Spreading the Word
Experienced agents who have demonstrated their abilities and professionalism are always in demand. Successful agents may often find themselves the target of brokerage recruiting efforts. Inevitably, many do move on when they see an opportunity to improve their business. NAR’s 2015 Member Profile shows that many agents are willing to move on after just a few years at their brokerage. The largest share of sales agents – 39 percent – said that they had been with their current firm for a year or less.
Fred says that often the managing broker is a major reason agents are willing to leave their brokerage. “Obviously they’re unhappy, but it also relates to the relationship. You can hang your license anywhere, but if the brokerage does not have the right managing broker – if that relationship is not there – that’s a big deal. I don’t care how experienced an agent you are, it’s nice to have that managing broker who you know is in your corner.”
Of course, agents also know that if they are doing good work, they are going to be recruited.
“We’re all recruiting agents all the time,” Siciliano says. “Managing brokers at every company recognize that. It’s certainly part of the business.”
Siciliano does a lot of cold-calling, following up on tips he has received from his own agents.
“They’ll do a deal with so-and-so and say that they’re nice and easy to work with, so I’ll pick up the phone and give them a call,” he says. “We’ll let them know that we’re always growing and looking for good people that our agents have had positive experiences with.”
To recruit effectively, a managing broker should know how to time their pitch. Not every situation is an appropriate time to attempt to recruit an agent.
“If I’m out somewhere and having a good time, having someone come over and try to talk about jumping over to their firm is a big no-no,” Fred says. “People are allowed to have a good time. It has to be done professionally. Timing is everything.”
Fred suggests sending an email or making a phone call first.
“You go out networking to meet people, but that’s not the time or place to recruit someone,” she says. “Schedule it for some other time.”
According to Hoyt, RE/MAX attracts about two franchise inquiries per month via the company’s website. Naturally, finding the right franchisees requires time on the phone and a personal touch – the company’s brand certainly draws interest, but each lead must be handled as an individual with unique needs and qualifications.
“Once that initial contact is made, I follow up with a call and I introduce the concept to whomever it is that I’m talking to,” Hoyt says. “The RE/MAX name opens a lot of doors for us, but the technique requires a follow-up call, video messaging and targeted email. It’s all about being targeted and personal, rather than doing massive e-blasts.”
Will new talent usher in the future of real estate?
Newly licensed agents are another factor to consider. Rising stars emerge from licensing schools and real estate college programs all the time, and the industry is expected to expand as the housing market continues to improve. The U.S. Department of Labor’s Bureau of Labor Statistics projects the addition of 10,900 jobs for agents and brokers through 2024.
“We have our own licensing school,” Siciliano says. “While it’s not legal to recruit directly through it, we can heighten our brand awareness and let students know that if they’re interested in a career with Coldwell Banker, they can certainly talk to us.”
Whether an agent is an experienced pro or relatively new to the field, they will make a final decision based on what the brokerage can offer. They’ll seek the level of support and exposure they need to achieve their own goals and cultivate their own business as contract employees. With the right brokerage behind them, they may be able to realize those goals and achieve the level of success they have always sought. That’s a win-win.
