5 STEPS TO RECRUITING *ROCK STAR AGENTS* Brought to you by:

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1 5 STEPS TO RECRUITING *ROCK STAR AGENTS* Brought to you by: &

2 2 There are currently two schools of thought when it comes to recruiting real estate agents to work for you: the old way, and the new way. In the old way of recruiting agents, real estate brokers emphasize recruiting lots of agents because of 90/10 commission splits and agents not selling enough. The brokers in this outdated model must offer a 90/10 split because they don t offer any value to their agents minimal training and orientation, next to no assistance with lead generation, and no real services to help the agents operate smoothly. While this model sometimes solves the profitability problem by increasing the quantity of agents, it doesn t factor the client experience into the equation. When you recruit anyone who walks in the door to make up for the 90/10 split, you aren t thinking about the client experience of the home buyer or seller. This old way of recruiting doesn t allow you to provide the right set of tools and services to your agents so agents can effectively serve your clients which would create referred business, happy agents, and a commission structure in which agents are rewarded for the business they bring in the door (and the brokerage is compensated for company generated business as well). In the NEW model of agent recruiting, you focus on the 5 STAR Experience for your customer. Your customer base is your home buyers and sellers but it s also your agents. You invest in tools and services to make agents perform better, and you charge varying commission splits based on whether the lead is company or agent generated. You offer so much value, and your brokerage is such a great place to work, that you

3 3 can actually be selective about whom you recruit. You can also maintain production expectations so that when people don t meet your standards, they don t get to stay with the brokerage. Recruiting with this new, customer-focused model is a systematic approach that attracts the best agents for your business, while limiting the amount of time spent with the unqualified ones. The agents you want are waiting for the opportunity to work at a better place- you just have to know where they are and how to connect with them. Hiring the right talent to make this new model work for you involves a few key principles establishing the criteria for your new agents, knowing where to find them, a methodical phone interview, an enticing in-person interview, and a method to nurture that relationship and determine the following steps. After reading this report, you ll have a picture of what this new recruiting model is going to look like for you, and a starting point to build your recruiting process to keep your customers and your agents happy. 1. Criteria When Looking For New Agents Before you start recruiting, you have to determine the minimum criteria you want an agent to meet in order to work for you. This comes down to three main criteria: Experience Level, Production Level, and Cultural Fit.

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5 5 2. Places to Find New Agents Now that you know what kind of agent you re looking for where can you find them? Many brokers aren t accustomed to actively recruiting, let alone in the digital age. Here are some examples of where you can go find the right agents to work for you. Facebook Groups Online Agent Forums Real Estate Education and Networking Events Friends of Current Agents Current Transactions Search for Realtor and Broker groups in Facebook. These are excellent forums for recruiting and professional referrals. There are countless online forums filled with agents looking for advice, for referrals, and to join new brokerages and teams. While this is a necessary evil in real estate, the silver lining is that these are networking and recruiting opportunities. Engage with agents at these events to see if there are any you d like to work with. Consider hosting your own networking events for your agents and clients as well. Agents already working for you are an excellent source of recruiting referrals. Do you have an agent that perfectly fits your new recruiting criteria? Ask them if they know anyone looking for a new brokerage. At the end of every transaction, ask your agent if the agent they were working with is someone they would enjoy working with again. If they are, reach out to them for a conversation!

6 6 3. The Phone Interview By conducting a preemptive phone interview, you are saving a lot of time, money, and energy by qualifying the candidate to make sure they re a good fit. Open the call with a mutual commitment to politely close the interview if it appears the agent may not be a good fit (from either perspective) in order to build a trusting relationship from the get-go. Feel out previous experience. Assess expectations. Gauge alignment of cultural values and company vision. Determine production levels Determine interest in brokerage How long have they been in real estate? Why are they looking to change offices? Have they worked in other industries previously? What are they looking for in their new brokerage? What are the deal breakers, and what is their business style do they need to be managed, or are they independent? Enthusiastically share the cultural values that make your brand unique, and a great place to work. How does the agent respond are they in alignment with these values, or are they hesitant? Is this what they re looking for, or is the culture not as important to them? With a bit of research, you can determine an agent s production levels before the call. Do they make enough to keep your business flowing, or will they require extra coaching? Ask them to share their goals. Is the agent interested in working with this brokerage, or are they aloof? Did they know anything about your business going into this interview?

7 7 4. The In-Person Interview Once the phone interview is complete, you ll know on the spot whether or not you want to move forward with this agent, and if you want to try and recruit them. The in-person interview is more of a conversation at this point. Here you ll dive into open ended questions about the agent s goals, present how you can help them meet those goals, and check on some final details to seal the deal. Here are some examples of questions to ask: What are your production goals? What do you need from your brokerage to meet them? What is your client experience philosophy? What are your long-term goals? Do you see this as a job, or a career? Can you see how our agent benefits will help you reach your goals? Once you get a bigger picture of what the agent s goals are, you can start demonstrating how your benefits will help them actualize their goals. If you provide training, demonstrate how that can help increase their conversion rates. If you provide technology services and memberships, explain how that gives you a competitive advantage by giving a more memorable client experience. At the close of the conversation, if they are ready to work for you, map out the next steps that need to be taken to get them in the office.

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9 9 5. Nurturing the Relationship Even if the conversation with the agent goes extremely well, the timing may just not be ideal for them to move brokerages. They may be in a form of mentorship or apprenticeship program, have a lot of active clients with their current brokerage, or just need that little extra push to see the benefits of joining your group of agents. At this point, it s time to nurture the relationship with the agent through ongoing communications that provide value and education, as well as keep you present in their minds. Consider a succinct campaign that not only educates your agent on sales practices and the local market, and subtly expresses the benefits of joining your brokerage. Providing educational components on local market statistics or brief coaching tips demonstrate your authority in the industry, and hints to the agent that there s more where that came from. After every couple communications are sent out, try a call to action to resume the recruiting conversation. The more you give the agent in value, the more likely they are to cooperate when you ask them to give you a call or send you an .

10 10 Would you like to hear more about our ideas and advice for real estate leaders? Feel free to reach out to us! Check out some clips from one of our Broker Mastermind sessions at and also let us know that you'd like to hear more about what we have in store for brokers, managers, and team leaders at