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How to keep the best real estate talent in your company?

Written by Posted On Wednesday, 24 January 2018 03:54
How to keep the best real estate talent in your company?

With new companies emerging in real estate each year, it becomes more difficult for traditional companies to hold onto the top talent. Modern and progressive companies are coming up with new ways to attract the best talent and retain them for extended periods. So, how can you keep your talent? How can you show them you appreciate the value they bring? We have compiled a list of strategies that you can’t start implementing relatively quickly. Here’s how to keep the best real estate talent in your company.

 

Reputation

Companies are like products and services; if they’re of high quality, they can often sell themselves. A good company needs spend more time managing their reputation through PR and online reputation management. Employees don’t want to work for a company that’s in the press for the wrong reason. How does the public view the company?

 

Resources

Top talent wants to go somewhere they can get the best from their existing skills. If you have great resources, technology, environment or connections, you will keep your best talent. What does your competitor have that you don’t? What resources do they have that is giving them an edge? You staff deserve the best. Without it, they might consider moving someplace where they have access to new technology, updated processes, and a top-quality work environment.

 

Flexible working schedule

Flexible working arrangements are by far one of the best ways to keep real estate talent at your company. This could have related to the amount of time spent in the office and home. It can also apply to scheduling. If your staff are getting their job done and seeing positive results, does it matter when or where they work? Their satisfaction is more important than your need for them to work in an office between 9am and 5pm.

 

Time off

With a flexible schedule comes the ability to use it effectively. If your staff are new to this flexible way of working, chances are they don’t know what to do with this extra time. Many people in the real estate industry could work less than ten hours a week. In reality, they are working 100 hours a week and are now facing burnout. Proactively promote regular time off. If they don’t want to take time off, consider paying them a bit while they are away. It will always be your best staff that face burnt out.

 

Discounts and perks

Real estate companies shouldn’t stress too much about having extravagant benefits programs for staff. Having said this, they can offer significant discounts. Third party companies and service providers often go the extra mile to recruit any business a real estate company can offer. This can be a way to get great benefits for employees. Think about gym memberships, company cars, housing and anything else that adds value. A little perk can go a long way, stock the fridge with beer and wine and provide healthy snacks with the help of companies like SnackNation.

 

Shares

Giving out share is a common occurrence for a start-up in any industry now. Real estate entrepreneurs should realise that they will need to start giving up equity to key employees and team members. If your business is looking like it will see rapid growth and you need key employees to stay, this can be the most attractive incentive for them. You must not go overboard though. Giving away too much of the business will hinder efforts for raising capital and investment.

 

Training and development

An employee doesn’t want to be in the same position for the rest of their life. They want to opportunity to grow and progress. Helping employees improve themselves, their skills and experience is going to build trust and hopefully get them to stay. Have an active program for training and development, always promote learning. Pay for extra real estate courses, as well as employees to go to industry events.

 

Positive feedback

People in the real estate industry must close deals and constantly be on their toes. Merely paying them and letting them have their job is not enough. Reassure them with positive feedback, let them know you are happy with the work they are doing.

You must invest some time and effort into your employees and talent. If you don’t, somebody else will.

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