How to Help Your Brokerage Managers to Recruit Real Estate Agents

You’re a larger brokerage and have multiple managers. But, those managers aren’t recruiting producing real estate agents. Growth is stagnant or maybe you’re even losing more agents than you gain. Here are a few options for helping your existing managers recruit (without needing to hire an in-house recruiter).

Option #1 – Remove some of the managers’ responsibilities

If you can remove some responsibilities from your managers and transfer them to other existing staff, that’s the ideal situation. But, most of the time removing responsibilities means hiring or contracting with additional staff or a third-party company.

Some of the easiest and least expensive responsibilities you could remove include training/coaching, business planning, marketing assistance, and compliance. You could also hire an experienced broker to act as the single point of contact for questions or issues with transactions.

All those options are cheaper and less risky than hiring a recruiter.

Option #2 – Incentivize them to recruit agents

If you don’t already incentivize your managers to recruit, consider doing so. There are far too many recruiting compensation structures out there for us to discuss all of them, but here are the most common:

 ·      A flat amount per hire. The amount is typically based on the production level of the recruit.

·      A percentage of the GCI of agents recruited. This can be based on their GCI in the first year after joining or longer.

·      A bonus for increasing the total GCI or production of the agents in the manager’s office(s). While this isn’t tied directly to recruiting, it’s typically faster to increase total GCI/production through hiring producing agents than it is to increase existing agents’ production. So, it indirectly incentivizes managers to recruit.

Option #3 – Hire a real estate recruiting serviceire

Real estate recruiting services come in a variety of flavors. Some, like ours, make cold calls to set recruiting appointments on your managers’ calendars. Other services offer email, social media, and/or PPC recruiting campaigns.

If your managers aren’t making recruiting calls, then the place to start is a recruiting appointment setting service. Cold calls are the most effective way to generate appointments with producing agents, so you want to make sure you have those covered before you explore alternate recruiting services.

Email, social media, and PPC campaigns on their own are generally most effective for recruiting new licensees or persuading people to enter the business. But, they do improve overall recruiting results when combined with a cold calling campaign.