It takes more than an attractive commission structure to capture agent interest these days. With brokerage competition at an all-time high, it's never been more important to double down on culture in your brokerage's and team's recruiting and retention strategies.
During RISMedia's webinar, "How Your Company Culture Can Help You Attract and Keep Clients," moderated by Sherri Johnson of Sherri Johnson Coaching & Consulting, and sponsored by BoomTown, panelists discussed how culture can help drive sales and how it can be used as a value proposition to attract and keep clients.
Culture, however, isn't something that just happens. It has to be built and fostered to create a positive environment that members align with.
"I believe that we must build mutually beneficial relationships with our agents," said Johnson. "We wouldn't be successful without them. We have to provide value."
Erle Morring, panelist and team leader at RealtySouth, agreed, stating, "happy agents are productive agents and that leads to a successful office."
To keep a company's culture intact, however, sometimes hard decisions must be made. Morring recalls having to let go of an agent who was creating a toxic work environment—a move that was welcome among other agents who recognized the problem had to be addressed.
The best thing brokers and team leaders can do, said Morring, is "hiring the right people," from the get-go.
What does getting along with agents and providing value mean? According to panelist Jason Goodin, managing broker with Suffolk and Smithfield, a Long & Foster Company, culture is inspired from the top down, and is a "feeling of being welcomed and included."
"Part of refreshing the culture is getting along with agents. But you don't get that unless you're accessible," said Goodin.
During COVID, especially, communication has been integral to keeping agents feeling seen and heard.
"It has been critical that I get to see our agents by Zoom," said Goodin. "It gives us an opportunity to recognize success."
Sales meetings have been a fundamental part of creating that environment.
"It begins with social interaction, which everyone is craving right now," said Morring.
But team sessions can only do so much, according to Goodin. There has to be personalization.
"We've got so much content coming at us now. There's a lot of opportunity for training but less for one-on-one coaching. My agents know they can come to us if they need more help," said Goodin.
And that's truly where a culture of feeling valued comes in—when an agent or team member feels like they've gotten something out of the relationship, particularly more personalized training that can help them succeed.
"It's really great to take an agent and make a difference and grow their business," said Johnson. "There's nothing better than an agent saying, 'I'm never leaving because you helped build my business.'"
"BoomTown's got a simple mission: to make real estate agent's lives more successful. And we really do that by leaning on our core values," added BoomTown spokesperson Mac Hill.
When an agent can say they're successful, and that it happened because of the brokerage's and team's culture of training and communication, that's when they stay for the long-term.
For more on how to leverage your company's culture to retain talent, watch the full webinar below:
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