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.

Scripts and Strategies Webinar On Demand

Everything You Ever Wanted to Know About The Profitable Recruiter But Were Afraid to Askwebinar 2

We had a great turnout for our monthly Profitable Recruiter Members’ webinar.  This month we did something a little different. Normally our monthly webinars include a guest speaker from the industry, but we had so many brokers who really are eager to hit the ground running and make this their best recruiting year ever and wanted to learn more about how to use their platform more effectively. So that’s what we covered. The A-Z of how to use The Profitable Recruiter Membership platform to recruit the agents you want and need this year. At the end of the session Coach Judy LaDeur also shared great scripts and strategies for handling some of the biggest recruiting objections that our listeners were facing. So don’t miss out on those!

Thanks to all of our members who shared their questions, and of course to Judy for always delivering great content and answers!

If you’re ready to recruit your dream team and have YOUR best year ever as well – become a member today.  Why? Because creating is hard. Knowing what to send and say to recruit the experienced and new agents you’re looking for to continuously grow your powerful team of agents isn’t easy when you’re going it alone.

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 actively using everything in your platform. 

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.  Don’t forget — you can add up to TEN (10) managers or administrators to your account.  That way everyone on your management team is on the same page and working together to grow your company.  Not a big organization? That’s all right too! We can add your admin assistant and help you have as much recruiting power as possible. 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!

One Powerful Script to Inject Some Energy into Your Recruiting

And Get Your Team InvolvedEmpty office desk

By Real Estate Recruiting Coach Judy LaDeur

I’m often asked about my ‘favorite’ scripts for recruiters.  Which ones to use when.  How can I get better (or less afraid) at making recruiting calls?  How do I know which agents in the market place would be a GREAT fit for our office?

Have I got a quick script for you that engages your current team in a positive way, and gets them to help line up new recruiting prospects FOR YOU, also in a powerfully positive way! I call it my “One Desk Left” script.  Here’s how it goes:

First, task your agents to give you a business card and write the name of the agent they would like to see you hire if there was only one desk left in the office. Have them write the name on the back of their card. Then use this dialog to follow up with agents:

Only One Desk Left Dialog

Hello (their name), this is (your name and company name). Did I get you at a good time?

The reason for my call is to pay you a compliment. (Let them respond.) This week I walked around and asked each of my agents this question: If we only had one desk open and we could only hire one agent, who would you most like to see sitting in that desk? I am sitting here holding (number) cards with your name on the back! I was impressed, especially with the number of agents here in our marketplace. When my agents feel that way about an agent, I make it a goal to call and not only pass on the information, but to also see if we can get together. I would like to know more about how you do your business but would also like the opportunity to tell you more about the way we do business here at (Company Name).

If they say No:

I understand, and I respect that you are happy at your present company, but sometimes things change. I have always found that it is nice to at least know that the competition has to offer if that day ever comes.

Let me ask you this: If you were to make a move today, what would you be looking for in another company?

What training is most important to agents in today’s market?

If I could help you increase your business by $ __ per year, would it be worth an hour of your time to see how?

Great, I have time available today or we could meet first thing tomorrow. Which time would be best?

Taking the fear and frustration out of recruiting calls starts with preparation.  With setting the stage consistently in your market place so that when you do have the opportunity to speak with the agents you most want on your team, they (a) know who you are, (b) know what makes your organization unique, and (c)  are comfortable talking to you because you’ve made them a priority to connect with again and again.  That’s one of the reasons The Profitable Recruiter system works so well.  It gives you a low-key way to stay positioned with agents that would be good team members for your company.  Oh- and there’s a bonus to this approach as well! RETENTION.  Your current agents will appreciate that you involve them, want to know their opinion, and are eager to choose new team members who THEY would work well with.  (How’s that for a win-win-win!?)

Scripts, and practice also remove fear and increase your confidence to go after even the highest producers, because you have a track to run on once you pick up that phone.  This month we’ve made it even easier to find the recruiting scripts in our platform by putting them as downloadable pdf’s in a navigation tab all their own!  Once you’ve logged into your membership site, simply click on the tab that says recruiting scripts.  Choose the ones that work best for you – print them and keep them in front of you when you’re on the phone.  Many of our members even make several copies for their phone sessions, so they can add the recruiting prospect’s name to the top, and keep notes on their conversation.  They can then transfer those notes into their CRM or database, or even go ‘old school’ and put them in a ‘follow up’ binder.

Do you want to hire more agents in 2016?  Learning to handle whatever objection comes your way with ease are both important parts of the puzzle! Not only will you learn many of these vital tools in the 7+ hours of audio training that you get as part of your Profitable Recruiter Pro membership – you have the advantage of learning on demand – individually or as a leadership team.

And if you HAVEN’T put systems in place to ALWAYS have the tools you need to grow your team with less headaches and more results – consider joining The Profitable Recruiter today.  From now until February 5th make any Profitable Recruiter Pro Membership part of your 2016 business plan, and take 25% off with the promo code 25OFF— PLUS, have the ability to add up to 10 managers or admins to your account at no extra cost!  That’s 25% 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 – AND includes the 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 and hit the ground running for next year! 


Are You Following Up With Your Recruits?

Summer Recruiting Strategiesrecruiting follow up facts

by Real Estate Recruiting Coach and Speaker Judy LaDeur

One of the easiest ways to recruit more agents each year is to follow up with those who say “no” initially. The decision to change offices is a tough one. Sometimes, due to fear of the unknown, the agent will stay put. Have you ever heard that people will stay with something they know, even if it is not good, rather than make a change? The logic is that at least they know what they have. Change requires that they venture into the unknown. However, Brokers who consistently follow up with agents after the interview, say that up to 50% of their hires each year were a results of follow up.

What about the agents who don’t want to get together right now? It’s all about timing, so if it is not the right time for them to get together, your job as the broker is to maintain a non-threatening passive series of contacts until they are ready. When something happens in their life or their office, they will be ready to meet. BUT they will only meet when you have stayed in touch.

When we train recruiters, we always recommend that they go out and interview with the competition before they start their job. It’s a great way to see what others have to offer, and a great way to check out their competition. Recruiters say that it is rare that ANY broker follows up with a note or card! I find that amazing. As a recruiter, I always followed up until I hired them or they went somewhere else. And if they went somewhere else, I still followed up because they might not be happy with the other company.

Register for The Profitable Recruiter today to stay in touch with those agents that you want. The best ones take longer, but they are worth it!

Judy LaDeur
President of Judy LaDeur International