Sales contests have been around for a long time. I suspect 100,000 years ago, Neanderthals were competing to see who could sell the most caves. We know we are supposed to have them – but why? Are sales contests worth the effort your management team must invest? When executed correctly, the answer is a resounding yes.
Here are five reasons why integrating agent contests into your real estate company’s offerings is beneficial:
- Practical application: When contests are part of your learning culture and aligned with your educational offerings, learned concepts are put to immediate use. Skills and information are more likely to be retained. Furthermore, designing contests that reward desired actions and not just sales builds good habits, ultimately leading to long-term success.
- Agent nurturing: Just like we do for clients, we need to nurture agents so they feel valued and supported. Contests provide multiple opportunities to check-in and show you are invested in their success. Doors to better communication are opened as agents report their progress. Furthermore, data collected from key performance indicators and even surveys can identify areas of weakness and shape personalized agent mentoring.
- Relationship building: As agents participate in friendly competition, they build relationships. Celebrating successes and recognizing challenges in a social setting leads to a collaborative office. In the future, agents will be more apt to work together to solve problems and help out when life calls someone away from the office.
- Competitive spirit: Let’s face it, to be successful in the real estate industry, you need to have drive. Contests stoke your agents’ competitive fires and prepare them to outshine their competitors.
- Company culture enhancement: Contests are fun! They bring anticipation and excitement to your sales meetings. They allow your agents to be social and give us a reason to grow as a team.
Designing and executing successful contests requires work, but it is certainly worth it. Spark & Logic subscribers have the heavy lifting of contest creation done for them. We provide instructions, tracking sheets, flyer templates, and more. Learn more about how Spark & Logic can elevate your sales meetings and ignite your company learning culture.