The key to any brokerage’s success is attracting and retaining top-producing talent. With over 86,000 brokerages in the United States, this is much easier said than done. When an agent decides to make a move, how do you ensure that your brokerage is in the running?
We interviewed Nick Bristow, the managing broker for United Real Estate Dallas, to figure out what his secret is to attract and retain new agents. He has consistently added 15 agents per month to his real estate firm in Dallas, Texas. Nick says that science plays a huge part in his recruiting success. He takes the time to determine who the agent is based on sales and experience and tailors his pitch to meet that agent’s specific needs.
“If the agents are new, I modify my persuasive methodology to cater to the triggers and pain points I need to touch on to create their desire to join us. With producing agents, I research their production and then prepare a value-based approach as well as highlighting the stability of the firm. “
Nick also states that he likes to cast a broad blanket to pull in prospects from a variety of places and focuses his time on calling selected agents that would be a good cultural fit for his brokerage.
There are many driving forces that influence an agent’s decision process as to which brokerage to choose to join; below are three major factors that commonly drive agent decisions:
1. Value proposition
What value do you bring to your agents? Does your brokerage offer sufficient office space, technology resources, lead generation, marketing and tools that make a difference in the day-to-day life of a real estate agent? Your value proposition will set the tone for your agent’s success and the way the company culture is viewed by agents at other brokerages.
2. Leadership Team
An agent is an independent contractor and is solely responsible for their own business...right? In a perfect world, maybe, but let’s be real, brokerage success depends on agent success! If mentorship is lacking at your brokerage, the sales will also lack! A great culture is built through inspiration and a solid leadership team. It can be helpful to have multiple leadership positions created that inspire agents to step up into a mentorship role. This creates a dynamic environment of people lifting each other up and working as a team toward success.
New and seasoned agents alike desire a stable brokerage with a history of success and a positive growth outlook. Prove your brokerage’s worth by showing off the numbers. Utilizing data will speak volumes to how your potential recruit can benefit by partnering with your firm. Additionally, projecting confidence in future success will go a long way in convincing an agent that your brokerage is a safe place to build their business.