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Five mistakes managing brokers make in recruiting

by Jessica Hamrick

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Recruiting the right agents is essential to a brokerage’s success, but it’s not easy. Managing brokers run the risk of losing valuable candidates if their recruitment process is missing important details.

Here are five mistakes brokers make in recruiting:

Breaking the rules

Violating rules of any kind is an obvious no-no when it comes to recruitment. As you embark into the hiring process, make sure you are aware of any non-compete contracts or criminal histories your applicants may have.

Staying in the 20th century

Social media is an excellent resource for reaching out to and researching a wide range of Realtors on the market. Sticking to only the more traditional methods of recruitment limits the size of your applicant pool as well as inhibits your ability to build a marketable and enticing company brand. Failing to use these networking sites to their full potential staves off many young, energetic Realtors looking for new business ventures.

Not listening to your current employees

Keep the conversation open and take the time to speak with the Realtors at your firm about why they chose to work for you or what they might look for in a broker will provide invaluable insight into the hiring process.

Discounting the importance of culture

Agents who interview with you are undoubtedly hoping to work in a place they enjoy. Sharing information about your culture in both job listings and your interviews will help your candidates feel excited about coming to work with you. It is crucial that you describe your company’s unique culture as well – for example, team outings, special privileges, etc.

Focusing on financial incentives

Most agents aren’t motivated by great commissions alone. Failing to mention the other benefits your company provides its employees minimizes the value that you can offer to a potential candidate. Benefits such as training programs, marketing tools and opportunities for advancement should be treated with the same amount of importance as a large split.

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