Are yours WEEKLY Team Meetings or WEAK-LY Team Meetings? Are your team meetings profitable? Do they help everyone be more productive? Do they improve team culture? If not, you NEED to keep reading.
Team meetings are an opportunity for you and your team to go over crucial things. In this week’s video, Michael Hellickson goes over WHY you need to have weekly team meetings, who should be there, and what you should be talking about to be efficient and profitable during that meeting.
M – Members
You need to be asking about and recognizing who has done well recently. You will also award a Team Member of the Month, which can go to anyone on the team (admin, agent, lender, etc.).
The reward for being the Team Member of the Month is $50 CASH on the spot. We know it sounds cliche, but it shows your team members that you appreciate when they work hard and that they will be recognized for it. Team members need the team leader’s approval and appreciation on a regular basis.
Kudos are also a great way for the team to show their appreciation for each other and the team leader. That is an easy way to let someone know, “Hey, you did great!” Kudos give everyone a sense of appreciation, improve morale, and have a very positive impact on team culture.
E – Encourage
Encouraging the team to improve is helpful and necessary! It helps you as the team leader and it benefits the team in working together.
Discuss what each person has done to improve and how he or she made it happen. Suggestions can also be made to team members regarding what else they can do to improve.
Review the commitments each team member has made and hold each other accountable for them (yes, including you as the team leader)
You also want to talk about other agents and teams that are successful and what systems they are implementing that you could possibly implement with your team. Suggestions are great, and they get the team talking about the things that need to change.
Efficiency as a team says it all: keeping everyone and everything efficient keeps the team productive and profitable (which is good for you!).
Let’s face it, most real estate agents are less than efficient.
To address this, ask, “What can we be doing better as a team?” Let the team members give suggestions. Go around the table and ask each team member, “As individuals, what can you be doing better?” This encourages accountability within the team. This is the opportunity for your team to let you, as the team leader, know what’s going on and what needs to happen.
Ask the team what should be covered in the rest of the meeting. This gives you the opportunity to keep things efficient while simultaneously giving each team member a chance to be heard.
Think “Positive Conflict”: be unafraid to hear what you may not want to hear! Positive confrontation is GREAT in this environment!
We don’t want drama all day in the office or on our team. In this meeting, though, we seek positive confrontation.
T – Train
One of the reasons teams fail is lack of training. Without training, even if the team succeeds, individuals may fail more often and turnover may be higher than necessary. Team meetings are a chance to implement new systems and conduct general training.
If team members have questions about the current system and how to complete a task, this is the perfect opportunity for them to ask!
You can also address skills and cross-train administrative staff. This comes in handy when Sally at the front desk is sick, as Steven can fill this position until Sally returns.
Most team members need training on skills they need, but don’t realize the team leader doesn’t have the time throughout the week to do one-on-one training. This is the time to train everyone on the team simultaneously!
I – Inspect What You Expect
Your expectations may be high for your team… but how to know if those goals are being reached?
You need to inspect what you expect out of your team. This means going over everyone’s numbers for the previous week during the meeting.
How many calls did you make?
How many appointments did you set?
How many listings did you take?
How many contracts did you write?
This is your chance to go over EVERYTHING and ensure the team as a whole is on the same page. (When you do your Daily Team Huddle, some of these should already be covered; the difference here is we are looking at the combined numbers for each individual’s previous week vs. single day).
This is the easiest way to hold people accountable and ask questions about transactions. Don’t forget to give kudos to those who have exceeded their goal!
N – News
Going over industry news is often a great way to get your team “in the know,” which helps them to come across as experts when chatting with clients. Update your team about things like big changes, interest rate adjustments, REO volumes increasing or decreasing, and recent trends.
Go over company news. What’s happening with the company? Team member or client getting married? Having a baby? Birthdays? Anniversaries? These are all easy questions to go over.
Finally, team news! Introduce new and prospective members if you are hiring new team members, and express need of referrals for a position. Keep your team updated on everything possible. The better informed they are, the more involved they will feel.
G – Growth/Goals
The team meeting is the perfect chance to create and/or review goals and projections that you can then measure in the next team meeting. (Remember to use the S.M.A.R.T. goal formula). You can understand what the team would like to focus on and you can ensure that your vision and goals – and the vision and goals of the team as a whole – are in alignment.
Where are we going as a company?
What are next month’s projections?
What are our goals as a team?
S – Something FUN!
Last but not least, do something fun! Have team members come up with multiple ways to handle an objection from potential clients. Practice conversion closing skills by seeing who can answer the most questions with a question. Hone skills by choosing random words that team members must work into scripts in a seamless way! Team meetings can be boring, yes, but when you are productive and profitable, they can be fun.
Always include a fun element. Bring food for after the meeting, play a team-bonding game, or even create a team chant or motto. Make it something the team members enjoy!
The meeting should last an hour at most.
At the end of the day, make sure your team meeting is fast, fun, free, and leads you to a FORTUNE!
As our way of saying thank you for taking the time to read this blog, we invite you to a FREE, 55-minute, NO PITCH, one-on-one coaching call with a Club Wealth coach! Request your Strategy Session!