These Are the Real Estate Recruiting Truths You Need to Know
One of the things I love about recruiting is there’s no “right way” to do it. Different strategies and marketing messages can work in different circumstances.
Yet, there are some universal recruiting truths you need to know if you want to hire experienced, productive agents.
Truth #1 – You Have to Ask Agents to Join (When You Want Them)
If you end your recruiting appointments without asking agents to join your company, you’re making a critical mistake.
No, most agents won’t join on the spot. But if you don’t at least ask, you’re guaranteed to miss out on the agents who are ready to sign up that day.
Believe it or not, some agents assume you don’t want them if you don’t ask them to join. They leave the interview disappointed and thinking they screwed up somehow.
Other agents would have joined on the spot, but the lack of an invitation makes them believe they should “think it over”. And we know what happens when prospects leave your office to think things over.
Any time you interview agents you want to hire, ask them to join before you let them walk out of your office.
Truth #2 – You Don't Have to Present Every Commission Plan You Offer
Have you ever heard the saying, “A confused mind always says no”? It’s an old sales adage that serves as a reminder to make it as easy and simple as possible for people to buy.
If your company is anything like most brokerages, you offer several different commission plans. But just because you offer the plans doesn’t mean you need to share every one of them in your recruiting appointments.
When the time comes to discuss compensation with a prospect, select the plan you feel would be the right fit based on your conversation to that point. Present the plan and ask the prospect how she feels about it.
If the prospect agrees the plan is a good fit, move to the next step in the interview process. If she raises objections to the plan, either overcome the objections or present a different option (if you have one that’s a better fit based on the objections).
Present only one plan at a time and get agreement or disagreement on it before moving forward with the interview process. This will prevent the prospect from becoming confused over which commission plan is the right fit.
Truth #3 – Your Competition Matters Less Than You Think
More than half of all brokerages report they do not actively recruit according to the 2016 NAR Profile of Real Estate Firms. Of the 47% of brokerages who do recruit, I’d wager less than 10% have the systems and processes in place to hire experienced, productive agents.
Because few companies dedicate meaningful resources to recruiting, most of the agents in your market know little to nothing about their brokerage options. If you work to get appointments with these agents, you can hire them before they ever interview with your competitors.
Don’t worry about what the competition does or does not offer. Instead, focus on building the recruiting systems and processes that will generate a steady flow of appointments for you.
Truth #4 – Consistency and Variety Are Key
Recruiting is about hitting your prospects at the right time and with the right message. The problem is you rarely know in advance when either the timing or message is right.
To give yourself the best odds of connecting with recruits, stay in front of them on a consistent basis through a variety of channels (email, calls, social media, etc.) and with a variety of marketing messages.
If you aren’t consistent with your recruiting, challenge yourself to do at least one thing per week that gets you in front of your prospects. If you aren’t using a variety of channels and messages, challenge yourself to experiment with at least one new channel or message per month.
P.S. – Generating appointments is the key to growing your company. If you’re struggling to convince experienced, productive agents to agree to a meeting, send me a message and let me know. I’d be happy to share some strategies that are working for my clients.