If I asked youâas a brokerage owner or team leaderâwhat are your top five differentiation points, could you answer clearly?
What makes your company different from every other company in the marketplace? In other words, whatâs your value proposition?
If you canât answer that, no one else in your market can either.
Some of you might rush to say, âWell, we have the lowest commission plan in the market.â But thatâs a terrible value proposition.
If a commission plan were all it took to recruit agents, then the brokerage with the lowest commission would have the most agents. But thatâs rarely true.
Why?
Because commission plans are not the single greatest motivator for agents.
The #1 motivator for an agent to join your office is this: Will you help them grow their transaction count?
If your value proposition doesnât clearly communicate how youâll help agents do more deals, youâre going to loseâevery single dayâto competitors who can.
So hereâs my challenge to you:
Take some time to...
If you own a brokerage or you're a team leader, Iâve got a question for you:
How much of your time each day is spent recruiting? And why is recruiting such a high priority for the top offices and team leaders in America?
The reason is simple: top leaders understand that at the end of the day, we donât actually sell real estateâthe agents who work with us do. What we do is provide the environment, support, administrative resources, marketing, and tools necessary for agents to succeed.
We donât sell real estateâwe help people who sell real estate.
That leads to a big mindset shift. If weâre not serving buyers and sellers directly, who are our customers?
Our customers are the agents.
When you reframe your business like that, it changes how you grow. Just like your agents grow by serving more buyers and sellers, you grow by serving more agents. That means recruiting more agents is how you scale your business.
One of the biggest mistakes office leaders make is this: They think that i...
One of the jobs we often overlook as managers, broker-owners, or team leaders is the important fundamental of setting macro and micro level goals for your organization.
What do I mean by that?
A macro goal is the big pictureâbeing able to say to your team this is our goal for the company this month.
It might be:
(Or maybe itâs 50. Maybe itâs 100. Pick your numbers.)
But we have to set a clear expectation for what weâre trying to achieve. Thatâs how we build a culture of performance.
When we donât set those expectations, thereâs no strategy, no sense of direction. No one knows what weâre aiming forâand as a result, it never happens.
We wonder why we can't break through certain barriers. It's because we don't set goals.
You can't hit targets you donât set.
So set a target for your organization. Say it out loud. Proclaim it. Make it something your team is excited to shoot for.
And when youâre getting close...
Let me tell you the number one mistake rookie recruiters make when they're first released into the field. They've just been given the job of becoming a recruiter, and they think, âOkay, I better get out there and start making things happen.â
So they go to a REALTOR eventâcould be an MLS meeting, a board meeting, maybe a training or education eventâand they jump into full-on âmayor mode.â Theyâre shaking hands, kissing babies, acting like the VP, president, or CEO. Theyâre working the room.
And then they make the classic rookie error:
They start trying to recruit in public.
Professional, high-level recruiters never recruit in public. Ever.
We build relationships in public. But we always recruit in private.
Why? Because if youâre seen recruiting openly at a public event, people will run from you. Theyâll think, âI need to get away from this person before anyone sees me talking to them.â
Nobody wants to be seen as the agent whoâs being recruited, and you donât want to be the recrui...
What is a standard agent and a gap agent?
If you're a brokerage owner or team leader, you need to understand the difference between the two because it can really impact your recruiting.
Let's say you've created a master list, what we call an avatar list in our coaching program that includes people you're trying to go after. Maybe it's 300, 400, or 500 agents in your market that you've identified as ideal candidates for your company. They're the ones you want to bring on.
Now, if you started researching them individually, you'd likely find that you could classify them as either a standard agent or a gap agent.
Whatâs a standard agent? A standard agent is someone who has closed a transaction in the last 90 days, meaning theyâre typically closing four to six to twelve or more deals a year.
A gap agent, on the other hand, is someone who may have done well in the past but hasnât closed a transaction in the last 90 days.
Whoâs more likely to make a move? The gap agents.
They're lookin...
If you're a recruiter for your company, a brokerage owner, or a team leader, there's something important you need to understand: you have to recognize the strength in every weakness and the weakness in every strength to succeed.
We can't be all things to all people in real estate. You might have a large brokerage or a small one, a great physical office or none at all, be part of a franchise or independent, have top-tier technology or limited resources. The key is not to get hung up on what you donât have. If you use it as an excuse to avoid recruiting and prospecting, youâre holding yourself back.
Instead, ask yourself: what's the strength in the weakness? What's the weakness in the strength?
For example, letâs say someone tells you, âI donât want to work for a competing broker.â Thatâs a valid concern. If you are a competing broker, you need to be prepared with the right response.
You could say:
"I totally understand where you're coming from. But can I share why being a competing...
Hereâs a question I get almost every day from people who think they need to start recruiting to grow their business.
As a real estate brokerage owner or team leader, the only way to grow profitability is by increasing the number of agents working for you.
You have to switch hats. Many of you are coming from being top-producing agents, where your focus is on personal production. But when you move to the brokerage side, itâs no longer just about your productionâitâs about where production comes from.
Production doesnât come from one, two, or even ten agents. It comes from a team of agents working under you. Your customers are no longer buyers and sellers. As a brokerage owner or team leader, your customers are agents.
If you want to grow, you need more customersâmore agents. If you stay stagnant with the same number of agents, you wonât just fail to grow; youâll become less profitable over time. Inflation is constantly eating away at your profit margins. Itâs grow or die. Expanding y...
When you step into the role of recruiter for your team or office, you have to shift gears. You likely came from production, where you were a top agent and a confident salesperson. Talking to buyers and sellers felt natural.
But then you put on the recruiter hat, and suddenly making that first call to a potential recruit feels dauntingâlike the phone weighs a thousand pounds. It feels awkward and uncomfortable. Why is that?
Itâs because you donât have the skillset yet. Confidence comes from competence, and competence comes from learning and practice. The good news is you can develop those skills by getting coached and learning from others whoâve been where you are. Weâll share some tips and tools to help with that in a moment, but first, let me give you something to think about.
If youâre serious about growing your team or office, you need to commit at least one hour a day to recruiting. Without that, your business is at risk.
Hereâs where many people get stuck: they think they can ...
I get this question all the time from brokerage owners and team leaders: âHow do I start recruiting today when I donât have everything built yet?â
They often feel stuck in a catch-22: They think they need to build their vision first in order to start recruiting, but they donât have the money or resources to build it because they donât have agents yet.
Hereâs the answer: People will buy into your vision as long as you can articulate it clearly and tie it to a timeline.
When youâre talking to agents, say something like:
"Iâve got this vision of the kind of company I want to build. Iâm looking for a few people who want to get in on the ground floor and help me build it. We call them âfounder agents.â Theyâll be right there, side by side with me, helping shape this vision. Can I explain to you what Iâm trying to create?"
If you can sit with people and lay out a clear vision of what youâre working towards, theyâll buy into it. It doesnât have to be 100% built yetâthatâs what youâre wor...
Have you ever lost an agent? I have.
If you're a broker owner or a team leader, you probably have too. At some point, an agent decides to leave, and it feels terribleâlike getting punched in the face. It's emotional, and you might wonder: Why did that happen? Was it my failure, or is it just part of the industry?
Here's the hard truth: it often is a failure on our part.
Specifically, it's a failure to understand where that agent was in their career. And that failure stems from a lack of communication with the agent.
Retentionâthat's what we're talking about here. Keeping agents starts with building relationships. And relationships come from spending time with your agents.
Time leads to relationships, and relationships lead to retention. So, the first step is spending more time with your agent team.
Now, you might say, âJim, Iâve got a 200-agent office. Thereâs no way I can spend more time with all of them.â But itâs not about hours of one-on-one time. Even five or ten minutes can...
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