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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.
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Veteran Steve Ozonian Joins Inside Real Estate Board of Directors
There is a tremendous amount of private equity capital backing many of the leading broker platform providers today. As we recently announced, Inside Real Estate closed a transaction that led to Lovell Minnick Partners joining their investor group. Last week, the company announced that real estate executive Steve Ozonian will represent Lovell Minnick on the Inside Real Estate (IRE) board of directors.
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Premier Sotheby's International Realty Partners with RPR to 'Connect' with New Recruits
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IXACT Contact Launches Broker Portal, Recruiter Enhancements
IXACT Contact announced the addition of significant new features to their Brokerage Program. The first is the Broker Portal, which represents the next step in the evolution of IXACT Contact from a best-in-class CRM for individual agents and teams to a broker-level solution. The Broker Portal makes it easy to administer an organization-wide CRM and further leverage IXACT Contact in order to attract and retain the best agents and teams. The Broker Portal lets brokerages create and publish consistent branding and marketing collateral for their agents by taking advantage of the following features: A fully customized version of the Monthly e-Newsletter Custom graphical email and letter templates Custom Marketing Activity Plans (including drip email) Custom Listing and Closing Activity Plans Pre-loaded company logo and agent customizable standardized branding The Broker Portal also includes the following agent roster management features: A searchable list of all agents with CRM accounts Visibility to key data points on each agent including account status, created date, last login and number of contacts The ability to deactivate and reactivate accounts This first release of the Broker Portal is just the beginning, as IXACT will continue to add new features based on feedback they get from their broker partners. IXACT Recruiter Enhancements Their recruiting CRM, IXACT Recruiter, is another key part of IXACT Contact's Brokerage Program. Along with the release of the Broker Portal, IXACT Contact announced some important new features that will help you do more with IXACT Recruiter. The new Goal Setting feature takes you through a series of simple questions in order to set your annual prospecting and hiring goals. And the customizable Dashboard now includes a new Prospecting Activities widget that summarizes your prospecting activities and allows you to see how you are performing against your goals. The contacts Advanced Search function now includes a number of new ways to search your contact database, including 'keyword' searches on your contacts' history and notes, as well as the ability to easily search for those contacts that are missing key data points like email address and phone number. If your organization is a member of IXACT Contact's Brokerage Program and you're interested in the Broker Portal or IXACT Recruiter, or you want to learn more about the program, please reach out to [email protected]
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OJO Labs Adds Two Heavy Hitters to Lineup: Heller and Karns Join the AI leader
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Small and Midsized Brokers Power Recruiting with Core BackOffice
When recruiting top agents and teams, commission calculations constitutes one of the most difficult hurdles for small and midsized brokerage firms. America has about 85,000 brokerages and over 1.2 million Realtors and teams and, truth be told, there may be hundreds of thousands of different commission calculation programs. Actually working out the commission program needed to recruit agents presents much less of a challenge than tracking these unique commission programs designed for each agent on something other than an Excel spreadsheet. Small and midsized firms need to support variety in their compensation plans in order to recruit. No doubt, enterprise systems like Profit Power and brokerWOLF support any type of commission calculation imaginable for firms with hundreds of agents. But smaller firms require an affordable solution that integrates with QuickBooks. In 2016 and 2017, entrepreneur Jeremy Shoenig developed software for exactly this purpose, called BrokerSumo. In 2017, the company was acquired by one of America's largest brokerage software companies, Inside Real Estate. Since the acquisition, Inside Real Estate made a massive investment in expanding the features and functionality of BrokerSumo, and renamed the product Core BackOffice. Today, Core BackOffice is recognized as one of the most flexible and easy to use broker back office commission management systems in America. Core BackOffice manages office financials and agent financials, processes agent monthly billings, and handles customized commission plans and closing net sheets. Core BackOffice even handles commission disbursement sheets and third-party direct deposit. QuickBooks does the rest. Even large teams are using Core BackOffice to run their financials. Yes, there is more... A key feature of the system is the seamless workflow for new agent and team onboarding. Transactions also sync with popular transaction management systems like dotloop, DocuSign, EZ Coordinator, and SkySlope. When you grow sick of using spreadsheets in your business to do all of the things that QuickBooks fails to do for real estate companies, check out Core BackOffice. Its affordability and ease of use make it a premium product.  
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5 Don'ts to Help You Recruit Agents This Selling Season
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Hiring a Gen-Z Intern May Be the Best Thing You Ever Do for Your Business
There comes a point when your company is bringing in more business than you can manage on your own. That's when most people start hiring help or looking for a business partner. Another option is hiring an intern. A large portion of Generation Z are graduating high school and working their way through college. As they do, they'll be looking for job experience and career opportunities. They'll likely make up the bulk of your intern candidates. Members of Generation Z were born from the mid-1990s to the mid-2000s and make up approximately 25% of the U.S. population. They grew up surrounded by advanced technology and are the most social media and tech-savvy generation yet. If there's a technological aspect of your business that could use some help, a Gen Z intern can probably help.
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Lone Wolf's New CEO Jack Blaha
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Brokers: Does your real estate tech stack really help recruit and retain agents?
If you ask real estate brokers to list their primary pain points, their answers will converge around three things: recruiting agents, retaining them, and keeping them productive. These broker challenges are, of course, fundamentally linked. If you can't attract top agent talent and keep them productive, they'll leave, and you will never grow a thriving business. In fact, the average stay for agents at their current brokerage is just four years, according to NAR. You read that right: as a broker, you have just a few years (if you're lucky) to keep agents around before they jump ship.
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7 Real Estate Job Descriptions to Hire an All-Star Team
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Why the Idea of Recruiting Isn't What It Used to Be
"There used to be a time when you could smoke in the office. There used to be a time when you could work nine to five. And there used to be a time when if your organization had a job that it wanted to fill, it would put up a posting, and people would line up, wanting to take that job." -Jacob Morgan A few weeks ago, I was watching a quick clip from a TED talk when the speaker said this. It really resonated with me; especially when he continued to explain that these people, lined up, waiting for their nine-to-five job, would wait their turns to show off why they should work for that company. It's true that our industry used to be like this. But we shouldn't expect that it's like that today.
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The Importance of Quality Agent Onboarding for a Successful Team
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5 Key Recruiting Insights for Real Estate Brokerages
Not too long ago, Engel & Volkers released its State of Real Estate Recruiting Insight Report with a plethora of interesting information for broker/owners across the continent. The goal of the report? To survey residential real estate agents to see just how satisfied they are with their brokerages, as well as what would make them move. So what did those agents say? Let's have a look at some of the key insights and what they mean for you.
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Why You Should Hire a Social Media Manager
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Success Breeds Success: How One Leader Builds Up His Agents
Dan Lee is a team leader and broker unlike others. "I don't consider myself a savvy businessman," he says. "I consider myself as someone who took the responsibility to provide for everybody else's livelihood." Lee's focus on cultivating his agents' success has led to his own success in retaining and recruiting top salespeople. In this interview, Lee shares his approach to keeping agents happy, why he doesn't hire until he has leads for a new agent, and why he's never had to fire an agent. Read on to learn more!
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Retention Expert Offers 13 Ways to Keep Top Agents
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Is eXp Realty Taking Your Agents?
eXp Realty is an agent-owned cloud brokerage. It is quoted as one of the "most innovative real estate companies in the world" by Inman News. At eXp, there are no desk fees, no royalty fees, and agents get to keep somewhere around 80-100 percent of their commissions. What's more is they offer every single agent the opportunity to buy into the business and become a shareholder. A "we're in it together" mentality, surely leaning towards trying to make traditional brokerages look bad. Never heard of them? They're kind of a big deal. They're listing agents for properties like these, so you can bet their agents know what they're doing.
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How Data Can Change Your Real Estate Recruiting Game
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Why You Should Always Be Recruiting Your Existing Agents
Recruit, recruit, recruit. Getting new agents through the door is the number one thing on every brokerage owner and manager's mind, but does it deserve that top spot? While it's a major pillar of every brokerage's survival plan, we argue there's another aspect of recruiting that deserves the number one slot, and that's existing agents. An agent only spends four years at a brokerage on average. How many of your agents are coming up on that four-year mark?
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Recruiting Trauma: Ghosting at Work
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Why You Need an Open-Door Policy Right Now
In their latest round of funding, OpenDoor scored $325 million in funding. Late last year, SoftBank invested $450 million into Compass. VC money is alive and well, and it's found a home in real estate tech, pouring into the industry. And as we all saw at Inman Connect this month, the competition is as hot as five-star Thai food. It literally hurts to digest.
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3 Things You Should Never Do When Recruiting New Agents
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Defend Your Brokerage Fortress: The Solution to Margin Compression
As we all know too well, there's a feeling of impending doom when it comes to the future of dollars retained by the brokerage. Brokerage margin compression has been accelerating in the past few years especially, but no one seems to be discussing legit ways to battle it. And last I checked, hope is not a strategy. Here's what the retained company dollar average for brokerages across the nation looks like over the past several years, according to the Gathering of Eagles event:
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Friday Freebie: Broker's Guide to Recruiting and Retaining Top Agents
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Recruiting 101: What Agents Really Want
With new brokerages entering the market with aggressive recruiting strategies, brokerages are universally placing a lot more weight on the importance of recruiting. It's easy to spend a lot of cash winning over agents, but we believe the key is to focus on what really matters. What do agents actually want? As you review this list, you'll notice we don't talk about commission splits. You already know commission splits are important to agents and we're sure you're doing what you can to offer competitive compensation. Here are some other things that agents are looking for when comparing brokerages.
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Friday Freebie: The 27 Words that Will Revolutionize Your Recruiting Strategy
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3 People Who Should Absolutely Consider a Career in Real Estate
Do you know someone who wants to break free of the nine-to-five, set their own hours, and be their own boss? A career in real estate may be just what they're looking for! To become a real estate agent, you just have to be 18 years old (19 in some states), be a legal US resident, complete prelicensing education, and pass a licensing test. Some people who may excel in real estate include recent grads, parents, and people coming from a second career.
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How RE/MAX Integrity Overhauled Its Recruiting Success Rate
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A Top Real Estate Team Shares Their 3 Keys to Success
The Kevin Blain Team closed 1400 transaction sides last year--their volume was over a quarter BILLION dollars in 2017. With 18 years in real estate and 75 team members, they're the number one team in California, according to Real Trends. So what are their secrets to success? They shared their approach to customer service, recruiting, and lead generation in recent interview with realtor.com®. Here's a transcript of the conversation: Customer Service You worked hard to establish your name and reputation over the past 18 years and to grow your business. Your team in itself is now larger than some real estate companies. How do you keep that high quality relationship going when you are managing 1500 transactions? Are the customers expecting you to be personally involved? How do you maintain that level of quality and care when delivering through a team? To be able to offer the same level of service with that many transactions we have specialists in place—there are sales specialists, listings specialists, support team specialists. With each having a defined role, it has allowed us to keep a high quality relationship with each of our customers. We have an expression: one client at a time. Each client gets individual attention; that's how we work. Recruiting How do you recruit team members that give you that level of professionalism? We are always looking looking for talented agents. We recruit here in Central California and we look for three things: integrity, attitude and intelligence—and maybe four, as I like to throw in energy. Bringing to the team the quality of service the right people will provide gives us what the customer is looking for. You may ask if the customer is looking for me to be personally involved and the answer is not usually—they expect the same quality of care as if I was. As long as the specialists on the team are delivering that, we will get a five star rating. And what are the agents you recruit looking for in return? What is your value exchange? When they look at our team, we need to exceed the value of what other companies may offer. We have the best support staff—a listing coordinator, a transaction coordinator, sign people—and we have the best training. They are getting training from the number one team in California. When they walk into a listing appointment, they can say that their team is the top team in all of California. We add value by providing leads—internet leads and from other media. Those leads do provide value. Here is a true example: We had an agent who was just starting on our team and after just 60 days in real estate, had closed five and had eight more pending. That does not typically happen, but it shows these leads can help an agent get off to a good start. Lead Generation We understand you have worked with realtor.com to bring in more leads for your team. Do you introduce your lead program when in a recruiting discussion? They bring it up—they know there is value in being on the team. They know there are several ways of getting business and one of those is online leads How have the leads from realtor.com contributed to the growth of your team or your plans to grow? About two and a half years ago, we started our inside sales department and that's when we started to purchase online leads, including realtor.com leads. From there, we have been able to expand to four counties in the Central Valley of California. When you are working with online leads, you need to respond quickly and have the wherewithal to follow up. We know it takes eight or nine contacts to have someone convert to become your client. If that work is not put in, then you may as well not purchase leads. We plan to engage up to 12 times knowing the conversion tends to happen after the eighth or ninth attempt. These are viable people and they get busy, so you have to call or contact them and they will finally respond when it is most convenient for them. What do you do to make sure that the investment you make in leads is not wasted? How do you track what actions are taken with them? I check numbers weekly with our inside sales dept. I look at lead measures every week so there is accountability on both sides. As I see them come in, I can see the follow-up efforts and appointments set, and address any issues if the follow-up is not happening. Is it all worth it? After investing your time and capital in realtor.com leads and following up, what kind of return are you getting on your investment? We get a good return on our investment and we work every day, every week, every month to get better. If you hear complaints that the these leads are not good, I don't believe that. What we have seen is that if we are doing our part to mine these leads and to provide good customer service, then they do pay off. We are continuing to enlarge our territory and go into new locations with online leads. Without them, we could not have made this happen so quickly.  
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Friday Freebie: Broker Success Kit for Recruiting and Retention
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A Broker's Recruitment Success Story
A conversation between Kevin Johnson, OneBlue Broker/Owner and Bondilyn Jolly, eMerge Founder and CEO BJ: The growth story behind OneBlue is really amazing, Kevin. Not only have you successfully introduced a new real estate brand into the Orlando market, you've also recruited a large number of agents in just a few months. What's your secret? KJ: I'm very focused on the concept of building "mindshare" with my sales and marketing efforts. If I ask you what company has a green gecko as their mascot, you'd tell me Geico. Why? Well, they have done a killer job of building mindshare with you. You may not be a customer of theirs or even in the market for insurance, but when you are in need of insurance, they want you to think of them. I'm taking the same approach with what I call the 1-2-1 punch. BJ: Great analogy. Let's dig into your 1-2-1 approach, specifically in regards to your agent recruitment.
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ShowingTime's MarketView Broker to Compete with BrokerMetrics, TrendGraphix and Collateral Analytics
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This Brokerage Does Onboarding the Right Way
Some brokerages just get it. They embrace change. They prepare; they future-proof their brokerage. And they totally rock agent onboarding. William Raveis is a shining example of just that.
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3 Ways to Get Top Talent to Join Your Team
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The Secret Broker CRM You Haven't Heard Of (Yet)
There are certain real estate tools that we subconsciously tend to associate only with one segment of our industry—a back office app that's aimed at small brokers, for example, or a vendor that provides websites primarily to agents. So it's a pleasant surprise when we discover that a solution that we thought was only for one group can also serve another. Today, we're looking at one such tool. IXACT Contact, a CRM highlighted in our 2017-18 Technology Guide, has historically been an agent-only solution. For years, the company's customers were real estate agents whose brokers either didn't provide a CRM, or didn't offer a CRM that the agent wanted to use. That's all changed, however. IXACT Contact now offers a brokerage version of their CRM that includes features like:
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The Ultimate Recruiting and Retention Strategy for Brokerages
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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.
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Recruitment Lessons from Obi-Wan Kenobi
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How to Recruit the Best Agents for Your Real Estate Firm
To be the best agency, you need the best agents. How do you recruit the best? It's definitely a challenge to find talent to join your team, and the industry is competitive. How do you stand out as the firm of choice for top agents to join? What benefits are agents looking for, and what are they looking for in terms of a firm? Here are some tips for real estate agent recruiting:
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How to Compete with Big Signing Bonuses
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3 Clear-as-Day Signs It's Time to Hire an Inside Sales Agent
If you've read Chris Smith's The Conversion Code, you may already know these two statistics: For every home that was sold in 2011, there were .65 leads generated online. For every home that was sold in 2014, nearly eight online leads were generated And if you've been paying attention to the number of new portals, lead gen sites, landing page offerings and the explosion of Facebook ads in the last three years, you know that those numbers have only continued to explode in the years since. Going strictly off the numbers, you have (less than ) a 1-in-8 chance of converting a lead you generate online. Are you really doing enough to win a lead's business from competing agents? The answer, likely, is no. And that's okay — because it's never too late to change a failing strategy and turn it into one that works better for you and your business. Inside Sales Agents: How real estate companies are turning cold calling on its head to build relationships with leads Cold calling is nothing new, but it does conjure up a negative image of someone in a headset, calling from hundreds of miles away to aggressively push a deal on an unsuspecting customer (whose name they invariably pronounce wrong). Within real estate, however, we're seeing an exciting shift in how cold calling can be used to shore up new business. Rather than hiring "dialers" who explicitly sell a product or service the minute a lead picks up, many real estate companies are leveraging "inside sales agents" (ISAs) to build relationships with new leads over time. And when the average lead can have eight (or more!) agents working them due to online lead generation, it pays off in spades to be the business that is eager to make a connection before asking for a sale. Here are three signs it may be time for you to hire an inside sales agent. Sign #1: You hate the follow-up (and it shows) Do you hate following up with new leads? The good news is you're not alone. Forty-four percent of salespeople give up after just one attempt (Scripted). The bad news? Eighty percent of sales are made on the fifth to twelfth attempt to contact a lead (Curaytor). If your first call is an aggressive attempt to win the deal, and you aren't willing to call back again, you are unlikely to get anywhere with unqualified, dime-a-dozen online leads.ISAs have the right tone and delivery, and because they're paid to build up relationships with leads, they are able to focus on naturally qualifying leads over time. Imagine the difference between talking to an eager professional who wants to get to know you better, and a Realtor who is clearly hoping for a quick buck on the first call. Who would you prefer to talk to? Sign #2: You're busy (really, really busy) with active clients Calling, texting and emailing new leads isn't easy. It's time-consuming and it creates a strange paradox: Knowledgeable, successful agents often have a harder time converting new leads than rookie agents with plenty of time on their hands. By hiring an ISA, you can spend time on your active clients and most-qualified leads while allowing a professional to build a relationship with brand-new prospects and leads who aren't quite ready to sign a contract yet. Sign #3: Lead conversion just isn't your thing Real estate is a unique profession that requires dozens of skillsets. A typical agent has to master everything from marketing and brand-building, to contract-writing and hard-line negotiations, to market statistics, to staging and interior design. Oh yeah, and then add in that small task of maintaining great relationships with everyone in your sphere and converting leads with the ease of a Fortune 500 company. Not every aspect of real estate can be "your thing." It's important to recognize your weak spots and outsource related tasks as soon as possible. If you simply can't or won't prioritize lead conversion, even though you're paying for new leads, then it's time to release yourself of that expectation before you burn through any more money. Inside sales agents can be extremely affordable and if you hire the right resource, your ISA might be pre-trained on best practices and pre-loaded with scripts so you don't have to spend weeks creating the right documents and onboarding processes. Starting on day one, a great ISA can do what they do best — qualifying and nurturing prospects and leads — and so can you. Ready for an ISA who converts predicted, nearby sellers? What if you narrowed your sights to predicted, qualified sellers in your area? With SmartZip Outreach, you can do just that. Our algorithms predict the homeowners most likely to sell in your area and our highly trained ISAs call to build a relationship and qualify their moving timeline. Meanwhile, you can focus on a short list of ready-to-sell homeowners waiting to hear from you. Reach out today to get a killer deal on SmartZip Outreach. To view the original article, visit the SmartZip blog.
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Three Hard Truths About Building Your Brokerage
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The Real Estate Recruiting Questions Checklist
Interviews are intimidating no matter how many you've gone through or how confident you are, but they all have the same end goal. The goal of interviews with prospective agents, specifically, is to understand their qualifications, personality, and general way of doing things in relation to your firm. In order to accomplish this, you often need to ask a comprehensive list of questions that will cover the basics – and then some! There is such a wide range of things to ask that we encourage brokers to be creative and ask unique questions that will get agents talking about who they are and what they're passionate about. While there's nothing wrong with the routine questions,(for example, "Why did you become a real estate agent?"), these sometimes generate rehearsed responses, which are of little value. Rehearsed responses make it challenging to determine if an agent's a good fit!
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3 must-ask questions when hiring an inside sales agent
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How to Use Social Media to Find New Agents
You already know that social media is a great place to promote your real estate business to clients, but did you know that it's also an excellent recruiting tool for finding talented new real estate agents to join your team? Real estate is a very social-friendly industry, and today most agents will have a presence on all of the major social sites. You can learn so much about a potential hire by visiting their social pages before an interview, and you can even use social sites like LinkedIn to recruit new agents directly. Now is the time to take a closer look at social media for real estate, and how it can be used to attract new talent for your real estate team.
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The Only Metrics That Matter to Your Brokerage
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Does Your Accounting and Commission System Help You to Retain Agents and Recruit New Agents?
There is a salesperson in the heart of every great real estate agent. They track their income year to date, look at their sales pipeline, and forecast sales and commission goals. For the most part, brokers who use many of the popular accounting systems do not offer a portal that allows agents to log in and see their performance. Newer technology systems for brokerage accounting are focused on giving agents actionable access to their financial performance. "Knowing your numbers" is at the core of every successful business plan execution. It's not about the plan, but the real numbers and the day-to-day changes that impact sales and profits. What are the steps to make it easy? We took a look at Brokersumo, a popular accounting solution for small to midsized brokerage firms. Its reporting function gives both you and your agents direct access to the pipeline of data, close rates, where the bulk of income is generated, and volume to date. Agents will be able to focus on where their best opportunities are, and you'll be able to quickly identify top performers. You'll get deeper insights to your agents and methods to incentivize them.
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Big Brokers Need to Stake Their Claim or Risk Annihilation
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The Top 3 Things Brokers Can Do to Rock 2017
I don't know about you, but I always get energized this time of year. The holidays are behind me, my year-end planning is done, and it's time to hit the ground running in 2017. If you're like me, you've probably identified some things you can start doing TODAY that will help you achieve your 2017 goals. I've identified three things I believe can have a huge impact for your real estate business in the new year. GO GLOBAL! You have heard me say this before, but real estate has become a global business. Global is the new local. Consider that over $100 billion was spent on real estate in the U.S. by foreign buyers, according to the NAR 2016 Profile of International Activity in U.S. Residential Real Estate survey. Furthermore, Americans are retiring abroad in record numbers. There is similar real estate migration happening all over the world, and multicultural buyers are prevalent just about everywhere in our country. All this points to the need to have a strategy and sales platform that allows you to connect to global agents and their buyers. If you are able to plug into the global network of agents, you will have a distinct advantage over your competitors that have not embraced the concept of a global, connected, real estate industry.
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Should Brokers Do REALTOR Background Checks?
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When is it Time to Hire Marketing Help for Your Real Estate Brand?
Real estate professionals are often skilled marketers in their own right, because promoting homes, closing deals, and managing client expectations all mirror the work that we do in the marketing world. But agents and brokers always have a ton on their plate, with a focus on the day-to-day demands of the industry. Sound like you? If so, hiring the right marketing team is a great way to lighten your load while also improving the return on your marketing investment. When you don't have to worry about marketing, you have that much more time to spend on your clients. Real estate marketing is our passion at Delta Media Group, and today we're going to look at some signs that it might be time to hire a marketing team for your real estate business. The Time Is Now: Grow Your Real Estate Business with the Right Marketing Team Not Enough Leads – Not enough new business coming in? It may be because you're not promoting your business in the right places, and to the right audience. A marketing pro understands how real estate customers shop for homes, and can help you build a presence in the places that matter most online. It's about increasing lead volume, but doing so in a sustainable way that also yields quality leads. Poor Quality Leads – Yes, you can purchase real estate leads by the bushel from some of the big-name listings sites. No, the return is not very likely to be worth the investment. If you're struggling with lead quality, a marketing pro can help you create opportunities to develop qualified leads through your website, content, social media, and email marketing. In today's competitive market, low-quality leads just don't cut it.
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Real Estate Recruiting and the Power of Belief
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The Value of Your Value Proposition
How do you recruit new agents? How do you keep the ones you've got? Just as agents need to prove their worth to their broker, brokers needs to prove their worth to the agents. Here are three ways to you can use back-office data to strengthen your value proposition: 1. Insight Show your agents how much money they've made this year compared to last. Email them their expense statements so there are no surprises. Show them how much money they can make by following your brokerage's standards. In doing so, you'll give your agents vital insight into how your brokerage fosters their success.
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How Deeper Market Insights Can Give You the Competitive Edge
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Recruiting and Retaining Younger Agents: 6 Tips for Success
Agents are on the hunt for greener pastures, according to the NAR. A full third of Realtors started at a new brokerage in 2015--up a whopping 67 percent from the previous year. So why are agents moving? It may have something to do with changing Realtor demographics. Just a few years ago, much talk revolved around the dangers of agents "aging out" of the industry with few younger agents available to replace them. In fact, recruiting younger agents was brokers' top concern in 2013, according to that year's Thought Leader Survey from Imprev. However, the average age of Realtors has decreased every year since 2013 as younger agents enter the industry. The amount of Millennials getting their real estate licenses has likewise increased. But this is a generation notoriously known for "job hopping." So what can brokers do to recruit and retain this group of agents? Here are a few tips that can help: 1. Use effective lead management systems - 'Closing more deals' or 'getting better leads' often tops the list of reasons that agents switch brokerages. When recruiting agents, talk about the lead generation systems you use and how you help agents nurture and convert those leads. What methods do you use--social media advertising, retargeting, search portal marketing, etc.--and how easy are they for agents to leverage? Be ready to offer hard numbers on how many leads can agents expect per month from your systems. 2. Talk lead quality - Quality of leads is arguably more important than quantity. No agent wants to waste time on leads that are unlikely to convert. So in addition to talking about what systems you use, talk about why. If you, say, advertise on realtor.com® instead zillow.com, tell potential recruits it's because realtor.com® leads are significantly more likely to convert than leads from other portals, according to PAA Research.
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CRM Tools Solve the Problem of Agent and Client Retention
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Brokers: How to Automate Just Listed Ads for Real Estate Agents
Agents want one less thing to do! Listing automation can help. Steven David Elliot, an extremely busy agent in North Carolina, has a process. Every time he lists a property, he implements a checklist to market the home. And digital ads are part of his list. "I tell my clients that I can advertise their homes on major sites like the Wall Street Journal and ESPN, as well as on Facebook. They love seeing their own home advertised as they browse the web." But there's a small problem: not enough time. "Getting a house ready to list is no easy task," he said. "I'd love the idea of automating my digital ads to take one more thing off my list!" Who can help agents like Steven to automate? Brokers! Already, many brokers have internal marketing centers with Just Listed/Just Sold postcards and newspaper ads. But very few have automated their digital tools as well. And digital is critical. 90% of home shoppers are researching online. And over 50% of our waking hours are spent on some kind of screen. What's more, today's home buyers and sellers want digital as part of their real estate shopping experience.
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How Much Does It Cost to Recruit an Agent?
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CRM Impact on Recruiting and Retaining Agents
WAV Group has deep experience supporting real estate brokers on the selection and adoption of Customer Relationship Management (CRM) for their agents. Sometimes the best business strategy is a simple one. All research points out that successful real estate agents have 500 or more legitimate prospects in their CRM and they actively communicate with those prospects with a customer for life philosophy. Bearing this in mind, a broker or manager can better understand customer value of agent recruiting and retention. If you have been in the industry a long time, you may know the story of Intero Real Estate in Silicon Valley. They worked with a company to build a CRM that became the cornerstone of their business. They used it to recruit like crazy from Alain Pinel and Coldwell Banker and became one of the largest brokerage firms in America under the leadership of Gino Belfari. Granted, having an agent CRM is a requirement for brokerages today, and Mr. Belfari and his partners built the business on far more than a piece of technology. But this is an iconic story that shows the representational value of implementing CRM successfully in a brokerage and the resulting value of how agents using CRM leads to customer development, customer retention, and long term success. Agent Experience Demographics Recently, we have begun to create three categories of agents: New Colonists, Old Colonists, and Native Loyalists. The New Colonists – Those who have been in real estate less than six years and at the brokerage less than six years. The Old Colonists – Those who have been in real estate more than six years, but who are relatively new to the brokerage. The Native Loyalists – Those who are well experienced in real estate with over seven years of experience and who have also been at the brokerage more than six years.
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How SEO Can Help Recruit New Agents
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The Best Kept Secrets for Agent Retention
There is nothing more devastating to a brokerage than losing a top performer. Many times these departures come as a total surprise that leaves the company scrambling to find ways to get them to change their mind and to stop more top producers following them out the door. So what can brokerages do to stop this painful bleeding that happens all too often? Here are a few suggestions that have proven to be successful. Ask for Anonymous Feedback We have worked with brokerages fielding surveys to get their agents' input for everything from the technologies offered, the quality of yard signs to the aesthetics of the office. Sometimes it's much easier for agents to voice their opinion via a survey instead of talking to you directly. These surveys have helped some of our clients uncover problem areas before they became too serious or led to a departure. They have found out what technologies are not working, troublesome relationships with office/sales managers, frustrating office situations, conflicts with other agents, etc. Heading off these problems before they become too troublesome can be the best way to keep them in the game with you.
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Sotto Voce: Broker Recruiting and Retention Lessons from the Streets of Brooklyn
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The Three-Pronged Plan for Successful Real Estate Recruiting
It's spring, houses are flying off the market and, as a broker, you're slammed for time. Between answering agent questions, overseeing the operations of the brokerage, and putting out unforeseen fires, you can barely breathe. And yet you still need to recruit agents. How are you going to reach that recruiting goal? What's your plan? I don't have time to create a plan, you may think. Or, even if I did, I don't have time to carry it out in all its different pieces. But what is the cost of being reactive versus proactive? You may gain time in the immediate term, but will you gain time in the long term? And more importantly, will you sign agents? I've worked with countless brokers to help them recruit and win agents without having it be at the cost of their sanity. And the number one thing I tell them is you have to have a strategic outreach process. Not a haphazard, loose list of agents and goals, but an intentional, relationship-building strategy. But where do I start? you're probably thinking. Or, What does this mean? Don't panic. Here's a three-pronged plan for successful real estate recruiting.
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53 Ways to Grow Your Real Estate Team
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5 Email Templates to Recruit Top Real Estate Agents
Brokers, we've got something for you. Back in late winter, Contactually spoke with 120 top-tier brokers to learn what their priorities were for 2016. No surprise, 96% of them told us that recruiting was one of their top two priorities. Of that 96%, an overwhelming majority identified recruiting as an evergreen focus – in other words, a topic they were constantly dedicating time to, regardless of the age of the brokerage or time of year. Why is this the case? Apart from the annual agent turnover rate, which necessitates near constant recruiting in order to have a full roster, recruiting serves as a focal point because it's one of two principal levers for growing the business. (The other, in case you're curious, is to improve the productivity of existing agents.) How can you send the right messages to keep recruiting real estate agents that you want to attract? Simply put, the more agents a brokerage has on its roster, the more chances it has to bring in revenue. But it's important, too, to have the right mix of agents. Your recruiting efforts will have gone to waste if your roster doesn't stimulate the growth you want.
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Retention Strategies for Real Estate Brokers
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Are You Sure You’re Hiring the Right Personality?
Every broker dreams of owning a successful real estate brokerage. As the business grows, it's important to hire additional staff. To make any business a success, it's important to hire the right kind of people. But the next question that arises is, what is the 'right kind'? Human resource departments from companies around the world are using a personality test to determine the BEST fitting employee for a job posting. The National Association of Realtors (NAR) in an article stated how a broker can use DiSC for identifying personality types that best fit within the brokerage. Not everyone is cut out for a job at a brokerage. Even people who have the right skills may not possess the personality to do great. Brokers generally seek people with great social skills, an aptitude in finance and great judgement in the people they hire. What if you knew before hiring which agent would be a success and bring in the highest sales? Wouldn't that be great? That is precisely why brokerages are using personality tests like DiSC profile to know who to hire.
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How Lazy Brokers Lose Great Agents
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Who Should I Recruit and How?
Tracking commissions on transactions and entering other broker information is part of the bookkeeping function that your staff is performing for you. But have you ever thought about the way that information can be used by you in guiding your recruiting activities? We all have a checklist of steps to perform when completing a sale file. Most of these center on the need to perform compliance steps to ensure that your files meet legal requirements. But that checklist can include other steps to assist you in reaching out to other agents that your office deals with. Thank you letters can be pre-configured to print from your system, personally addressed to the other agent on your transaction. As part of your staff's closing process, the thank you is a point of contact with the other agent. Another letter that could be produced is simply an outside agent notice that you or your recruiter would receive on each closing involving an outside agent. This notice would serve as a reminder to you to make a phone call and congratulate the other agent on the sale they completed with your office. Which leads to the next report. Agents who consistently do transactions with your agents are prime candidates for recruitment.  Brokers who are successful at recruiting run another broker activity report which notifies them which agents from other offices are regularly listing in their offices. It also can tell which agents from outside offices have lots of listings that your agents are selling. Making that recruiting phone call and having talking points about the agent themselves instead of just you is a great way to keep them engaged and on the line.
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3 Expert Tips on How to Build a Successful Real Estate Team
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Friday Freebie: How to Attract and Keep Top Agents
Recruiting and retaining high performing agents is kind of like dating, according to a new guide from Lone Wolf Real Estate Technologies. It's a sentiment that rings true when you think about it. You start by identifying the traits of the ideal person you want to attract. Once you find them, you turn on the charm and try to convince them to 'go steady' with your firm. Part of successful recruiting is making your brokerage as attractive as possible. Like dating, some of this involves looking your best (having appealing branding and a strong reputation). It also involves showing that you care for your intended and that you support their personal growth (via technology and training opportunities). Free Guide: The Real Estate Dating Game Lone Wolf breaks down the recruitment 'dating game' into four stages: Set Standards - What qualities does your ideal agent possess? Attention to detail, being driven, and having high 'emotional intelligence' are some of the traits the guide suggests. The Initial Attraction - Culture, branding, compensation, and technology provided are all things agents will judge your company on. Keep the Spark - Once an agent joins your firm, how do you keep the relationship healthy? Engagement - A long-term commitment means 'showing up' for the other in terms of providing support and of continuously nurturing your connection. For more detailed tips and advice on winning the recruiting dating game, download your copy of the guide now!
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Maybe the Grass is Greener? Agents Switching Firms More Frequently for a Better Deal
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The Technology that Can Boost Agent Adoption of Your Existing Tools
Most brokers are familiar with the challenge of getting agents to adopt technology. Often, agents are hesitant to try a new tool unless they're certain that the learning curve is low or that it will save them significant time or bring in substantially more business once learned. Today, we're going to look at a technology that can actually help increase agent adoption of your existing marketing tools and boost the marketing activities of your agents. Doubling Adoption RE/MAX agents have been using the franchise's Design Center for years. The platform, powered by Imprev, allows agents to create collateral like flyers, postcards, virtual tours, and more quickly and easily. Last spring, RE/MAX of Michigan expanded the capabilities of the design center by adding automation--becoming the first RE/MAX Region to do so. The addition of automation meant that a complete marketing campaign for every listing was created automatically from listing data and then published, relieving agents from having to create and distribute this collateral themselves. The company initially envisioned the addition of automation as a great recruiting tool. However, they worried that automation would be too "hands-off" and drive down adoption of their Design Center. Though the platform's adoption rate was fairly high already, RE/MAX of Michigan still wanted more people to leverage the Design Center, since they were paying for all agents to use it. Rather than reducing use of the Design Center, however, just the opposite happened--usage nearly doubled!
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Who Do You Want on Your Team in 2016?
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Building a Team for Your Real Estate Practice
  Need to expand your real estate team but don't know where to find the right people? Bob Corcoran, founder of Corcoran Consulting and Coaching, offers recruiting advice in this new video. Corcoran says the following are the key ways to recruit folks for your real estate team: Go to the vendors you work with and ask them. This will include title companies, home inspectors and lenders. Clearly define what you are looking for: broker agent, buyer agent, support staff, etc. Get the word out consistently. One great place to recruit real estate professionals is by contacting real estate schools. "You are never going to succeed in recruiting unless you make it a priority," says Corcoran. "Assign someone in your office whose key responsibility is recruiting, so your team is held accountable."
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Agent Recruitment: How to Spot a Gem
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5 Best Ways To Retain Top Talent at Your Brokerage
A main concern for brokerages is how they retain top talent. Through market challenges and trying to keep up with the changes in the industry, we definitely understand how this is a concern. Having top talent at your brokerage means that there's an even bigger opportunity to grow and succeed. After understanding this challenge, we've researched the 5 best ways to retain this top talent at your brokerage. Here are the 5 Best Ways to Retain Top Talent at Your Brokerage...   1. Training Our company is hiring, and that means we also need to figure out the best onboarding plan for our new hires. I did some research into what new hires want most in the beginning. They want to spend the most time with their managers and training. This doesn't exactly paint the same picture for brokerages, but it aligns with the basics of onboarding and training. Realtors operate very independently, but often times they will look back to the brokerage for best practices and training on the proper processes. It's a two way street and providing training can ultimately provide growth for both. Training shouldn't just stop at business procedures, it should include the best tools Realtors can use, how they can obtain the most qualified leads, and how they can better their overall practice through various initiatives. For example, you can hold a training session on how your Realtors can use social media to optimize their own personal brand and how they can showcase the sellers they are working with.
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Online Marketing is for Sellers, Recruiting, and Retention
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The Right Recruitment Strategy for Long-term Success
When recruiting for your firm, you have to carefully balance making a compelling argument without beating your chest and trying to convince new real estate agents that you are "the best." 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. Rapid growth for your firm does not come from offering better splits and other incentives. This strategy can create divisions within your organization due to the discrepancies in deals each person receives. It can also create a rate war with local competitors, which then becomes a race to the bottom. 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. 1. Eliminate the Mystery Before taking on a new job, everyone wonders what it's really going to be like to work there. Indeed, no one wants to jump into a lake without knowing how deep it is. This is why one of the most valuable things you can do, from a recruitment perspective, is to show new recruits exactly what they can expect at your firm. Invite potential new agents to attend a sales meeting at the office so they can experience the atmosphere first-hand. While you're at it, invite them to your company's training sessions, too. Finally, allow outsiders to attend your broker education programs and seminars.
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How to Keep Your Team Happy
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Three Requirements for Recruiting Millennial Agents
As a generation expected to surpass the number of baby boomers in the U.S., millennials are a target audience for businesses and advertisers. Because they're known for being career-driven, educated, and progressive individuals, millennials are clearly making their dent in the workforce. A key part of the Millennial generation is their dedication to brand loyalty. In fact, 60% said they're loyal to their current brands. What this means for brokerages is the sooner you can develop a relationship with this age group, the more likely they'll stick with you. When it comes to real estate, millennials are hard-working and willing to go the extra mile to help build your company. Millennial buyers also are more likely to work with millennial agents, giving them an edge as more younger buyers are making their way into the market. Here are three ways to entice more millennial agents to work for your brokerage. Market yourself to millennials Create a company image that attracts millennials. Make sure your website is fresh and up-to-date and incorporates social sharing widgets. When it comes to blogging, millennials need to trust the company before they're willing to turn to the resource. According to Forbes Business, 43% of millennials value authenticity over content. Finally, millennials are known as the social media generation. Your social media presence is of high priority to millennials. In fact, 62% of millennials claimed they would become a loyal customer if a brand engaged with them on social media. It's also important to show these younger agents that you are focused on their generation. If you already have millennial agents on your team, highlight their accomplishments. Blog and social media posts on sites like Facebook and Instagram are great ways to show the inner workings of these individuals in your company. It also ties back to building the authenticity of your brand. If millennials can see others their own age succeeding in your company, they'll be more inclined to consider working with you.
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Lure Big Fish to Your Brokerage
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What Recruiters Can Learn from Marketers
The most successful companies offer value to their potential clients when they need it. Brokers looking to recruit can use the same tactic. Don't you hate getting unsolicited e-mails? It's bad enough that you didn't subscribe, but then they try to sell you something. I always find myself wondering who the heck actually takes these guys up on their offers. Do people actually buy business products and services from spam e-mails? They must, otherwise I wouldn't be getting so much of it. Research shows the average e-mail marketing campaign enjoys roughly a 2 percent click-through conversion rate. Sounds terrible, but when you have a list in the tens or hundreds of thousands, every e-mail blast—even at those low rates— can be profitable. It's the law of averages: Send out your message enough and eventually someone will buy. But as consumers get increasingly smarter about identifying, ignoring, or taking action against unsolicited senders, marketers are getting smarter about finding ways to get people to actually opt in to their e-mails­—and they're enjoying better results than the law of averages can provide. While reading about this trend, my mind turned to brokers and recruitment. These businesses are casting wide nets to catch a few fish. Could there be a lesson for brokers here?
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Step One on the New Organizational Journey Is the Talent Search
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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. When we look at operational effectiveness in a brokerage, we look at things like brand, leadership, and culture. Brand is measured by the opinion of agents and customers. Leadership is measured by the popularity of executives among staff, managers, and agents. Culture is the happiness measurement of executives, staff, managers, and agents. The common goal of building strong brands, leaders, and culture is accomplished over time. These are things that are developed through trust. Are we overly concerned about getting people in the door to the detriment of the people already amongst us? Sometimes brokers are. Is the brokerage more concerned with lead generation than customer for life? Is the brokerage more concerned with recruiting new agents rather than completing the process of developing a successful agent who loves their company?
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Having a Technologically Integrated Brokerage is Crucial to Recruiting Top Agents
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Best Practice: Agents Switching Brokers
I was sitting in a broker's office having a casual meeting. Her office manager sent her a text to ask if he could interrupt. One of the top agents in the office who creates more strife than good was threatening to leave—again. She politely excused herself for a minute and returned a few minutes later. She shared the story with me and I asked her what she did. Her statement was succinct and I shall never forget it. She said, "I shook the agent's hand and told her, 'Thank you for the pleasure of working with you, we are going to miss you.'" The truth is, agents come and go every day in brokerages. If you are successful, more are coming in the door than going out. Great brokers compete on value and relationship rather than commission splits. It is important to have an onboarding checklist when new agents arrive. Aside from the administrative stuff that you should have ready to send via DocuSign, Instanet, or whatever document-and-signature solution you use. You should have a well composed set of materials on the broker services and a schedule for the agent to become acquainted and trained on each of them. Most of all, you should review that material in detail at least once a year. Think of it as part of your 2015 game plan for offence and defense. (Sorry, as I write this, it is Super Bowl Sunday!) WAV Group performs analysis services for brokers. We interview people who have recently left the company along with people who have recently joined the company. We have a way with asking questions that get to the heart of the matter. Heart is what it is usually about. People act on emotion and justify their actions with logic.
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Recruit Your Best Team in 2015
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3 Ways Portals Help You Hire (and Retain) Top Agents
Recruiting top agents is a competitive venture, and any worthwhile prospects will pepper you with questions before deciding if your brokerage is right for them. Besides queries about commission splits, franchise fees, and training, expect to be asked how your company helps agents market their listings. To help you in that conversation, today we're going to break down how each of the three major property search portals helps you grow your brand with agents. It's a continuation of an ongoing series that evaluates the features and benefits of the top portals (see part one and part two). Here's the criteria we'll be using today: Placement of listing agent attribution on the property details page Listing agent identification and contact information on the lead form Sold listings on agent profiles 1. Placement of Listing Agent Attribution How prominent is the listing agent's information on the property details page? Ideally, this data should be "above the fold," which means that it's visible without having to scroll down. This placement puts the agent and their brand (as well as yours) front-and-center. When it comes to placement, however, each of the three portals takes a different approach. Trulia is the only one that offers above-the-fold placement. They place attribution right below the property description so that it's easy for consumers to spot. They also link the brokerage's name to the listing syndication source (broker website, ListHub, Diverse Solutions, etc.), but offer no phone number. Realtor.com displays attribution in the middle of the page, but features the brokerage phone number and a direct link to the agent's Realtor.com profile. Zillow places attribution at the bottom of the page with a phone number for featured listings and a link to the syndication source. Trulia - Immediately beneath property description Zillow - Bottom of the page realtor.com® - Halfway down the page
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Does your real estate recruiting effectively attract multicultural agents?
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Leveraging Virtual Office Websites as a Recruitment Tool
Last month, we talked about how brokers can use Virtual Office Websites (VOW) as a tool to compete with portals. Today, we're going to continue that line of thought by focusing on how brokerages can leverage VOWs to compete with other firms for top agents. VOW as Differentiator One of the primary reasons that agents don't use broker tools is because they think that it's only important that they have access to the MLS. In this sense, the MLS puts every agent in a marketplace on equal footing. MLS data looks the same to every agent in an area and doesn't hand individual Realtors a way to make themselves stand out. Consumers, on the other hand, are awash in a sea of IDX websites and property search portals that offer only limited information. When they use broker VOWs, they recognize that these sites are giving them access to the "good stuff" -- MLS property data like days-on-market, price changes over time, sold data and more that's not allowed on IDX sites. VOW solutions give consumers the same search power they would have if they were sitting in the office with an agent, but it enables them to do that work on their own, if they so choose. "It puts your client in the driver's seat," is how VOW provider Quantum Leads describes the benefits of Virtual Office Websites. This "driving power" creates a more educated consumer--sellers know what comparable homes have sold for in their area, and buyers are better equipped to write realistic offers from the get-go. And once consumers have found a superior source of data, few will want to return to the limited information that other sites offer. This access to better data enhances the consumer's relationship with both the agent and broker.
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4 Tips for Building a Real Estate Dream Team: Recruiting
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Recruiting for tomorrow, not today
It's been a while since we talked about recruiting. Recently, on a run through my brother's neighborhood in Brooklyn, I came across something that really jumped out at me. My brother is an artist and lives in a really cool, hip, up-and-coming neighborhood full of young professionals and artists. Real estate is going through the roof due to its proximity to Manhattan. As I made my way back to his brownstone, I saw a sign for a real estate company. I had never heard of them—plus the name was catchy, so naturally, I was curious. It was next to a coffee shop but I could not find the entrance to the actual real estate company so I walked into the the coffee shop. Much to my very pleasant surprise, there was a big opening at the back of the coffee shop that flowed into one of the coolest real estate offices I have ever seen.
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How Technology Can Save Recruiting
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3 Powerful Lead Generating Strategies for Recruiting Professionals in Your Field
Thinking about growing your real estate team? We've looked at three of the best sources for real estate agents who might want to join you — and we're sharing with you not only where to look, but also how to connect through email. 1. Fellow Agents The people we most encounter time and again in real estate business are a dependable group of contacts to connect with on your next steps. You've worked with them, closed deals with them, become friends with them at conferences. They might be one of the strongest pools of contacts to reach out to with email, since they already affiliate so many positive experiences with you and you have built good rapport. The one catch: it will be tough to hard-sell salespeople. They can see right through you. And, since they already know you, a poor approach could damage your relationship. Instead, by letting them know what you're doing and asking for their help and insight, you can further strengthen your friendship. Not only will it build trust by being transparent and allowing them to have a voice, if they are looking to change their business, they might want to work with you. This group of people deserves a lot of respect. Treating them accordingly make a big impact on your business long-term, even if they don't join your team.
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Email Marketing: Fight Spam, Retain Your Agents, Attract New Ones
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Can You Identify Management Talent?
It is perhaps unfortunate that at this point in time, our industry doesn't know as much as it should know about the immediate and near term future of its business. A significant part of these circumstances can be traced to the fact that, by and large, significant sectors within the industry have decided not to be proactive, but rather responsive, with respect to changing times. Accordingly, the master plan of our tomorrow lies in the hands of individuals and entities that are external to our traditional culture. We are witnessing the ramifications of this phenomenon every day. However, even from this limiting perspective, we are being informed regarding the wide range of trends, directions and factors that will shape the residential real estate industry moving forward. By way of example, we know that virtually every other industry in the American economy has either been forced into or has elected to adopt standards, accountability, and transparency, and, further, that the initial focus of these factors has and will continue to be consumer satisfaction. This we know. We should have a fairly good idea from our growing interaction with industry infrastructure and Wall Street investors that the importance of profitability and return on investment will dramatically increase. Finally, based upon the current activities of the Consumer Financial Protection Bureau (CFPB) regarding e-closings, we should consider that this factor will converge with consumer demands and technological forces to require us to automate our transaction processes. These matters we really should consider declaring that we know.
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Recruiting: Build It and They Will Come.
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Recruiting: Finding and KEEPING Quality Agents
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: Company's image/name recognition Broker's ethics Company's/broker's business philosophy Size of firm/market presence Management Compensation plan Marketing services/lead generation Technological support services Transaction management
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