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As the real estate industry continues to boom, more and more agents are flooding the marketplace. Unfortunately, this has made it more challenging than ever for brokers to identify and attract those with the most talent.
It doesn’t matter if you’re in the business of selling fast food burgers or luxury real estate, recruiting is one of the most common challenges faced by business owners, managers and entrepreneurs.
As a broker, your success is highly dependent on the agents you have working for you. The question is: Are you consistently recruiting the right agents to work for you?
Yet recruiting the right agents remains a problem, and few brokers have a system they’re confident in. Without a solid recruitment strategy, your brokerage risks becoming obsolete — you need a consistent infusion of qualified talent.
4 practical strategies
“There is no single magic bullet to solving the recruiting problem, but a proven process that incorporates multiple things is required,” brokerage growth expert Jim Weichert explains.
As you seek to revamp or scale up your agent recruitment strategy, keep the following tips and methods in mind:
1. Advertise on Facebook
Facebook advertising is an excellent way to attract agent leads and cast a wide, yet very specific net. If you don’t have any experience with Facebook ads, now’s a good time to educate yourself on the basics.
In very broad terms, Facebook ad campaigns are broken down into three tiers: campaigns, ad sets and ads. The campaign level is the broadest — representing your overall marketing objectives.
Assuming you’re trying to direct people to a landing page on your website, the primary goal here will be website traffic.
“The ad set level is where you set your desired targeting, ad placement, and budget,” advertising expert Nathan Dadosky explains in Realtor Magazine. “In the ‘locations’ section, you’ll want to include a 30-mile radius around one or several of your office addresses.”
Finally, the ads portion refers to the individual ads that you’ll be serving Facebook users. Video is particularly powerful and has been shown to appeal to a wide array of users.
A short 30-60-second video that explains who you are, the type of agents you’re seeking and a simple “next step” should work well.
2. Utilize customer relationship management (CRM) solutions
If you’re still working with paper lead sheets and archaic spreadsheets, you’re missing a chance to move forward with the times. In 2019, we’re swimming in data.
You should be using a CRM platform that’s intuitive, intelligent and scalable. The key is to look for a CRM that’s specifically designed for real estate brokers to be used as a recruiting, onboarding and agent retention tool, rather than a generic sales-focused CRM that’s built with no specific audience in mind.
It’s also wise to select a CRM that has a landing page feature built into it, which allows you to channel Facebook ad traffic for optimal lead capture. Brokerkit is one of the best, in this regard. (It’s always a good idea to have processes and tools that are compatible with one another. It makes the entire process that much simpler.)
3. Create a unique benefits packages
With so many brokerages on the market, it’s not enough for you to use a generic sales pitch. If you want talented agents who have a history of high production, you must make an appealing offer.
While brokers don’t typically offer benefits packages in the traditional sense of insurance, 401(k)s and vacation time, there are plenty of opportunities to offer perks. (And, by the way, the National Association of Realtors provides a list of benefits partners you can use, if interested.)
Everything about your brokerage, from the office space and employee culture to your management style and support, matters. Figure out what your brokerage is about and then carefully articulate this to prospective agents.
4. Generate word of mouth
Brokers often find that word of mouth is the best way to attract talented agents. Ironically enough, positive word of mouth is generally tied back to the company culture you cultivate.
If you treat your agents well, they’ll be quick to recommend your brokerage to other agents. Show your prospective agents you care by investing in a solid mentoring program where you match up older, experienced agents with younger, inexperienced agents.
Not only does this help your employees feel cared for, but it will also maximize your talent and boost output.
Success made simple
Successful recruiting is all about developing a strategy, setting clear goals, identifying the appropriate targets, and influencing them to join your brokerage. Then, on the back end, you must find a way to keep your agents happy and retain top talent. In doing so, you’ll set your business up for long-term success.
Anna Johansson is a freelance writer, researcher and business consultant specializing in entrepreneurship, technology and social media trends. Follow her on Twitter and LinkedIn.