According to brokers at Connect NYC, agent recruitment and retention is about finding people who are already a good fit for your culture and business model.
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In the case of real estate brokerage, recruiting and retaining agents is often about finding people who are a good fit for your culture and business model. It’s about trying to convince someone that it’s yours.
This was a perspective from brokerage leaders at Inman Connect New York, three brokerage leaders that employ different business models and serve different market segments.
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Wendy Forsythe
“I think it’s very old school for brokers to call the agents they’re trying to hire and have a conversation,” said Exp Realty CMO Wendy Forsythe. “That’s just not how the world works. Right?”
Rather than having surface-level conversations about websites and customer relationship management tools, “we’re having much more strategic conversations with people about ‘where do you want your business to go?'” Forsyth says. Said. “What kind of lifestyle do you want your business to offer you and your family?”
For Stefani Berkin, president of R New York, her company’s business model and culture are attractive to the right agents.
Birkin’s philosophy is that “the agent does all the work, and the agent must maintain all the committees.”
Agents pay a monthly fee, and “there’s a small transaction fee for each trade you make. So we’re funneling agents into the company.”
But Belkin is “looking for an agent who will take several years” [of experience] Under their belt – clients come from their network. They do all the work, negotiation, and show. ”
Stefani Birkin
There is a saying in life: “You want to be your first love, your second wife, and your third broker.” “That also works with companies, right? I’m not the first agent.”
Ivan Sher’s company is a luxury, boutique, ultra-high-end luxury brokerage firm with locations in Las Vegas and Newport Beach, California that attracts a division of high commissions and has no agent recruitment and retention issues.
“My business model is the opposite of these two amazing people sitting next to me, and it works,” Shah said. “I’m very heavy. It’s a big difference in the split compared to some new brokerages.”
What allows Shah to claim a higher split is that “the culture and brand that my partner created years ago that she passed on, and that I picked up and grew from.” “Basically, what we do is cater to all the needs of our agents. We make sure they have the tuition, training, support, marketing, PR, brand We spend millions of dollars a year doing so.
However, Luxury is only looking for agents who are already successful.
Ivan Shah
“We don’t take people who are failing or who are trying to find other options in life or part-time,” Shah said. “That’s not our business model. We take people in because we help them evolve their business from what they’re doing on their own – whether it’s $20 million, $50 million, Even if it’s $100 million, it helps them evolve.”
Barkin said he’s looking for enthusiasm, hard work and creativity. “People who think outside the box. But above all, you need integrity.”
Berkin describes real estate as “participating in a very holistic industry and business. It’s not just about what you make and what you take home. It’s also about your lifestyle and your business plan, and It’s how you feel that day. Because as agents, we need to absorb our clients’ emotions so they can make the most emotional decisions, the best investments. ”
Forsythe also believes that recruitment and retention is about more than just money.
“I personally don’t use the word recruiting, although I think there’s a shift in thinking that’s been going on for quite some time,” Forsyth said. “I don’t think most people on our team are thinking about hiring. We see that as an attraction, right? For example, we aspire to a business that shares a common goal, a common aspiration. Are you attracting like-minded individuals?”
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