It’s easy to play the blame game when an employee fails at their job but statistically speaking it is rarely a problem with the employee and more often a problem with a whole host of issues with regard to hiring, training and management.
In part one of our 3-part Thinking Ahead to 2025 series, we reviewed the most common reasons an employee decides to move on from a company. In this blog, we are going to take a look at the most common reasons employees fail to perform as expected in their positions.
As we look ahead to a more robust market in 2025, it’s critical that title agencies put in place the strongest framework for success and that includes ensuring everyone on staff is ready to hit the ground running.
Let’s take a look at hiring snafus, training lapses, leadership absenteeism and resource deficiency.
When the real estate market heats up, hiring managers are thinking they just need to get bodies in the seats to get the job done. But putting someone in a job for which they are not suited means other staff members are impacted as they try to pick up the slack or have to devote extra time to training and handholding.
To ensure your new hire has the skills needed, craft an in-depth job description to make sure the employee matches up to the requirements needed and that the new hire agrees to the scope of the job.
Training should never be limited to the first week on the job. Many employees fail because they are not properly trained not only in all aspects of the job, but in the expectations within the company culture.
Successful companies invest in ongoing training and mentoring programs to ensure employees are not only competent to do the job in front of them, but also given the education and opportunities to rise in the company.
In addition, a lot gets thrown at new employees during training, and it can be difficult to absorb it all. Some new employees may be reticent to admit they can’t figure something out or have forgotten what they learned in training. Acknowledging that complexity and encouraging your new hires to ask questions when needed will help. More importantly, checking in to see if they have questions opens the door to a conversation that they may be reluctant to initiate.
Employees cannot read minds and lack of leadership and direction are sometimes the source of someone appearing to fail at their job. Routinely setting goals and objectives for staff and then revisiting those goals and objectives will help your people continuously fine tune their own work focuses to meet those objectives more successfully.
One key aspect of this process is prioritization. Employees can be saddled with many more tasks than they are capable of achieving in a day, a week or a month. If managers are clear on the priorities. it helps your staff ensure the most important items are addressed first.
Objectives and goals are great, but if your staff lacks the resources to achieve those goals, they become pretty meaningless, and the entire process can be demoralizing. When setting your goals for 2025, make sure you include staff in those discussions so together you can identify what resources are essential to meeting the objectives.
And speaking of resources, when you find you need additional help, reach out to us at Closing Suite and FAN. We can help you grow your agency, by taking on those specialized tasks that help you focus on your greatest strengths. Contact us today to learn about how we can assist you with eClosings with RON, municipal lien searches, HOA estoppels, mortgage payoff ordering and tracking, mobile home title services and more.
The pendulum is swinging back with all signs pointing to an improving housing market in 2025 and companies in the real estate, lending and title insurance industries must be prepared to meet the anticipated uptick in demand.
While you may not be leaping into hiring mode at this moment, what you want to avoid is losing good, experienced employees just when things are heating up.
To prevent staff losses, you first have to understand why employees leave. (Hint: It isn’t usually about the money.)
Here are some of the more aggravating conditions that inspire an employee to go looking for work elsewhere.
A poor working environment, especially a toxic culture, is most often ranked as the number one reason that employees leave their jobs.
Most employees spend 40 – 60 hours per week at work. That is a huge chunk of time to be miserable so it’s not surprising employees in that situation have their resume floating around town.
Sometimes a toxic work environment is a top-down problem, with managers favoring autocratic, authoritative and macro-managing tactics. But often even in the most enlightened and progressive companies there are pockets of toxicity that are hidden from view.
For instance, an individual manager may be a terrible communicator, or worse a passive aggressive personality that makes staff feel uncomfortable and unsure of what is being asked.
Bullying by managers or other staffers is another behavior that can send employees running for the exits or lead to anxiousness, mediocre performance and lack of motivation.
Every company should have an established protocol for employees to report any behaviors that are making them feel uncomfortable and those issues should be addressed quickly and respectfully.
Human beings want to grow in their careers and being slotted into one repetitive job with no hope of professional growth will seem like a dead end in brief period of time.
Growth doesn’t just mean a pay raise or a promotion. Often it is about learning a new skill, attending in person or online training to gain deeper insight into the work they are already doing, or being invited to the table to be part of developing new initiatives.
When employees are denied opportunities, they are likely to walk away. Investing in employee development can cultivate long-term loyalty as your people feel a shared interest in growing the company through enriching their own fund of knowledge and expertise.
In spite of how many hours we spend at work, we all have a life outside the office. An employee is a human being with personal obligations and companies who respect that truth are far more likely to keep their employees long term.
On the flip side, managers who resent someone leaving early to attend to a sick child, complain when someone takes a vacation, or legislate how and when someone takes their lunch hour is just aggravating.
Allowing your staff flexibility to take care of their families and their personal health creates happier and healthier workers. This can include everything from flex hours to working from home. It also means allowing employees to carve out time for medical appointments, the grace to respond to family emergencies as needed, and the freedom to take time at lunch to exercise.
Providing adequate PTO days and a plethora of other benefits also lets your employees know that you value them personally as well as professionally.
As you strengthen your staff for the work ahead in 2025, consider contacting us at Closing Suite and FAN to learn about what additional resources we offer to help you meet the demands of an expanding market. Contact us today!
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According to a U.S. Chamber of Commerce report released in 2021, insurance industry professionals are aging at a dramatic pace, with the number of insurance professionals aged 55 and older increasing 74% in the previous decade. Consequently, the Bureau of Labor Statistics estimated that 50% of the current insurance workforce would retire, within 15 years, leaving hundreds of thousands of positions unfilled.
As a title insurance industry professional, you have no doubt experienced this firsthand, as you struggled to fill empty seats in recent years when your most experienced talent opted out for retirement.
While this may not be on your radar at this time, the real estate industry in traditional fashion will ramp up again in the future and agencies must have a plan to fill the seats with trained staff ready to meet escalating demand.
Many managers have a simple plan for hiring – work with a recruiter or post the job themselves when they need to fill an empty slot. That’s a short game.
In title insurance, you need a long game because it is a niche industry. No one graduates from school with a degree in the discipline. Even highly trained lawyers get only a smidgen of real estate law in law school.
A successful recruitment plan must include the following:
Once you know what you are looking for, the next challenge is where to look, and this requires a lot of strategy and planning as well.
Many managers in the title industry begin by looking at the narrow pool of title insurance professionals for their next candidate. But in a high employment environment in a booming real estate market that is like looking for a needle in a haystack.
In addition to looking at the existing pool, identify other professions that exemplify similar attributes and skills and who – with sophisticated industry training – can apply these skills successfully in a title insurance environment.
Candidates who have experience in real estate, lending, banking, accounting, bookkeeping, paralegal, sales, and marketing all have the potential to be trained to the particulars of title while bringing fresh eyes to the work of the agency.
Another tactic involves being dedicated to playing the longest game of all.
The graying of the title insurance industry is a reminder that future staffing is going to be heavily dependent on outreach to millennials, Gen Z and beyond. Title remains a hidden industry to this cohort and establishing a relationship with local educational institutions to teach the next generation about the opportunities in title, as well as introducing coursework that will get them started down the path, is the most robust way to generate a pool of talent for the future.
There is a remarkable advantage to putting in the time and effort to reach out to and educate millennials in particular because they have several of the attributes that are perfect for our industry, including that they are collaborative, eager to learn and develop new skills, excel at problem solving, open to ongoing feedback, and desire a job with a purpose.
If hiring your next talent from another agency is a short game, doing nothing in a slow market is a short-sighted game at best. If you are an innovator that is looking at future opportunities to grow your agency, planning now for how you are going to staff to meet your growth potential may be the key to your success.
At Florida Agency Network, we pride ourselves on hiring, training, supporting and retaining the best people – professionals who pride themselves on delivering world class service to our clients and partners! If you don’t usually process Florida transactions, get in touch. Our team would be delighted to help you help your clients here!
In our fast-paced world, achieving a healthy work/life balance can often seem like a distant dream. However, it is essential for both personal well-being and professional success. Our industry is known for its demanding nature, with irregular hours, high client expectations, and constant pressure to close deals. Nonetheless, by implementing effective strategies, professionals in this field can find equilibrium and lead more fulfilling lives.
Set Boundaries: In real estate, where clients may expect availability 24/7, setting boundaries is crucial. Clearly defining and communicating your working hours to clients and colleagues can help establish expectations. Setting realistic limits ensures personal time is respected. For instance, you might decide that after 7 PM, you’ll respond to emails and return calls the next morning unless it’s an emergency.
Prioritize Tasks: With numerous tasks competing for your attention, determining which ones deserve priority is key. Start by identifying high-impact activities that align with your goals. Tools like digital planners or apps can be lifesavers in organizing daily tasks, ensuring you focus on what truly matters. By prioritizing effectively, you improve productivity, reduce stress and address critical tasks.
Delegate and Outsource: Real estate professionals often wear many hats, from handling marketing to managing paperwork. However, you must recognize that you don’t have to do it alone. Delegating tasks to team members or outsourcing administrative duties can free up your time for high-value activities. Consider hiring a virtual assistant or finding a service that can handle tasks remotely.
Utilize Technology: Technology is a powerful ally in streamlining work processes. Customer relationship management (CRM) systems can automate and organize client interactions, saving valuable time. Automated marketing tools like Mailchimp help with email campaigns, while virtual tour software such as Matterport can enhance property showings without physical presence. Leveraging these technologies not only boosts efficiency but also improves client satisfaction.
Schedule Personal Time: Blocking time for personal activities is as important as scheduling work meetings. Whether it’s exercise, a hobby, or spending time with family, these activities are vital for mental and physical health. Treat these personal appointments with the same importance as work commitments. Use calendar reminders and notifications to avoid overlooking this essential schedule aspect.
Learn to Say No: The ability to say no is a powerful skill in maintaining a manageable workload. Only some opportunities or requests will align with your priorities. Politely declining tasks that don’t fit your schedule or don’t contribute to your goals can prevent burnout and maintain focus on what truly matters. Remember, saying no to one thing often means saying yes to something more significant.
Practice Self-Care: Self-care is not a luxury but necessary for real estate professionals who wish to sustain their productivity and passion. Ensuring adequate sleep, a balanced diet and regular exercise are foundational elements of self-care. Integrating mindfulness practices like meditation or yoga into your routine can help reduce stress and improve mental clarity. Several platforms offer guided sessions for beginners.
Seek Support: Building a supportive network can make a significant difference in achieving work/life balance. Engage with colleagues who understand the unique challenges of the real estate industry. Sharing experiences, challenges, and successes with peers can provide valuable insights and encouragement. Don’t hesitate to seek advice from mentors or industry veterans who have successfully navigated similar challenges.
Achieving work/life balance in the demanding world of real estate is not only possible but necessary for long-term success and fulfillment. You can create a more balanced and satisfying professional life by setting boundaries, prioritizing tasks, delegating responsibilities, utilizing technology, and taking care of yourself. Remember, balance is a continuous process of adjustment and evaluation—what works today may need tweaking tomorrow. Always be open to change and prioritize your well-being alongside professional achievements.
A first-time homebuyer or aspiring homeowner can need guidance regarding improving a credit score, which can be a game-changer for their real estate endeavors. A higher credit score increases the chances of securing a mortgage and helps buyers receive better interest rates and terms. Check out this information that can help build credit scores.
By cultivating these healthy credit habits, credit scores are boosted, and buyers are favorably seen by lenders. This proactive approach can lead to better mortgage terms, lower interest rates, and a smoother path to achieving homeownership dreams.
Share these tips with your clients. It enhances and strengthens client relationships. By guiding clients through the credit improvement process, you're helping them secure their dream homes and establishing yourself as a knowledgeable and valuable resource in the homebuying journey.
FANFidelity Bulletin
Remember when short sales were going through the roof, and title companies had to set up new departments to manage the complexity of these transactions? As interest rates go up and down, employment opportunities rise and diminish, or factories close down and new businesses open, title agents have to keep their eye on the trends in the market to be prepared to meet the demand in specific niches.
Florida is such a powerful case in point. The escalation of manufactured and mobile home sales has grown dramatically over the past decade, keeping title agents on their toes to meet the unique requirements for these transactions. While we can anticipate changes in the marketplace, we can’t always perfectly predict what will happen. The best approach for a title agent is to take steps now to have options for meeting unusual demand in any direction.
While your veteran staff is perfectly able to shift from one type of transaction to another, younger staff may not yet have had enough transactions come across their desk to understand all of the nuances of more challenging situations such as homes being sold through probate, with a power of attorney, or by a foreign owner.
Title companies have always had to be flexible to meet a shifting market. To prepare your agency for an influx of REO, refinance transactions, or other specialty transactions, take an inventory of your staff skillsets and experience to determine if there are any gaps that need to be addressed.
You don’t always have to resort to hiring to beef up your staff’s ability to manage every type of transaction. Cross-training is a cost-effective way to prepare more employees to handle unusual situations. Cross-training also offers a host of other benefits.
For a title agency, the most important benefit may be that it creates a more collaborative and empathetic environment among the staff. This is hugely important when work starts to ramp up, as it surely will when the mortgage rates come down. A cross-trained staff that understands the complexity of what other employees are working on increases employee engagement and commitment to working together through logjams.
Cross-training also helps when, through illness or family crises, an employee’s work has to be shifted to another staff member. Having someone ready to step in ensures greater continuity for your customers.
Many companies offer tuition reimbursement and industry training as an added employment benefit. This sends a message to your employees that you value them and that you want to invest in their future. However, this benefit often comes back to the company in terms of increased productivity, greater competency and an ability to offer a broader menu of specialized services to your customers.
During your annual reviews with each employee, explore opportunities they are interested in and encourage them to research and propose training opportunities that will increase their knowledge and expertise.
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