How Agent Accountability Actually Drives Profits
Amongst real estate teams, accountability is often seen as an afterthought. But, if you really want to level up your business, accountability should be explicitly woven into your process and business plan.
Accountability is defined as “the acceptance of responsibility for one's own actions — implying a willingness to be transparent, allowing others to observe and evaluate one's performance.”
Accountability is a valuable tool that team leaders and brokers can implement within their team cultures, but it’s also an essential quality that single agents should adopt to build trust and boost productivity.
Rather than being viewed as a punishment — where you need to get these tasks done “or else,” — accountability should be a motivator.
Why Accountability Matters
Strong accountability practices drive agents to perform better, helping them maximize their efforts and ensure that everything they intend to do actually gets done.
When entire teams work together with accountability as a major focus, it’s easier to collaborate effectively. The group can capitalize on everyone’s best efforts, leveraging their collective power to increase production, transaction results, and client satisfaction.
When individual agents dedicate themselves to becoming more accountable, single agents can improve their work-life balance by organizing their task lists and prioritizing how time is spent during the workday.
Whether you’re a team leader looking to make accountability a cornerstone of your team operations, or you’re an individual agent that wants to achieve more, here are some tips for incorporating accountability into your real estate culture.
How to Find Hidden Revenue Through Agent Accountability
Start Setting Specific, Actionable, and Trackable Goals
Breaking down bigger goals into specific, smaller tasks that can be measured and tracked is an accountability best practice.
If you map out each step that needs to be taken to generate the results you want, you’ll be able to take baby steps towards the larger goal. This way, you can make sure that you and your team are on track.
Goal Setting in 3 Simple Steps
- #1. Set an Overall Team Goal
As a team, what volume do you want to achieve? How many units do you want to transact? Have a deadline in mind to help you determine how much time you have to meet this goal.
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- #2. Set Individual Goals for Each Agent
Next, break up your larger team goal into smaller, agent-focused tasks. If you’re a single agent, your team goal will be your individual production goal. For teams, assign each agent an individual goal to help guide their efforts and ensure that the entire team is on the same page.
Go to each team member and outline the goals being set for them. Giving them a minimum acceptable, midrange goal, and maximum attainable can help clarify expectations.
For example, if you’re looking for three units from each agent, the minimum acceptable may be two units, the midrange goal may be three units, and the maximum attainable may be five units.
Make sure that you’re talking to each agent about the goals being set for them. Ask them if they feel like it’s realistic, or if they think it’s a low-ball and that they can achieve more.
This also gives team leaders the chance to talk to their agents and see if anyone needs help, more training, or tips to improve their work.
- #3. Step Back and Take a Birds Eye View
Once you’ve assigned roles to each of your team members based on your overarching team goal, take a moment to assess whether or not all of the bases are being covered.
If you don’t have the bandwidth to meet your goals, you may need to hire additional team members.
Pro Tip: For teams, goal setting should be a collaborative process. In order to achieve team-wide goals, be realistic when establishing expectations for each agent. Make sure that the goals being set for each individual match their qualifications, skills, and talents.
Streamline Accountability with BoomTown
When you work with BoomTown, you’ll gain access to your very own accountability dashboard.
Documenting everything in your BoomTown database can help teams track progress, keep a current log of all activities, and make your CRM more effective with strong data inputs.
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Team leaders will be able to oversee and monitor agent activities, helping leaders determine which team members are thriving and which agents might need some help. Some brokers and team leaders even require that agents submit proof of tasks being completed before they are given new leads.
Use these tips to reap the benefits of all-star accountability practices!