You are viewing our site as a Broker, Switch Your View:

Agent | Broker     Reset Filters to Default
Tired of Large Brokerages or New Brands Stealing Your Thunder? Learn How Small to Mid-Sized Independents Are Fighting Back.
Tuesday, October 22, 2019 at 11:00 AM PDT Wonder how small to mid-sized independent brokerages are winning the war to recruit and retain top agents and remain profitable in a time of shrinking margins? Join Bondilyn Jolly, VP of Marketing at Elevate and Managing Partner of 3sixtyfive.agency, as she leads a round table discussion with Frank Chimento, VP Broker Relations at Elevate, and Justin Falb, Managing Broker of Oceans Luxury Realty. They'll discuss the challenges of small to mid-sized brokerages and walk step-by-step through what successful brokerages are doing to gain an unfair advantage in the market. Register now!
MORE >
3 Steps to Inspire Agent Loyalty at Your Brokerage
Summer has come to a close--and so has busy season. Before you settle in for a long season of paying out commissions for all those closed deals, finishing up file reviews, and double-checking for compliance, let's take a few minutes to look at something just as important: agent retention.
MORE >
Veteran Steve Ozonian Joins Inside Real Estate Board of Directors
MORE >
Premier Sotheby's International Realty Partners with RPR to 'Connect' with New Recruits
Even the biggest of brokerages can use a little help when it comes to onboarding and training new agents. The team at Premier Sotheby's International Realty recognizes that RPR provides unique services, dedicated support and a user-friendly interface. That's why the Naples-based firm, with more than 1,100 agents in West to Central Florida and North Carolina, is utilizing the analytics and custom-branded reporting tools they're able to tap through RPR to elevate their own brand.
MORE >
IXACT Contact Launches Broker Portal, Recruiter Enhancements
MORE >
OJO Labs Adds Two Heavy Hitters to Lineup: Heller and Karns Join the AI leader
OJO Labs announced today that former Keller Williams CEO Chris Heller and Amazon veteran Karen Starns have joined the artificial intelligence leader. OJO Labs is growing rapidly far beyond building a world-class management team, adding tens of thousands of new home shoppers who are using its groundbreaking conversational AI assistant – working in tandem with local real estate agents and brokers – to help find the right home. OJO is stacking its team with all-star talent from diverse backgrounds, also recently naming Drew Miller, a former frog design executive creative director, as its senior director of customer experience. Here's the official news release: Accelerating OJO Labs' ambitions to deliver exceptional consumer experiences, Chris Heller joins as Chief Real Estate Officer and Karen Starns joins as Chief Marketing Officer AI technology company continues to stack its team with all-stars from diverse backgrounds Austin, Texas, July 19, 2019 – OJO Labs, which empowers consumers to make better decisions through its conversational AI (artificial intelligence) platform, "OJO," announced today that two top industry leaders who have led at the highest levels in real estate, financial services, consumer products, and enterprise technology joined their executive team. Real estate industry leader, Chris Heller, former CEO of Keller Williams, the largest residential real estate brokerage in the world, and most recently CEO of mellohome, joined as OJO's Chief Real Estate Officer. Consumer brand trailblazer, Karen Starns, who most recently led brand and customer experience at Amazon for Echo, Alexa, FireTV, Kindle, and the portfolio of Amazon smart home devices, joined as OJO's Chief Marketing Officer. OJO's CEO John Berkowitz said, "Karen and Chris are uniquely equipped to bring OJO to consumers in a natural and delightful way while enabling realtors, loan officers, and other service professionals to act as superheroes for their customers. Hiring these two leaders is the perfect demonstration that due to the technology and strategy of OJO there doesn't have to be a choice between obsessively serving consumers and helping the real estate industry thrive." OJO, the face and personality of the company's AI technology products, is fast growing across the U.S. quickly gaining trust and admiration from consumers navigating their home journey. The addition of Heller and Starns to its c-suite is a strong indication of the organization's ambition to reinvent the home buying and selling experience for everyone and help accelerate the company's mission to transform an industry. While serving as Keller Williams' CEO, Heller helped increase profits within two years by almost one hundred percent and built the strategy to completely retool the company's approach to technology. Heller took notice of OJO back in 2016 when he first met the company's CEO, John Berkowitz, and Co-founder, David Rubin. "What really makes OJO stand out are its leadership, team, and capability to execute on its vision. OJO was the first company to come into the Real Estate industry and drive the innovation of an AI assistant for the benefit of consumers and agents alike. Since meeting the OJO team several years ago, I have seen them combine vision, operational excellence, creativity, and extremely talented leadership to bring an important and valuable product to market," Heller said. "The foundation is assembled for us to continue building one of the more significant companies in the real estate industry." As OJO Labs adds tens of thousands of new users, the conversational AI assistant helps inform, guide and equip customers with information to facilitate finding a home they'll love, and making this major life decision with confidence. Armed with extensive brand and marketing expertise from leadership roles at Amazon and Microsoft, a track record of solving complex marketing problems, and deep consumer insight, Starns will develop scaled channels to continue to rapidly grow OJO's user base while building a brand that consumers trust. "We have an exciting marketing challenge of educating and introducing consumers to a technology that solves real problems by meeting them where they are and redefining how they search for, buy, and sell a home," said Starns. "What ignited my enthusiasm about OJO was the organization's empathy for customers and their authentic and differentiated approach to the real estate industry. Boiling it down, I am a brand marketer at heart, and the best and highest impact roles I've held have been centered on building a brand that people love and can't live without. That's what we intend to do with OJO," said Starns. With Chris Heller and Karen Starns joining OJO Labs, the quest to build an exceptional consumer product is accelerating. "The significance of having Chris and Karen on the OJO team is immeasurable," said CEO, John Berkowitz. "We are extremely fortunate to have these two brilliant leaders buy into our vision and commit themselves to help us achieve our mission of empowering millions of people to make better decisions through the fusion of machine and human intelligence." About OJO Labs Inc. OJO Labs is on a mission to empower people to make better decisions through the fusion of machine and human intelligence. The company's unique, patented AI technology products can conduct text conversations with consumers at scale. By combining natural language understanding with data and personalization, the products allow consumers to deeply engage in a purchase process before interacting with a salesperson. OJO Labs is backed by the two most active VC firms in Texas, leaders in real estate and financing industries, as well as key industry executives. OJO Labs has recently been recognized among the "Best Places to Work" by the Austin Business Journal, a 2019 Austin A-List Award winner, an Artificial Intelligence Excellence Awards recipient, named to Red Herring's North American Top 100 list, and an AI Breakthrough Award winner for the Best AI-Based Solution for Real Estate. The OJO team has decades of combined success scaling businesses and deep experience in data science, engineering, product marketing, and operations. To view the original article, visit the WAV Group blog.
MORE >
Small and Midsized Brokers Power Recruiting with Core BackOffice
MORE >
5 Don'ts to Help You Recruit Agents This Selling Season
Recruiting is a constantly changing field, especially in the highly competitive real estate market. How do you stand out? Attract the right agents? Convince them to join you? This selling season, let's take a look at five don'ts when it comes to recruiting agents for your real estate brokerage.
MORE >
Hiring a Gen-Z Intern May Be the Best Thing You Ever Do for Your Business
MORE >
Lone Wolf's New CEO Jack Blaha
WAV Group and RE Technology would like to welcome Jack Blaha to the real estate industry. This article is part of our Follow the Leader series that highlights real estate's most profoundly impactful CEOs. Blaha (pronounced Bla-ha) has taken the helm at Lone Wolf Technologies, replacing CEO Patrick Arkeveld who has moved up to Executive Chairman of the company. (Lone Wolf founder Lorne Wallace continues in an executive advisory role with the company).
MORE >
Brokers: Does your real estate tech stack really help recruit and retain agents?
MORE >
7 Real Estate Job Descriptions to Hire an All-Star Team
Your job descriptions should be informative, but also stand out. How do you write one that isn't boring, too standard, or just a supremely lame laundry list of duties? The first step in growing your business is to think about hiring your team. And when that time comes, you will need to sit down and compose job descriptions that will entice the best candidates to come knocking on your door. Where do you start? List out the responsibilities of the role, then think about what traits, skills, experience, and education is necessary to perform the job well. We put on our thinking caps and did some of the work for you. Here are some sample job descriptions for various roles that make up an all-star real estate team. Keep in mind that these are general guidelines, and should be tweaked and personalized to better align with your perfect new hire.
MORE >
Why the Idea of Recruiting Isn't What It Used to Be
MORE >
The Importance of Quality Agent Onboarding for a Successful Team
The real estate profession is unique when it comes to joining a new brokerage or firm. Unlike with traditional job onboarding, there is a combination of requirements to be successful as an agent. New agents need a thorough and effective onboarding process. Many new real estate agents drop out of the industry simply because they didn't receive proper training when they started out. Here are a few tips for how to improve the onboarding process for new agents.
MORE >
5 Key Recruiting Insights for Real Estate Brokerages
MORE >
Why You Should Hire a Social Media Manager
Social media is one of the best ways to find new customers and keep past customers coming back. Having social media accounts is a great first step, but having someone who knows how to run those accounts and platforms to optimize your results is the best way to ensure the success of your business through social media. Most large companies have a social media expert working around the clock, monitoring social media for new trends and opportunities. As a real estate professional running your own business, you need to ask yourself if this is something you can do yourself or would you be better served finding someone to help. Here are a few things that your social media manager should be able to handle, whether that is you or someone else.
MORE >
Success Breeds Success: How One Leader Builds Up His Agents
MORE >
Retention Expert Offers 13 Ways to Keep Top Agents
Retention expert Eric Pearson has 13 ways to make sure good agents stay with his brokerage. He has a plan for agents in all stages of professional experience from trainee to team leader. Eric has decided to provide every possible tool and service they need to enjoy unfettered growth within Pearson Smith Realty – using leads from realtor.com. How can you offer a program for new agents that won't be outgrown once they achieve success? We have 13 different compensation models, so it's very customizable to the real estate agent in terms of what their needs are and where they are in their career. The goal of our lead program is to generate revenue, but it also builds agents and helps them get to the next level. They don't always have the financial resources it takes to get out there and do online lead generation given today's cost. This is our way to help them grow and ultimately lead to a brokerage built off agent productivity. What is your "starter package"? We start newly licensed agents with a program on our All-Inclusive Lead Package. Basically, this provides agents with leads to get started -- and realtor.com is definitely one of our biggest sources. In addition to other syndicated sites, we also use pay-per-click and Facebook. We teach and we train those agents how to convert. We currently provide leads to 125 of our agents on this package. They will probably make up around $750 million of our volume this year – and likely half a billion dollars in sales is from the brokerage supplied leads. How much of your company business comes from leads? From round numbers in terms of what we track, I'd say we're getting about a third of our business from online leads. Some of the other 750 agents associated with Pearson Smith Realty are doing online leads as well; they just do it at their own capacity and spend. The rest is about 50 percent from our database / sphere of influence with a smaller percentage coming from other pillars that agents choose to attack—whether that's general networking, expired, withdrawn, FSBO, circle prospecting, door knocking and open houses. Why so much emphasis on company paid leads for new agents? It's a structured way to help an agent ramp up quickly. Everybody knows the main con in this business is that ramp up period. It takes an agent a year or so to get going and that could mess with mindset and frustration comes into play. It's our way to say, "When you join our brokerage, you're going to be rocking and rolling in four months if you follow the business plan we lay out." How do you help your agents convert? The initial package is run very similar to a team. It doesn't have the constraints of a team, such as having to brand themselves to a team or having to have transactions and listings credited under the team leader's MLS. They're individual agents. They are just held to high accountability and performance metrics. To back this up, we have coaches and mentors and people really putting in a lot of effort. This drives a lot of our revenue and what the main goal is honestly when an agent goes on that package at the end of year one they come in and say, "Hey, I closed 18 deals, Eric!" I then ask, "How many were leads versus how many were personally generated business?" At the end of year one, it's typically, "Well 15 were leads and three were my own." So they stay on the lead program—it only makes sense. It's going to help them continue to grow. It's also going to build their future and their database and SOI (sphere of influence). How do you retain agents who have outgrown the starter program? At the end of year two, I usually see it shift and be a little bit different of a story. "Hey Eric, I closed 30 deals. Fifteen were leads, 15 were my own." I'm usually telling them at that time, "We have several other packages in our brokerage that may be a better fit for you now because your business is rocking and rolling." At that point, they usually make that transition. At the same time, we fill an agent into a new lead spot and repeat the process. How did you decide on 13 packages? Currently, it's 13. We probably will narrow it down some. It's not like you go from needing leads to all of a sudden, "I just want to be a complete individual agent." The progression is typically "I need leads," and in that package, we're also paying for everything for them -- we paid for all the listing expenses, transaction coordinators, etc. This allows them to focus on servicing clients and growing their business. The next progression for a lot of people is "My business is built up. I don't need the leads anymore, but I want to increase my compensation." They may still not quite be ready to lose that coverage of the other items when they get a listing. They still want the brokerage to cover the expenses involved in that transaction. This allows them to invest in their own lead generation without having to worry about some of the additional expenses, and in additional help with bandwidth. And the top people who may not need as much help? Eventually, they want to be an individual agent. It gets a little bit more about compensation and you see someone say, "I no longer need leads, I no longer need the services. Now I just want to go out there build my own procedures and processes and go prosper." So they typically jump to that package then. Do you have a place for starting a team? Yes we have team packages. Our ultimate goal is never have a ceiling for an agent. We have 13 total packages, but with each one usually compensation rises, and they lose some of the services from the brokerage because they don't feel they needed them anymore and they would rather run it their own way. Can an agent change their mind? It's very customizable. We allow the agents to choose every quarter. You hear it every day from everybody else that "This is an agent centric environment." We truly believe our job is to serve our real estate agents, and if we do that the right way, those agents are going to take such great care of their clients. It's going to be a win-win all the way around. We put a lot of pride into that—so it's not just in terms of our packages. We have the best brokerage recruiting incentives. You hear a lot about the profit share models and all those different things. Ours is a revenue share based model and more lucrative then any other brokerage out there. Is this helping you compete in your market? From a tech perspective, they get everything. This is every agent in the brokerage—from the CRM, to leads, and a number of top level tech tools that are coming at no cost to those agents. We're transitioning into another level in 2019 where we will make it even more customizable for agents. I'm super excited about that because it's going to allow agents almost on a transaction to transaction basis to determine what they feel they need during that time. When I look at real estate brokerage in general, it's basically going the way of discount, the way of tech companies that may offer discounts with the goal of one day replacing the agent. My goal is to give the agent everything possible from compensation, training, best in class technology, leads, ability to scale, etc. End of the day, if we service our agents correctly, my belief is having highly skilled agents that offer amazing customer service will win against the disruptors all day long. Are the realtor.com customers receptive to your agents and converting? I'm extremely happy with realtor.com. We run our numbers every day and it offers an incredible ROI. Agents need to give it time. When we put someone on to our lead packages for four months, we don't expect anything to happen right away. Most agents get a realtor.com lead and expect to convert the first one or two. But in reality, we're bringing an incredible amount of those to conversation and getting the highest conversion to closing in terms of any other source that we have. I cannot speak any more highly of what realtor.com is doing. There's a huge difference between a voluntary inquiry on a specific property. When I get that realtor.com lead, that person could be hot that day because they've been on realtor.com for one month already searching and they voluntarily push that button to make that inquiry -- so it's far and away the best online lead you can get out there, in my opinion. As long as somebody is able to give it the time needed and the investment needed to get the number of leads to actually get to a conversion-to-close ratio, there's not a better purchase in the industry, in my opinion. How do you get agents engaged with the leads? If you're on leads with us, you'll have a day that is your day to receive leads. It's nothing but constant training, coaching, kickoff off meetings, scripting—whatever is needed so that the agent is constantly learning and understanding how to get the best conversion possible. We give them a lot of time to get going. We put them in a process where they're getting the coaching/mentorship everything that they need from one another to make sure they're in a position while they'll be able to have speed to lead and then set them up with a CRM that's going to let them see a high level of success. What differentiates the Pearson Smith company? Culture, in my opinion, is our biggest value proposition in terms of things that we do and what comes from the management down. It's open door policy. We're here every single day. We're the first one in and the last one out. I'm kind of the real estate side of things, which is the Pearson; the Smith is my uncle Chuck, who comes from the corporate world and runs an incredibly efficient back-end operation. How do you encourage innovation and idea sharing? I literally read everything that comes through here. If an agent has an idea or suggestion that we feel we can implement and at a high level, and it makes sense, we're definitely going to make sure we do that. We have cultural things that we do, whether it's a Saint Patrick's Day party or the annual crab fest. We bring in bands and make sure we're inviting families and things like to meet not only the agent, but the people that are important to them to be successful in the business. We all know it takes a lot of sacrifice to be a significant other of a real estate agent because they're often on-call 24/7, so we want to appreciate them as well. So back to where we started: what is your goal in making your company a place that an agent would never want to leave? I want them to grow and achieve their goals with no limits. If a person is a good fit from a character level, believes our core values and overall vision, there is not a brokerage in the industry that offers or cares for their agents more than us.  
MORE >
Is eXp Realty Taking Your Agents?
MORE >
How Data Can Change Your Real Estate Recruiting Game
We're pretty vocal about data and how important it is for all aspects of business. So vocal, in fact, we called out Compass on their recent embellishments with plenty of data to set the record straight for our industry. But that's a story for a different day. My point is, data is everything. Without data, we'd all be wandering around the office all day with no real direction. When it comes to real estate recruiting, data can make or break your recruiting game. It's so much more than what people give it credit for, and once you see how powerful it is, you'll never want to go back. Here's how data helps you recruit, retain, and grow:
MORE >
Why You Should Always Be Recruiting Your Existing Agents
MORE >
Recruiting Trauma: Ghosting at Work
You met a great agent you would like to recruit or a potential home seller that you really like. For both of you, business and personal values align. You have a few great phone calls and face-to-face meetings. Suddenly, your colleague disappears and falls off the map. They don't return your calls and may even miss a scheduled meeting with no heads-up. Silence. Just a big echo chamber that leaves you wondering what you did wrong. We have all been there. What happened? You were ghosted.
MORE >
Why You Need an Open-Door Policy Right Now
MORE >
3 Things You Should Never Do When Recruiting New Agents
Recruiting new agents is the main thing every broker and real estate manager thinks of every hour of the day. It's the constant, never ending job that is only getting more challenging. I like to think of it as a treadmill that gets progressively faster and faster, forcing some people to step off and others to find the will to keep going within. It's intense. It's why we created an entire recruiting system to make it easier on managers and recruiters alike. But while the technology drastically helps, there's still the interviews and the interactions that are human-based and can still be butchered if one forgets to be on their best behavior. So, with that in mind, we put together a short list of things you should never, EVER do when recruiting new agents. If you do, it'll surely come back to bite you.
MORE >
Defend Your Brokerage Fortress: The Solution to Margin Compression
MORE >
Friday Freebie: Broker's Guide to Recruiting and Retaining Top Agents
Frustrated by the challenges of recruiting top performing agents in this competitive market? You're not alone. A whopping 78 percent of brokerage leaders say recruiting is their top business concern, according Imprev's 2018 Thought Leader Survey. So how can managing brokers improve their recruiting and retention outcomes? A new guide points to strategies brokerages can employ to attract and keep high performing agents. The best part? It's free. Read on to find out how to claim your free copy! Free Guide: 3 Ways to Recruit and Retain Top Agents, courtesy of Matterport Matterport's new guide to recruiting and retaining agents in broken down into three parts. The first two sections, attracting and retaining top agents, are chock-full of practical advice. Readers will learn about the importance of monitoring your competition's commission structure, creating mentorship programs, and investing in technology. The third section, Leverage Recruitment Marketing on Facebook, is the part that really shines. Here, Matterport breaks down how to target and advertise to potential recruits on Facebook, engagement strategies for your Facebook page (including showing off impressive visual assets generated by Matterport, like 3D property tours, high definition photos, and floor plans), and more. Matterport is right to focus large chunks of this guide on the importance of technology in recruiting--and brokers would be wise to heed their advice. As older agents age out out of the industry, brokerages are struggling to attract younger agents to take their place. By emphasizing the technology they offer agents--and how that technology can help agents sell more homes--brokerages play into the affinity of the younger generation for technology. It's not enough to simply offer technology, however. Brokerages also need to make that technology accessible and easy to use. In the guide, Matterport also touches on how to create an infrastructure and environment that not only encourages tech adoption, but tech proficiency. Ready to begin crafting a strategy to attract and retain the top performing agents in your area? Download 3 Ways to Recruit and Retain Top Agents to get started!    
MORE >
Recruiting 101: What Agents Really Want
MORE >
Friday Freebie: The 27 Words that Will Revolutionize Your Recruiting Strategy
Our current low inventory market conditions make recruiting (and keeping) top producing agents more important than ever. Top agents know how to bring in business, and brokers know they can rely on them to bring in a steady stream of commissions--despite inventory challenges. But just as the competition for listings is fierce, so too is the competition for these top earners. How do you make your brokerage the one that agents pick over all the others? The answer may lie in just 27 words, according to a free new guide--and these 27 words may just change your entire recruiting strategy. Free Guide to 'The 27 Most Influential Words for Recruiting' Guide author Frank Chimento, VP Brokerage Development at Elm Street Technology, has almost two decades of experience helping brokerages recruit agents. He's convinced that the key to successful recruiting "has far less to do with 'value propositions,' brand names, and compensation models and far more to do with proper persuasion, influence, and sales psychology techniques." If you want to "succeed wildly" at recruiting, he says, "then you must understand and incorporate the 27 most influential words you will ever know." So what are these 27 words? We'll give you a hint: they're not a list of words. They're a single, coherent statement--a mantra, if you will, that should inform your entire approach to recruiting. These 27 words are just the tip of the iceberg, however. The guide also offers advice on the psychology of appealing to agents and actionable tips for reshaping your recruiting strategy. And, as a bonus, you'll gain access to additional videos and articles that support your recruiting efforts. Ready to get started? Download 'The 27 Most Influential Words for Recruiting' today!    
MORE >
3 People Who Should Absolutely Consider a Career in Real Estate
MORE >
How RE/MAX Integrity Overhauled Its Recruiting Success Rate
RE/MAX Integrity broker Paul Blumenstetter noticed when reviewing his business and going through planning sessions that the overall growth of the number of agents joining the brokerage had become somewhat stagnant. A call-down campaign was implemented and the firm quickly realized that it is difficult to create and build relationships via cold calls. Blumenstetter needed a different, softer approach to stay in front of his prospects and knew that intelligent, engaging email has been proven to do just that.
MORE >
A Top Real Estate Team Shares Their 3 Keys to Success
MORE >
Friday Freebie: Broker Success Kit for Recruiting and Retention
Recruiting quality agents has long been a top concern for brokers. After all, the success of your company is dependent on the success of the agents who work with your firm. If you're looking to up your recruiting efforts--and retain your existing top players--this week's Friday Freebie is for you. Today, we're highlighting a collection of resources that brokers can lean on when developing or refining an agent recruitment and retention strategy. Read on to learn more!
MORE >
A Broker's Recruitment Success Story
MORE >
ShowingTime's MarketView Broker to Compete with BrokerMetrics, TrendGraphix and Collateral Analytics
A few years ago, ShowingTime purchased a number of companies that focus on market stats. Those products were listing-centric, providing brokers with the capability to look at the market activity around a single property, neighborhood, city/town, zip code, etc. The charts are beautiful, and easily embedded into a broker's website. Track Competition and Market Share With this new product, ShowingTime is developing market charts that change the focus from listings to the brokers and agents that sell them. You can look at the trend of an agent or broker's production either on the buy side or the sell side, and dice that market penetration however you like – you can look at company market share by county, zip code, neighborhood, or agent.
MORE >
This Brokerage Does Onboarding the Right Way
MORE >
3 Ways to Get Top Talent to Join Your Team
Your team or brokerage is full of budding talent that you're actively shaping into top agents. Still, there's something to be said for experienced agents who have already proven themselves. The problem is, experienced agents are likely already attached to a brokerage or team. But that problem isn't insurmountable. Those agents could be working with you. All you need is the right pitch.
MORE >
The Secret Broker CRM You Haven't Heard Of (Yet)
MORE >
The Ultimate Recruiting and Retention Strategy for Brokerages
Accessing and keeping the best talent is key to success in real estate. Your approach to hiring should be a company-wide project. Every member of your team should be responsible for making a contribution to your brand message. Many of the largest organizations in the industry are looking to the tech community for insights on how to onboard and keep the best talent. Here are five ways that we've learned to optimize our approach to recruiting and retention.
MORE >
The Importance of Quality Agent Onboarding for a Successful Team
MORE >
Recruitment Lessons from Obi-Wan Kenobi
In the summer of 1977, I waited outside a movie theater with my best friend, Raj, and the other members of our Cub Scout troop. The line was long and excitement was high. Our group had never been to the movies together and, today, we would see Star Wars. It was the first movie I wanted to see more than once and did. There was no way of knowing I would one day write a blog post about the lessons Star Wars can teach us about recruiting, and yet here we are, and this is that post.
MORE >
How to Recruit the Best Agents for Your Real Estate Firm
MORE >
How to Compete with Big Signing Bonuses
The competition is heating up in real estate. Inventory is tight, agents are competitive, and brokerages are desperately trying to recruit. With a new generation of agents in the real estate world, the way in which successful brokerages approach recruiting has taken a significant turn.
MORE >
3 Clear-as-Day Signs It's Time to Hire an Inside Sales Agent
MORE >
Three Hard Truths About Building Your Brokerage
Real estate is hyper competitive; everyone knows that. According to the 2012 Economic Census, there are 86,004 real estate brokerage firms operating in the United States. This means you have competitors around every corner vying to overtake your market and your business. However, one of the biggest mistakes you can make is focusing on your competition. Successful brokers focus on determining their own strengths and figuring out how to build a solid foundation for their agents and clients. Forward-thinking brokerages are moving in the right direction because they're aware of these key facts:
MORE >
The Real Estate Recruiting Questions Checklist
MORE >
3 must-ask questions when hiring an inside sales agent
Telemarketers. Virtual assistants. Lead scrubbers. There are many terms used to describe "inside sales agents," an industry role that has taken off over the last few years. But few of these descriptors fully encapsulate the role of an inside sales agent (ISA), which is to: Respond to inbound calls or online leads promptly — before they move on to another agent or real estate source Talk with prospects and leads to determine their likelihood of buying and selling Nurture these contacts until they are ready to talk directly with an agent Track engagement and develop a deep relationship so the transition from ISA to agent is smooth, personal and conflict-free As you may expect, not all ISAs are created equal. Some have strict rules and limitations, while others work to become a part of your team's culture. Some simply track their engagement while others make sure to alert you immediately if they talk to someone who they've determined is a "hot" lead. Below are three questions to ask yourself when hiring an inside sales agent to work for your business or team.
MORE >
How to Use Social Media to Find New Agents
MORE >
The Only Metrics That Matter to Your Brokerage
As a broker-owner, you are concerned with your top KPIs (Key Performance Indicators). But despite best efforts to measure and analyze important metrics, you may be missing a big piece of the pie. The top two metrics that matter to a brokerage are agent recruitment and retention. Indiviual agent performance metrics are irrelevant if you can’t keep good people on board. Your job is to recruit self-motivated top performers that DON’T need to be micro-managed. We all know the real estate industry is a highly competitive marketplace, so how do you find and hire successful agents while also keeping your star players from switching to another firm? Glad you asked!
MORE >
Does Your Accounting and Commission System Help You to Retain Agents and Recruit New Agents?
MORE >
Big Brokers Need to Stake Their Claim or Risk Annihilation
The start of 2017 has been like no other in real estate. We have just completed our cycle of strategic planning for brokers in real estate and every large broker is facing the same issues. Remember the folklore about the dodo bird? The species lived in a world that was so plentiful, it lost its ability to fly. In the end, that was its undoing. If large firms are not careful, they could walk off the same cliff. Small Firms Are Out Recruiting Large Firms Large real estate firms have become easy recruiting targets for small firms. The big guys have lots of business rules and lots of normalization of around commissions. They have lost a lot of their agility, and are compensating by accepting less broker dollars. Most of all, very few have adopted the requirement that managers have 40 recruiting meetings a month. This is easy to fix with focus. Focused on Lead Generation Instead of Listing Generation The biggest ask from real estate agents today is "feed me leads." In truth, leads are typically buyer leads. Sure, they are nice to have. But what agents really need is listings. Large firms that leverage their historical data can design programs that drive seller lead generation. They can monopolize on new home development. They can leverage their mortgage customers, title customers, and property management customer databases to stimulate listing appointments. Large firms have so many unfair advantages that small firms only dream about.
MORE >
The Top 3 Things Brokers Can Do to Rock 2017
MORE >
Should Brokers Do REALTOR Background Checks?
Too often, brokers and managers get caught up in recruiting goals that they skip some basic best practices – background checks, customer satisfaction checks, etc. Perhaps agents should be checking out the backgrounds of their broker, too. Last month, Todd Kohlhepp, a real estate broker, was linked to seven murders and a kidnapping. Todd was the broker in charge of TKA Real Estate. Inman news reported that the guy had spent 14 years in jail for kidnapping a 14-year-old girl. Of course, his agent ratings on popular listing syndication websites gave glowing reviews. (He has since been removed from those sites). Research Production This case points to some good fundamentals about proper recruiting. You may want to start out by building a target list of agents to recruit. Just as agents focus on customers, brokers should focus on agents. BrokerMetrics® from Terradatum and Trendgraphix are both good for this. You can see things like historic transaction history, how many brokerages they have worked for, transaction dollar volume, transaction location, etc. There is a ton of intelligence available. Do your research. Recruit Around Culture Consider the cultural fit. I recently did a research project to look at agent profile pages on a broker website. We took stock of the brokerage culture that we could glean from simply looking at the headshots of agents. Diving in deeper, we looked at the profile of office managers and how they looked relative to the agents they recruit.
MORE >
When is it Time to Hire Marketing Help for Your Real Estate Brand?
MORE >
Real Estate Recruiting and the Power of Belief
Do You Believe in Magic? As you turned the pages, you imagined you were actually in the great dining hall at Hogwarts, watching the magical Sorting Hat place first-year students Harry Potter, Ron Weasley and Hermione Granger into Gryffindor. The adventures played out and the personality of the characters pulled the reader in, often causing them to stay up way too late to read "just one more chapter." Many fans read the entire anthology of Harry Potter aloud to small children, even changing voices for the different characters from the high-pitched voice of house elf Dobby to the low bass of Hagrid and the elderly, solemn bravado of Dumbledore. Even now, we hiss the name "Snape" and chills might hit our spines when we think of Nagini, the snake belonging to the villain "who must not be named." It all started when author J.K. Rowling believed in a young boy born with wizardly powers. Rowling imagined a majestic castle that held the Hogwarts school for wizards. She created the characters and creatures in her head then allowed her story to unfold on the pages. Only because J.K. Rowling believed first did millions of children and parents get to believe in the magic of Harry Potter, too. This boy named Harry Potter would make believers out of anyone who read, heard or watched his story. The Harry Potter series was fictional fantasy, as far away from facts and history and real people as one could get. Telling the story in beautiful detail and making the readers believe they were part of this adventure was critical in Rowling building a loyal fan base for her work. Rowling's Harry Potter stories attracted legions of fans around the world, many of them young children who waited outside bookstores with each new release for the opportunity to read a full-length book...without pictures. Think back to when you were a kid — how many 700+ page books would you have read?
MORE >
The Value of Your Value Proposition
MORE >
How Deeper Market Insights Can Give You the Competitive Edge
Your MLS is full of market data that can help you get a leg up on competing brokerages in your area. However, this data is not always accessible in your MLS system. To leverage this data, you need more sophisticated tools than your MLS may offer. This week, we're taking a closer look at one such tool that's highlighted in our 2016-17 Technology Guide--or, more precisely, we're looking at three tools from a single company. Terradatum offers innovative analytics solutions that help real estate professionals leverage market data for everything from marketing to pricing listings to agent recruiting. We've talked about each of these three tools previously, but here's a rundown of what each offers and how brokers can use them in their business. BrokerMetrics: Recruiting, Analyzing the Competition, Tracking Trends What can a potential recruit bring to your firm? BrokerMetrics can tell you by tracking their listings, sales, areas of activity, price changes, and beyond. What kind of return on investment are you getting from your current agents? BrokerMetrics can tell you that, too, and offer precise insights on how your agents are performing. This tool can also show you how your company is performing compared to the competition by offering insights into market coverage broken down by office. Want to learn more about the trends impacting the market as a whole? Get precise numbers on changes to the market by total dollar volume, total unit volume, median price, DOM, and commission. Watch the video below for a brief overview:
MORE >
Recruiting and Retaining Younger Agents: 6 Tips for Success
MORE >
CRM Tools Solve the Problem of Agent and Client Retention
Real estate brokerages waste valuable growth opportunities by over-focusing on new client adoption and agent recruitment instead of implementing solutions for the retention of both. Industry research shows that repeat clients spend 67 percent more than first-time clients, so agent and client turnover reduces a brokerage's potential return-on-investment (ROI) for marketing and training dollars. The key to capturing these high yield sales is enabling agents to efficiently communicate with clients throughout the sales process and beyond. A Customer Relationship Management (CRM) solution significantly boosts the ability of agents to foster long-term relationships, driving repeat—and more profitable—sales. The potential benefits of an experienced agent's digital rolodex, or CRM, cannot be understated. Given that 80 percent of buyers would use their agent again or refer their agent to others, an agent doesn't have to engage in costly marketing tactics to convince prospects of their value—they've already proven it. Agents who have been with a firm for a number of years have cultivated a broad network of the most fruitful prospects. Since client acquisition costs five times more than retention, it makes business sense to provide a targeted CRM tool for agents to maintain positive client relations before and long after the sale, with the added benefit of acquiring additional new referrals.
MORE >
Brokers: How to Automate Just Listed Ads for Real Estate Agents
MORE >
How Much Does It Cost to Recruit an Agent?
The National Association of REALTORS® hosted a Power Broker Roundtable and their recent topic was about agent recruiting and training. What I really like about the large broker roundtable is that you typically get some relatively pure information. I think that is the case here. The roundtable members for this discussion included representatives from some of the finest brokerage operators in America – Nick D'Ambrosia, Broker of Record, The Long and Foster Companies; Lennox Scott, CEO of John L. Scott Real Estate Seattle; Chad Ochsner, Broker/Owner of RE/MAX Alliance Denver; and Linda Sherrer, President and CEO of BHHS Florida Network. By rough count, they represent well over 100 offices and over 10,000 sales associates. When it comes to recruiting, I think they have it down. There were two data points that I extracted from the conversation. First, they have dedicated recruiters. In parlance, Chad Ochsner has three full time recruiters who delivered a net gain of 50 agents this year. That is the first data point. If you have a full time recruiter, you should expect that they deliver between 15 and 20 agents a year. Many real estate brokerages put the responsibility of recruiting on the shoulders of the broker owner or the office manager.  In many cases, that may work out just fine. But in other cases, you may need to recognize that recruiting may be a weakness of an individual in your firm. If that is the case, supplement that weakness by hiring someone who is an expert, or assign the responsibility to someone else.
MORE >
CRM Impact on Recruiting and Retaining Agents
MORE >
How SEO Can Help Recruit New Agents
Attracting the right agents is critical to the success of your real estate business, and that starts with providing the most relevant, current tools for generating new business. Today, most home shoppers start their search online, even before they connect with an agent. That search process ultimately connects shoppers with their agency of choice, and the agencies at the top of the search rankings don't earn that prime position by accident. They do it through search engine optimization (SEO), and a strong SEO strategy will also help you attract the tech-savvy agents who thrive in today's real estate market. The team at Delta Media Group has extensive experience in the world of real estate SEO, and we've put together some tips to help you understand more about how this vital marketing tool will help you attract the best agents for your business. Real Estate SEO: A Match Made in Marketing Heaven We're going to spend most of our time on how the marketing benefits of SEO will help you offer an appealing package to agents, but let's start with a practical matter. Your website surely includes some promotional materials geared toward potential agents, so SEO will also help connect you with agents in your area who are looking for new real estate employment opportunities. When your agent-geared content is optimized for search, it's easier for the best agents to find you, as well. When it comes to helping your agents attract clients, SEO is now a necessity. Getting it right requires an understanding of how shoppers search for homes, and expertise in how search engine algorithms work.
MORE >
The Best Kept Secrets for Agent Retention
MORE >
Sotto Voce: Broker Recruiting and Retention Lessons from the Streets of Brooklyn
One of my favorite people in real estate is John Reinhardt of Fillmore Real Estate based in Brooklyn, New York. I am not sure why, but everything competitive in the New York City area seems amplified. Like his peers, John is always building his business, one great agent at a time. Among John's favorite recruiting lessons is the spot. In John's case, his spot is Peter Luger's Steakhouse. "It is the one place that agents cannot deny a free meal." John is a recruiting machine – among the best in the business. The last time I sat down with John, I shared a story about a phone call that I received from an agent. In this case, the agent shared that her brokerage of 20 years had just been taken over. She was very uncomfortable with the new owners, so she split out with some other agents that started a new firm. The one thing that she did not contemplate in the transition was the loss of the transaction manager, the loss of the broker website, the loss of her listing presentation, and so on. And, although she did not mention it, probably a loss of her office friends. My sixth sense told me that this agent was having a case of buyer's remorse. The decision to join the new brokerage was emotional. Now that reality has set in, the agent was rethinking her decision. It occurred to me that if her old broker had called her back that day, she would have promptly returned to her old office, back to that familiar group of friends, and back to the tools that she knew how to use to service her customers. The soft call back – Sotto Voce. Change is Hard Real Estate agents hate change. They love new things, but they hate change. Change is hard work. Change is disruptive. And, whenever you change something for the better, you wind up losing something in the process. This agent lost everything that she had "set up" and was facing the consequences of rebuilding and relearning.
MORE >
The Three-Pronged Plan for Successful Real Estate Recruiting
MORE >
53 Ways to Grow Your Real Estate Team
You help clients buy and sell properties, and you know how important it is to have a good real estate team around you. But even though you've worked hard to build your business, there may still be tricks you haven't tried yet. We think we've uncovered some cool tips – as well as some regular ones – so read on to find out 53 efficient ways to grow your real estate team. The Members of Your Team 1. Get the right members for your team. The office manager, a real estate assistant, a driver (can be useful when showing clients properties where parking is difficult), a concierge (some offices have somebody who greets everybody), and others.2. Hire agents. Of course! These are special people, and they will make up the largest part of the team, so from here on we only discuss agents. Here are 7 tips on how to pick a real estate agent.3. Remember, you don't have to hire continuously. Some people are natural team builders, but for others it can be better to build a team slowly.4. Get yourself a business, not a job! Eventually you may have a team that is so good that you don't need to be there. Employee Selection Criteria 5. Aim for quality. Quality is better than quantity. The right people, well-motivated, will generate more real estate business than a much larger team of people who you might think twice about keeping on your roster.6. Hire slow, fire fast. People who don't accept the company culture (which may well be more work than they'd have to shoulder in other companies) need to get out... fast.7. Get the job done. The people you want on your team are people who are doing the business, not just talking about doing the business!
MORE >
5 Email Templates to Recruit Top Real Estate Agents
MORE >
Retention Strategies for Real Estate Brokers
The longer a sales agents remain with a brokerage, the less that brokerage has to spend on recruitment and training. Longevity also contributes to higher rates of homebuyer satisfaction, which leads to a higher rate of referrals. Retaining your agents is a strategy for growth, and it help will build a better environment for mentorship, learning, and better referrals. Finding the right talent that fits well with the company culture can be a huge investment of time and money, which makes retention all the more important. When you do it right, you can keep your top talent and see even better returns. Retention Starts When You're Recruiting You will have a much better shot at keeping your talent when you know what kind of talent you are bringing in. Recruiting sales agents is a careful process that should take some thought, planning, and strategizing. You don't want to take everyone who submits a resume. You don't even want to take everyone with a massive track record of sales. You need someone who fits with your company culture, who is looking for opportunities to grow in their profession, and who will take ownership of their role within the brokerage. As you start the recruiting process, focus on those who you know will positively impact your business.
MORE >
Are You Sure You’re Hiring the Right Personality?
MORE >
How Lazy Brokers Lose Great Agents
The Washington Post recently ran a great article about how Nike lost their endorsement deal with NBA basketball star Stephen Curry. It made me think about how brokerages lose great agents by doing a lot of the same things. First the story of Nike Nike is the market leader in professional basketball with 95.5 percent of the basketball sneaker market in 2014. They sponsored Stephen Curry with an endorsement deal that expired after the 2013 season. Here is how they lost. They showed up to the re-up meeting to renew Curry's agreement with a half-baked presentation. The agent pronounced his name wrong, and there was even a slide in the deck that was left over from their meeting with another star, Kevin Durant. Under Armour had signed Kent Bazemore, one of Curry's best friends, and he saw how they treated Bazemore as a star even though he is a swingman with limited time on the court. It opened the door for Under Armour to get a recruiting opportunity with Curry that led to signing him for $4 million a year. Then, Curry went on to become the best player in basketball and win championships like crazy. His current brand value is $14 million. Big win for Under Armour with a $10 million gain in marketing value, and a big loss for Nike.
MORE >
Who Should I Recruit and How?
MORE >
3 Expert Tips on How to Build a Successful Real Estate Team
Being a huge success in real estate can be much easier said than done, and sometimes a little help goes a long way. Surrounding yourself with the right team is crucial. Bill Pipes of the Tom Ferry team goes over his easy tips to build a winning team around your real estate business. Check out the 6:44 mark for his secrets.
MORE >
Friday Freebie: How to Attract and Keep Top Agents
MORE >
Maybe the Grass is Greener? Agents Switching Firms More Frequently for a Better Deal
In today's real estate market, so called "mercenary agents" are on the rise, switching firms in search of more deals and higher commissions. Many agents are constantly being recruited by and changing teams, joining competing firms in search of greener pastures. Why the wanderlust? Low inventory In hot markets, agents find themselves competing for dwindling listings. To put themselves at the head of the pack, many agents are for firms with a technical edge or other advantages. Commission rates Commission rates seem to be constantly falling, from 6.1% in 1992 to an average of 5.2% today. With newer agents in particular, by the time proceeds are split with the brokerage and other parties, their share ends up looking pretty spindly. Gaining experience and then moving elsewhere as a senior agent can offer a much better return – as much as 80-90% of commissions. Improved marketing support Leaving an agency with a miniscule marketing team in favor of a firm with a herd of support for posting listing and sending out materials can free up agent time.
MORE >
The Technology that Can Boost Agent Adoption of Your Existing Tools
MORE >
Who Do You Want on Your Team in 2016?
Just as we surround ourselves with loved ones around the holidays, so too we should think about who we should surround ourselves with at work--who we want on our team--in the year ahead. One of the best things brokers can do to build a strong business is fill their firm with top producers. This is easier said than done, however. To help you in your recruiting efforts in the year ahead, we've rounded up our best articles about recruiting from 2015. Use them as a map to boost your recruiting efforts in the year ahead. 1. The Right Recruitment Strategy for Long-term Success Trying to lure new agents with features, perks and incentive packages, or even prospective career growth data, may seem good in the short-term, but it is not the key for long-term success. In addition, savvy agents aren't buying these tactics anymore. So what is the right recruitment strategy? By building an authentic trust between yourself, your firm and your potential new hires, your business can grow on a cultural foundation intended for long-term success. 2. Recruiting or Retention of Agents?In a recent meeting I attended of broker owners, there was a question posed: What's more important in your business – Recruiting or Retention of agents? There seemed to be an overwhelming lean toward recruiting and it is hard for me to understand why. Are we overly concerned about getting people in the door to the detriment of the people already amongst us? 3. Step One on the New Organizational Journey Is the Talent SearchWith all of these trends, forces, and dynamics occurring within such a limited operational time, decisions relative to prioritization are likely to be especially difficult. The purpose of these comments are to support a recommendation that recruiting the appropriate talent to manage and inspire the new business model ought to be job one. A strong argument can be made to support the proposition that the single most important word in the industry vocabulary is going to be T-A-L-E-N-T.
MORE >
Building a Team for Your Real Estate Practice
MORE >
Agent Recruitment: How to Spot a Gem
Great explorers know how to find the hidden gems. As a broker, recruiting agents is much the same. How can you spot a gem from a fake? How do you sift through the sediment of a crowded industry to spot and attract gold? It helps to look for certain qualities, much like a gem hunter digs through and filters the rocks in search of treasure. If you see these 6 qualities, you know you've found a gem: 1. Personable and genuine. Many lists about sales personalities identify charisma as a key quality. But charisma, a "compelling attractiveness or charm that can inspire devotion in others," can also turn some customers off. Seek a personable agent – someone with warmth who can make a genuine personal connection, not just a dazzling first impression. 2. Driven – with a fear of failure. Top agents have an achievement orientation and they like to see reward for their hard work. But you might be surprised to hear that their drive isn't JUST about achievement. According to Psychology Today, "apprehension about failing, and attempts to avoid failure, can drive the pursuit of success." It seems that for successful people, fear of failure is a motivator. 3. Strong(er) under pressure. Pressure contributes to the quality and clarity of a gem. A top recruit has this same ability to get stronger under pressure. If a prospect can share examples of how pressure motivated him, he might indeed be a gem.
MORE >
5 Best Ways To Retain Top Talent at Your Brokerage
MORE >
Online Marketing is for Sellers, Recruiting, and Retention
It's November, the beginning of budgeting and planning for a successful 2016. WAV Group studies the online effectiveness of many of today's leading brokers and provides audits and advisory services on optimizing these programs. The true measure of online effectiveness is closing a transaction. Unfortunately, we have observed that closing a transaction is coincidental to online marketing and not a direct correlation. The relationship between an agent and a consumer is akin to dating. Both parties must be attracted to one another. There needs to be a connection and the development of things like trust and confidence. It's a dating game where decisions are based upon emotion rather than facts and numbers. If I were to build a lead conversion team for a real estate brokerage today, I would start by doing a personality profile to find the types of agents who are easiest to like and trust. Smoke that in your lead management pipeline. Obviously, this does not work for real estate because of the democracy of a brokerage culture. We are all equally qualified, right? If you agree that you cannot force a relationship between a willing buyer and a random agent who gets a lead, then you can position the process of online marketing differently. Online marketing is for sellers, recruiting, and retention. Online Marketing is for Sellers During a listing presentation, the agent explains that buyers always use the Internet in the process of looking for property. Your firm will place the property on all of those popular-kid sites. This is so easy to do and I doubt any seller would say, "Wow! That's amazing." So you need to do something different than blast listing syndication because everyone does that. Heck, it's a free service from every MLS in the nation.
MORE >
The Right Recruitment Strategy for Long-term Success
MORE >
How to Keep Your Team Happy
Just like a successful athletic coach, a good real estate team leader provides the right tools and training to help team members overcome obstacles, and sets goals that motivate everyone to perform at a top-notch level. But how can a broker or team leader keep everyone happy and invested in staying with the brokerage? "It's all about trust and respect, and whatever they need from me," says Sally Bowman, owner and team leader at Sally Bowman Real Estate in Cheshire, Conn. "It's like a family here." Bowman, like many other real estate brokers, has formed a team to help her business grow and to provide a higher level of expertise for clients. While growing up, her family owned the local Ace Hardware store, which she says thrived because employees were treated well and customers came to know the level of service they'd receive. That's how Bowman runs her real estate office today. Her team now consists of 12 agents, some of whom have been with her since she opened her own office in March 2009. But she's lost a few along the way. "I trained some really great agents a few years ago, and they were poached by other agencies. I admit, it's a sucker punch," she says. "You always have that fear, but you still have to put your all into helping those on your team."
MORE >
Three Requirements for Recruiting Millennial Agents
MORE >
Lure Big Fish to Your Brokerage
Take it from Paul Mayer: Big fish need a lot of room to swim. Several top producers have surfaced at his Hawaii-based brokerage, Elite Pacific Properties, and he gives them the freedom to explore oceans of opportunities to expand their business. One sales associate in particular, Greg Burns, hosted the Golf Channel's media crew at one of his listings during the PGA's Hyundai Tournament of Champions on the island of Maui this year. In exchange, the Golf Channel gave Burns a segment on a show in which he toured Kapalua-area luxury homes. Elite goes after high-producing agents and gives them a long leash to create the type of connections it takes to sell multimillion-dollar listings, says Mayer, the firm's managing partner. Mayer, who owns the largest luxury brokerage in Hawaii, opened up about his management prowess, offering insight on how to retain agents who want to soar. How do you recruit, and why would an agent choose your brokerage? The top producers want to be associated with a firm that's very selective; they want to know their reputation is safe. We're highly selective of all the agents at our firm. Everything at our company is about high standards, from the listings we take to our professional photography and the quality of our written contracts. It's in everything we do. To recruit top producers, you need to build a long-term relationship. Sending e-mail blasts or using traditional marketing doesn't work. Get to know agents as people, and gradually introduce them to the benefits of your brokerage. We usually attract top producers through their peers — the agents who currently work for us. The vast majority are experienced. Not all of our agents are top producers or sell luxury, but we're not interested in part-time or inexperienced agents.
MORE >
What Recruiters Can Learn from Marketers
MORE >
Step One on the New Organizational Journey Is the Talent Search
One of the most encouraging aspects of today's real estate industry environment is that after years of denial regarding change and transition, there is now a universal agreement regarding the fact that virtually every aspect of the residential real estate industry is set to transition in some way over the next 18 to 24 months. Having crossed this bridge of consciousness, the industry can now get about the task of determining what manner of internal and external relationships will be necessary and appropriate for success in this new environment moving forward. While some debate continues with respect to when these new elements will have to be in place, it is likely that many of these decisions will be determined by when the new industry infrastructure is completed. Across the industry, dozens of new technical and management structures are being created by franchises, brokerages, portals, associations, MLSs and even agent groups. Project Upstream, the Broker Public Portal Project, Flanker, and Property Management are just a few of these new functionalities. With respect to the prioritization process, the leading players seem to be examining a wide range of options. Within the franchise sector, the paramount issues seem to be setting the nature of the franchisor/franchisee relationship moving forward, deciding what role the franchise should play relative to lead generation and processing, and what value to assign to that forever elusive issue of the brand value proposition. Within the brokerage sector, key issue status appears to have been awarded to re-visioning profitability, re-engineering the brokerage agent relationship and moving to introduce new tools such as standards, accountability and best practices.
MORE >
Recruiting or Retention of Agents?
MORE >
Having a Technologically Integrated Brokerage is Crucial to Recruiting Top Agents
Top performing agents have certain qualities in common. They are extremely organized and efficient with their time. Successful, proactive agents rely on maximizing their time in order to accomplish as many tasks as possible and to stay organized along the way. Like top performing agents, top performing brokerages also have certain commonalities. They use an attractive office environment to recruit and empower top performing agents. Attractive, in this case, means offering agents the tools they need to succeed. Being technologically integrated benefits your brokerage in a number of ways and can take on a number of forms. Here are some examples: Website and Multimedia Support: Having a cohesive online presence across all brokerage and agent sites will make your brand appear organized and trustworthy. Your customer-facing digital presence is an essential component of your lead generation strategy. Your beautifully designed brokerage website loses credibility if it is being referenced by agent sites that are ugly and disorganized. Find a website solution provider who can support your entire brokerage so that your agent websites will follow similar styles and formats, and agents will have access to the same support resources. The same goes for social media support. Keep a bank of branding resources such as high resolution logos, testimonials, videos, etc. that agents can use online. Form contractual agreements with media producers such as photographers, graphic designers and videographers. Offer their services to your agents as needed.  
MORE >
Best Practice: Agents Switching Brokers
MORE >
Recruit Your Best Team in 2015
Motivated agents are the gift that keeps on giving. By attracting and retaining agents who are driven to move the sales needle, you push your brokerage further down the path of success. Of course, you already knew that. In fact, 86% of brokers anticipate recruiting agents as their top business challenge in 2015, according to a recent survey by Imprev. Over half of brokers cite "retaining agents and teams" and "attracting younger team members" as important initiatives they plan to undertake in the year ahead. So how can brokers do this? For ideas, we turned to the many articles on recruiting that we've published over the past year. Back in the spring, we featured a series of three articles from a writer who conducted a recruiting study for one of nation's top Century 21 firms. This series offered an overview of: What agents want in a brokerage - Higher commission splits, marketing and promotional support, technology support, good firm reputation, access to referrals, skills training, and more. Why agents STAY at a brokerage - Company name recognition, broker's ethics, management, compensation plan, and more. And why they leave: favoritism, lack of recognition, poor training and support, better opportunities elsewhere, and more. How brokers can target the right agents - First, figure out what your ideal agent is like. Next, create a value proposition for your firm that will attract that agent.
MORE >
3 Ways Portals Help You Hire (and Retain) Top Agents
MORE >
Does your real estate recruiting effectively attract multicultural agents?
Recently I spoke about real estate recruiting in today's environment, for tomorrow's agents. Due to the response on that topic, I want to add a few thoughts building about a multicultural business. As a nation of immigrants, we have seen wave after wave of people immigrating to live the American dream. If you look at the immigration patterns of the late 1800's through the early 1900's you see millions of Western, Eastern, and Southern Europeans coming here and establishing new lives. Over the past 40 – 50 years, immigration has been largely from Latin American and Asian countries. Furthermore, the largest percentage of the Millennial generation, who are the agents and consumers of the future, are immigrants or children of immigrants. How do Boomers compare to Millennials in terms of the ethnic make-up? What does this have to do with real estate recruiting? EVERYTHING! Yesterday's immigrants have assimilated into our culture. Today's African, Asian, and Hispanic Americans will soon reflect the majority of our country. They also represent future homebuyers, agents, and drivers of economic growth. Consider the buying power of these groups: Hispanic American; $1.2 trillion African American; $1.0 trillion Asian American; $718 billion
MORE >
Leveraging Virtual Office Websites as a Recruitment Tool
MORE >
4 Tips for Building a Real Estate Dream Team: Recruiting
Balancing work and your personal life is something that every business owner needs to do, but doesn't it seem like the biggest opportunities always occur on the rare occasions that you take time away from the office? Whoever coined the phrase, "If you want it done right, do it yourself," obviously didn't have a team they could trust. One person can only be stretched but so thin, which makes it unlikely that you'll be available to make every important decision that comes across your desk. This is why it's important to have a team that you can trust with these responsibilities and that will continue to push your business in the right direction. Linda McKissack, real estate coach, entrepreneur and co-author of HOLD. How to Find, Buy and Rent Houses for Wealth, believes that achieving a balance between work and your personal life and finding talented people to work with are two things that keep even the most successful real estate professionals up at night. She has found that one common mistake among business owners is not investing enough time in recruiting because they think there's no one that can do what they do and that the talented ones want to do it on their own. According to McKissack, "It's all about success through people, hiring talent and creating an environment where everyone can succeed." Think about it--wouldn't you feel much more confident knowing that your business is operating at its fullest potential even when you are out of the office? During the most recent Secrets of Top Selling Agents Webinar from Homes.com, McKissack stresses the importance of achieving a work-life balance by leveraging systems, tools and more importantly, people.
MORE >
Recruiting for tomorrow, not today
MORE >
How Technology Can Save Recruiting
Liz Ryan, former Fortune 500 HVP and founder of Human Workplace, recently published a phenomenal article about how the recruiting system utilizes technology to automate an already broken form of fielding for new talent. It's crippling the recruitment process. She points out that asking for resumes and a list of tasks performed, where they worked, and how long they were at their jobs says nothing about the candidates at hand. Reading about tasks doesn't reveal what a person is like, what they care about, if they come to work on time, or if they'll add value to your organization. One of the biggest crimes committed by many recruiters is that they don't align their values. After hours of weeding through various potential candidates — their process doesn't highlight those whose values harmonize with the company's. What you really want to know is what projects each person has completed, what initiatives they took, and what they're like. Liz also makes the point that you shouldn't be talking down to your recruits — you should become more human, market to them, and show how their lives will be better when they join your team. Just like your customers, they too drive your success and should be treated accordingly.
MORE >
3 Powerful Lead Generating Strategies for Recruiting Professionals in Your Field
MORE >
Email Marketing: Fight Spam, Retain Your Agents, Attract New Ones
In today's world, email marketing is one of the easiest ways to reach the community and promote your business. However, email marketing can quickly take a turn for the worse. I've outlined a few of the key components of how and why to integrate a successful email marketing campaign into your brokerage: Spam Have you built yourself a high-quality email list into the thousands, or tens-of-thousands? Give yourself a pat on the back—it's something that takes clever marketing and years of hard work. Wouldn't it be a shame if something, nay, someone, were to put this list in jeopardy? Enter, rogue real estate agent. Everyone knows that real estate agents are notorious for sending out spam email messages. At best, spam gets filtered out before it reaches the recipient's inbox. At worst, it gives the company and agent a bad name among clients, leading to unsubscribes and blocks, which can decimate the sacred email marketing list that took years to build. Save your agent's time Agents are frequently busy with the day-to-day of selling real estate–showings, open houses, glad-handing and slapping backs at networking events. The vast majority of agents do not have the time to craft well-written, tasteful, targeted and effective email drip and blast campaigns.
MORE >
Can You Identify Management Talent?
MORE >
Recruiting: Build It and They Will Come.
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. In Part Two, we looked at what agent's value most in a brokerage and the reasons behind them staying or leaving. And, more importantly, what brokers can do to find, attract and KEEP producing agents. In Part Three, we will put it all together: What is the profile of the kind of agent you want to target? What kinds of incentives can you offer to attract interest? How can you keep good agents once they have joined your firm? As we discussed in Part Two, a study conducted by the California Association of REALTORS® showed – surprisingly -- that money and commission splits are not the most important factor for agents leaving their current firm. 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. The reasons they stayed were very clear. The top three: Company's image/name recognition Broker's ethics Company's/broker's business philosophy
MORE >