This article, based on a webinar from industry experts Val Burmester, Sean Soderstrom, and Chris Camp, provides a proven playbook for agent recruiting that goes beyond the basics. Watch the full webinar here.
[Webinar was held in June 2024]
Understanding the Landscape: Why Recruiting Matters Now
The real estate market is in a state of flux, and data shows that agents are on the move. Recent analysis reveals a significant increase in productive agents, especially top producers, switching brokerages. This presents a massive opportunity for brokerages that are prepared to recruit. While top producers are a key target, the largest revenue opportunity lies in the middle market, with agents in the $1 to $5 million sales volume range.
To be successful, you must focus your recruiting efforts and understand that different agents require different approaches.
Know Your Segments: The "Big Whale" vs. the Mid-Range Agent
Recruiting shouldn't be a one-size-fits-all process. The strategy you use depends on the agent's level of production and what they're looking for.
The "Big Whale" (Top Producers): These agents have their own systems and teams, and they're not easily swayed. Recruiting them is a long-term process, sometimes taking up to five years. The initial outreach should be low-pressure: focus on building a relationship. The conversation should be less about what you can give them and more about uncovering their unique needs, such as marketing support, referral networks, or help with their team structure.
The Mid-Range Agent (e.g., $5-$15M): This is often the sweet spot for recruitment. These agents are in a place where they're looking to grow and elevate their business. They may feel they've hit a ceiling at their current brokerage and are more open to new opportunities. The key is to show them how your company can help them reach the next level.
Mastering the Outreach: Phone Calls and Personalization
In a world of automated texts and generic emails, a personal phone call is your most powerful tool. It shows integrity and professionalism.
Make the Phone Call: Always make a phone call instead of sending a text or email. You wouldn't use a generic text to find a client, so don't do it with a potential recruit. If they don't answer, leave a brief, intriguing voicemail. A polite agent should return your call. If they don't, it’s a good red flag that they may not be the right fit for your company culture.
Research, research, research: Before you call, do your homework. Look up the agent's recent activity, their social media, and if they've had any recent co-brokes with your office. This allows you to start the conversation with a personalized compliment or a question that shows you've paid attention. For example, "I saw you did 19 listings last year – that's impressive! What are you doing right?"
Uncover Their Needs: Once you have them on the phone, the goal is to get to a face-to-face meeting. Use the call to discover their pain points. Ask questions like, "What do you love about your current brokerage?" The first things they mention – "I love my manager," or "I love the support" are your biggest hurdles. This gives you a clear understanding of what you need to prove in the meeting.
The Onboarding Process: Making the Transition Seamless
Change is a major hurdle for agents. They worry about the disruption to their business and losing momentum. A solid pre-onboarding process is critical to reassure them and prevent last-minute cancellations.
Show Them You're Ready: Once an agent verbally commits, start the pre-onboarding process immediately. Get their photos, social media information, and other materials you'll need to prepare their marketing and business cards. Show them that you have a plan in place to make their transition smooth.
Designate a Point Person: Even if you have multiple people involved in recruiting and onboarding, assign a single point of accountability. The agent should know exactly who to call if they have questions or an issue arises. This prevents them from feeling like they're getting bounced around.
Leverage Internal Champions: Introduce the potential recruit to other agents in your office who are similar to them and have had a great onboarding experience. This can be a powerful way to build confidence and help them see themselves as part of your team.
Use a Formal Offer: Once an agent accepts your offer, use a tool like a digital contract to get their formal acceptance before you spend money on their behalf. This helps protect your investment.
Additional Best Practices
Create a Village: Recruiting shouldn't be one person's job. Involve everyone, from managers to other agents and even marketing and admin staff. Have weekly meetings to recap progress and discuss upcoming appointments. When everyone is invested, the success of your recruiting efforts increases exponentially.
Strategize Meeting Locations: Choose a meeting place that is private and convenient for the agent. Avoid busy coffee shops or locations too close to your or their current office. A quiet, neutral location demonstrates professionalism and discretion.
Set Clear Expectations: If you are managing recruiters, establish a clear SLA for how quickly they should follow up on leads. Also, set clear expectations for how many calls a recruiter should make each week. Even a small number of consistent, daily calls can lead to significant recruiting results over time.