In a competitive market, there is a lot to think about when you run your own brokerage. From helping your agents keep up with fast-paced transactions, paying out commissions—all the while promoting your brokerage’s brand to bring in new clients for your agents.
As the real estate market continues to level out, it’s also important to spend your time focusing on the agents on your team—from spending your marketing dollars to recruit new agents, to also retaining your current agents with timely coaching and training.
Here are our 5 tips for recruiting agents who are a best fit for your brokerage and retaining the ones you already have:
Identify your brokerage’s end game
Whether you’ve recently started a new brokerage or have been in the business a long time, at some point you created a business plan. In your planning, you should have set goals for how many agents you want on your team, revenue growth, etc., along with strategies you need to put in place to reach your goals. Having an end game in mind and revisiting your goals every year holds you accountable and helps you build a strong brokerage—which inevitably will help you know when it’s the right time to recruit more agents.
Promote your brand
Having strong brokerage branding is a great way to recruit new agents. When you have a strong brand in your local market, you attract more consumers—meaning you will be able to bring in more business for your agents. Make sure your branding is consistent across agent materials as well as prominently placed in your target market.
Find agents who are a best fit for your business
Finding the right agents for your brokerage is no easy task. With Recruit, you can put the power of AI and machine learning into your hands to easily identify agents who are a best fit for your brokerage. Just build custom search profiles of your best-performing-agents, and let Recruit do the rest! You’ll get a list ranked in order of agents who best match your custom search profile that you built. With this strategy, you can feel rest assured that you won’t waste time hiring and training agents who inevitably will not work out.
Keep track of agent performance and train them accordingly
One thing that will help set your brokerage apart from others is having a strong plan in place on how you will handle agent training and coaching. Digital tools like BrokerMetrics deliver an inside look at market performance, and Insights helps you easily track agent performance over time, so you can determine exactly when you need to train the agents on your team. It compiles all your back-office data—like contributions to company dollar—by agent into a digestible format.
Provide the best tech for your agents
Agents want to join and stay at brokerages that provide them with smart tech that will help them manage their day-to-day activities, save them time, and essentially help them win more business. Tools like Cloud CMA will help your agents win more listings with interactive CMAs—while also keeping your brokerage branding front-and-center. Boost’s digital marketing platform promotes your agents’ new or just sold listings across top sites like Facebook, Google, and nytimes.com so they garner attention from consumers in their local market. Providing tools such as these for your agents not only helps you retain your agents—but also can be presented to agents you are trying to get on your team during your recruiting process.
So, there you have it! 5 easy ways that you can take hold of your brokerage’s recruiting and retention efforts. Save yourself time and money and start putting these strategies into practice today with the Lone Wolf Broker Cloud. Click here to learn more.