There are two major levers a Broker can use to affect the growth of the office. The first is population. How many agents the office has. The second is per-person production. How many transactions each agent does on average.
The population of the office is a function of two things: Recruiting and Retention.
Both are essential to the success of the office. With that said, recruiting is the most direct way to influence growth. It is the lifeblood of our business. It is also the single most important skill a broker can develop.
Consider the normal attrition rates in our offices.
Recruiting becomes an all-important activity to maintain, let alone grow our office. Normal attrition rates for experienced agents is seven to eight percent. This accounts for death, relocation and retirement. Experienced agents defined as active, producing agents with more than two years’ experience. Normal attrition rates for new agents are between thirty and thirty three percent. If you have 100 seasoned agents, you need to recruit 7-8 every year to maintain your population.With 36 new agents, you need to recruit 1 a month to cover the natural turnover.
If your brokerage is bleeding at a higher rate, you will have to work harder. We have so many reasons to recruit. Why is it we allow obstacles and challenges of the day to stop us? What prevents us from capturing, cultivating and converting new business? Is this not the vital activities we expect our associates to do? It is at the foundation of our business.
As Brokers, our customers are real estate associates.
To serve them well, we must understand their pains, motivation, strengths, and dreams. The ability to recruit sales associates requires a heightened level of expertise.
This Master Class will give you the tools to recruit like a pro.
We will take you through the process from A to Z. We will start with the research and planning. Then we will flow into lead generation and follow up. We will then tackle the appointment and conversion process. Our journey will end with the hiring and empowering of the recruit to maximize referrals.