The 5 Must-Haves of a Successful Agent Recruiting Program
The definition of a “must-have” is something that’s an essential possession.
Something that’s 100% necessary.
And in recruiting, there are very few must-haves.
But because there are so many nice-to-haves that appear to be must-haves, it’s easy to confuse the necessary with the optional.
So, to help you hone-in on what’s truly important, here are the five must-haves of a successful recruiting program.
Must-Have #1 – A Hook
A hook is what gets agents to agree to meet with you.
It’s a compelling benefit statement that piques prospects’ curiosity and causes them to want to learn more about your company.
An example is, “What if you could earn six figures working by-referral only and still have time for a personal life?”
If you struggle to get appointments with productive agents, the lack of one or more compelling hooks is the likely cause.
Must-Have #2 – An Irresistible Offer
It’s the hook that gets you appointments, but it’s the offer that gets you joins.
And there’s a difference between an offer and a value proposition/USP (unique selling proposition).
A value proposition is important, but it’s also static. It’s your general statement of how you’re different from your competition.
An offer is the unique proposal you make to each individual agent you meet with.
If you go into your recruiting appointments with the goal of sharing everything you offer, you’ll struggle to hire agents.
But, if you go into your appointments with the goal of creating irresistible offers specific to the agents’ individual needs, you’ll find much greater success.
Must-Have #3 – Competitive Commission Plans
There’s no such thing as a true 100% company.
Every brokerage must make money, so the only questions are what they charge and how they charge it.
And since there’s room in every market for a variety of business models, you don’t need to be the cheapest brokerage in your market to recruit.
But, you do need to have competitive commission plans as compared to your direct competitors.
If another brokerage offers a similar set of service as yours but has more favorable pricing or terms, you’ll lose agents to that brokerage.
Must-Have #4 – Trust
The biggest reason agents don’t switch companies - even when it’s in their best interest - is fear.
Fear they’ll make less money.
Fear of what their broker, peers, or clients will think.
Fear their new brokerage won’t deliver on its promises.
And that’s why the most important must-have is trust.
If you can inspire agents to trust they’ll be better off with your company, they’ll join.
But if you can’t inspire that trust, you’ll have no shot at hiring them (no matter how good your hook, offer, and commission plans).
Must-Have #5 – A Positive Onboarding Experience
It pains me to watch brokers invest time, energy, and money in hiring agents only to have those agents leave a month or two later.
And when that happens, the culprit is almost always a negative onboarding process.
You can’t undo your first impression with a recruit.
So do everything possible to create a positive onboarding experience for new hires.
At a minimum, introduce them around the office. Walk them through your services, policies, and procedures.
And check-in with them often.
A positive onboarding experience isn’t just crucial for retention, it’s also one of the best ways to get referrals sent your way.
P.S. – Trust is far-and-away the most important must-have. But, the hook is what most brokerages lack.
If you can create a hook that motivates agents to meet with you, you’ll have plenty of opportunity to improve the other must-haves.