Whether it’s end of year or been a slow season, sales contests are great way to motivate your real estate agents and drive sales for your business. To ensure your contest is successful, it’s important to consider budget and the type of contest you’re going to run. Our expert Sue Sichler, National VP of Sales for 2-10 Home Buyers Warranty®, shared with us some insight on what it takes to make a winning sales contest. Sue has over ten years experience managing highly successful sales contests.
Budget
- How much can you spend on a sales contest? Before deciding on how much each person has the potential to win, first identify the total number you can contribute to the contest.
- Identify how your payout will be distributed.
Payouts should be meaningful enough to catch the attention of your sales team, but not be overly extravagant to where it’s all they focus on. In other words, you don’t want customer service to fall by the wayside.- Depending on the contest, you’ll either have one big winner or allow for different levels achievement.
Contest Type
Sales contests should reward the behavior that drives your mission statement. When it comes to real estate, it’s more than just sales, it’s account management, customer service and so much more.
Here are a few contest ideas:
- Listings by volume (monthly, quarterly or annually)
- Largest number of listings revenue (by sales price of the listing)
- Cycle Time (how many days does it take to sell your listing?)
Motivate your team
Build excitement and get creative! Use email, text or even weekly meetings that update your sales team on where they stand in the contest—create some competition. Also, provide timely tips to help improve sales techniques or even sending words of encouragement can go a long way.
Sue Sichler, National VP of Sales for 2-10 Home Buyers Warranty®
