Start With the Math!
With Real Estate Recruiting Coach Judy LaDeur
Sometimes it's tough to get brokers to see the value in staying focused on their recruiting efforts. I get it. You wear a lot of hats every day and it is work. That's when I usually break out a little math that helps illustrate my point. Here goes: If you were to recruit a two million dollar producer away from your competition – you’d gain $2 million in market share. At the same time you decrease your competitor’s market share by $2,000,000. That’s a $4,000.000 market position increase for you for each agent you recruit!
Now it’s getting exciting right? So if you recruit two agents per month for 12 months, that’s an additional 24 agents, with a $48 million market share increase and $98 million stronger position in your marketplace.
If you were $98 million stronger in your marketplace one year from today would it help your agents do more business? Would it help you with retention? Would it be easier to recruit? YOU BET!
By staying focused, every broker should be able to recruit an average of 24 experienced agents per year or more -- depending on your current size. Ironically, as you become stronger in your marketplace, the strong producers will naturally seek you out because they want to be with the best.
Let’s work the problem out backwards. We’ve always been taught that even though objection handling and closing skills are critical, if the prospect isn’t sold (due to a poor presentation) no close in the world will help. So, closing skills are important, but ONLY if your presentation is effective.
How do we perfect the presentation process? With training and lots of practice. (Remember that old saying – “How do you get to Carnegie Hall? PRACTICE!” Your attitude needs to be “We don’t need them all – we just need the BEST!”)
It’s hard to accomplish your recruiting goals when only one agent per month walks through the door! But when you have lots of prospects, you can be more selective. So, get lots of practice, AND build your confidence through proven systems.
How do you get in front of lots of candidates? By PROSPECTING. It’s not a bad word, we promise! There are hundreds of good prospecting systems and ideas being implemented by brokers all over the globe. The key is to find what works for YOU and YOUR ORGANIZATION.
Do you want to learn more about managing change and maintaining a successful, growing office? Bookmark our blog, and join The Profitable Recruiter today. We have a full spectrum of membership benefits with all the tools, strategies and solutions you need to position yourself to win this year and every year. Our goal is for you to become the “turn-to” broker in your area for every agent.
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