Use these real estate manager coaching techniques for brokers & managers to create a growth environment to both recruit and retain agents in their offices.
Real estate manager coaching can provide you with the tools you need to create a growth environment and be the best leader you can be.
Essentially, there are 2 things we can do as leaders:
- Focus our agents on growing their pipelines
- Recruit more agents
Growth makes you too big to fail. If you insulate your business by recruiting steadily, you won’t feel the effects of a downturn in the market.
VIDEO: Real Estate Manager Coaching to Grow Agent Count
Real estate manager coaching will teach you recruiting isn’t easy
Growing isn’t fun. I get it. Recruiting is hard.
There are very few people that have recruited more agents then I have so I can speak from personal experience. And believe me when I say that it’s a humbling experience to recruit. You sit down with people who know very little and act like they know everything.
But, you must recruit for growth
Any decreases in the market are going to be overcompensated by the growth on your team. That’s the goal! So even though it’s not easy, it is worth it.
It’s a numbers game
We talk abut this all the time with our real estate manager coaching clients. This objection to constantly recruiting is something that I hear very often. “I really just want to add one or maybe two more agents, that’s it.”
It does not work that way, guys.
There is a very low success rate in real estate. If you want one or two more agents, then you need to recruit four or five. Three or four won’t make it. Those are the numbers!
Within five years, most agents are quitting or moving on to a different team or brokerage.
It’s up to you to set up your onboarding systems and your trainings, and then it’s on your agents to meet you halfway. You can only motivate them so much. They must come with their own motivation. They have to want it.
I often say that if you have ten new agents join your organization, one of them will “make it” in real estate. The other nine simply won’t, and it’s a numbers game.
Real estate manager coaching: build a deeper bench
You must build a deeper bench. This is what successful leaders know.
This is true for every part of your business. Let’s say you have a fantastic office administrator. Your admin knows your business backwards and forwards and is absolutely excellent at their job. However, life happens, and sometimes administrators take a leave of absence, or move out of the area, or … anything! You need to have backup in all areas of your business.
This is why you constantly grow and add to your organization. It’s all padding and security so that you can continue to grow when road bumps come your way.
Building a deeper bench will get you off the real estate roller coaster. We all know what the roller coaster feels like and it’s awful. It is a stressful way to run a business. Instead of running your business reactively, run it proactively. Build your business by design instead of by default. It will absolutely change your life.
With the Brokerage / Corporate Real Estate Coaching Program, ICC will help firms set up the most effective and efficient systems for recruiting, agent onboarding, commission & fee structures, agent engagement & retention systems, recruiting, administrative work-flows, transaction management, staff hiring, agent onboarding, productivity training & accountability, financials & budgeting, marketing and much more!
The Executive Team Real Estate Coaching Program is designed for a high functioning larger team. These team leaders will build their influence, structure their brokerage systems and growth, recruit, lead internal divisions to operate at a high level and leverage their time. Opportunities to add ancillary services to build wealth.
Real estate manager coaching: focus on what you CAN control
The only thing you can truly control as a leader is your recruiting efforts.
If you need more income, you need to insulate your business so you aren’t dependent on any one high-producing agent. This is why you build a deep bench.
If you don’t have a deep bench, you need to focus on the systems that will help you do the activities you need to in order to recruit at a higher level.
All of these activities belong on your recruiting dashboard. And you need to be held accountable for doing these activities to grow your business in the same way that you hold your agents accountable for doing their activities.
Real estate manager coaching: recruiting sources
Sometimes the hardest part of recruiting is figuring out where to look for agents to join your organization. Here are some recruiting sources to add to your list.
- New licensees through your SOI.
- Large office – Let everybody know you are hiring.
- Indeed, WizeHire, Craigslist, etc. – Have an online ad running at all times.
- MLS – Search for agents with a decline in production last year.
- Association of Realtor functions, broker open houses, etc. – Go where agents are hanging out!
Remember to emphasize your value. More and more, agents are looking for a team or brokerage that will give them value.
In your recruiting process, evidence your value. Tell them about the leads you will give them. Remind them that you have an onboarding process and that you will train them on systems that will help them grow.
I do believe that the best hire, most of the time, is a brand new licensee. As I mentioned above, they come with no bad habits which allows you to train them the right way.