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Recruit Today - Profit Tomorrow

In order to find profit in your brokerage in 2010, you will need to recruit.  By now, you’ve probably cut the expenses about as far as you can because the last two years in this industry has forced that for most everyone. If you cut any further, the viability of your firm may waiver.

If you own, or manage, a brokerage that needs to find profit in 2010 and can’t cut expenses any further, what do you do?  Thankfully, the answer to that is quite simple; however, finding the time, learning the best ways to do it and then mustering the discipline to do it, isn’t.  The answer is, and this is nothing new, to finding profit this year is to recruit experienced agents. 

You can potentially bring in an additional $125,000 of revenue, this year alone, by simply recruiting five producing real estate agents.  Yes, it’s true, only five.   And because it would be expected for those agents business to grow under your tutelage you can potentially see $375,000 added to your bottom line, by those same five agents, in just three years!  Wow, who knew?

 Have you ever taken the time to truly figure out what it would mean to your bottom line if you recruit? Most, I daresay, haven’t.  The pressure to recruit agents is part of everyday

Read the rest of the article at http://rismedia.com/2010-03-17/recruit-today-profit-tomorrow/

Published in RIS Media March 18, 2010

Recruiting Dynamics of 2010

In my everyday dealings with real estate brokers, there are some common dynamics that I am hearing about, in regards to recruiting in 2010.   Maybe they are unique to this market time and maybe they are a remodel of the same challenges that you have always dealt with.  Here’s what I found, you decide if they are new or just a different version of why recruiting can be tough:

1. Reaching the agent who you are trying to recruit seems harder than ever.   It feels like you’ve tried it all: a couple of emails, one or two voice mails, an attempt  to start a conversation when you saw her last week on tour and yet, she is not responding.

You would really like to have her on board; you know the value you have to offer her and can’t figure out how to get a hold of her.  You heard through “a friend of a friend in the business” that she is overwhelmed with spam email about recruiting, not from you but from all parties in the marketplace and is almost feeling stalked by local brokers.    How do you differentiate yourself to get through?

Your job as a managing broker is more demanding now than it has been in the 25 years since you started doing this. Whew!  You are working harder, with less staff and need more to happen than what you have time for.  2010 is a critical year for finding some profit in that frustrating P&L report that appears every month.

Read the rest of the article at http://rismedia.com/2010-02-16/recruiting-dynamics-of-2010/

Published in RIS Media Daily Advisor on February 17, 2010