Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Smart recruiting vs ‘headcount’ recruiting

08/21/2019

Download PDF

This story is featured in Teams Beat, Inman’s new free weekly newsletter. Every Thursday, we’ll explore the ins and outs of the fast-growing world of real estate teams. Sign up to receive Teams Beat here.

There was a time when “any” agent was potentially a good agent. The pressure to hire real estate salespeople to build a productive office has always been the mandate of every brokerage firm. Today’s reduced commissions, iBuyer programs, internet lead costs and high agent splits drive many brokers and agent teams to bring on agents, no matter the consequence. The market imperatives actually require the opposite. What happens when the wrong fit poisons the office environment or the firm expends time and energy on a sales associate who crashes and burns? The opportunity cost is often greater than the incremental benefit.

One of the most important things to do before you talk to any potential agent candidates is to identify the characteristics that best suit your office culture. Yes, there is a definite culture within your office, whether you recognize it or not. Take the time to define what that is. Ask yourself, does our office cater to new agents with the type of training and support needed to allow them to flourish? Is ours a firm that is geared more toward an experienced agent who already knows the basic ins and outs of the business? Do our agents gladly assist one another, sharing leads and ideas, or are they totally independent and use the office resources sparingly, only as necessary? Once you’ve defined your culture, frame your interview questions to surface what that candidate is seeking.

Next, only hire motivated salespeople. Great sales managers know to be careful with whom they let near their sales team’s minds. Once contaminated, it’s difficult to root out a problem. So, is the agent truly goal-oriented? Do they have aspirations large enough to drive them to talk to people, to get the training needed, to attend social events and to get out there and hustle? Motivation is inherent. It cannot be taught. So, does your interview contain enough questions to flesh out motivation? One of my favorites is, “Imagine that we are sitting here one year from today. What specifically will you have accomplished during your first year with our firm that will make you feel proud you joined our team?”

Finally, in addition to evaluating motivation, personal skills, selling skills and sociability, it’s a good idea to look for agents who, through life’s experiences, have gathered a large group of contacts and relationships. Today’s margins are too thin for a broker to promise agents a lot of leads so an agent needs to come into the business or join an office, knowing enough people with whom they can immediately connect. They also can’t be afraid to maintain contact with those folks. If the response in an interview is “I really don’t believe in working with family and friends because that might ruin those relationships”, move on. They will have a difficult time in the industry, especially because many of their new clients and prospects will become their friends and if they won’t solicit them for future business they’ll have no source for referrals.

Often, the best outcome to an agent interview is a decision to just say no to the interviewee. Twenty years of hiring and training agents has taught me some valuable lessons about what we DO want and what we should attempt to avoid. It’s not an exact science to be sure. A former stockbroker who routinely earned $200,000+ per year failed, while an office assistant in a dental office with no practical sales experience achieved rookie of the year. It’s a mix of experience, aptitudes and attitudes that predict a potential real estate salesperson’s success. Not EVERYbody is a GOOD body for your team.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • Mission Chronicle Newsletter July 24, 2023

    Mortgage rates continued to press downward last week after the previous week's CPI data pointed to e...

  • Mission Chronicle Newsletter Feb 20, 2023

    Despite the recent downward trend in mortgage rates and hopes that the Fed was nearing the end of it...

  • Mission Chronicle Newsletter Feb 6, 2023

    The Federal Reserve meeting ended as market participants expected, with a quarter-point increase and...

  • Mission Chronicle Newsletter Dec 26, 2022

    Mortgage rates held relatively steady last week as most economic news came in better than expected.C...

  • Mission Chronicle Newsletter Dec 12, 2022

    Rates managed to move slightly downward last week as recession fears grew amid hopes that the Fedis ...

  • Mission Chronicle Newsletter Dec 5th 2022

    Mission Chronicle Newsletter Dec 5th 2022. Platforms: Browser, mobile-responsiveIdeal for: Leasing a...

  • Inman Review: Tenants and leasing teams get better connected with RentTango

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Tech Review: Smart Alto puts people first in its innovative lead qualification solution

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • Refreshed and nurture-savvy, Market Leader’s CRM deserves your attention

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 4 tips to improve your negotiation skills

    In today’s luxury real estate market, strong negotiation skills are an asset—you might even say ...

March 2024
Mon Tue Wed Thu Fri Sat Sun
 123
45678910
11121314151617
18192021222324
25262728293031

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...