5 Ways to Recruit & Retain Top Agents Part 2 of 3
Last week we shared the recap of 5 Ways to Recruit & Retain Top Agents Part 1 of 3. In part 2 of the series, we will continue with the rest of the 5 ways to recruit and retain top agents.
This time we bring you Nick Bailey, formerly a Vice President with RE/MAX. Nick has been licensed in real estate nearly 20 years and has been involved with recruiting for about 12 years. He is very passionate about real etate recruiting and very passionate in his feedback for brokerages looking to recruit agents.
5 Ways to Recruit & Retain Top Agents Part 2 of 3
3. Simplify for your agents' day
4. Educational opportunities
5. ROI: Give them an offer they can't refuse
Simplify your agents' day
Make sure your agents' days don't get too cluttered with agent systems:
- Website
- Lead tracking
- Customer relationship management database
- Marketing collateral
Integrate their tools - save time on administrative tasks handling data between systems so the agents can be free to service prospects. Money is made when agents are face to face with the prospects, providing integrated tools can help minimize time spent on tasks that are not making money.
Nick stated that "the #1 thing a broker does, but shouldn't, in the recruiting process is they vomit. They vomit on their prospect." He went on the explain that there are essential tools for an agent to be engaged in today's world. When you are recruiting, you need to understand what the most important tools a potential new agent is looking for in a new brokerage. Then you should limit your presentation to highlighting those tools they are looking for.
What do you think the number one reason an agent joins a brokerage? Some brokers might say "me." Well, that could be the case, but what makes your office unique? How is your brokerage different in terms of service and transactions compared to other brokerages?
Recruiting advantage: Simplified systems allow all agents to focus on their core skills
Provide Your Agents with Education
Top agents want to stay on top. Educational opportunities are a great way to attract them. An educated agent is a productive agent. Nick thinks that education is both a recruiting tool and a retention tool - "You must become their broker, before you are officially their broker." Open your office and educational opportunities to agents outside your office. Let them see the style of your office and what you have to offer that their current brokerage does not.
Recruiting advantage: Educational opportunities will differentiate your brokerage AND your agents will be more productive
Make them an (ROI) offer they can't refuse
Smart agents act as CEOs of their own small business. They are investing in your brokerage with their time, their money, and their efforts. They'll choose the brokerage that offers the highest overall ROI.
70-80% of all agents are emotional in their decision making. They do not want an accounting detail of the ROI when looking to join your office. They want to know how it will make their lives better. In order to translate that joining your brokerage would increase their GCI, you need to communicate it in an emotional way.
Recruiting advantage: Your brokerage is the one that puts together all the pieces of the puzzle
Watch the full recording of part 2
5 Ways to Recruit & Retain Top Agents
Coming up!
Part Three: Implementation
How you can take the 5 ways and put them into play in your real estate business
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