Are you Recruiting, Retaining or…Simply Maintaining?
Recruiting and Retention is the lifeline of your Real Estate company and I certainly don’t have all the answers. My business partner and I continue to ask questions seek answers in furthering growth of a successful Real Estate company as we believe awareness is the key to survival.
We’ve been fortunate to grow a healthy company recruiting over 100 members from a pool of approximately 1500 real estate agents in a 2 year time period. We are by no means the largest independent Real Estate company out there, but pound for pound and compared to other markets, I believe we are strong based on our market size and recruiting and retention rates.
Much like our successful sales business and strategies, tracking and measuring results are a crucial aspect to our company business. It not only allows us to measure our improvements but it allows us to reverse engineer potential future growth and attach to a specific process. We wanted to determine the specific means to which we’ve found success and ensure we can assist others in duplicating this inside of their respective markets.
We polled our current members as to why they selected to work with our organization. Although we have a competitive compensation package, the fee structures or splits were not the dominant reason an agent chose to join our company. We did however determine 3 main reasons that were the leading determining factors as to why agents have made the decision to work with us. Here are our findings…
- Training In An Ever Changing Industry
The potential Realtor is no longer only satisfied in programs to assist them in facilitating paperwork as they can receive that anywhere. They are looking to secure new business and be guided through proven systems and strategies that are relevant to today’s agent or sales person.
Today’s Realtor also needs to know various options in this space in order to determine a Path of Least Resistance when it comes to ”Lead Generation”. What we resist persists and today’s agent must find a suitable and enjoyable method of creating business with several options available to them. A leader that is knowledgeable about how to find business will be far more attractive than one who only understands how to conduct business.
2. Leadership To Last
The Real Estate brokerage model has continued to become complacent with an aging demographic. In order to recruit and retain new agents and assist veteran producers in adapting to today’s internet empowered sales process, the successful Broker will demonstrate leadership utilizing technology that is relevant today. Demonstrations and Training by the Leader are ever so important.
Inside of this training, the delivery is just as important. No longer can a Leader use packaged materials handed down to them from head offices thousands of miles away. Much of the material doesn’t apply to local markets and if the methods to success are not market proven, too often the agents will not embrace them.
3. Results Must Be Demonstrated.
Your agents need to see results and they must attach to a vision and a dream. You cannot simply demonstrate your market share or number of agents, especially if it is known that your per agent production is low. To attract and retain quality agents, you must demonstrate proof of concept with market proven and market tested results.
A good friend and colleague of mine said it well,
“ Results demonstrate proof.
Proof trumps hype.
Proof creates demand.
Demand dictates your value.”
What results will you create today?