How Not to Get Raided by Your Competition

And Stay on the Winning Side of the Agent Tug of WarBusinessman in tug of war concept

By Real Estate Recruiting Coach Judy LaDeur

I have had several requests to write an article about how to protect yourself against a raid from your competitors. Especially as we are in the heart of recruiting season. Interestingly enough, my research has shown that if you consistently show your agents that they are valued and appreciated on a regular basis, and they know that they, and their needs, are your priority — you probably don’t have much to worry about. Let’s examine why an office becomes vulnerable.

Change is the #1 reason for vulnerability. When you implement change, there are a certain number of agents who will be unhappy with the change, and therefore you could lose a few. In addition, if you lose a good agent, you can easily lose another one in the next 10 days. If you lose 2-3 agents in a few weeks, you could be in trouble.  Why? The grass always looks greener on the other side… (But most agents forget that it is just as tough to mow!) You are most vulnerable if you lose an emotional agent. They usually leave if they are hurt or angry. Unfortunately, they will want their friends to follow them. You must always take proactive steps when an emotional agent leaves. You should have a one-on-one meeting with the agent who is leaving. If you can not correct the problem, or convince them to stay, let them know that they are always welcome if they want to return. Keep it businesslike and professional. Do not get angry with them. You would not believe some of the stories that I hear, such as the managers who threw the agents stuff into the parking lot while demanding that they leave in front of their peers.

Next, have one-on-one meetings with their close friends, and get their feedback as to why the agent left. Ask how you can create a more favorable environment for the agents who are there. If the agent who left insists on calling your other agents, confront the agent who left. Let them know that you were supportive of their decision to leave but you are hurt that they would intentionally try to harm or disrupt your office. Emotional agents usually back off if confronted.

Also, you need to remember that about 70% of all agents are emotional in nature, so they make emotional decisions. For Example: If you do something that they feel hurts them emotionally or betrays their trust, you can lose them. You can also lose them by not giving them the recognition they feel they deserve. The bottom line is this: If they are hurt, they might leave. The good news is that they usually do not leave for money.  They will say it is for more money, but that is rarely the case. Most agents do not worry about the money. They know that if they are happy, the money will be there. Here are a few tips:

With regard to change: It would be impossible to implement a change and have everyone happy with that change. When implementing change, try to involve your agents whenever possible.

Location: If you are changing locations, ask a few of your agents to help you locate a new location, then go out with them to scout out the options.  Let your agents sell the group on the new location.  You could also set up a committee to determine the new colors for the office and ideas for office design.

Compensation: If you are changing compensation, or implementing a new fee, try to time that change with the implementation of a new service. Such as: We are implementing a transaction fee of (dollar amount) but you will no longer be charged for (service). You can also “grandfather” the existing agents when you are changing the compensation.  Or, you can grandfather all agents whose production is above a certain amount. You could say, “If you are generating GCC of $90,000.00, you will be grandfathered with regard to the new changes.” You can also grandfather agents who have been with the company a long time.  For example, you can say, “If you have been with our firm for 10 years, or your production is (dollar amount), you will not be subject to the new changes.” Keep in mind that emotional agents will leave, not because of the money, but because they are hurt that after so many years, or at their level of production, that you would take money out of their pocket.

Management:  A management change is also risky. Whenever you change managers, you should consider the personality of the manager that is being replaced. If the manager that is being replaced was very friendly, emotional and well liked by the agents, you could be vulnerable if you put a logical manager in that office. Better to use an interim manager, or yourself, while they go through their mourning period over the loss of a manager they liked.  If you can keep the personality the same, that’s the best option.

My research has shown that 70% of agents are emotional in nature. What that means is that they need to feel appreciated, they need to like you, and also believe that you like them.  The competition is always “courting” the good agents. They enjoy the attention, but they like you best. If you suddenly get angry at them for talking to the competitor, you could lose them. When I knew that my agents were going to lunch with the competition, I would always say, “If you are not getting at least one call, letter or invitation each week from my competitors, then you need to look at your production. The best agents are always being courted!” I would then ask them where they were going to lunch. If it was not an expensive place, I would say, “Are you kidding? You are one of my best agents! Call them back and tell them to meet you at (fine restaurant name).  Order something expensive! You’re worth it.”  I knew that if I worried about them going to lunch, or became defensive or angry, I was far more likely to lose them.

Bottom Line: I have discovered over the years that what it takes to get them is what it takes to keep them. They just want to be appreciated and know that you care about them, and their success.

Start today by sending three notes a week to your agents. Think of something nice to say about them and let them know who much you appreciate them.  If you always practice retention, the competition will have a tough time raiding your office.

Continue to learn how to be the master recruiting skills and be the broker to join in your market.  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.  

Join today and take advantage of our special offer of 50% off with the promo code 50OFF any 6 month or annual membership.  That’s 50% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

The Disrupters: How Will They Change the Face of Real Estate?

The word we keep hearing in the marketplace is the “disrupters”.  What are they, who are they, and are they here to stay? My prediction is yes. Disrupters by their definition are an event or an organization that disrupts the flow of business as it has always been done.  They shake up the marketplace, and in some cases, change entire industries. A few disrupters that we have all seen in recent years are Uber, Airbnb, and YouTube.  They broke the rules, gained momentum, got sued, won, and almost overnight three major industries were forever changed.

Now we are seeing even more disrupters in the real estate industry. Players who are not playing by the “rules” that we have established.  Mega-startups are presenting our best agents with huge checks which is not playing by the rules.  Companies are mad, and some are fighting back. But we have seen that in the past, so it’s not entirely new. They are offering virtual platforms, but that’s not new. Discount brokerages are popping up, but that’s not new either. So what’s causing all the commotion? I think it’s a lot of things all happening at the same time, but the real disrupters to our industry are technology and dollars — millions in private funding for the new start-ups.

Technology is being funded and fueled by hundreds of millions of dollars this year, and that is something that we have NOT seen in the past. That is the true disrupter. Why? Because we can’t stop technology from changing the face of our industry or changing the way that business will be done as we move forward. This is a change that is causing many Brokers to reinvent themselves and how they will do business in the future, while others will fight, kick, scream and refuse to budge from their position, for now.  What is different about this change is that the consumer is being educated about the new tools, the new technology, the new apps, the new transparency and the new way to buy and sell homes. This is impacting our industry at a grass roots level, which is the consumer.

Yes, there are many disrupters hitting many of you at the same time. For now, the major markets are the targets, and those Brokers are feeling it. It’s not just incentives for agents, but it’s incentives for consumers. New toys that the consumer can use to buy and sell, and that’s why I think Brokers and agents need to pay attention and up their game.

I receive calls weekly from Brokers and clients who are nervous and looking for direction. Many of them are letting the fear of change create chaos in the companies. Change is a given — how you respond to it will make all the difference!

What’s the solution? Whether you are a Broker or an agent, there are three ways to keep those disrupters from disrupting your business.

#1: Build the relationships.  We are an emotion-based industry, filled with emotional agents, emotional buyers, and emotional sellers. Most people want to have that REALTOR that they trust at their side, and most agents want that Broker that they can see and talk to. As a Broker, what are you doing to build and maintain the relationships with your agents, your greatest asset? Most of them just want to know that they are appreciated and cared for. It’s also time to train your agents to build that trust and relationship with their clients and customers.  Remind them to stay positioned with their weekly emails, which are a great tool to keep positioned for referrals and repeat business.

#2: Set yourself, your agents and your company apart with specialization.  Be the expert in your geographic area, or your area of expertise or a niche. Those who set themselves apart have always survived the ups and downs of real estate and typically are the Brokers and agents at the top.

#3: Learn how to compete on value. People will always pay more for a product if you can show and prove value. I see this as the number one area that Brokers and agents should give special attention to. What is the value for each of your tools and services and can you PROVE the value?

The combination of relationship, specialization, and proving value is the solution. I think much of the fear right now from Brokers is due to the fact that this is feels overwhelming. With so many changes — it can feel difficult to keep up.

Farmers insurance has a great commercial with J.K. Simmons who says, “We know a thing or two because we’ve seen a thing or two.”   I’ve seen all the disruptors of our industry for the past 40 years. I know a thing of two because I’ve seen a thing or two and survived it. We’ll get through these changes together!

If you are battling the Disruptors in your market, or just want help recruiting the best agents, based ON VALUE, let us help you navigate through uncertain times and come out on top!

Profitable Recruiter Members, log in here and watch last month’s webinar on demand all about the DISRUPTERS in our industry.

Continue to learn how to be the master recruiting skills and be the broker to join in your market.  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.  

Join today and take advantage of our special offer of 45% off with the promo code 45OFF any 6 month or annual membership.  That’s 45% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

 

Disruptions in the Marketplace:  What it Means for Brokers

By Judy LaDeur

The buzzword for the last 18 months? DISRUPTER.

A disrupter is anything that disrupts the way that we do business. Your ability to remain profitable is determined by how you and your agents respond to disrupters. There will ALWAYS be disrupters and disrupters will always affect our industry and retention.

So much change has happened. New companies jockeying to take over the market, and a few who left the market or merged. There have been billions of dollars in investor backing for startups 18 months ago, but not so much today. Now we are seeing leadership shakeups, mergers, alliances, technology – and lawsuits. And honestly – we won’t even know the full extent of disruption for probably two years!

So, what do agents want and need during this time of change?

Solutions. Calm. Systems. Training. Tools. Answers. Now is the time to improve, re-engage, and re-examine what you by way of offerings and determine where you can make things even better.

If you can be agent-centric and provide the support that they need to be consumer-centric – you’ll have a winning combination.

On our recent webinar, I shared the stats and numbers you need to compete in this changing and sometimes challenging market.

Profitable Recruiter Members, login here and head to Webinars on Demand to watch the full hour video.

The bottom line?

  1. Know your numbers. Understand where you are right now in terms of agents, growth, retention, and market share.
  2. Know your competitors. Who is growing in your market? Who is adding services and tools? Who has the kind of training agents are lining up for?
  3. Know your value. What are the things that you do or offer that are exceptional? How can you not only build on that value, but improve on it?

We’ve put together this worksheet to help you evaluate where you are and where you can create the shifts you need to be a 5-star office that agents can’t wait to join! Profitable Recruiter Members, you’ll find the pdf version of this in your Resource section, along with stats that I shared on the webinar.

Want to learn how to master these skills and build an extraordinary team?  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.  

Join today and take advantage of our special offer of 40% off with the promo code 40OFF any pro membership.  That’s 40% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

 

 

#1 Question Brokers Ask

What Kind of Marketing Do I Use?

By Judy LaDeur

The #1 question that Brokers ask is what type of marketing is most effective to market themselves, their tools, and their firm.  There are actually two types of marketing and both are essential to long-term success. The two types of marketing are educational and positioning.

Educational marketing is the type of marketing that educates the agents about who you are, what you offer, why they should consider your firm when they are moving.  This type of marketing is very important. The goal is to create curiosity and desire to know more about your company and the opportunities that you offer. You might talk about your training and the results. Anyone who wants to increase their business would be curious or desire to know more, which is how you would then secure interviews. Or you could send out a sample of your marketing pieces, showing agents the quality of your marketing materials as well as the results of some of your agents who are consistent with their marketing. The job an effective “educational” campaign is that the candidate should be 50% sold on your firm when they meet with you, as a result of this type of marketing and education.

What if the potential recruit is perfectly happy and has no desire to move? Are they going to read what you send out? Maybe not. So, how do you get this person’s attention? That’s where the other type of marketing comes in, which is called positioning.

This is marketing that is designed to keep you positioned with the agents that you want to recruit in the future. It needs to be non-threatening. In fact, you should not ask them to meet with you or try to recruit them in your positioning pieces at all. They are simply designed to build the relationship and maintain “top-of-mind” awareness at all times. They are motivational or inspirational in nature. Agents look forward to hearing from you when you send “feel good” marketing pieces, which is why we created The Profitable Recruiter weekly eNewsletters. They are messages that everyone can connect with or relate to. PLUS, when your recruits, as well as your agents, send those marketing pieces to THEIR clients, friends, and family, YOU are helping them stay positioned with their database for additional business. It does not get better than that!

As you roll out your marketing campaign, include both educational and positioning pieces and apply the Rule of Seven, which is an old marketing adage. It says that a prospect needs to see or hear your marketing message, it will take at least seven times before they take action. Now the number seven isn’t cast in stone, but it’s a good rule of thumb!

Recruiting Season starts soon. Are you ready?

Want to learn how to master these skills and build an extraordinary team?  Bookmark our blogand 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.  

Join today and take advantage of our special offer of 45% off with the promo code 45OFF any pro membership.  That’s 45% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! 

 

 

 

Look Behind You…

Your Best Recruits Could Be Your PAST Agentspast agents future success

By Real Estate Recruiting Coach Judy LaDeur

What an exciting time this is in the world of recruiting. Brokers and agents all across America are finally getting face to face with all those agents who have put them off during the spring market. This fall is predicted to be a great season for recruiting, and it’s a great time to call those agents who left your company over the past 10 years.

We had some crazy market conditions which created panic, chaos, and mayhem, but time heals all wounds. For some of those agents who thought the “grass was greener” elsewhere?  They found out that it is just as hard to mow somewhere else.  That leaves an opportunity for you to open the door again and invite them to see what they’ve missed in their time away.

Which of your good agents did you lose over the past 10 years? Do you want them back? It’s easy. Pick up the phone and call them.  But first, give some thought to the qualities that the agent has, or a funny situation that occurred when they worked for you. Which sincere compliment can you give that agent? Why did they go to that firm? Are they missing out on brand awareness, resources, tools, training, technology or broker support? Maybe you’ve set up a new training system, mentoring program, or added marketing tools?  Is your agent production through the roof?  Are they making more money than the average agent in your market?   We are in the midst of a strong and emerging market.  These are excellent times to build your office and increase your market share.  Ensure that you are a part of the celebration by working today to change your future in a positive way!

Reach out and make the call and let them know that it might just be the perfect time for them to “come home” — sometimes the PAST can be a great part of a new FUTURE.

Ready to dial up your recruiting, and position yourself to attract the agents you want sooner rather than later, join top brokers from around the nation who are members of www.TheProfitableRecruiter.com. You’ll get all the tools you need each month to position yourself as the broker to join when agents are ready to make a move. Fine tuning your skills this summer? All pro members get access to over SEVEN hours of training via downloadable links including interview skills, scripts, objection handlers, and more. PLUS, you’ll have access to entire libraries of recruiting letters and notes, emails, social media content, training webinars for recruiting and retention, and opportunities to network with the best of the best.

Join today and take advantage of our special summer offer of  45% off with the promo code 45OFF any pro membership.  That’s 45% off everything you need to be in the right place at the right time when the agents you want are ready to make a move!

Summer Recruiting and Retention Strategies

BEFORE you head into summer fun mode, make sure you are putting these strategies, ideas, and systems in place to stay positioned all summer to recruit when the fall season kicks into high gear, and keep OTHER brokers from recruiting your agents away!

Watch now…

Want to learn how to increase your market share and build an extraordinary team?  Bookmark our blogand 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.  

Join today and take advantage of our special offer of 45% off with the promo code 45OFF any pro membership.  That’s 45% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

The Opportunities in Change

The Cyclical World of Real Estate Sales

By Judy LaDeur

The world of real estate is one of cycles. And certainly we are in a stage of change right now in markets all over the globe. Change can be a little intimidating for some agents, but with the right mindset, tools, and training — it presents opportunities at every turn. How you deliver the possibilities and help agents navigate change is powerful.  Perception is reality. As the Broker, you are the captain of the ship. The person in charge of the information that is distributed, as well as how it is perceived. You are also responsible for the routing of the journey. As the captain of the ship, if you saw that there was a potential storm on the horizon, would you alter your course? Would you start to make plans and prepare? Of course, you would. A real estate office is no different. Regardless of what happens in the market, there are things on the horizon that you should be planning for today.

As we make our way through the last of spring and hit the summer months…

Things that you know will happen such as:

  • Agents will have lots of closings in the next 30 days and they’ll be planning their summer holidays, meaning they might not work as hard the next few months. How will that affect your company revenue in September and October?
  • Most agents start September with an empty pipeline of business, which makes it easier for them to change offices. That makes you vulnerable as a Broker but also creates opportunities as a Recruiter. What are you doing today to prevent your agents from leaving, and what are you doing to position yourself as the Broker agents think of when making a move at the end of summer?

When you look forward, you can be better prepared for whatever the market does. Here are a few tips to help navigate through any storms on the horizon.

  1. Schedule training for your agents, to begin September 1, designed to re-launch their business for a strong finish to 2019.
  2. Host some fun events, or contests, in the month of July to keep your agents focused on business, even in the summer months!
  3. Create marketing pieces for your agents to use to position themselves in front of their clients for those fall listings.
  4. Remind your agents that there is no better time to stay consistent with their Monday morning messages to their clients than the summer. Everyone is talking to and visiting friends and family. Stay top of mind for additional business opportunities.
  5. Don’t forget to send your Monday Morning Motivation Messages to your recruits each week. Once we head into summer months, it is especially important for you, as the Broker, to stay positioned with potential recruits. September is one of the strongest recruiting times of the year.

And don’t forget, there are always changes and cycles in this business. You can change the size of the wave, but you can learn to surf! 

Want to learn how to increase your market share and build an extraordinary team?  Bookmark our blogand 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.  

Join today and take advantage of our special offer of 45% off with the promo code 45OFF any pro membership.  That’s 45% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

 

Proving Value in Today’s World of Disrupters

by Real Estate Coach Judy LaDeur

Today, more than ever, Brokers and Agents need to prove the value of their services. For Brokers, it’s about having the tools and technology to recruit and retain the best agents. For agents, it’s about having the tools and technology that the consumer wants. Both are the responsibility of the Broker, and Brokers who fail to respond to the needs of the agents, as well as the consumer, will find it increasingly difficult to attract or retain the best agents.

One of my favorite sayings is: In the absence of value, money becomes the substitute. There has never been a time when that is truer than it is today.  For clarification, I am not saying that all Brokers who offer a low fee structure lack value.  They could definitely have agent tools and support.  However, what we have seen is that a Broker who lacks tools, support, and services will typically have a compensation schedule with a very high split or low fees.

The majority of companies out there have a very competitive compensation and fee structure, based on the services that they provide. The challenge today is: How do you communicate the value of what you offer in services and tools in a way where money is not the deciding factor? It’s a fact that the Brokerages with the most services and support will cost more because it takes money and support staff to deliver those tools and systems.  If it were just about money, every agent would be with the company in town who would pay them the most or charge them the least. Ask any Broker who has that type of set up and they will tell you, much to their surprise, that the money does not have much of an impact.  In fact, one of my coaching clients has an office in their market that offers 100% commissions to the agents and does not charge them anything!  Yes, that’s a little crazy but there are other reasons for wanting the best agents on your team. That Broker is not recruiting agents from my client. Why?  Because the agents see the value in what is offered at their current office.  In today’s agent world, the value of what you offer is equally important for recruiting as it is in retention, but let’s talk about recruiting.

Once you have identified what the agent wants, the second step is to present the solutions that need and want. Here is where Brokers need to spend some time. Everyone has all the basic stuff that agents want and need.  What do you have that others don’t and most importantly, what are the results that your agents are experiencing as a result of that support? For example, everyone has training, but perhaps yours is more personalized. Maybe you have coaches who work with your agents.  What are the results that agents have with your style of training? Everyone has marketing, but perhaps you have a marketing director, or an automatic drip marketing campaign. If so, what are the results of the agents who consistently market with your system? Value is created when you can offer proof, in the way of results, when you are presenting those solutions. Earlier this year, we created a set of templates for each of you to use in your presentation. They are in your toolbox on the Profitable Recruiter Site. They are easily customized, but the best part is that each has a place for an agent testimonial about that tool or service. If you have not downloaded these tools, please do so today. People remember more of what they see than what they hear PLUS visuals have a greater impact. The best agents recognize value and are willing to pay for it. The same is true for cars or kitchen cabinets. There is a buyer for everything, and there is an agent for every company. Who are the best agents for your company? Those who want and see the value of what you offer.

Need more help? Sign up today for a very exclusive retreat where we work one on one with Brokers to develop their interview skills. This is a limited space event and only 7 spaces remain. If you are not hiring the agents that you want, don’t miss this event!  Oct. 10th – 12th Herrington Inn, Geneva IL. Register today by calling 630-402-0898 or click here for your enrollment form.

Profitable Recruiter Members, log in here and visit webinars on demand to watch our recent webinar all about the DISRUPTORS in our industry.

Continue to learn how to be the master recruiting skills and be the broker to join in your market.  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.  

Join today and take advantage of our special offer of 50% off with the promo code 50OFF any 6 month or annual membership.  That’s 50% off everything you need to be in the right place at the right time when the agents you want are ready to make a move – including SEVEN HOURS of recruiting audio training!  What are you waiting for? When you join – you and up to 10 managers can access your account! Try it for a month and see what it can do for you.

 

 

 

 

 

 

 

 

 

 

 

Creating Your Hit List

Overcoming One of the Biggest Recruiting Hurdles Brokers Facerecruiting list

Hands down, one of the biggest obstacles brokers have to kick off their recruiting efforts is building the list.  It’s a little funny because most of these same brokers would be first in line to teach their AGENTS the importance of building THEIR list – their farming/prospecting pipeline.  In a time where competition is high, and recruiting isn’t a ‘should do’ but a ‘MUST do’ – it’s time for all brokers to ‘walk the same walk’ that they encourage their agents to walk.  In other words – build your list.

Here are three great places to start:

  1. Competitors:  List ten companies in your market that are at an equal or just below market share level comparatively to your office and identify the 5-10 agents you would most like to recruit from each and put them into your database.  Jot down any facts you know of these agents, the more information you have on the front end – the easier it is to identify their hot buttons during your marketing and eventually, in your interview.
  2. Your Agents:  Some brokers find this a little tricky, but here’s a great approach for making that conversation easier. Here’s a sample dialogue for you:  “Hey Bill, I’d love for you to do me a favor.  Take out two of your business cards.  Now flip the first one over and write co-broke on the top for me.  Please share the name of an agent who you really had a great co-broke experience with in the last 90 days.   Awesome – now, flip the other card over and write One Desk on the top.  Now if you don’t mind sharing  the name of the person who if we ONLY had room for ONE AGENT in our market who you’d think would be a great fit for our office and you’d be proud to be associated with – who would that be?”  Then you can quickly discern who the top agent fits would be by comparing all the cards from your agents. Follow up with these agents is a very ‘warm’ recruiting call.  “Hi (name) – I asked my agents recently to let me know if we only had ONE desk, who their top choice in the market would be to fill it.  Your name came up 7 times! I’m very impressed.  I’d love to make a little time for us to get to know each other better and discover how we might be able to make that happen!”  You won’t get all of them right away – but put those in your database as well – with an identifier as “co-broke” or “one desk” and stay in touch!
  3. Your local board:  The agents most likely to make a move fall into the 1-7 year category.  We’ve shared strategies and dialogues before for recruiting those 12-24 month agents that usually a great prospect.  Take a look at the top 200 agents in your market and find some common denominators that would make them a good fit for your company.  A good rule of thumb is for every 100 agents on your prospecting list…10 should be top producers, 20-30 new agents, and everyone else should fall into that mid-range producer level.  The last group will have the most turnover and highest potential for recruiting.  Put them all in your database with identifiers for the level they are at and their time in business – as well as any other information you can find.

Now, start marketing!  Connect with them all via your weekly eNewsletter.  Next segment your top hit list (A group) and send lumpy letters to these top 25 or so per month.  Stay in touch, follow up, and be present in the market place.  Recruiting is all about POSITIONING yourself to be the broker agents WANT to call when they are ready to make a move!

Is recruiting a challenge for you?  We can help.  Join The Profitable Recruiter and gain access to 7+ hours of audio training via downloadable links, powerful recruiting letters and notes, emails, social media tips, over 30 webinars for recruiting and retention, and opportunities to network with the best of the best. Take advantage of our special offer and save 50% on YOUR New Pro Membership with Promo Code: 50OFF.

Not sure if this is the right thing for your company?  Watch this video on demand to learn why brokers across the country are making it their turn to way to stay positioned for recruiting success in today’s market — and putting the fun back into their recruiting.  (Which is way better than dread – right?) We’re taking the guesswork out of recruiting for brokers — and they are loving it.  We can do the same for you! Questions?  Email us today.  

Recruiting Season Skill Building

Fine Tune Those Interview Skills

By Real Estate Recruiting Coach Judy LaDeur

If you’re consistently staying  in touch with your recruiting process, now is the time to turn up the heat on your recruiting skills by practicing.  While it might not feel natural at first – I challenge you to stick as close to the interview process as possible.

Here is an overview of the interview process:

The set up: This is the time to tell them the goals and agenda for the meeting. Set up the interview by sharing your goals and agenda.  Let them know that your job is to give them the information that they need that day to make the best decision for their real estate career, and to better have a feel of whether your company is the right choice for them. You should know if the agent is an emotional decision maker or a logical decision maker within the first 5-10 minutes.  You need to mirror your candidate for optimal results. Maintain a businesslike manner for logical agents and a friendly, warm manner for emotional agents.

The questions: The questions are the foundation of your interview.  If a broker/recruiter cannot master this component, their presentation will be weak, or even worse, they will find themselves “buying agents through making deals” if they cannot hire on value.  Surface questions will not give you what you want to know. They just skim the surface. You must really dig deep and find out what is happening in their professional life, what they have now, how do they feel about what they have, and what do they want. Why, When and Why are how most of your questions should start. You can also say, “Tell me more about that” or “when you say (comment), what do you mean?”

The goal of asking questions for the new or struggling agent:

Do you want them? Will they make it? What are their past accomplishments? Sales experience? What is their behavior style?  What have they been doing to build their career up until now?  Number of people in their database? Number of calls they make daily? Farming? FSBO? Expireds?  What are they willing to do to have a successful career? Number of hours they plan to work to achieve goals?

The goal of asking questions for the experienced agent interview:

What do they like where they are? What do they dislike? What is the point of difference between your company and their company? What are their long term goals? Can they achieve them at their current company?  What are their expectations of you as their broker? What are they doing to generate business now? What tools would best support them to take their career to the next level?

At the end of the questions, you should know which systems you will present and what it’s going to take to hire them. If you don’t know these things, then you either need to ask more questions or better questions.

The prospect that can be most challenging at this stage is the driver. If you are interviewing the driver, keep the questions moving fast, and be very direct. Otherwise, they will start asking you questions and you will lose control of the interview.  If you lose control of the interview in the questioning process with a driver, it’s because it’s moving too slow or they are frustrated with the interview and you are not staying on task.  This can be a very tough position for any manager or recruiter, but when you find yourself in that position, first realize how you got there and next, regain control as fast as possible. You can listen to the CD’s if you need additional support with regard to asking questions.

Please remember that the purpose of asking questions is to identify the right systems to present to the agent.  They usually only need about 5 systems to meet their needs.

The Presentation:

The area that I would like for you each of you to really practice and develop is the 3-step presentation process and the ROI or value close.  Failing to present each system in a way that shows value, is the #1 reason that the agent will not join.  With regard to presentation skills, please remember that you don’t need to present everything about your company, but you should have visuals and info on everything that is unique about your company and be ready for each interview.  What sets you apart and gives you a point of difference?  Not only for experienced agents, but for new as well.  It can be on a laptop, folders, whatever, as long as it is easy for you to use and it is going to demonstrate what makes your office unique and the results that can occur when they join your team.

This is your 3-step presentation process.

  • Recap what they said in the questioning process.
  • Present the tool or system using a visual.
  • Present the results using results from agents at your office or survey results from an organization such as NAR.

Each tool gets presented the same way with the three-step process. Then after the presentation, please go back and ask them to give you their opinion as to how many more transactions they can have with each tool. Please remember that they need you to give them results, in order for them to calculate value.

You can then close on the value of joining, which means that you do not have to worry about fees.  When you follow the process above, you will see that they can give you the value as perceived and believed by them. It will definitely make recruiting easier.

The RECAP = your ROI

The ROI = your Value Proposition

If you are not using the 3-step process above, and sharing results with your recruit, you will not be able to value close them.  After presenting each of your systems, you will recap, which is when you build value.  

Dialog to start the recap:  

“Let’s review what we have discovered.  There were 5 different areas of your real estate career that YOU felt could use some improvement. You said that you definitely need:

  • More leads
  • More marketing support
  • Personalized coaching and broker support
  • Better tools to compete for listings
  • More market presence or a strong name in the community.

Is there anything that I missed?  Let’s look at each tool/ system and determine what the value is to your career.

With regard to Leads: You said… As you recall, our agents receive an average of (number of leads) per year, with most converting 25% of those leads within 6 months. If we gave you the same number of leads each year, how many could you convert?

REPEAT THIS PROCESS FOR EACH TOOL OR SYSTEM WHICH WAS DISCUSSED. 

Total all the opportunities and use this dialog:

“If we total up all the opportunities that you believe you could have with our office, the number is (number) additional sales and or listings sold. If we multiply that number by the average commission received, which is $(dollar amount), it looks like you could have an additional $(dollar amount) in income with our company. How does that sound?

More importantly, these are opportunities that do not exist at your current company, so currently, you do not have the opportunity to earn this money at your current firm. You will need to join our team to have these opportunities.  When you came in today, I told you that my goal was to give you the information that you needed to make the best decision for your real estate career TODAY. Based on what you are looking at, does it look like a good time to join (your company)?  I agree, so let’s take a look at the various compensation plans and determine which one is best for you!

This is called: Closing on VALUE.  When you get their commitment, before talking about compensation plans, it’s a lot easier to hire them.

THE CLOSE: You must ask them to join. I like the handshake close. Those who have tried it have found it works great. There are a few people who are shy about trying it. This summer is a great time to master the official Judy LaDeur Hand Shake close.

Stalls and Objections: If you need help handling stalls and objections, please refer to the audio downloads in your Profitable Recruiter Membership platform.. I have all the solutions recorded.  Here’s what others have found: When you follow the interview process, as described above, you will have fewer stalls and objections.  Have a great recruiting season!

Watch our recent webinar: Getting UNSTUCK: Moving Your Recruiting Forward with a Plan 

Want to learn more about hiring the best agents for your team, and keeping your team happy and productive?  Join The Profitable Recruiter and gain access to 7 hours of training via downloadable links including interview skills, scripts, objection handlers, and more. PLUS, you’ll have access to entire libraries of recruiting letters and notes, emails, social media content, training webinars for recruiting and retention, and opportunities to network with the best of the best. Join today and take advantage of our special 45% off with the promo code 45OFF any pro membership.  

Not sure if this is the right thing for your company?  Watch this video on demand to learn why brokers of every company size are making it their turn to way to stay positioned for recruiting success in today’s market — and putting the fun back into their recruiting.  We’re taking the guesswork out of recruiting for brokers — and they are loving it.  We can do the same for you! Questions?  Email us today.