When to Hire a Real Estate Recruiting Company

So, you’re considering hiring a real estate recruiting company. But, is it the right time?

Here are three scenarios where it makes sense to get recruiting help:

Scenario #1 – You’re a new brokerage and you’re looking for rapid growth

Curiosity is one of the main reasons agents accept recruiting appointments. New brokerages have the advantage of generating curiosity, especially when they do a strong grand opening.

But, if a new brokerage doesn’t grow in the first couple years, agents assume it must not have something to offer so the curiosity fades. That’s why if you’re new and want rapid growth you should either hire a full-time recruiter or hire a real estate recruiting company as quickly as possible.

Scenario #2 – You’re an established brokerage or team and have consistently recruited but you’re looking for even more growth

This scenario typically occurs when either one or more managers is responsible for recruiting or a full-time recruiter is stretched thin. Growth is consistent but not at the level leadership wants.

Managers have multiple demands on their time, so they often don’t have the capacity to increase their recruiting efforts. And a full-time recruiter who handles multiple offices can often struggle to find the time to make calls when they’re already building personal relationships, attending networking events, doing social media, etc.

If it isn’t in the budget to hire additional staff, then hiring a real estate recruiting company can help increase agent count.

Scenario #3 – You’re an established brokerage or team but you’ve hit a plateau

This scenario is similar to scenario #2 except growth has stopped or even declined. One reason for that is existing staff is stretched too thin. Another reason is existing staff either doesn’t have the desire to make the recruiting outreach or they lack the skills to generate appointments.

Provided the existing staff can convert appointments into hires, it makes sense in this scenario to hire a real estate recruiting company. But, if the existing staff can’t convert, then it makes more sense to invest in training/coaching or switching out personnel first.