Brokers and team leaders have always struggled with the 4 Rs of building a great company: Recruit, Ramp, Reward and Retain.
Finding and keeping talent, whether it’s administrative staff or agents, can be challenging at every level in this business. Through coaching brokers and agents who want to build teams and companies, we have found if they follow the 4 Rs, they can find better talent and reduce turnover.
Our philosophy is to put all candidates through a process that includes the following:
1. To select agents, we run ads, listen to word-of-mouth, call on real estate schools, and pay attention to agents we work with who do a good job in the transaction. We invite prospective recruits to explore the opportunity of working together.
2. Once candidates show interest, we have them fill out a detailed application and take a DISC assessment.
3. Next is the phone interview. If there is a fit, we bring the candidate in for a face-to-face interview.
4. In the face-to-face interview, we determine if the candidate is willing to work, live by our core values, and fit into our culture.
5. The next interview happens with the candidate’s coach. This unemotionally involved third party is able to ask direct questions, find red flags, and provide clear expectations on the appointment. If the coach and the team feel there is a fit, the candidate will be given an offer letter and an agreement.
Because candidates go through this process, when they receive an offer they feel like they have won an incredible opportunity and are more likely to take the position seriously.
Onboarding is the step-by-step process outlined when a new person joins a team or company. With buyers agents, we follow a 30-day onboarding process that ensures the candidate has all of the critical tasks covered: setting up email signatures, meeting with our mortgage and title partners, and configuring their voicemail correctly.
Once agents are hired, we take them through our exclusive Buyer Agent Mastery (BAM) program. This teaches agents how to work with clients, follow up with leads, and convert a much higher percentage of their opportunities. Training the agents to prospect, show homes, and negotiate is a critical step in the Ramp phase of hiring.
Different people respond to different types of rewards. Some love public recognition, others are purely motivated by money, some want to work as a team and be able to take time off while their business is covered. It is our job as leaders to learn what motivates individuals and create reward programs to keep our key people fired up and feeling appreciated.
It costs more to hire new people, so a retention strategy must be in place so our people feel appreciated and are pushed to grow. I like to say, “You should not do anything for people you are recruiting that you don’t already do for your current team.” This includes celebrating when team members do something great, sending birthday cards, recognizing important events, and continuing to motivate and train so team members can improve. Be consistent with your retention strategy and make sure you follow a system to keep your most valuable assets happy and productive.
The key to successful hiring is to implement a step-by-step process everyone goes through. This consistency creates unity, stability, and a culture of productivity. The better your systems, the more likely you are to find and keep great people.
Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams.
For more information, visit www.verlworkman.com.