If you’re like most agents, recruitment strategy isn’t top of mind until you decide to join a new brokerage. But when the time comes to make a change, it’s wise to consider the mindset of a managing broker. Think about the traits they want a new agent to possess and consider how you can best demonstrate those qualities.
Having launched Related Realty, the brokerage division of Related Midwest, earlier this year, I’ve spent considerable time evaluating the characteristics I deem most important when recruiting new agents. As managing broker and president of the firm, there are several new-hire qualities I consider to be most significant. Reference these points when evaluating what you bring to the table and how to best present yourself throughout your search for a new agency.
Reviewing a candidate’s resume is typically my starting point. Previous experience and accolades help to determine suitability for our team. While the decision to bring a new agent on board is never as cut-and-dried as the information that is – or isn’t – on a resume, I definitely look for the basic qualifications that align with Related Realty’s growth plan.
For example, I tend to recruit agents with at least three years of experience; however, we do have apprenticeship programs for agents who are new to the business but bring other desirable traits to the table. There are some brokerages that may focus more on building their team at other levels, so it’s important to think about what your experiences will offer a company, and always be prepared to communicate that during an interview.
I typically look for agents who have achieved $3 million in average production over the last two years. An important caveat to consider is this: has there been a consistent increase in production over their career? Can they provide examples of how they continue to grow their business? For those industry veterans, how has their performance increased for the better since 2009? I am especially interested in hearing how seasoned agents have handled their business during and after the recession.
Of course, not every quality a hiring broker wants to see in a new agent can be communicated on paper – some search for business-minded individuals with a high level of professionalism, work-ethic and drive.
So, how can you communicate those intangible qualities? If you have an established career, your reputation may precede you. Providing insight through references and examples is always beneficial.
I learn a lot about potential new agents by hearing them describe a typical day and their preferred time management method. Do they schedule dedicated office hours? Do they set aside time to strategize on how to actively grow their business? Whether it’s following up with past clients, researching and rolling out new marketing techniques or keeping up on market stats, committing time to those efforts makes an agent a more valuable resource to their clients and company. My opinion is that if agents place a large emphasis on time management, and are proactive rather than reactive, it speaks volumes about their professionalism and long-term goals.
Openness to New Strategies
Like many industries, the brokerage world is ever-changing as new technology is constantly being introduced to the marketplace. In many ways, an agent’s willingness to adopt new ideas and tools to build their business indicates their interest in long-term success.
Related Realty offers agents an extremely high level of support, with cutting-edge systems to help streamline processes and allow our agents to focus on growing their business. To make the most of that support requires forward-thinking individuals who can adapt to new technologies and marketing efforts put in place for their benefit.
Remember to share examples such as embracing social media to connect with clients, implementing an interesting new marketing tool that helped close a deal or other initiatives demonstrating your receptivity to new techniques. That excitement and eagerness is exactly what a cutting edge brokerage is looking for in a new hire.
David Wolf is president of Related Midwest Sales and president and managing broker of Related Realty, the residential brokerage division of Related Midwest. As president of Related Midwest Sales, he spearheads the sales efforts of the developer’s South Loop Luxury condominium collection, while his responsibilities with Related Realty include recruiting and training agents and overseeing their efforts to serve discerning buyers and sellers.