What iBuyers Can Remind Us About Recruiting
Look, I’m as tired of hearing about iBuyers as you are. So this isn’t an article about how they affect agents or whether they’re the “future” of real estate.
But, iBuyers can remind us something about recruiting. Or, more accurately, they can remind us something about business in general:
People will pay (a lot) for certainty and convenience.
Selling real estate is inherently uncertain.
Agents often don’t know where their next deal will come from. They don’t know how much commission they’ll make from the deal. They don’t know how quickly the deal will close.
And I doubt anyone would describe selling real estate as convenient.
Agents must log into and use multiple technology platforms, each with a different user interface and set of processes. Agents are responsible for a mountain of paperwork. And, they must juggle communicating with clients, other agents, inspectors, title reps, and mortgage people (just to name a few).
One thing we know for certain about the brokerage business is margins are getting tighter.
I believe a big part of that stems from the fact there’s little meaningful differentiation between most brokerages. And, the differentiation that does exist (for example culture) is hard to communicate to prospects.
That’s why I’d challenge you to consider how you can add more certainty and convenience into agents’ lives.
Doing so will create a massive competitive advantage for you and reduce objections about splits and fees.
Now, I don’t have all the answers for how you can make things more certain and convenient for agents. But, I can tell you from our conversations with them on the phone they’re interested in:
Done-for-you marketing
Pre-set appointments with motivated buyers and sellers
Administrative support
Complete transaction coordination
A predictable income that will allow them to live the lifestyle they want
And they’ll gladly pay a brokerage who can provide those.
So, again, I’m challenging you this week to consider how you can add more certainty and convenience into agents’ lives.
Because if you can, you’ll recruit more agents and improve your margins.
Drew
