One of the things I'm asked as somebody that specializes in recruiting is how does it impact your recruiting strategy when A) you're going after an office where there's a competing broker, and B) what if you’re the competing broker in your market?
So let's start with a question: what if I'm going after an office where there's a broker that's out there still selling real estate? And that's very, very common. In fact, the vast majority of brokerage owners in the country still sell.
So here's the trick. When you're looking at those companies, when you're looking at the overall agent productivity of that office, you've got to break out the leader, because the leader is inevitably the top producer in the office.
And when I break their production out, it will bring all those other agents' production down. So I'm having a meeting or a conversation with somebody, I can say”
“Hey, I took a minute and I looked at your overall office productivity. Looks like you had a pretty good year. But wh...
Hey guys, is there one giant national real estate market? The answer is no. Real estate, like politics, is all local. One market is going to be different from the next, and what drives conditions in every market across the country is supply and demand.
Supply and demand determine what sellers can ask for a home and what buyers can ask from sellers. This is true in every market in America.
If we broke the national market down, we could look at it in four distinct regions, as often done by NAR: the South, the West, the Midwest, and the Northeast. These markets are wildly different.
I live in the West, where there are currently more sellers than buyers. Sellers here are feeling the pressure—reducing prices, offering concessions, and being more aggressive to attract buyers.
In the Midwest and Northeast, it’s the opposite. There are more buyers than sellers, giving sellers pricing power. Agents in those regions might say, “What are you talking about? It’s completely different here.”
He...
I want to give you a strategy to start using every day in your office.
As you're walking through the halls and having conversations with your agents, follow those conversations up by asking, "How’s your pipeline?"
You’re communicating to your team that you care about their performance and want to help them reach the next level in their business.
By asking those magic words—"How’s your pipeline?"—you’re going to unlock a lot of meaningful conversations.
People will say things like:
You’re going to hear a lot of that. And that’s exactly what you want.
Don’t avoid those conversations… go straight at them.
Because if you’re not having that talk, someone else is... and that someone is likely trying to recruit your agents by offering them a solution.
You are going to be that solution.
When an agent shares a challe...
Here’s a question: Of the three types of real estate companies I’m about to describe, which do you think is the most dangerous to own in terms of survival?
Which one is the most dangerous?
For brokerage owners watching this, the answer is the mid-size company.
Here’s why: mid-size companies lack the economies of scale that smaller or larger companies enjoy.
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