The lifeblood of any successful real estate company is and always has been recruiting! This 2 part video delves deeply into the types of agents, which ones are profitable to the company, and the ways to easiest and most successful ways to bring them into your office.
“All of my problems can be solved by recruiting.”
If you get that part right and screw up the rest of your business, you can still have a successful brokerage.
Any choice you make NEEDS TO CONSIDER: How does this affect my recruiting?
More agents get you more more deals, more deals get you more profit.
That’s the entire real estate brokerage business.
Recruiting is a long-term project. Commit to it long-term or do something else. It will take about 6 months for it to kick in. Start and stop is biggest problem in recruiting.
03:15 What types of agents do you want?
- Top Producers (25+ deals per year) – everyone wants them and there are not enough to go around. They account for less than 7% of the agents. They are the lost leader.
- Average Producers (6-8 deals per year) – They account for 50% of the agents.
- Low Producers (1-3 deals per year) – They account for the bottom 20% of the agents. What do they have to lose? They aren’t making money, they are too easy to recruit.
- New Licensees – strictly a numbers game. They account for 20-30% of the agents.
06:15 – Top Producers defined.
You don’t recruit a top producer. You catch them when they are pissed at their existing broker or are forced out. You need to be standing there with your arms open.
08:00 – You can’t offer them a bigger slice, but you can offer them a bigger pie. Remember too, they can be bought.
09:45 – Remember that even though you don’t make much off top producers, they are good for inventory, branding, prestige, and recruiting other agents.
10:00 “I’m a low producing, failing agent!”
11:09 – Average producers defined.
These are the most profitable agents to the brokerage. They don’t produce enough to be a pain and demanding, yet they are usually self-sufficient and require minimum oversight. Realize, they will usually stay average if they are still average after three years. They are happy where they are. But, the good news is they are more apt to STAY if they have the culture in the office that keeps them happy. They are highly social.
15:30 – Touching on Destination Broker
16:00 – Average producers won’t really work harder but will be happy to earn more and do more deals if they are handed the deals. These are the perfect targets for Broker leads. They truly benefit from systems and support, and then you make more money.
18:15 – Low Producers – don’t discount them. You just need a lot more of them. There are two types:
LOSER agents – lazy, stupid, or have attitude problems or a combo of all three. AVOID these. RED FLAG: bad mouths current Broker, other agents, blames others for their low production. You can’t fix stupid, lazy or broken. They will infect your team if you bring them in. They are GREAT liars.
21:30 UNTRAINED & UNAPPRECIATED: Newer agent, started at the wrong office. You CAN develop this person into an average producer, at the very least. Some will become very high producers.
23:00 – Loser Agents: “It’s not my fault!”
27:25 – Mentor programs work well with the UNTRAINED & UNAPPRECIATED. LISTEN to their stories when you are considering them. They need to know you have confidence in them.
29:00 – Destination Broker explained.
RIO Genesis is committed to bringing you the un-franchise solution: the best tools, training and technology without the headaches, restrictions and cost of a franchise. We are your partners for real estate success.