Recruiting and Retention – The Foundations of a Real Estate Company

In reflecting on real estate topics for which I have an opinion (and there are many!), recruiting and retention seem to be popping up more and more during my discussions with owners.

Today I want to talk about Recruiting.

It’s obviously easier for someone outside of the “fish bowl” to see more clearly some of the stumbling blocks and frustrations you may encounter for coming up with an effective, refreshing and results oriented recruiting and retention campaign.

So, I thought I’d share a couple of insights from outside the “fish bowl”.

Here are a couple of questions to consider as you objectively look at how your managers are recruiting:

  • Are they calling agents to meet for coffee?
  • Are they telling agents they’d like to get to know them?
  • Are they calling agents because they want to tell them about the latest and greatest tool or system you have to offer them?

If so, then sadly your recruiting may not be as successful as you desire because you and your competition have the same script.

Here’s what agents who are being recruited by their competition tell me:

  • Most of the time the recruiting calls are annoying because they all sound the same.
  • Sometimes though, it’s an opportunity to find out what the competition is up to.
  • If they get an offer from a competitor, they see it more as an opportunity to re-negotiate their present contracts.
  • It’s ego building when a manager almost begs to meet with them.

Well, sounds rather degrading and disrespectful.

Here are some things you might consider:

  • Identify the qualities of a real estate recruiter (what makes a good recruiter)
  • Determine if the manager is recruiter material (not all of them are)
  • Develop a program that empowers your managers to be successful recruiters
  • Work on getting your managers to think like the CEOs of a profit center
  • Get rid of the old approaches
  • Create dialogue that has more of a corporate business building spin

You want to recruit agents who know exactly where they want to take their business.

You want to recruit agents who understand that they are their own profit center.

You want to recruit agents without giving away company dollar.  That’s not recruiting, that’s “buying” and a very dangerous approach.  Most agents who are bought have no compunction against selling out to the highest bidder once the contract has ended.

You want to recruit agents who appreciate the opportunity to join a forward thinking company that welcomes them as a long-term business partner.

 

Have a question?  Ask Suzanne! Leave a comment below or email me directly at Suzanne@ATrackCoaching.com or visit my website. Better yet, do all 3!

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