Are the Disruptions in the Market Impacting Retention?

Keeping Your Team Together

By Real Estate Recruiting Coach Judy LaDeur

Today’s best agents are being heavily recruited, and the options that are being presented are enticing: Checks, marketing packages, leads, specialized branding, shiny new tools and even retirement options.  For many Brokers that we are talking to, it’s definitely more stressful than it has been in the past.  New technology and changes in the way that business is being done require that Brokers stay sharp, at the top of their game and in tune with the tools agents need to compete in a world where consumers are more educated and also have more options.

Are Brokers losing their agents to the competition? That depends. Most of our clients are NOT losing agents, or at least no more than normal. It is recruiting season, which means that a certain percentage of agents will change firms, but the question is why are they leaving, and what are they looking for?

Here are some facts with regard to why agents leave firms

  • Weak agents will always look for an easier way to make a living.
  • If the company is not staying current, delivering the tools that agents need, the best agents will leave.
  • Some agents are not prepared for retirement, which might only be a few years away. They are looking for a solution. If your company does not have a solution, you might lose those agents.
  • Agents want to feel appreciated and will leave if they feel they aren’t.
  • For some agents, it’s all about money, so they will leave for a higher split, lower fee, or a check.
  • Some agents are not willing to do what it takes to succeed, so they quit.

If you are losing 10% of your agent base per year, or more, you definitely should take steps to increase retention.

But the question today is, “Will the new startup companies in the market, or the many changes taking place, make it more difficult to retain your agents?” That depends on YOU, the Broker.

Retention is about creating VALUE on two levels. You with the agent and the agent with the consumer. Both are your responsibility.

Ask yourself these questions:

  • Do your agents have what they need to compete in today’s real estate market?
  • Are you meeting the needs of the agents and the demands of the consumer?
  • Are your agents educated about their competition, and can they show enough value to overcome objections and secure the listing?
  • Are you engaged and connected to your agents? Do they enjoy working at your firm?
  • Is each of your agents selling at least 6 homes per year?
  • Do your agents have the technology to be fully mobile?

If the answers to those questions are yes, then you are doing great. If not, what can you do to fully support the agents, and meet the demands of the consumer?

A NAR 2018 survey shows that 85% of agents want to be fully mobile when it comes to their real estate career.  They want to manage their transactions from start to finish on their mobile device. They also want what they need to be delivered fast because speed matters today. The consumer expects speed and when the agents don’t, or can’t respond fast enough, it creates stress.

The good news is that it’s still about the relationship for most agents, as well as most consumers. Here are some ideas to maintain that relationship:

  • Create a superior “high touch” experience for the agent and consumer.
  • Use videos to stay in touch with agents and clients. It’s more personal.
  • Add a Consumer Care Specialist or Agent Services Specialist.
  • Use technology to automate processes and increase efficiency, allowing them to sell more with less stress.
  • The MAJORITY of Home Sellers and Buyers still want an agent to hold their hand during the transaction.

What’s Your Action Plan?

  • Your Agents Are Your #1 Asset and #1 Clients. How can you honor that relationship?
  • They love food, fun, and recognition!
  • Now is the also the time to teach your agents who want “out” to sell their business and transfer it to one of your agents.

Let today’s changes inspire and motivate you to create new ways of doing business and propel your business to a new level.

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.

 

 

 

 

 Identifying and Communicating Your Value Proposition

By Real Estate Recruiting Coach Judy LaDeur

The most important asset within your company is the people. Attracting the right people means attracting those aligned with your values and vision.  This gives you an opportunity to create a flourishing environment that translates into an improved bottom line.

Putting a strong team in place will require you to answer a few tough questions first. You must be able to share details about your company in “what’s in it for them” terms. Explain how a move would benefit them both personally and professionally. Because let’s face it, switching companies is a very scary decision for most people. Diffuse fears by accurately and effectively sharing the “WHY” that sets you apart from your competition. What does this look like?

You must define:

  • What you do better than your competitors
  • What you are doing that your competitors are not
  • How you can help potential recruits earn more money through your systems and tools
  • How you enhance the working environment of your agents
  • What real results other members of your team have seen since making a move

Once you answer those questions, the next step is spelling out the reasons any agent would want to join your team. In my training, I ask each broker to come up with their 12 most compelling reasons. Unfortunately, twelve reasons can be difficult for a lot of brokers. For that reason, I have created a blueprint that you can follow to begin crafting your own list.

12 Compelling Reasons Recruits Will Say YES to Joining Your Company

# 1:  Strong Leadership: Vision, support with problem solving, and leaders who are acting like leaders. Take it one step further and determine what specific value you and your expertise bring to your team.

#2: Lead Generation: Agents need to prospect, but they want companies that are working to generate leads for them as well. There are lead generation companies out there that are charging agents up to $1000 a month for leads and believe it or not, agents are paying. Why? Because agents want those internet leads, or any leads that the company can provide. What are you willing to provide?

#3: Name Brand Awareness: Companies with a strong presence in the market, locally and nationally, are doing well with their recruiting efforts. Name awareness is tied to market share. The best agents understand that the stronger the name/market share, the easier it is to compete for business.

#4: Education/ training: Agents are looking to fine-tune their skills. Many agents know they need to get back to the basics and most realize the value of staying current in an ever changing real estate industry. The best agents also understand the value of securing specialized training or securing certain designations for areas of specialization. Such areas might include: Luxury market training, working with seniors, working the condo market, working with various ethnic groups which are moving into the country, and working the short sale and foreclosure market.

#5: Positive office attitude and healthy environment in the office: Agents want a positive work environment with competent and positive peers. It is easy for me to see that the offices with the best production and best attitude have brokers with a great attitude. Those same brokers spent the last 5 years getting rid of their dead weight and many are more profitable today than they have been in years!

#6: Mastermind Groups and networking opportunities with other top producers:  Many of the best agents enjoy connecting with the other successful agents. Their needs and approach to the real estate business is different from those just getting started, so why not give them the opportunity to grow and play together? Agents who work hard, play hard and spend time together are more likely to stay together

#7: Marketing support/tools: Marketing is the #1 thing that agents need to stay in touch with their sphere and past customers. What can you do to assist or support their marketing efforts?

#8: Client/ data management tools: Many agents struggle when it comes to managing their data and client info. Do you have an easy-to-use customer relationship management tool that allows them to input their data, send out marketing, and locate client data quickly?

#9: Coaching and accountability: We see many companies implementing very successful coaching programs, with some great results. If the company does not provide coaching, the agents might hire outside the organization. The cost can range from $500 -$1000. What that tells me is this: if they want it and it has value to them, they will pay for it! Your agents need accountability and sometimes a third party is the best way to keep them on track and accountable. Your best option is to coach them yourself or have someone else in house that can effectively coach them. If this isn’t possible, seek out a good coach and work out an agreement with them to coach those agents who want it.

#10: Administrative support: Agents are working harder, but most are not working smarter. What can you do to support them behind the scenes?  What can you take off their plate to give them more balance in their life and work?

#11:  Proven results with proven systems: It’s not enough to have systems and tools. Your need to know what the results are from each of the systems and tools you offer. Use exact results, NAR survey results, national brand results, testimonials from your agents as well as success stories. Bring those results into your interviews.  Everyone says they can help potential recruits, but those who can prove it are winning in today’s market.

#12: Security: The bottom line for any agent making a move is whether or not they will feel secure at their new location. The more answers you can provide on the above list, the better they will feel, and when they feel good…they join!

Take some time to sit down and determine what your best selling points are as an organization.  Ask your agents what they love most about being part of your business family.  Then couple these powerful 12 reasons with your own compelling attributes and get ready to knock it out of the park this fall!

Want to continue to learn how to be the turn-to broker 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 pro 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.

 

Real Estate Recruiting Season Webinar

Thank you to everyone who turned out for our webinar discussing what’s working and what is NOT in the world of real estate recruiting right now. October is the time to take decisive and strategic action to recruit the agents you want for your team — and to help keep your current team members from getting recruited away!

Watch it on demand below…

Put systems in place.  Be persistent and consistent in your efforts. If you don’t have a system in place, we can help! Become a member of The Profitable Recruiter today, and put the power of done-for-you content and tools that make recruiting experienced and new agents easier, less time-consuming, and even fun.

Register today and use the promo code 50OFF to save 50% on any 6-month or annual membership. Got questions?  Email us!  We’d love to help!  

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! 

 

 

 

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.

 

Change Your Thoughts and Change Your Results

Recruiting Mindsets for Success

By Real Estate Recruiting Speaker and Coach Judy LaDeurBusiness team

Recruiting remains the #1 challenge for most brokers and managers. Why? For many it feels overwhelming. What can help? Keep it simple. Recruiting is just a process. It’s about building relationships, and being there when the time is right for an agent to make a move. It does not have to be stressful or even difficult. Here are a few reminders:

  • You can’t make someone move if they are not ready, which means they are not rejecting you.
  • Most agents need to like you and trust you to place their career in your hands.
  • What that means is that you should spend more time building the relationship and less time worrying about how to get them on board.
  • It’s just real estate! Combine the Art of Farming and staying in touch with your clients to build your system and stay positioned. When they are ready to move, it’s just like working with a buyer!

You can’t make anyone move until they are ready, but once they are ready, if they trust you they will work with you. What’s the secret to selling a home to a buyer in 1-2 showings? If you ask the right questions, understand that they are looking for and know where to find their home, it’s easy!

The same applies to recruiting.

Here are some tips that you can follow, as well, which should make it easier to get the agents you want.

The entire interview process needs to stay focused on what they need and what is best for them, not you. A very common phrase that many of the brokers in our coaching program hear is “You were the only broker who took the time to ask questions about what I needed, and what was important to me. That’s why I choose your firm.” Sound too easy? It’s true! When they come into your office, tell them that your goal is to find out what is important to them, and to determine what their needs are so that you can help them make the best decision for their career. Then spend 20-30 minutes just asking questions in a very reflective way, and think carefully about what they are saying, and what they are looking for.  Think of it as solving a problem. Pretend that they are a friend who has come to you for advice, and your goal is to help them make the right decision. If you focus on them, you will be less inclined to try to sell them. You will be amazed at how easy it is to hear what they need, or want. After you have asked your questions, and assessed their situation, you should present only those systems that address their needs, and solve their issues. After presenting the “right systems”, watch their body language, and ask yourself, “Are they sold?” If so, very calmly, and very confidently, smile, sit back in your seat, and say “When you came in today, I said that my goal was to help you make the best decision for your real estate career. Based on everything that we have discussed here; it seems as though you’re right. You’ve gone as far as you can with your current company, so let’s take you to the next level in your career. We have a transition packet that is designed to make your move as smooth as possible.” At that point, you should begin reviewing compensation as well as those details that are necessary to make the move. After you have presented the necessary details, smile and say, “I’d like to invite you to join our team!”.

When you hear stalls and objections, don’t panic, and don’t try to talk them into joining. Just keep asking questions.  Two-year-olds are great closers. Why?  They just keep asking questions, until they hear the answer they want. Here are some great responses to the objections you hear at the end of the interview. “Why?” “Why not?” “Why do you feel that way?” “What makes you say that?” “Why would that keep you from making a move today?” “Really? Hum.”  “How would you propose that we solve that problem?” Here’s a sample of how it works. If you ask them to join, and they say they can’t do it today, just smile and say, “Why Not?” You’ll be amazed at how often they say, “I don’t know”. You would respond with “I don’t know either, so let’s do it!” You have to keep smiling, and keep it fun. If they say they can’t move because they are good friends with the broker, you might say, “Really? Hum…”(smile) and make them justify that statement before going further. After that you might ask, “If someone approached your broker and offered to buy their firm for a lot of money, would they consult you prior to making their decision about selling their company?” You’ll have to practice it a few times to get into the habit of asking verses selling, but you should see great results.

Recruiting is vital to your success and survival as a company. Start with a few small steps, and move forward from there. If you need help building relationships with the agents that you want, the absolute best tool in the industry to stay positioned is The Profitable Recruiter.  We’ve got the strategies, tools and training that make connecting with agents incredibly simple – and amazingly effective.  Our brokers tell us we’ve made recruiting fun again for them.  We tell them THAT’S THE GOAL!

For more great ideas on giving your agents the best resources possible, while attracting awesome new agents, join The Profitable Recruiter.  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.