By: Bryan Brooks
A broker’s strategy for recruiting is critical to the ongoing success of their real estate company. Recruiting is a great way to expand your firm and your profits. There are many tactics for getting talent in the door, sometimes it’s not enough to attract new agents -- you want to attract top producers.
While it’s easy to understand the importance of recruiting, sometimes broker/owners struggle to differentiate themselves from their competition, have a hard time meeting individual needs or simply don’t have the time to recruit, while they’re focusing on the other aspects of their business.
In this blog, I will walk you through some of the tips and techniques for hiring successful, reliable agents that we find work for us here at HomeSmart.
Develop a Value Proposition That Means Something to Agents
There are countless brokerages for agents to choose from, so what makes yours unique? Agents want to see what makes your company valuable to them. A brokerage with technology, systems and tools that improve an agent’s real estate career, offers value to prospects. So take a moment and think -- What does your business to do increase its value proposition?
Agents are busy, so they look to their brokerage for support and resources. Maybe you offer free tools that provide efficient transaction management, comprehensive training, leads, larger commissions or marketing help. These benefits can easily sway a prospect.
Treat Agents Individually and Know Your Audience
Treat agents as individuals by offering a path to success for each; every path is different. Offer mentorship, teams, in-person and remote training, support, but not demands. Quality agents don’t want a cookie-cutter experience, whether they’re just getting started or are seasoned. Value each agent as an entrepreneur and provide the tools to shape each business his or her own way.
Understand what agents base their brokerage decision on. Experienced agents usually gravitate to brokerages with low or no commission splits and perks, like office space and custom marketing materials. New agents often make their brokerage decision based on mentoring and training opportunities and technology. Consider your prospects and the offerings that mean the most to them and adjust your pitch accordingly.
Agents appreciate transparency. Don’t over-promise or under deliver, but show the value of your brokerage and do not hide any fees. If you’re going to set any expectations, make sure they are realistic and set them upfront.
Promote a Culture That Agents Want to Be Part Of
As a broker, you are responsible for a positive company culture that agents will be happy to join. Experienced agents tend to be wowed by an agent-focused brokerage with a structure that doesn’t play favorites, but values every agent. A brokerage’s staff members’ first priority is each agent and his/her homebuyer.
As part of HomeSmart’s franchise model, we have centralized services that are available to our franchisees. Our centralized career services team is dedicated to recruiting on behalf of our brokers. Centralized career services works on behalf of franchise owners to email, call, set appointments and field questions from prospective agents.
By taking on many of the day-to-day recruiting tasks, those broker/owners are able to focus on higher value activities like agent support and overall brokerage growth strategies.