In my journey as a real estate agent, I learned that building a successful brokerage is not as easy as it seems. After four years of stagnant growth, I realized that recruiting talented agents was crucial to our success. Today, our brokerage in Colorado is one of the fastest-growing in the region, adding an average of 40 new agents annually. In this article, I will share my strategies for recruiting real estate agents and provide tips for retaining them.
Why a Recruitment Plan is Essential
Attrition is inevitable in the real estate industry, and losing agents means a decrease in revenue and services for your remaining team. To combat this, having a well-thought-out recruitment plan is crucial. The right way to recruit is by building relationships and establishing trust with potential agents. This approach not only attracts the right talent but also increases the chances of retaining agents in the long run.
Identifying the Ideal Agents to Recruit
Before reaching out to potential recruits, consider the type of agents you can effectively support in your organization. Agents in different stages of their careers have varying needs. It is essential to ensure that you have the resources and infrastructure to meet those needs.
Finding and Recruiting New (or Newer) Agents
There are two types of new agents: those interested in obtaining a real estate license and recent graduates of real estate schools. You can target these candidates by advertising on job search platforms like ZipRecruiter or reaching out directly to real estate schools. Building relationships with these candidates early on increases the likelihood of them joining your brokerage after obtaining their license.
Supporting New Agents
If you plan to recruit brand new agents or those with limited experience, be prepared to invest significant time and resources in training them. Marketing, buyer and seller presentations, database management, and contract negotiation are areas where they will require guidance. Having a designated mentor or trainer and a comprehensive educational program at your brokerage is essential in supporting new agents effectively.
Finding and Recruiting Producing Agents
To recruit producing agents, you need access to their production data and contact information. This information can be found manually through Multiple Listing Services (MLS) or by using recruiting software like BrokerMetrics. Identifying producing agents in your target market enables you to focus your recruitment efforts strategically.
Supporting Producing Agents
Producing agents have specific needs such as a robust website, a reliable customer relationship management (CRM) tool, lead generation support, and a sense of community. Providing a supportive and engaging environment is crucial in retaining them. Regular team meetings, group lead generation activities, and fostering a shared vision or mission can go a long way in ensuring that your producing agents feel valued and supported.
Attracting, Recruiting, and Retaining Top-Producing Agents
Top producers, who typically sell more than 30 homes a year, seek opportunities, recognition, and a competitive compensation plan. To attract and recruit these agents, offer leadership roles, impressive titles, additional learning opportunities, or access to mentors. Providing them with exclusive experiences and recognition, like inviting them to special events, can set your brokerage apart. When it comes to compensation, focus on building a competitive package that appeals to their financial aspirations.
Effective Recruitment Scripts
Crafting effective recruitment scripts is essential in attracting the right agents while filtering out those who may not align with your goals and culture. Here are some proven scripts for different scenarios:
New to the Area Recruitment Script
If you or your brokerage are new to the area, start with curiosity when reaching out to potential recruits. Express your interest in their success and discuss how your brokerage can support their growth. Remember, genuine curiosity and transparency are key to success with this script.
Mid-level Agent Recruitment Script
For agents working in specific neighborhoods or communities, pay attention to their marketing efforts and contact them with a personalized message. Acknowledge their unique message or recent listing and highlight how your brokerage can help take their business to the next level. Honesty and transparency are crucial in this approach.
Events and Seminar Agent Recruitment Scripts
Hosting events and seminars can attract learning-based agents. Keep these events small and outside your office to make agents feel more comfortable. Present valuable information and position yourself as an expert in a trending topic, such as social media strategies or business planning. Convert attendees into recruitment leads by building trust through familiarity.
Top-Producing Agent Recruitment Script
Recruiting top-producing agents requires a direct and concise approach. Personal contact, such as a phone call or in-person meeting, works best. Highlight unique opportunities they may not find elsewhere, such as the chance to meet influential industry figures or join a growing organization from the ground up.
Handling Common Objections
As you reach out to potential recruits, be prepared to handle common objections. Remember not to be pushy and prioritize building long-term relationships. Here are some objections you may encounter and tips for responding:
- I don’t want to move at this time (too busy): Express understanding and emphasize how your support can make the transition easier.
- I am loyal to my current broker/office (I’m happy where I am): Acknowledge their loyalty and discuss the support and opportunities your brokerage can provide.
- I don’t want to leave my friends: Offer to introduce them to your team or brokerage, demonstrating how it can benefit everyone involved.
- I don’t want to deal with the hassle of changing companies: Address their concerns by explaining how you will assist with the transition process.
- I don’t know how I can support myself without leads (my broker gives me leads): Discuss the potential for increased income through lead generation strategies and support at your brokerage.
- Your company costs more than I pay now (I don’t want to pay more): Focus on the potential for increased revenue and demonstrate how the added expense can be justified.
- I think I could sell more homes if I were with a better-known company: Emphasize that consumers choose an agent based on individual expertise, not just the company brand.
Recruiting and retaining talented real estate agents is essential for the growth and success of your team or brokerage. By strategically identifying and reaching out to agents who align with your goals and culture, you can build a strong and thriving organization. Remember to approach recruitment with sincerity, and continuously adapt your strategies to attract the right talent.
Over to You:
I hope you found this guide helpful in your journey to recruit agents. Share your thoughts on our Ultimate Guide to Recruiting and let us know your secrets to successful agent recruitment in the comments below.