Every successful real estate firm should have a system for recruiting new talent. Large or small, the firm needs a system in place to one, to be financially successful, yet often, brokers depend on agents cold calling to see if they asking if they are accepting new agents. Recruiting is a full-time job , and firms must have to have a “Lead-Magnet” to attract new agents who will look at and consider interviewing with their firm.
Agents need a structured environment along with consistent motivation and training in order to perform at their best. Real Estate can be a lonely business, but productivity can be increased when the opportunity to share experiences and best practices as well as encouragement hence the opportunity to share experiences and best practice as well as encouragement is presented consistently in a meaningful way Having a positive Culture as part of firm’s Branding and controlling the way the culture fits each agent will determine their tenure in any firm. A culture is developed and maintained by the Broker. Attending regular Tuesday Morning meeting may be a part of a culture, encouraging agents to get designations may be part of a culture, how to begin and end meeting may also be a part of a culture, as well as how gents represent the firm. What is the culture of your firm?
Listing and Selling homes today is done in a way vastly different from years gone by. Today over 60% of home buyers first go to the internet to do their research before they call on or chose an agent. Sadly, in many cases, the potential buyer knows more about the home, the neighborhood and the general market than the agent. In order for minority firms to stay competitive, they must provide their agents with updated systems and technology to ensure agents always have more information than home buyers and the ability to guide buyers seamlessly through the process. This also is the key to recruiting and retaining the best agents in the industry.
Cashflow is the lifeblood of all businesses, and managing the firm’s money properly is important to be able to provide the necessary resources to keep the brokerage and agents competitive. With the feast and famine nature of the real estate business, budgeting to survive during slow periods and thrive in good times is a business decision every broker should take seriously. How minority firms manage their money will help in negotiating compensation: including commission split and other benefits common place in the industry.
As an agent, a Broker-Owner of two Century21 franchises, an independent Broker, a Real Estate Investor, Real Estate Investment Banker and a former Registered Investment Adviser(RIA). ¡+I have a BA in Business from Howard University and an MBA in Finance from Rutgers Graduate School of Business.
Over the years I have recruited, trained and managed hundreds of agents and have consulted and advise owners how to operate a financially successful business. My expertise is using my knowledge and experience in Real Estate and Finance to solve problems in Real Estate Brokerage.