Increase Retention and Sales by Bestowing Annual Awards
On “The Office,” Michael Scott awarded “Dundees” to everyone. While his execution failed, the idea is sound. Awards build loyalty, honor sales and promote retention.
NEW YORK – Many real estate teams, offices and companies celebrate the achievements of the past year, typically by using some type of recognition for sales production. Yearly awards are a good way to encourage company loyalty and help boost future sales.
An awards event can be either virtual or live, and should have a theme, program or even videos that generate positive energy. If the event is virtual, a small package could be delivered to all agents the day before the event including, possibly, a printed program, event favors and certificates or other award recognitions.
Recognition categories should be carefully determined. In real estate, they may include awards for top units and top volume, listings leaders, open house leaders, new leaders and/or highest year-to-year percentage increase in business.
Categories could also focus on the use of company tools, such as CRM or other marketing and engagement programs. While not everyone’s work is recognized, each agent’s production still contributes to company success, making it essential to address a few success stories and thank all agents in general.
During the awards ceremony, it’s also important to highlight the positives – in the market, the company, opportunities and tools.
Source: RISMedia (02/03/21) Johnson, Sherri
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