April 25 2014
Several years ago, I did a recruiting study of one of the top CENTURY 21 firms in the nation. Despite the fact that they were enrolling more than 1,200 new recruits in their real estate school each year, it was still difficult maintaining a high-quality staff while continuing to expand.
Over the course of several months, I studied the firm and put together a multi-faceted program that included everything from determining which agents to target, an action plan, a custom email campaign, database management, goals and tracking.
In Part One of this series, I took a look at what experienced agents want most, the reasons agents cited as factors in associating with a specific real estate firm and, more importantly, why they stayed.
A study conducted by the California Association of REALTORS® showed – surprisingly -- that money and commission splits are not the most important factor.
Here are the top reasons agents cited for staying at a typical brokerage:
And here are the top reasons cited by agents for leaving the firm where they worked:
Note that the top three reasons an agent leaves a real estate brokerage has to do with how they felt they were treated, not money. And, an overwhelming majority had to do with support services and/or recognition.
As part of the study, we also looked at some of the reasons agents might be reluctant to leave the company they are working for. Here is where money and/or listings play a leading role.
Now that you know this, you can begin creating a profile of the type of agent you are looking for as well as how to target them.
It's also important to understand that once you get a quality, producing agent, you want to keep them. Too many firms are an endless revolving door with agents coming and going on a much too frequent basis.
The next step is determining the type of agent you are looking to attract. Depending on your size and market niche, here are some ideas to consider in your recruiting efforts:
Of course, these are just basic ideas. An effective campaign will rely on many factors including your ability to target and attract agents that will not only survive, but thrive, under your leadership.
A great first step in any recruiting campaign is giving the agent the tools they need to be successful. Offering a value-added tool like WebsiteBox.com provides new agents with a great starting point.
To view the original article, visit the WebsiteBox blog.