Guest blog by Charlotte Jeffrey-Campbell, Director, and Trainer at the Able Agent, a comprehensive online training solution for estate and lettings agents.
Some of the most important aspects for estate agencies to consider in their planning include generating business, client retention, fee levels and estate agent training.
However, the most important aspect for agencies to consider when they are planning is how they are going to ensure their team are all onboard with the plan and are engaged with the business objectives. It is not enough for an agency to simply state that they are raising fees, and that they need more property to sell or let. This is because they have failed to consult their team to see if they are onboard with the plans.
Failing to involve your team in future planning can not only result in an unmotivated team, but it can also result in missed opportunities, as having a team contribute their ideas, and collaborate with each other, promotes idea generations.
Benefits of involving your agency team in planning
There are a wide variety of benefits that your estate agencies can gain from involving staff in the future planning, these include:
Motivation and engagement
When staff feel as though they have contributed to business plans and objectives, it develops a sense of ownership for those ideas, which in turn enhances their engagement and overall motivation. Having an engaged and motivated workforce is essential for your agency to be successful, and can also improve retention levels, something that is a current challenge in the industry.
Innovation
A core benefit of involving your whole team in the initial stages of your future planning is that it enables higher levels of innovation to be accessed. This is because some employees may have ideas that others may have never considered, and these innovative ideas can then be capitalized on by your agency. In a highly competitive market, innovation is a crucial to help your agency stand out from the crowd.
Promotes collaboration and communication
A further benefit is that having employees involves encourages them to collaborate and communicate, which again is beneficial for your agency. Effective communication amongst your staff can help to provide a smoother and more enjoyable experience.
How to get your estate agent team involved in planning?
To ensure estate agent employees remain motivated and are invested in the business objectives, the first step would be to get them involved in the initial planning stages. There are a variety of ways for estate agencies to involve their employees in the planning process, some examples include:
Brainstorming sessions
These sessions should be fun and informal, allowing for ideas to be generated. It is also essential that everyone knows that no idea is a wrong idea, as sometimes people can be hesitant to share their ideas. This can be done as a group or on an individual basis, and at the end the whole team can discuss each other’s ideas. It is then up to senior employees to incorporate aspects of these sessions into the business plans.
Consider the benefit of discussing fee levels with your team. If the goal is to increase fees – establish what makes your agency different, get your team on board with the new fee levels. Help them understand why your fees are higher and what makes you different.
Employee questionnaires
A more formal approach to employee involvement would be to have them fill in a questionnaire. The answers can then be reviewed and used within the plans, where suitable. Questionnaires are a good way for staff to informally share their ideas, and anonymity is often a preference for this method. This form of contribution can be used to address all aspects of estate agent planning, including training. An example of a training related question could be:
‘Would you benefit from any estate agent training? If answered yes, please discuss the specific training you are interested in.’
The level of input and influence staff have on decision making during the planning process can be altered to suit the needs and requirements of the estate agency. However, it is an important consideration for estate agencies to enhance their future planning.
Things to consider for planning
Market uncertainty is more than likely to continue, however people are more motivated by their homes than ever before, so it’s not all negative! This is a great opportunity for those agents with a clear plan, well trained, engaged, and motivated staff, to push forward with exciting business objectives, and potentially raise their fees.
In a difficult market, sellers want accurate advice from property experts, and this will always trump fees. Making sure your staff can demonstrate their value and be confident in their fees must be a key aim for the rest of the year. Providing all staff with effective training ensures they can satisfy the requirement of their clients and will help to retain clients in the future.
Guest blog by Charlotte Jeffrey-Campbell, Director, and Trainer at the Able Agent, a comprehensive online training solution for estate and lettings agents.
