The real estate world is often thought of as a ‘24-hours a day, seven days a week’ kind of business, and it attracts the kinds of people that are willing to work long hours to get ahead and reap the rewards.  However, in an industry where there is often an expectation that everyone within an office must work hard, and go the extra mile for their clients, often times we forget to turn the focus inward and ensure our own people are a key focus.

In my experience, you really can’t overestimate the importance of fostering a culture which puts people first. Not only does it make it a more enjoyable environment to work in, but it pays dividends in the long-run when it comes to staff retention.

The culture of a business is evident from the front desk through to the principal and it sets the tone for the agency, so it’s a key driver of success.

When you look at most administration staff within real estate offices, they often cite feeling unappreciated as a driver for leaving. Office support staff often work hard, put in long hours and generally need to have a similar set of skills and knowledge to the agents they work with, yet often times they’re treated like second-class citizens when compared to sales teams.

Property managers too often experience burn-out after clocking in long hours, dealing with complaints from both tenants and landlords and often times also feeling unappreciated for what is a very demanding role.

Sales agents are always to looking to grow, they’re looking for principals who are able to offer them the systems, tools and processes to help them get ahead. A lot of agents also reach a point where they’re looking to build their own teams, and may look to leave an office in the hopes of making more money by starting up their own office, or after being lured away by a competitor who offers better commissions or conditions.

I believe to attract and retain talent, agencies need to develop a culture that focuses on putting people first. That’s the people we service and those we work with.

So how do we do this?

Retaining staff doesn’t necessarily mean you have to offer higher commissions or pay to keep people in your business.

As a principle, if you’re providing good working conditions, recognising and rewarding success, offering learning and development opportunities, supporting your people with the best in technology, and remembering to have some fun along the way, it not only comes across to your clients, but goes a huge way to retaining staff.

• Offer the best in technology. It’s about removing barriers and offering the best solution, so that your people can do their jobs well and communicate effectively.
• Reward and recognition. It’s about rewarding and recognising staff through proper events and award nights.
• Training and development. Offering professional training and mentoring opportunities can also go a long way at retaining agents that may feel they aren’t growing in their roles.
• Fun and laughter. It’s important to make time for socialising as a team and to recognise that it can’t be serious business all the time.

The bottom line is, money is a motivator, but generally people want to enjoy coming to work every day and culture plays a very big part in that.

Mark Morrison