How to Recruit More Agents by Doing Pre-Appointment Research
Want to convert more of your recruiting appointments into hires?
Although there are many ways to improve your appointment-to-join rate, the most overlooked is doing pre-appointment research.
The more you know about an agent in advance, the better you can tailor your questions and value presentation to that agent’s specific needs. And the more you speak to an agent’s specific needs, the more likely it is you make the hire after the first appointment.
So, the next time you have a recruiting appointment, set aside 30 minutes ahead of time to research the following.
Production History & Trends
Start by checking the agent’s production history and trends. You can do this in the MLS or by using a program like BrokerMetrics.
Go back at least three years and find answers to these questions:
Is production consistent/increasing/decreasing year-over-year, or is there no clear trend (up and down)?
Is production consistent month-to-month, is it boom and then bust, or is it seasonal?
Is average sales price consistent, increasing, decreasing, or all over the map?
Does the agent work more with buyers or sellers? Is it consistent year-to-year, or does it vary?
Does the agent appear to work in a defined geographic area, or does she sell all over town?
MLS Listings & Sales
Once you’ve looked at production history and trends, pull the agent’s active, pending, sold, expired, and withdrawn listings from the last year. For listings, examine:
The quality of each listing (photos, comments, completed fields)
Average days on market, list price vs. sales price, and buyer’s agent commission offered
Number of sold vs. expired or withdrawn listings
Number of price reductions required to sell listings
Type of listings (REO, short sale, estate, investment, condo, etc.)
How often the agent double sides the deals (if legal in your area)
For buyer sales, you just need to examine sales price vs. list price and the types of listings sold.
You can learn a lot about an agent by looking at her marketing (or lack thereof). Googling the agent’s name and/or primary email address should give you everything you need.
Be sure to check out any websites, social media profiles, Zillow/Trulia/Realtor.com profiles, and other links that pop up in the first couple pages of results. Make note of any strengths, weaknesses, opportunities, and red flags.
Using the Information
Compliment the agent on areas of strength early in the recruiting appointment. This not only shows you care enough to have done your research, it also builds trust and rapport.
As the appointment progresses, ask questions about any opportunities, weaknesses, and red flags you noted during your research.
But, be gentle with those questions. You don’t want to put the agent on the defensive or make her feel she’s under attack.