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Change is a constant—especially in the real estate industry. That’s why brokers are so important. With the terrain constantly shifting, agents need the reassurance of leaders who’ve seen it all and come out ahead. “Brokers must be the calm in the storm that tells everyone, ‘it’s going to be okay,’” says Robert Morris, a Tennessee-based selling broker who leads real estate seminars. Here’s how to give them a sense of security.
Offer Perspective
Your experience is an asset when it comes to assuaging agents’ fears. Communicate how highs and lows are part of the business, especially with agents who’ve never experienced a challenging market. So, if you have stories about how you navigated similarly rough times, share them. “Having seen these things before, it gives some level of comfort that this too shall pass,” says Morris, who’s been in real estate for 40 years. “There’ve been changes all along and we’re still standing.”
Model Calm and Optimism
Agents follow their leader. That’s why it’s so important to remain calm. “Nothing makes me panic because I have seen it all,” says Ben G. Schachter, the Florida-based broker and president of The Signature Real Estate Companies and co-founder and head of sales of TotalBrokerage Software. “I don’t panic because the reality is when you run a large successful business, you take different hits every day.”
Along with maintaining your composure, try to project optimism, he adds. “The moment a leader shows pessimism or frustration or depression is the start of a cancerous growth in the organization. You never want that. You always want positivity, even when the market slows down. Even when you’ve lost a chunk of business. It’s always sunny skies ahead.”
Be Brief
In times of greater instability, “no one needs the details,” says Ruth Gotian, Ed. D, author of "The Success Factor" and "The Financial Times Guide to Mentoring." Too many details can often be overwhelming. Instead, agents want to know their leader has made decisions based on the best available information. To ease their anxiety, keep your messages brief, she suggests. Imagine you’re a newscaster and report what happened, what you’re doing about it, and why they’ll be OK.
Make Yourself Available
Morris will never forget an agent he knew who was struggling with his mental state and had plans of self-harm. When this agent was having second thoughts, he called his broker to talk. Unfortunately, the broker couldn’t chat because they were heading to a closing—and the agent went ahead with his plan. “I always say to brokers: ‘this is your flock. You need to be around to see what people are going through,’” he reminds.
Your agents might not be in such a dire condition, and you are not by any means a doctor or mental health expert, but an agent may reach out when they need you, whether for a personal or professional matter. It’s important that you are available and cognizant of where some agents might be struggling, and it’s also important to have the resources needed to guide them to help if help is needed.
Maintain Vigilance
If one of your agents is acting atypically, ask them what’s going on, suggests Morris. If they’re dealing with something important—say, their child was just suspended from school—suggest they leave to handle the issue while you and your team cover their work. Not only will they feel more at ease once they address the problem; their anxiety could distract others in the office, he explains. “Remove those types of challenges to keep a good cohesive environment.”
Offer Support
“Remind agents this is a stressful industry and it’s normal to feel some kind of stress,” says Morris. “What’s key is how we handle the stress we have.” By normalizing anxiety, your agents will feel more comfortable admitting when they’re struggling. To encourage them to share, consider creating a support group in your office, he suggests.
Partner With Your Agents
To help her agents appeal to prospects and feel more confident, Cindi Bulla, broker-owner, Realty Central Services in Texas, partners with them. “It’s like we have one resume,” she says, explaining their resume also includes her accomplishments. “I am selling them what I bring to the table for them to brag about [to their clients and prospects]. They can say, ‘my broker partner is this, and this, and this.’ If they’re competing with someone with 20 or 30 years of experience, all they have to say is, ‘you have my enthusiasm and my outside-the-box youthful approach to marketing plus all the experience my broker brings.’”
Offer Recognition
“We all like to be acknowledged, to know that we matter and are making a difference,” says Morris. So, give frequent awards, he suggests. Recognize agents who sell the most in dollars. But also reward those who sell the most total units or are the most helpful in the office. “Look at different ways to recognize and honor people’s efforts and make sure everybody has a chance of winning.”
Coach Agents to Use Downtime
“Success is where preparation and opportunity meet,” reminds Morris. So, encourage your agents to up-skill in slower markets. Sometimes, agents waffle when things slow down, and they have trouble figuring out how to maintain momentum. During less busy periods, remind them that they’ll have time to take classes and earn more certifications, he says. “That way, when opportunity knocks, they can answer.”
