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

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

1. Create a strong value proposition that you, and your team, can confidently tell other s about.

• What is unique about your brokerage?
• How will an experienced real estate professional benefit by joining your firm?
• What are your key retention tools?  Are you talking about them?  Is it technology, market share, coaching support?  Why do people join your firm and why do they stay?

 This can be a painstaking process to try and put into words and yet it is worth it. Sometimes, brokers/owners don’t have the patience to put a company’s value proposition into words.  Discipline yourself to make the time; ask for help from those around you. Ask your current agent population the questions above.  Come up with something that will get the attention of your target recruits.

 Read the rest of the article at http://rismedia.com/2010-01-12/top-recruiting-strategies-for-2010/

Published in RIS Media Daily Advisor, January 13, 2010

It is proven that there is no better way to capture momentum for your real estate firm than bringing on seasoned and successful real estate professionals.  You know that recruiting desirable experienced agents will, at the least:

• ·         Create a buzz in the marketplace
• ·         Increase your market share dominance
• ·         Help attract other targeted agents
• ·         Offer you a pr opportunity
• ·         Allow your bottom line results to improve

Read the rest of the article at http://rismedia.com/2009-12-01/increase-your-gci-and-impact-your-bottom-line/#more-42299#ixzz0bJ5o61FG

Published in RIS Media Daily Advisor, December 2nd, 2009

To successfully recruit experienced agents, a broker must first have a goal in mind then develop a plan and execute that plan daily. Assuming the broker has a solid value proposition (an established brand, technology tools, training, competitive rates and good market share, for example) and a commitment to grow their market share, the next step is working through the numbers. If, for example, a broker has set a goal of recruiting 10 experienced, producing agents this year and he or she has 600 agents in their market area with sufficient sales volume to warrant a call, break it down like this: 

-Calling 600 successful agents on their cell phones until you actually speak with them will require a commitment to make 150 calls per week for 12 weeks (1,800 total calls). You will end up speaking with approximately 80% of the agents (480) and leaving a voice mail for 120. 

-Of the 480 that you end up speaking to, between 9 and 12% will be “interested” in exploring their options either because they are unhappy where they are or they want to learn more about your brand/value to them and their business. 

-Of the 40–60 interested agents, you should be successful in booking 20–40 face-to-face meetings. 

-20–40 meetings will result in between 5 and 10 agents recruited and a lot of momentum and excitement in your office that will result in the “collateral” recruiting of even more Agents. 

Read the rest of the article at http://rismedia.com/2009-09-19/what-is-your-strategy-to-recruit-experienced-agents/#more-40134#ixzz0bJ5ieQRp

Published in RIS Media Daily Advisor on September 19th, 2009

Adding experienced, producing agents is a key component of profitability and growth, but most brokers simply don’t have the time to hone their recruiting skills and then work the phones for the dozens of hours required to be successful. For brokers who are focused on leadership and innovation and choose to adopt a sense of urgency in their recruiting, outsourcing may be an option.

Just as many brokers realize cost efficiencies and market advantages by outsourcing technology, marketing or training; outsourcing components of their recruiting through RPO can produce strong results in a cost effective way while still allowing them to maintain their other management priorities.

Read the rest of the article at http://rismedia.com/2009-09-09/recruit-experienced-agents-through-recruitment-process-outsourcing/#more-39953#ixzz0bJ5Te6YR

Published in RIS Media Daily Advisor September 10th, 2009

Once a broker has established a goal of recruiting a certain number of experienced agents, they then need to lay out a plan to achieve that goal. And just as the broker will tell their agents; “To achieve your goals, you need to break it down to activity-what are you going to do every week to achieve that goal?”-It is no different for the broker’s recruiting efforts.

The first questions a broker asks an agent when breaking down their daily activities is typically; “how many buyer and seller prospects will you need in your funnel to achieve your goals?” and “what are you going to do every week to fill your funnel and keep it full?” Recruiting experienced agents requires the same type of commitment from the broker-to recruit 10 experienced agents, a broker may need to have 50, 60 or even 100 ‘interested’ prospects in their funnel. The broker’s brand, office location, available training and technology, private office availability and so many other factors (including their own individual ability to recruit) will play into establishing their value proposition locally. Agents can take months to make a decision to move and many ultimately either stay where they are or move to a different company...

Read the rest of the article at http://rismedia.com/2009-08-26/recruiting-experienced-agents-whats-your-strategy/#more-39621

Published in RIS Media Daily Advisor August 27th, 2009

One such company, Zephyr Real Estate in San Francisco, is a dynamic 30-year-old brand that has completely reinvented itself in recent years and is strongly positioned for growth. Significant investments in technology, training, marketing and renovated offices, combined with one of the most flexible and supportive management teams have made their 200+ existing agents the most productive in the City. With 6 highly visible offices in neighborhoods throughout San Francisco, Zephyr is focused on recruiting experienced agents, while maintaining their top notch, hands-on management style within each office.

To allow their managers to focus on the day to day issues of mentoring and managing through these tough times, Zephyr has partnered with Cogent Step Recruiting to fulfill their mandate of growing their ranks of experienced agents. Cogent Step Recruiting is doing the ‘heavy lifting’ of contacting experienced agents throughout the city and creating enough curiosity to at least have a conversation about Zephyr. Professional ‘third-party’ executive recruiters identify agents who may not be entirely happy where they are at and seek to understand their mindset; what are their issues, what are they thinking, what are their challenges? Cogent Step Recruiting then ‘sells’ them on the potential benefits of Zephyr and arranges a meeting with 1 or 2 of Zephyr’s managers. Before the meeting begins, each manager is thoroughly briefed on the agent’s motivation for change – their needs, wants, desires and possible closing opportunities to ensure the best possible chance of success.

Read the rest of the article at http://rismedia.com/2008-10-22/recruiting-experienced-agents-is-more-important-than-ever/#more-30747#ixzz0bJ5eMQLy

Published in the RIS Media Daily Advisor on October 23rd, 2008

Recruiting experienced agents has an immediate and positive impact to the bottom line. It also adds to the excitement level in an office, which can help with retention. The ability to effectively identify and attract experienced agents is more than a tactical advantage – in a highly competitive market, it is a core capability that will drive the success of a brokerage business for the long term.

So how does a broker execute a successful recruiting strategy while maintaining and managing all other aspects of their business? For some larger brokers, it requires a sizable investment in dedicated recruiting staff and technology. For others, recruiting is a priority that requires juggling blocks of time to focus on the effort themselves. And while this can work, it also means time away from their most important investment – their own agents.

There is now a third option; Recruiting Process Outsourcing (RPO) by Cogent Step Recruiting. RPO is a professional outsourced option that provides dedicated recruiting professionals to Brokers; applying proven process driven recruiting strategies with the experience, resources and expertise to meet a Broker’s recruiting demands today and long term...

Read the rest of the article at http://rismedia.com/2008-09-10/recruiting-experienced-agents-requires-a-consistent-professional-strategy/#more-30004#ixzz0bJ5Y7VYL

Published in RIS Media Daily Advisor on September 11th, 2008