Are You Dating Your
Recruits?
Recruiting real estate
agents has a lot of similarities to dating.
A primary thing for real
estate broker /owners and recruiting sales managers to realize is that real
estate agents enjoy being recruited. Everyone
enjoys being asked to the prom even if they don't accept.
I have seen many real
estate brokers meet a real estate agent for the first time and immediately ask,
“Why don't you come and work for me?"
In my experience this abrupt invitation rarely works unless the real
estate agent knows who you are and has the highest respect for you.
Why should they work for you? They
don’t even know you yet. If you're the quarterback on the high school football
team you might be able to ask someone out on a date that you’ve never met,
simply because they know who you are. In
the same fashion, real estate recruits need to have some connection to you even
if you don't know them. In
recruiting many managers often try to sell all of the "bells and
whistles" that their company has to offer.
However, almost all real estate companies have at least some "bells
and whistles" to sell also. With
that in mind you must consider what your real estate office has that no other
real estate office has. The answer
is you. You are what's different.
Your recruit must know what your value proposition is.
They must know what the value of your relationship is.
The more they see value in a relationship with you as their broker
manager the less they will see value in the "bells and whistles" of
any real estate company. Much like
in real estate sales, creating relationships is very important in real estate
recruiting.
If you are recruiting
high producing real estate agents you'll find this concept useful.
High producers are always difficult to recruit.
One reason is that they are often loyal by nature.
It's a part of many high producers personality type.
They're loyal to their customer base, their families, and their broker.
As long as their relationship with their broker is strong it's very
difficult to turn their head. However,
creating a relationship with a high producer as a friend over a period of time
you may find yourself the first one they turn to if their relationship with
their broker sours. Much like in a
marriage or other committed relationship, if one cheats on the other, the other
may begin looking around for a better relationship.
How do you create these
new relationships with potential real estate recruits?
It's the same thing you would do to make any new friend.
Get to know them and show your interest in their career. You might merely
call them, send them an e-mail or letter complimenting them on their success.
Invite them to have coffee or lunch with you just to discuss current real
estate trends from one professional to another.
While recruiting is like dating, hiring is like marriage.
You might not want to “pop the question” on the first date.
On the other hand, if you are either told or sense that the agent is
ready to make a move, there's no better time to “pop the question” than now.
You should understand
what kind of relationship that real estate agents want from you.
Most real estate sales managers would agree that the typical relationship
between the agent and manager resembles a parent/child relationship.
Often real estate sales managers feel like a babysitter for their agents
from time to time. That can be a
very dangerous attitude as the sales manager may convey that to their sales
force. That type of relationship is
not what real estate agents are interested in.
They're interested in more of a spousal or best friend relationship.
They want leadership but not condescension.
So when you are interviewing a potential real estate recruit, you will
probably hear them ask, "Why should I join your company?
What are you going to do for me?” Quite
often a recruiter will sell their company and /or try to attract the recruit
with a high commission split. Commission
splits aren’t as important to real estate agents as many managers believe.
What they really want to hear as an answer to their question that is more
like a vow. “I will love, honor, and cherish you until death do us part.”
They are more interested in your value proposition as an individual and
how you can mutually grow your businesses together than purely a higher
commission. After all, who wouldn't
prefer 50% of five transactions to 90% of one?
This is why the your relationship and your commitment to helping a real
estate agent to grow their business is more important to them than the name of
your company, all of your services and systems or commission programs.
To
help solve problems like these and to gain more knowledge of growing your real
estate company in recruiting, agent production and retention consider purchasing
Steven’s CD sets and having him personally work with you.
Steven
Morris is a real estate broker, sales management consultant and coach with 30
years of experience and can be reached at 888-326-3949 or SMorris@MorrisWilliams.net
Copyright © 2009 Morris Williams Corporation. All rights reserved