How to Choose a Real Estate Company (pt. 1)
This is the first of a two-part blog series on how to choose a real estate recruiting company.
Step #1 – Determine your budget
You don’t need to have an exact number in mind. But, recruiting companies can charge anywhere from several hundred dollars to several thousand dollars per month. So, you at least want to have a general range you’d be willing to pay for their services.
Step #2 – Determine the kind of recruiting help you need
Making calls is the single most effective way to recruit real estate agents. So, if you don’t have someone on the phone on a consistent basis, you’ll want to start with companies that make cold calls to set recruiting appointments.
If you’ve got the calling part covered, then you’ll need to determine if you want help with email, direct mail, social media, PPC, and/or creating a recruiting website.
Step #3 – Ask for recommendations and use Google to find recruiting companies
If you’re a franchisee of a brand, ask corporate if they have any recommendations and reach out to your fellow franchisees for the same. If you’re part of a network of brokerages (like Leading RE), use that network to find out if anyone is having success with a particular company or companies.
Regardless of any recommendations you might get, it’s also a good idea to use Google to search for recruiting companies that provide the services you want.
Step #4 – Interview/set up demos with the companies
I recommend interviewing at least three companies unless when you ask for recommendations you consistently hear the name(s) of one or two companies. In that case, you don’t need to interview any other companies unless you feel the recommended companies aren’t the right fit.
Prepare a list of questions prior to conducting the interviews. And, be prepared to answer questions about your recruiting goals, your ideal recruits, what you’re doing now and what you’ve done in the past to recruit, whether or not you have a prospect list, etc.
Finally, make sure the companies you interview send you written proposals and, if they have contracts, have them send those as well.
In the second part of this series I’ll share with you how to choose a real estate recruiting company once you’ve completed your interviews.
