How To Recruit Your Ideal Real Estate Agent
MIDDLETON ELITE COACHING PARTNER + HEAD COACH, DEBBIE LARIVIERE FOR REALTRENDS
Great companies attract great people. You must first be their ideal team or brokerage to recruit your ideal agent. You can do so through an effective recruiting model, a strong value proposition, recruiting the right levels of talent, and with the systems and added tools to help them reach their desired levels of success with your company.
The foundation of recruiting begins with establishing rapport and lowering the candidate’s guard about “being recruited.” Your success depends on the candidate:
- Liking you
- Trusting you
- Believing you can help them get to the next level in their business
The 4 Points of Recruiting
The 4 Points of Recruiting is an effective recruiting model to spotlight a candidate’s successes and identify gaps your team or brokerage can fill.
The 4 Points of Recruiting are income, availability, activities, and environment. Including each point in your recruiting conversations will allow you to assess a candidate’s current situation and offer solutions through your value proposition.
Begin by having the candidate share their career journey with you. Learn about their previous roles, progression into real estate, and goals. Ask questions about each of the 4 points below.
Ideally, how much money would you like to earn in the next year?
Explain that you view income through four levels rather than an amount they want to earn. The four income levels consist of survival, comfort, fun, and holy cow. Instruct the candidate to consider the number that comes to mind as you review the four levels.
Survival: How much money do you need to earn to survive in the real estate profession?
Comfortable: How much money do you need to earn to be comfortable? This means enjoying your lifestyle while checking your bank account less frequently.
Fun: How much money do you need to earn to have fun? For example – purchasing extras, taking vacations, or increasing your investments.
Holy Cow: How much money would cause you to say, “Holy Cow, this is more money than I ever thought I could earn in real estate!”?
Ideally, how many hours per week would you like to work to maintain your personal view of work/life balance? What would need to change to achieve more balance?
Use your understanding of the candidate’s ideal work/life balance to reinforce your value proposition. If their desired balance is possible, it’s important to mention so.
What activities would you like to be doing when you are working? What dollar-producing activities bring you the most satisfaction?
Share what services your team or brokerage provides that will allow them to focus on the activities they enjoy.
Ask the candidate to describe their ideal work environment. This includes a need for office space, interaction with other agents, and support provided by the brokerage.
If their ideal environment matches the environment your team or brokerage offers, it’s important to articulate the benefits.
Why Choose You – Recruiting Your Ideal Candidate
Do you have a clear vision of your ideal candidate? Does your value proposition correlate to their future success?
A candidate will evaluate your value proposition and “what’s in it for them” when considering a change. There are two main reasons an agent typically transitions from teams and brokerages.
1. They didn’t feel a connection between your team/brokerage offering and their level of success. (Availability, Activities, Environment)
2. They found a better compensation model for their production level (Income).
To recruit and retain agents and team members that fit your ideal candidate, it is essential to consider what you offer based on their talent levels.
Levels of Talent
Agent recruits can be categorized into three levels of talent:
- Potential Talent
- Emerging Talent
- Proven Talent
Potential talent is newly licensed agents with less than 8-12 deals in the previous year. These agents will need additional training opportunities and mentoring on the business basics.
Does your value proposition offer a roadmap for success to 24-30 units, one-on-one accountability, technology, training on market trends, scripts, role play, and “how to” or “done for you” marketing? If not, you must likely recruit an agent from emerging or proven talent levels.
Emerging talent is the agent or emerging team that has closed 30+ units and is looking to continue to grow the business.
To appeal to this group of candidates, your offerings should include opportunities for leverage, additional lead-generation tools, and bigger-picture collaboration. Your brokerage could also offer transaction coordination, listing management, vendors, systems for hiring, and a candidate pool of resumes of agents and administrators to share with your agents that are growing a team.
Proven Talent is agents continually in the top 15-20% of their market and at higher production levels.
To attract high-producing agents, your value proposition must address the pain points you can solve in their business. Agents with a proven talent level are looking for increased efficiencies, to surround themselves with talented people, and perhaps an exit strategy from the day-to-day business.
Systems and Value Adds For Recruiting Success
A candidate will view your recruitment as enticing if your company’s value proposition includes the systems and tools that allow them to excel.
Like a well-oiled real estate business, systems are the foundation for recruiting success.
Examples of systems and value adds are:
- A CRM that offers campaigns and production reports
- Workflows that allow for increasing your brokerage brand awareness
- Strategic or ‘done-for-you’ marketing plans
- Training and mastermind events
- Community involvement and promotions
- A strong Onboarding Guarantee
- A Comp Plan commensurate with their level of talent and production
- Lead sources
- Helping them transition from their current team or brokerage to yours
One of the most important systems is your Onboarding Guarantee. Your Onboarding Guarantee helps with a seamless transition and should include what the agent can expect within the first 10 days. This systematic process can significantly impact their initial commitment to joining your team or brokerage.
Help Them Navigate The Conversation With Their Current Broker
When an agent commits to joining you, they must feel supported in their decision. You can add value to an agent recruit by offering to guide them on what they might expect during the conversation with their current broker. Offer to coach them through possible objections so they can navigate the conversation confidently.
They’ll like you if you are a good listener.
They’ll trust you if you pay attention.
They’ll believe you can help them get to the next level of their business if you execute your value proposition.
This is how to recruit great people.
Debbie, Bill, and The MEC Team