How to manage your lettings agency team for profit and growth
As a lettings agency owner, there is no greater feeling than knowing you have a highly-motivated team of letting agents to help spur growth and ensure you hit your targets. They want to prove their ability and make things happen. However, despite their best efforts, sometimes it doesn’t go to plan and you’re not sure why. It’s very easy to let frustration sink in and for you and the team to lose any motivation or momentum you have – this can lead to a downward spiral of unhappy staff and unsatisfying results.
You’ll probably have a good idea of what the individual problems within your team are, but connecting the dots and painting the whole picture can be more difficult. The solution is simple: knowledge is power. If you make a conscious effort to keep on top of your team’s performance, you can fine-tune your strategies, sharpen your focus, replace any failing aspects and then rightfully reward your team when you get back on track for hitting your weekly, monthly, even yearly targets for growth and profit!
While the solution is simple, it’s not easy to execute. It will require commitment in another area for both you and your staff: record keeping. Stats. Data. Logs. Analysis. Record keeping seems like harder work, but a Branch Performance Report will help you on the path to smarter work. Through Branch Performance reports, you will unlock the knowledge you need to manage your team of letting agents effectively and fairly.
So what are you going to record?
Ask yourself the following questions:
- Marketing – what returns are you getting from the marketing you’ve done? How strong are the Leads you’ve gained? What’s your Conversion Rate?
- Then review the quality of your Applications. What questions are you asking? What’s your Valuation-to-Attends ratio?
Managing your team is impossible if you feel powerless or removed from its day-to-day workings. When your staff log their figures in detail, you’ll get a complete picture of where everyone stands and who’s not pulling their weight. You’ll be able to reward the people leading the line, meaning they won’t go home resentful, feeling like their efforts have gone unnoticed. Better still, the team member setting the standard will be an inspiration to the rest, leading to a more streamlined and focused workflow from all the team that gets results.
A Branch Performance Report, filled in by all members of your team with all the facts and figures you need, will be a revelation – don’t delay in starting yours.
You can access our specially designed Branch Performance Report template by signing up for PAC Online, and start to see real, concrete results today.
To get a FREE 30-day trial with PAC Online, book on our one-day workshop Property Agency Intensive and drill down into your agency’s services and systems with us and like-minded agents.