When you’ve been doing any job for awhile, it’s easy to get stuck in your routines. The standard daily rhythm of the office becomes mundane. You have to find your motivation. And as a team leader, you have to help motivate others.
From the part-timers to the full-time agents with millions of dollars in volume each month, how do dedicated team leaders motivate agents of all levels? It’s a mix of financial benefits as well as intrinsic currency. My sales team cultivates positivity and support by tying these ideas together.
Show them the money
Let’s explore the financial aspect. Keep in mind, I am writing from Buffalo, New York, where the average cost of a home is $155,000, according to 2019 data from the Buffalo Niagra Association of Realtors.
If the dollar amounts I’m about to project for bonuses relate only to the cost of lunch with a client for you, adjust accordingly for your marketplace.
I introduced a bonus system for my team that is built on the sense of fulfillment and reward felt when we all do better at hitting volume or unit minimum thresholds.
To hit the “bonus” on our team, we require an agent to do a minimum of $500,000 in volume or a minimum of five units sold in a month.
Setting these minimum rewards not only helps the agents with higher sales prices, but it also helps the agents who grind in the trenches, serving our valued investor base ($20,000-$60,000 homes), which spans around the world.
Having a bonus system that rewards volume and units is how you motivate each one of your team members who strive to do their best in their respective specialty areas.
The next part is the most important because its motivation is inclusive and relevant to all. For example:
- If one person hits the bonus, they are rewarded with a single $250 bonus.
- If two hit it, they get $500 each.
- If three hit it, they get $750 each.
- If more than four (up to 30) agents hit it, each get a $1,000 (and from there, it’s capped).
You will find out quickly as a team leader that if your team is performing incredibly well, you will need a cap.
Find a group purpose in giving back
On to the most essential parts of motivation: the currency of the heart and soul. That is created by the team lead, for the team. Give back to the community. It’s as simple as that. Give.
I feel great when I close a multimillion dollar deal, but I feel even better when our team gets together as a unit for our charitable efforts.
For example, we run annual dog rescue events where we raise thousands of dollars, but more importantly, we spread the word on adopting rescues. We also collect gently used and new mobility equipment for military veterans who have given so much for us to enjoy our freedom.
We volunteer at Habitat for Humanity, helping with the demolition, repair, painting and more. These are just a few examples of doing rewarding, impactful things in your community that you can vanguard as a team lead.
We are fortunate to be creating a living through our wonderful occupation as agents, team leads and brokers. But let’s never lose sight of why we are really here: to help others whenever possible, to motivate from within ourselves and our circle, and to expand a message of kindness throughout our communities.