Do Recruiting Incentives Work?

Yes, But…

By Real Estate Coach Judy LaDeur

The simple answer is “yes”, BUT some incentives work better than others, and it all depends on the behavior pattern of the agent.Handshake after a job recruitment interview

Most brokers use money, or financial incentives to motivate their agents to help them recruit. The problem with that is that most real estate agents are emotional decision makers, who are motivated more by what you do for them than what you offer to them in the way of money.

Let’s look at what agents do on a daily basis. If they like their loan officer, they refer them to everyone. Why? Because they are paid to refer business to them? No. It’s because they want everyone to have a positive experience when they are buying a home. Many real estate companies have their own in house lenders, and ask agents to refer the business to them. Some even have financial incentives. Does an agent use their loan officers just because they can get paid, if they have a loan officer that they feel can do a better job for their clients? No. They also refer attorneys, inspectors, etc. For an emotional agent, when you offer to pay them to secure their support, it does not feel good to them. Some say that they even feel guilty about getting paid. There are real estate organizations who offer incentives to recruit, but when I ask them how well it works, they admit that most agents do not care if you are paying them to recruit.  You might be asking yourself why I said that recruiting incentives work at this point. As you recall, I said yes, but…

Let’s look at what works and for which type of agent. If you have a driver personality, or an analytical/logical personality, that person is motivated by money. They actually prefer money over other types of incentives. This allows them to spend it the way they want. Statistically, 10% of agents are drivers and 5% are analytical, so 15% of agents will be motivated by the money. However 85% are not!

How do you motivate the 85%? What do they want? Recognition! When they are happy in their work environment, and they truly feel that it’s the best place to work, they will invite others to join.  When they give you a referral, they are just looking to be recognized in a personal way that shows you care.  When an agent gives you the name of an agent who might be a good member of your team, send a thank you note to their home that says, “Thanks so much for helping us build our team of associates with agents just like you! I really appreciate it.”  After the agent comes in to the office for an interview, give the referring agent an update. If the agent joins your team, do something special for that agent.  When I say “special for that agent”, I am referring to something that tells them that you know what is important to them and that you care. If the agent is a driver, they probably would like a financial reward, so that’s’ fine. But chances are they are emotional, so think about what they like.  Maybe it’s a day at the spa, or a certificate for dinner at a nice restaurant, or a really nice bottle of wine.  Perhaps you have box seats to a sporting event and you know that agent enjoys sports. Whatever you give them, put it in a card and say “Thanks so much for recommendation of (Agent Name). They are a great addition to the team and I could not have done it without your help!”  There’s no need to announce that you are offering incentives. Make a habit of asking who they would recommend, and follow up. Once you have recruited them, present them with the note and gift. You will be amazed at how quickly they give you another referral. Why? Because they enjoy working with you, and they appreciate the recognition.

Mary Kay Ash, founder of Mary Kay Cosmetics said, “Every single person you meet has a sign around his or her neck that says, ‘Make me feel important.’  If you can do that, you’ll be a success not only in business but in life as well.” She was known for the way she made people feel. What will you do to show your agents how much you appreciate them when they refer an agent to you?

Want to learn more about building your dream team in less time and with less headaches?  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 40% off with the promo code 40OFF.

Webinar On Demand: Recruiting Strategies with Keith Pike

We had so much fun with this month’s guest, award-winning recruiter Keith Pike, that we decided to break our own member-only rules and share this powerful, insightful and just fun interview with our entire newsletter list.  Keith owns RE/MAX Elite in Little Rock, Conway, and Bryant, Arkansas, and RE/MAX Infinity in Overland Park, Kansas and was kind enough to share the strategies and tools he uses to knock it out of the park!

We loved every minute and know you will too!

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!  Make any Profitable Recruiter Pro Membership part of your business plan, and take 35% off with the promo code PLAN35 — PLUS, have the ability to add up to 10 managers or admins to your account at no extra cost!  That’s 35% 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, more than 30 webinars on demand, scripts, letters, social media tools and more!  What are you waiting for? Register today

 

Are YOU Closing Three Times?

How to Get Better at Closing

By Judy LaDeur

When I ask Brokers what they need most, they almost always say that they need to become better closers. When I ask why they think they need to get better at the close, the obvious answer is that if they are better closers, they will sign up more agents.  To an extent, that’s true. Everyone needs to be a good closer to be at the top of their game, but what is a good closer?

A good closer is someone who does the following:


  • They set it up properly. From the time the interview starts, they are closing them to join “if it’s determined that they are a good fit.”
  • They ask the right questions to know what it’s going to take.  If you know what it’s going to take, you will present the right tools and solutions.
  • When you present the right tools and solutions in a way that shows and proves value, the agent wants to join.
  • A good closer also knows HOW to close the agent. Amiable agents need assurances and security. Expressive agents need to “feel good” about the decision. Logical agents need to KNOW that it’s a good solid business decision.
  • And of course, you must ask them to join! Not just 1 time, but several times.

You may have heard about the Northwestern University Study that says that 78% of the time, you must close three times to get the sale, but most do not know what that really means.

Do you just keep asking them to join the same way? No! If you ask someone to join your team at the interview (that’s one), and they say “no, or sounds good BUT…”, just smile and say that’s fine, but if you were going to join today, what would it take? (That’s two).  Listen to what they say, feed it back, (so if I hear what you are saying, if you were going to join today, we would need to…” Then question it.  “Tell me why that is important. Tell me more about that please. Why, what and how questions to get more details from them.

When you have enough info, isolate the objection and offer to solve it. “Is that the only objection? If I could overcome that today, would you be willing to move forward?” (That’s three.) At this point, you need a “yes”. In the absence of a yes, you are dealing with a stall, and you can’t overcome a stall.  Start the process over again and ask, “What else is holding you back?”  However, if the person said, “Yes, if you can overcome that, I would be willing to join…”, then simply overcome the objection and close again.

Remember the saying, Close often, and then close again. Just like you do with buyers and sellers, if you saw the sale take place that day, work hard to put it together!

Remember there are seven and a half audio HOURS of dialogues, strategies, closes, objection handlers, etc. in your Profitable Recruiter System. Top brokers tell me they tap these resources at least twice a month to continuously fine tune their recruiting skills. It’s no secret that’s why their recruiting numbers are so high! Be sure to listen to my signature handshake close (yes, that’s me in the picture above at a recruiting retreat).  It works like a CHARM.

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 35% off with the promo code PLAN35 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.  

 

Twelve Ways to Use Done for You Tools to Recruit & Retain

As a Profitable Recruitertpr tools

By Real Estate Recruiting Coach Judy LaDeur

Creating is hard right?  But crafting a marketing plan from already done for you tools is not only easy, it’s smart marketing – and savvy time management.  This week, let’s look at twelve powerful ways you can use your Profitable Recruiter Membership tools to recruit the agents you want, brand your company in your marketplace as the one to work for – and do business with, and lighten your daily to do list!

  1. Stay positioned the RIGHT way. The number one thing you can do to recruit your dream team and retain the great agents you have is to stay in front of them at least monthly, if not weekly, with valuable information, inspiration, and a reminder that you are there when they need you.  Our most successful members log into their platform just before the first of every month (or have their admin do this for them) and click on Weekly eNewsletters.  They then copy and paste these weekly eNewsletters into their own email platform (we recommend a platform that allows you to track opens, click through rates, etc.) and then schedule them to go out every Monday morning before 7:00 am.  Not only will you get tons of positive feedback, this week alone, we had several brokers tell us that agents are asking if they can add OTHER agent friends to the weekly campaigns.  You’ll be staying top-of-mind, growing your hit list, and put yourself in the position of being the number one broker to call when those agents are ready to make a move.
  2. Work the challenges.  Each week, we share a challenge and action step that you, the broker and recruiter, can take to further your recruiting goals and grow a stronger business.  The brokers that do, are full speed ahead and on track to surpass their goals.
  3. Pro Members Use Lumpy Letters.  Each month you’ll get these new attention grabbing letters which are meant for the top 10-20% of your recruiting prospect list.  Sent monthly, they not only put you front and center on the radar of those top agents, they will help make you the talk of the real estate town with chatter about how creative you are, how you went the extra step, and how they can’t wait to see what you’ll send next.  They make follow up fun and easy – and they’ll make picking up the phone because the agents are CALLING YOU with a thank you, a welcome relief from cold calls! Top brokers simply copy these (or have their admin copy), order the ‘lumpy’ part of the mail (we offer links so you can find these items easily), and have their admin assistants put them in bubble mailers and send out the first week of every month.
  4. Pro Members Use Seasonal Recruiting Letters.  Each month we add 2-3 seasonal and timely recruiting letters that you can copy and paste onto your letterhead, hand sign, and send to the top 100 prospects on your recruiting list.  We also offer retention letters that you can use to do the same and send or hand deliver to your current agents to make sure they feel special.  There is power in receiving something in the mail in today’s electronic world.  Use it to your advantage.  The first or second week of every month simply copy, print, sign, and send.  (Three of those activities you can even delegate – how cool is that?)
  5. Social Media Tips.  Every month we deliver enough content and ideas to keep you visible (without stressing you out or taking up too much time) as well as strategies to brand you and build a strong, positive online presence.  It’s an easy, breezy way of kicking up your social media without having to reinvent any wheels.  You can even use great tools like SproutSocial.com to copy and paste some of these into a platform and schedule your posts.
  6. Webinar Invites.  Every month we host TWO webinars.  One for brokers in which we spotlight top recruiters and coaches with timely topics and strategies on what works – and even what doesn’t (common pitfalls) to keep you on track for your recruiting goals.  Secondly, we host an agent webinar with top agents and coaches who deliver powerful strategies to help your agents (and prospects) rise to the top of their field and stay there.  Our top brokers open the invite tab at the first of the month, register for their own webinar, then copy and paste the agent registration link into one email that goes out to all of their existing agents, and a second email inviting all their prospective recruits (use a platform, bcc options, or email individually for confidentiality) to attend.
  7. Blog.  Bookmark the blog for powerful interviews, scripts, dialogues, broker spotlights, etc.
  8. Learn at your own pace.  Click on the Webinars on Demand tab in your platform to watch a wide spectrum of past webinars at your own pace. There are agent and broker webinars here so you can use some as training opportunities for your sales team.  Preview a topic, pick one each month and invite your agents in to watch on demand and workshop what they’ve learned.  This is a GREAT tool if you have an in house trainer.  (Ask us about how to give them access of their own to this popular section of the membership platform.)
  9. Archives.  We archive several months of tools at a time so you can peruse other lumpy letters, eNewsletters and tools if you want to switch things up a little!
  10. Recruiting Scripts for our Pro Members. We add new scripts and dialogues for even the toughest recruiting and prospecting calls and interviews here each month.  Top members print these out and practice, drill, and rehearse so that they are ready for ANYTHING an agent might through their way!
  11. 6 Month and Annual Members access over SEVEN HOURS of audio training for recruiters.  These audio files run the gamut of what brokers face each day and teach you how to master your trade as a broker, recruiter, and business professional.
  12. Help your agents do the same.  Through April 15th, brokers can register for The Profitable Sales Agent for 25% off the membership fee and share THAT content with their agents so they have the vital tools THEY need totpsa newsletter sample stay top of mind, build a strong referral base and sphere and capture the respect, trust, and BUSINESS of the consumers in your community.  In this platform they will get:
  • Weekly eNewsletters designed to be sent to home buyers and sellers complete with DIY home tips, real estate tips, a motivational message, and calls to action
  • Free collateral material and fair trade items such as staging tips, listing tips and more
  • Access to their OWN webinar training spotlighting top agents and coaches each month
  • Agent challenges and weekly action items to keep them motivated and on track
  • Webinars on Demand so they can learn at their own pace
  • Archived tools so they can peruse past success strategies
  • Social Media Tips and Strategies so they can build a strong online presence themselves and connect with their sphere

Creating is hard. Using the tools that others have built for you that will position you for the success and growth that you want for your business?  Is simple and affordable! If you are a Profitable Recruiter Member – make sure you are taking full advantage of your membership platform by following the twelve tips above.  If you want to register YOUR Company for The Profitable Sales Agent and deliver the tools above to them – click here and use Promo Code 25OFF to save 25% on your membership through April 15th

If you are NOT a member of The Profitable Recruiter but would like to start using these powerful done-for-you content training and tools, then register here and you too can use the promo code 25OFF to save 25% on any pro membership.  To access the Audio downloads, register for either the 6 month or annual memberships.  Got questions?  Email us!  We’d love to help!  Make it a great year! 

Are You Following Up With Co-Broking Agents?

If Not, WHY Not?Follow Up

by Real Estate Recruiting Coach Judy LaDeur

A great way to build relationships with agents is to take advantage of the opportunities to work with those agents who sell your company listings of whose listings you sell. You not only have a 60-day window to work with them on those sales, but you can also use the fact that they sold your listing to invite them to social events, educational events or extend recognition to those agents.

Here are some examples:

  1. Invite them to an event.  When agents think they have earned the right to be at the event, they are more likely to attend, than if they thought they were being recruited. You can send out an invite followed up with a phone call which says: Because you have sold one of our listings this year we would like to invite you to be our guest at…
  2. Thank them.  You should always call those that your agents are working with and thank them for selling your listings, or the great way in which they always handle the transaction. After closing, send a note to the homes of the ones you want to interview, or if you know the spouse, send it to the spouse.
  3. Ask around.  Ask your agents about who they are working with and what the experience has been.  Those are great conversations to have with your current agents,and shows you care about how their transactions are going, and your agents are your best source of referrals.  They know who would be a good fit for your team and who wouldn’t.  Ask if there was one agent out there who you’ve had a great experience with — a ten on a scale of one to ten — who would it be and why.  Then call those agents up and share that compliment.  Let them know you’re impressed and you’ve got an open door if they ever think about making a move.
  4. Befriend those agents on social media. Use your social media platforms to be top-of-mind with your co-broking agents so they can get to know you over time.
  5. Write a recommendation for them on LinkedIN.  Everyone can use kudos – especially when they are well warranted.  Writing a recommendation is a great way to let those agents know they are doing a great job and that you noticed, and for the clients and friends in THEIR sphere to hear see those glowing words about them as well.

The possibilities are endless, but definitely be sure to incorporate these ideas into your spring recruiting efforts.

Recruiting  is all about staying in touch.  Staying positioned.  And communicating.  We have the systems that can help you do all of that and more.  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 25OFF to save 25% on any pro membership.  To access more than SEVEN HOURS worth of my recruiting Audio downloads, register for either the 6 month or annual memberships.  Got questions?  Email us!  We’d love to help!  Make it a great spring season! 

 

Hiring Second Year Agents

A Smart Spring Recruiting StrategyJumping Idea

by Real Estate Recruiting Coach Judy LaDeur

Are you looking to get a jump start on your recruiting? Then call the agents who are most likely to move. Statistics show that most agents who go on to become top producers, will make a move 12-24 months into their real estate career. Why? Most agents do not know what to look for when they are starting their career. They are excited that so many brokers are offering them positions. They might pick the one who they like the best, or the one who makes them the best offer. But not all brokers carry through on their promises, and what agents find out really fast, is that there are some really important criteria that determine how successful they can be as an agent. What is the strength of the name of the broker in their area, what are their listing tools which will allow them to compete for listings, what is the commitment of the other  agents in the company to be successful and to work together as a team? The best agents figure out that when they have the right tools, environment and systems, it’s much easier to have a successful career. It’s for that reason, that many agents will make a move soon after they finish their first year in real estate. Check with your board or state to see if you can get a list of all agents who started their real estate career since January 2014. These agents are the most likely to make a move, and the best news is that statistically speaking, they will stay with you an average of seven years if they are happy. Maybe even longer!

Here’s a great recruiting letter you can customize and send to these potential recruits: 

Letterhead

 Dear (First Name),

Our records indicate that you are fairly new to the business. How is your real estate career progressing?

Did you know that a NAR survey of top producers indicated that approximately 87% of all agents surveyed made their first move 12-24 months after getting into real estate? Have you made your first move?

If yes, then statistically speaking, you’re on your way to becoming a top producer. Most agents who go on to become top producers will make another move at some point in their real estate career, so we would like to give you some info about (your company name) now so that when that time comes, you will know enough about us to know if we are a good option for you.

If you have not made a move, are you making the kind of money that you thought you would make when you got into the real estate business? What type of personalized coaching, mentoring and training have you received?

If you knew that you could take your career to the next level and make the kind of money that you hoped you could make by making a move to (your company name) would you make the move?

Let’s get together and see if you can!

Warm regards,

Your Name, Title

This is just one of many recruiting letters, scripts, tools, newsletters, training and special offers you’ll find in The Profitable Recruiter Systems.  Each month our members receive 4-5 weekly newsletters, broker challenges and step-by-step action items, 2-3 recruiting letters, 2-3 lumpy letters, social media posts and strategies, 1-3 retention tools, 1-3 new scripts, a powerful training webinar with top talented brokers, agents, and coaches and more.  We deliver all the tools you need to grow the business and agent team you really want.  

And for a very limited time ONLY, I am offering my Profitable Recruiter Audio Training System (a $297 value) to every broker who registers for a six month or one year pro membership to The Profitable Recruiter.  In this audio training package, you’ll have more than SEVEN HOURS of recruiting tools, scripts, dialogues, role-playing, and foundation builders.

Register today for the six-month or one-year Profitable Recruiter pro memberships and we’ll send you the link and password information to start listening to Judy’s incredible training tools right away. 

Got questions?  Email us for answers!  Good luck and happy Recruiting! 

 

5 Questions to Ask Every Recruiting Prospect NOW

Getting Positioned for Success

By Real Estate Recruiting Coach Judy LaDeur

Brokers and recruiters all across America are saying the same thing. “What’s up with the recruiting market this year? I am doing everything I have always done, but nothing seems to be working!” I have been talking to a lot of brokers who remember those days well.  Ten years ago, when the market was really hot, brokers had the same frustrations. The best agents did not move until after the spring market. Of course, then they went on vacation, and spend some of their hard earned money. Those days have returned. The good news is the real market is back. What that means for brokers is that once again, they need to spend the summer getting positioned for the agent movement that will occur in August and September. There are lots of ways to stay positioned, but as we mentioned in last week’s article, it should be passive. Agents don’t want to feel the pressure right now. Since we know what their next eight weeks looks like, let’s give them what they want. A little time to relax, recoup and regenerate for the full court press in the fall.

I have been talking to many of the recruiters that I coach, and they are all saying the same thing. The agents are willing to get together but most want to wait until August. So let’s start booking interviews for August! Don’t get me wrong. I think that you always have to ask the agents if they are willing to come in for an interview, but if you can not get the interview, use these questions at the end of he call to book your August interviews.

  1. “Stats show that this was the best spring market in 10 years, would you agree with that statement?”
  2. “It also shows that most agents were completely focused on their business and making money, and in fact, many were worried that the market might slow down again. For that reason, most agents were not going to do anything to break their momentum, which includes making a move to a new company. Would you agree with that?”
  3. “Those same agents are planning to take time to relax recoup and regenerate in July before getting back to work for a strong fall market this year. Are you planning to take some time off?  What are your plans?”
  4. “In years past, when the spring market was really strong, the best agents chose August as their time to look at their options and consider a move. It’s the perfect time to make a move, based on lower inventory.  Would you be willing to look at your options in August before the market picks back up? “
  5. “Great! Let’s set a time now and put it on the calendar. What day in the week is the best time for you to meet? Do you prefer morning or afternoons?  Great! I look forward to getting together then.  I will send you some info over the course of the summer, just to stay in touch. No pressure. We have a Motivational email that we send to our agents each week. It’s a great way to start off every week.  Do you mind if I send you a motivational message each Monday morning?  Perfect.”

Once again, always ask them to get together now. Many will. But for those that won’t, let’s start building that pipeline full of prospects for August.

The Profitable Recruiter Marketing Platform has a lot of great ideas to gently stay in touch. If you are a member, check out all the new tools on your Members Only Tools and Marketing materials section. Of course, one of the best tools to stay positioned, is The Profitable Recruiter ENewsletter Campaign. It’s a fun marketing piece for the summer.  Check it out at www.TheProfitableRecruiter.com.

Summer is also the time for retention. Your agents might be looking at their options as well. Over the next eight weeks I will send you ideas and suggestions to retain the ones that you have, while getting positioned for the ones that you want.

If you’re 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 30% off with the promo code 30OFF any pro membership.  That’s 30% 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!