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Quality recruiting and retention are still the #1 issues facing most real
estate firms, and competition is heating up as traditional brokerages,
web-based real estate companies and 100% concepts all vie for the
attention of the declining new and experienced pool of associates.
If you're not getting your share of the pie, contributing factors
may lie in not addressing the potential obstacles to recruiting from
your own sales associates, from your management team and from
competitors' associates. Most of us have been taught to
"think positive" and hope the negatives will disappear.
Unfortunately, statistics tell us we're still losing at least as many
associates as we recruit each year, and while invisible, the obstacles
haven't disappeared.
Turn your negatives into positives! By being aware of the
objections you may face in your recruiting efforts, you will be better
able to manage the end result. Recruiting and retention require an
all out awareness and effort from everyone in your company. The
object is to address the issues, achieve resolution and create an
overall atmosphere that welcomes new associates and retains current
associates.
The following are some of the key obstacles you may encounter with tips
on how to approach and overcome them:
OBSTACLES FROM YOUR ASSOCIATES:
1. Opposition to new competition…"fear
of unknown"
**Eliminate the unknown…educate your sales associates on why it's to
their benefit to participate in recruiting.
**More quality associates means:
~Increased listing inventory and more listings to
sell current buyer prospects
~More
"floor time" prospect calls from signs
~Increased market share…making it easier to obtain new listings
~Increased synergism and the ability for everyone to earn more $$
~Good associates will be in the business anyway…why have them as
competitors
**Review your selection process with associates…testing devices,
company standards and multiple interviews, so your current associates
understand you select the best possible candidates
**Make it financially advantageous…provide a Recruiting
Advantage Program that pays 5% to 10% of Co. $ to sales associates for a
specified length of time or for as long as associate is with the company
full time
**Involve associates in the process…Devote one or more sales meetings a
year to brainstorming how to recruit good associates to your office and
develop a list of those ideas for them to carry with them
2. Have to split pie more ways…not enough relocation/company leads
**Good time to have a sales meeting and review written criteria for
servicing relocation/company leads…referral fees, relocation training,
corporate expectations…and do an example of their commission split
with and without referral fees to show benefits of creating their own
business
~Assist associates in creating a Business Development Plan…associates
need a written marketing plan utilizing the various ways to increase
their business without paying referral fees…personal promotion, direct
mail, web page(s), "floor" time, farming, COI's, etc.
~Make it Easy as pie…have good advertising and marketing support
systems to encourage associates to promote themselves
3. Less individual attention
**An ounce of prevention is worth a pound of cure…Eliminate this issue
by being accessible and have an open door policy on a daily basis…do
paperwork early in the morning or after normal working hours…MBWA
~Plan one-on-one meetings…Meet with each associate at the beginning of
the year to review written personal and professional goals and review at
intervals during the year
~Turn your time upside down…Spend 80% of your time with the top
quartile…not the bottom quartile
~Have branch and company recognition and award programs in place
4. Too crowded already…resistance to shared desks
**Provide work-from-home compensation plans…more commission, less
services and support
**Provide professional services and support for those who choose to work
in the office:
~Competent, adequate staff
~Fully functioning machines and equipment
~Advice, counseling and training in selection and use of technology
~Support Services…easy-to-order marketing materials…direct deposit
checking…lap top leasing program…agent advance program…agent
charge back system…multi-level technology training…personal
assistant pool…latest software, etc.
~Accurate and accessible company policies and procedures
~Associate Business Development Plan
5. Breaks up "family atmosphere"
**Create enough "get togethers" during the year…company
picnic, yearly awards banquet, company trip, pizza nights, periodic
breakfast sales meetings, associate recognition programs…so everyone
feels part of the team
OBSTACLES FROM EXPERIENCED ASSOCIATES YOU
WANT TO RECRUIT:
1. "Fear of Unknown" - May not "fit in" to your
culture
**Let them sell themselves…good time to engage in a discussion of why
they would consider changing companies…acknowledge the difficulty in
any major change and stress the positives that outweigh the change
itself…use personal examples
~Meet with potential experienced recruits many times, in a variety of
circumstances, to build a comfort level…very high touch
~Involve associates from your office and senior management in the
interviewing process, whenever possible, so associate can begin to feel
part of your "family"
~Provide written information about benefits, policies or anything that
they feel is important…they'll forget what you say after they've
left…so be sure important highlights are in written form
~Sing from the same song sheet…a Company Recruiting Presentation keeps
you, and anyone else involved in the recruiting process, from forgetting
important points
2. Loyalty to present broker
**NEVER, NEVER disparage or berate a competitor, no matter what bad news
you know about them…it puts the associate in a position of having to
defend their company and makes it almost impossible to get them
refocused on joining your team
~Let recruit know you admire loyalty, and that's why you want them on
your team
~Use statistical data to move their thinking from the emotional to the
logical side…market share, per associate productivity or office
productivity to emphasize benefits of being with your company
~If your company rewards loyalty in any way, state what form those
rewards take…company trips, lack of commission rollbacks after X
number of years, etc.
~Introduce them to productive, professional associates who have been with
your firm long term and who will speak positively about your company
3. Friendships within their office
**Suggest that they may have influence in bringing some of their
"friends" with them and offer to meet with one or more in a
confidential setting…involve owner and/or senior management so that
decisions can be made on the spot regarding transition issues…you may
not get another chance
**Explain how Recruiting Advantage Program can earn $$ for them during
this process and how transition packages can assist in creating a smooth
move for their "friends"
4. Loss of recognition and status
**Paint the picture…Review transition marketing efforts your company
will pay for…press announcements, direct mail and announcement cards
to COI's and farm areas, marketing $$, special promotions, bonuses,
assistance with moving and setting up their office files, etc.
**Consideration for past sales volume to be used to
establish commission levels and entry into Company Clubs and Award
Programs
**Review company's ongoing recognition programs, awards,
special trips
5. $$$ - commission split
**Don't be caught blindsided…Know your competition…review your
competitors' commission plans and benefits versus your own, so you can
speak knowledgeably and highlight the positives of your company/office
**Have a written Experienced Associate Transition Package
with commission plan options and bonuses/incentives ready to share at
the appropriate time in the interviewing process…it should contain all
the details of how you will make the transition to your company smoother
**Review market share data and associate productivity numbers if they are
favorable to your company to show associate how they can increase
productivity and earn more $$ with your firm
6. Reluctance to leave their listing
inventory behind
**Provide method (s) of compensating for listings left behind in your
Experienced Associate Transition Package; i.e.,
~Reimburse commissions left behind if properties sell within the initial
term period…get a list of properties and potential commissions due in
advance to determine potential liability…this will also affect what
else you may or may not offer in your initial package to potential
recruit u Reimburse a flat $$ amount or % for each listing left
behind…example - $500 or 33% of potential associate listing commission
~Secure listings for your firm from previous broker by offering to give
broker the Co. $ on each of these listings if they sell, and you pay
ongoing marketing costs
~Offer an up front bonus in lieu of the listings; i.e., 100% of
commissions on first two settlements with the company
7. Bad Market…too scared to move now - Good Market…too busy to leave
now
**Bad Market - best time to leave…not a lot of business on the books
**Good Market - Take some of the risk out of the transition with a good
Experienced Associate Transition Package
OBSTACLES FROM YOUR BRANCH MANAGERS:
1. No specific, written recruiting plan
2. No accountability from
Senior Management
3. Believe recruiting is not
their function
4. Prefer passive vs. active recruiting
(come-to-me attitude)
**The above four can be addressed by having specific, written recruiting
goals, a recruiting plan of action, and monthly tracking reports…all
followed up by senior management in weekly accountability meetings…or
have Management Masters provide temporary or ongoing Manager (s)
Accountability and Coaching Sessions
**Tie branch manager (s) compensation into recruiting and
retention results
**Repetition of recruiting activities and accountability are keys to
success with recruiting…just as listing activities and accountability
are keys to associates' success
5. "Fear of Rejection"…if I don't
try, I won't get a NO
**Recruiting can be learned…have newer managers "shadow"
good recruiting managers and sit in on their recruiting interviews
**Role play recruiting interviews between managers and
have one or more managers at a time put on a mock interview during
managers' meetings until all manager (s) have done it at least
once…the preparation alone will enhance their skill level
**Video the role-playing and critique with honest feedback
6. Fear negative reaction of existing sales
associates
**Same as Item I…associates need to be educated in how quality
associates joining their office benefit everyone
7. Too busy fire fighting daily problems
**Use time wisely…make recruiting phone calls, set appointments, write
follow up notes, and direct mail early in the morning or evening when
the office is quiet and people are more likely to be home
**Devote no less than 1-1/2 hours per day to recruiting
activities
**Larger companies might consider hiring a Recruiting Czar to organize
and spearhead recruiting activities or hire Management Masters to
organize the overall process and systems
8. Poor attitude towards company…their
compensation package, policies,
management, etc.
**Senior management has to be on the lookout for these types of
problems…they aren't difficult to spot…they must be discussed and
resolved one way or the other…they only get worse, not better
9. New people mean more people to train
**Good new agent and advanced agent training, as well as multi-level
technology training should be available through company trainers
**An experienced sales associate using a well compensated,
written Associate Mentoring Program can provide on-the-job training and
free up the manager's time
Be over prepared and organized in your recruiting
efforts…"seat-of-the-pants managers may recruit…but they don't
keep good associates over the long term…because that's how they run
their offices too!" |
