Two Effective Strategies for Increasing Agent Motivation and Revenue

Real estate is an industry where human capital is a brokerage's most valuable asset, with agents working as independent contractors holding the power to drive a firm's success--or failure.

Since success sits squarely on agents' motivation, a key question becomes how to inspire them to perform optimally in volatile and fiercely competitive real estate markets. By understanding the underlying reasons that drive performance, brokerages can harness new opportunities and reach their revenue potential.

Building and maintaining a team of agents committed to continuously slam-dunking the deal presents a tough challenge that brokers have generally addressed with traditional extrinsic motivational initiatives.

Yet, time and again, research worldwide has proven that these extrinsic motivators do not work. Rewards, contests, prizes, and recognition programs amount to nothing more than carrot and stick strategies. While they may produce short term results, they fail to be sustainable, as agents lose their sense of creativity, vitality, and inherent self-value. The result is suboptimal sales performance and higher agent turnover.

Try Aligned or Integrated Motivation

The good news is that there are proven and effective alternatives: aligned motivation and integrated motivation. With aligned motivation, agents are empowered to link their work to something of significant personal value such as financial goals, self-worth, or even just an intense interest, which inherently improves productivity and dedication.