Now, more than ever, brokerages need to be intentional in their recruiting and retention strategies. The markets have been trickier to navigate amid the coronavirus pandemic, and so agents are looking to affiliate with a company that can provide them with the tools and culture necessary to find success even in the most challenging of times.
Sherri Johnson, CEO and founder of Sherri Johnson Coaching & Consulting, recently led a discussion on this subject during RISMedia's webinar, "Increase Top-Line Revenue Through Attracting Talent and Coaching Your Agents," sponsored by ACESocial.
Johnson started off the event by providing some overall tips for intentionally increasing revenue across a brokerage:
- Develop your sales managers to effectively drive listings, sales and market share.
- Measure KPIs: Key Performance Indicators.
- Conduct impactful sales meetings to drive listings and sales.
- Coach existing agent base to greater income.
- Create a thriving culture of success and teamwork.
- Recruit by adding real, monetized value.
According to panelist Anthony Lamacchia, broker/owner and CEO of the Lamacchia Companies, brokers should be on the offense when it comes to recruiting, as there's an art to the process. A big part of that should be education.
"If you educate, you attract," said Lamacchia. "I used to think that you should lead with, 'We are great.' We changed it to just educate."
For panelist Dana Davin, founder and CEO of Portside Real Estate Group, both recruiting and retention should be about meeting the needs of agents.
"It's about understanding their needs," she said. "We are in the process of building relationships. We're strategically recruiting in everything we do. Everything should be looked at with the lens of how to recruit."
In terms of unlocking agent potential, Davin said it's simply about building up their confidence, and that's something that should be built into the company's culture.
"Our culture is so strong that people can't even describe it. Leadership has to believe that the potential of its agents is bigger than they imaged. Brokerages have to provide a safe environment that's collaborative."
Johnson agreed that culture should be at the core of every recruiting and retaining strategy.
"When you see a culture where the leadership is leading by example—with love, empathy and support—it's a total recipe for success."
It all comes down to intentionality, however. In order to attract and retain agents that fit into existing brokerage models and cultures, the strategies have to be targeted rather than broad.
"Everybody wants to be a part of something that is special," said panelist Carolyn Rosson, vice president of brokerage for the Ebby Halliday Companies. "Recruiting needs to be intentional and specific."
Rosson recommends that brokers "have a deep relationship with a small group of people you want to recruit."
And the best way to reach this core group? Easy, call them.
"Your tool is your telephone. It's all about making contact with people," said Rosson.
For more tips on how to be intentional in your recruiting and retention, watch the full webinar:
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