4 Secrets to Recruiting Real Estate Agents to Boost Profitability
Insights from a Real Estate Recruiting Coach
There are four secrets to recruiting real estate agents to boost profitability. As real estate recruiting consultants, we have developed a fool proof system to generate real results. It tailors your brand and voice into a compelling message. Communicating value to easily solve your problem of recruiting real estate agents.
The purpose of our Multi-Channeled Recruiting System is to create a wholistic approach to recruiting your ideal candidates. We have a number of recruiting resources available to help you set goals, define benchmarks and evaluate your Return on Investment (ROI). Those are all helpful for individual situations, but this is where you are going to get the roadmap to get from where you are to where you want to go.
Recruiting real estate agents starts with our system to attract your ideal candidate using common Core Values. It positions you as the leader in the marketplace around your Inherent Strengths. The system highlights you and your brand while also offering the strategic comparisons of the company Unique Value Propositions (UVP’s) and Brand highlights.
Secrets of recruiting real estate agents: First, we need to start with where you are.
Core Values
Your team needs to be built around your common Core Values. High turnover and attrition levels are chronic in organizations built without shared values. The natural attrition level is between 7-8% a year. Natural attrition is those leaving due to death, retirement or relocation. Over that number, you start seeing people leaving one team and moving to another.
We often focus on the recruiting side vs the retention side as an industry. At RE Luxe Leaders, we focus on population. It takes both into consideration. Truth be told, we have seen “great” recruiters who are celebrated but also have just as many people leaving each year. I’ve also had more than one discussion with Broker/Owners on a “marginal manager” who “can’t recruit” who only brings in a handful of agents a year, but keeps everyone by driving a crazy amount of loyalty.
If you haven’t already, take the Core Values assessment. These are the starting point for you as a manager. In our Private Client coaching, we look at the top 3-5 at the agent level. For leaders, it becomes important to look at all of them you are more than 50% in. That is your tipping point when attracting agents.
Inherent Strengths
Your Inherent Strengths show us what to position you around. We all have our things we do better than anyone else. We need to focus around those. Recruiting is really 80% about the leadership personality and 20% about your offering in the real estate game.
Secrets of recruiting real estate agents: Recruiting System for the Pool
The Pool is defined by all the agents currently working or living within a 20 minute drive from the office. Yes you will find outliers, but it’s a bad business practice to build systems around them. In a world with so many choices, agents will only commute so far for their affiliation.
Social Media
Have consistent representation and posts on the following social media outlets:
- LinkedIn – Professionally minded posts about professional growth, stats and announcements
- Facebook – Posts highlighting the culture and human side of the leadership, staff and agents
- Twitter – Posts with links back to other social media outlets, market announcements, and business building tips
- Instagram – Posts highlighting office culture, community involvement and events
- YouTube – A great place to highlight videos of what it’s like to be on your team with training and culture videos.
Consistent messaging going out to the entire pool.
- Branding messages – Highlighting the Company UVP’s
- Welcome to the Team – Highlighting the agents who have joined
- Training and event invitations
- Messages around who we are, what we believe and most importantly, why we do
Phone Calls
- Quarterly voice mails with invitations to events.
Events
- Quarterly events, two social and two educational.
Snail Mail
- Postcards about the UVP’s that go out quarterly.
Secrets of recruiting real estate agents: A Multi-Channeled Recruiting System for the Target
The target is defined by the top 250 agents you designate as targets from the pool. Each person in your target should get something personal from you every 90 days. One by email or social messenger, one by phone and via text. Stagger them so you have roughly 80 in each stage of the rotation. This works out to 20 per week via each channel.
Social Media
Consistent representation and posts on the following social media outlets. Ad re-directs, and paid placement in Facebook and Instagram.
- LinkedIn – Professionally minded posts about professional growth, stats and announcements
- Facebook – Posts highlighting the culture and human side of the leadership, staff and agents
- Twitter – Posts with links back to other social media outlets, market announcements, and business building tips
- Instagram – Posts highlighting office culture, community involvement and events
- Branding messages – Highlighting the core UVP’s
- Welcome to the Team – Highlighting the agents who have joined
- Training and event invitations
- Personal communications that are situationally relevant.
Phone
- Quarterly personal calls by the leader.
Voice Mail
- Quarterly voice mails in the leader’s voice to invite them to an event. There is software out there to automate this.
Text
- Quarterly texts in the leader’s voice to check in and touch base. There is software out there to automate this.
Events
- Quarterly events, two social and two educational.
Snail Mail
- Postcards about the UVP’s that go out every 6 weeks.
Secrets of recruiting real estate agents: System for Referrals (Co-op agents, agent referrals)
- Personal call co-op agents.
- Send out congratulations cards or emails on new listings in market area.
- Leader to acknowledge agent referrals when they are given.
Additional Secrets of recruiting real estate agents: Campaigns for an effective Multi-Channeled Recruiting System
- New Agents – Work with the local schools to promote mentor program to enhance recruiting real estate agents.
- New Recruits – Strategies and tactics to exploit every time a recruit creates an opportunity within a competitor.
- Implement a solid 60 day program of on-boarding that instigates referrals to boost your recruiting real estate agents.
- Do a brand specific blitz recruiting campaign that can be executed against the office the new recruit came from within 10 days of joining.
Ready for the next level? Our clients have access to our Recruiting Master Class.
A Parting Thought
We hope that the information provided is helpful in guiding you on your journey to building a thriving real estate business.
As luxury real estate broker consultants, real estate recruiting coaches, real estate business consultant, and CEO consultants for real estate, we are confident that our resources, insights and strategies can help you achieve your goals.
Remember, success in the luxury real estate industry starts with knowledge and strategy, and we are here to provide you with both.
Here are some links to our more popular resources:
Downloads for your Real Estate Business
Luxe Real Estate Report and Forecasts
Tools for your Team or Brokerage
For additional and real time insights, updates and news from our Founding and Managing Partner, Chris Pollinger, you can follow him on LinkedIn – Twitter – Facebook – Instagram
