selling.
Click here to download the guide: Refresh Your Real Estate Strategy