Savvy Brokers Know the Difference
By Real Estate Recruiting Coach Judy LaDeur
Every broker or recruiter naturally falls into one category or the other: Farmer or Hunter. They are completely different ways of approaching recruiting. Most brokers, just like most agents, are farmers.
Farming is the art of developing relationships with a specific group of individuals, educating them about why they should want to work with you, and being positioned when the time is right for that person to make a change. A broker or agent who farms assumes, just like a farmer, that if they prepare the soil, plant the seeds, water the crops and take care of the crops until harvest time, that there will be a bountiful crop so the farmer will be able to eat and also feed his family. Farming is a passive form of prospecting.
a) Requires patience/waiting
b) Takes 6-12 months to fill the pipeline
c) Emotional agents need a relationship with you so it works with most agents
d) Education and information is consistently sent out to gain trust
e) The goal is to stay positioned, educate them, to gain their trust so that when the time is right, the agent will join your team, or you harvest your crop
Hunting is the art of full engagement. Going after the target, not waiting for it to come to you! The hunter assumes that is he/she is not actively pursuing the target that they will not eat. Think of the lion. The lion does not sit in the meadow just waiting for his prey to appear, the lion tracks their prey, and pounces on it when the opportunity presents itself. A Hunter also looks for the prey, stalks it and pounces when they are not paying attention. A hunter does not assume that the food will just appear on their table. The hunter believes that if it is not out there hunting all the time, it might starve. The hunter’s actions are assertive or aggressive forms of prospecting.
Here are some facts about hunting:
a) It is a numbers game. Lots of contacts/ fast results
b) Everyday someone is unhappy, the goal is to find that person each day, which means “who is vulnerable?”
c) When agents are unhappy or unproductive, they want solutions and results, more than they need a relationship
d) You have more control over the numbers
e) Instant gratification
Both are important for long term success, however hunting is the key to survival in this market for you and your agents.
Here are some Farming activities:
a) Mailings to educate them about your company and to build the relationship
b) Having coffee to build the relationship
c) Invite them to company events
d) Personal notes
e) Calls, just to say ‘Hi’
f) Social media interaction/ comments
Here are some Hunting activities:
a) Target Struggling agents
b) Target New Agents who are in school or just licensed
c) Target Logical agents from their photos
d) Target agents who fit the company profile from their website/social media.
e) Sending mass mailings/media/ email etc. playing the numbers game
f) Using social media to place ads and target specific groups via Linked In and FB.
g) Placing ads on the internet
h) Career nights
i) Approaching sales people in other professions and suggesting a real estate career.
If you HAD to hire 10 agents in the next 30 days, or shut down your office, where would you look for them and what would you do? That is how the hunter thinks at all times!
The Good news is that most of you planted a crop in the spring and nurtured it until now, so you can harvest your crop and also go hunting…because it is hunting season!
Hunting season is the time of year when agents are most vulnerable. They are vulnerable for a variety of reasons:
- Inventory is low
- When agents are not busy after summer holidays, they start to panic
- They are just going into the last quarter, and many are not happy with their current year’s production
Even farmers should go out and take advantage of the opportunities that hunting season brings to their tables, and they do!
Which method of hunting do you want to focus on?
1. Struggling agents
2. New Agents
3. Logical agents
4. Career night seminars
5. Cold calling
6. Marketing to the masses
Here’s to your successful recruiting season! Remember consistency is key! Good luck!
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