Finding new agents to support a fledgling real estate brokerage is harder than it looks. Even the biggest brokerages have trouble recruiting new talent. That’s because few real estate agents actively seek new employment. They get comfortable in their roles and build a following with their employer, so they need a compelling reason to jump ship.
If you’re wondering how to recruit real estate agents, this guide is for you. You can boost your real estate recruitment efforts and get the talent you need by implementing a few specific strategies, like email digital marketing. This will allow you to attract new agents to help you expand your local market footprint and ultimately increase sales.
The real estate recruitment challenge
Real estate is a different animal from other industries. Agents work on commission, not salary, so they only get paid when they sell a home. The most successful agents know the power of marketing and leverage it at every opportunity. Waiting for leads to magically appear doesn’t work, especially for real estate agents without a digital footprint.
What does that mean for brokers wondering how to recruit new real estate agents? A few things. One, a new brokerage with a limited history of sales success will struggle to attract new agents. And two, if you want to attract experienced realtors, you’ll need to present a pretty compelling case for joining your brokerage. That may mean offering higher commissions, better marketing support, or other valuable benefits.
Few real estate agents are actually without a job. That means you’ll need to approach candidates who may not be in the market for a new role and show them why joining your brokerage is a smart call.
Creating a real estate agent recruiting process
Knowing how to best recruit real estate agents starts with defining an effective process that aligns well with your brokerage goals.
1. Define your recruitment objectives
Start by defining what you hope to achieve by attracting new agents. Are you hoping to expand your brokerage in new areas? Do you want agents that specialize in specific communities or cities? Do you want to attract a top-performing team that outperforms other brokerages in your community?
Write down your goals so they’re clear to you and your recruiting team. Your objectives can help you define your actions in the recruiting process.
2. Develop a recruitment plan
Your next step is to outline how you’ll find the agents best positioned to meet your recruiting goals. A few options include:
- Creating a database of local real estate agents in your area
- Networking with potential agents at local real estate events
- Reaching out directly to agents you want to work with
- Posting job ads through your website or on career sites like Indeed
You might combine a few options to cover all your bases and generate more interest in working for your brokerage.
3. Implement the recruitment strategy
Once satisfied with your objectives and plan, you can start contacting real estate agents and build a case for joining your team. Keep in mind that attracting new agents usually doesn’t follow standard job interview practices you’d find in other industries. It may be more informal. For instance, you might meet a prospective candidate over lunch to discuss the opportunity and why the agent should consider it.
Finding out what talented agents want
Real estate is all about forming personal connections. If you want to know how to recruit experienced real estate agents and what would convince them to make a move, simply ask them.
Meet potential recruits
If you have your eye on a few possible candidates to join your brokerage, give them a call and ask them to meet you for coffee or lunch. Use the time to get to know them and explain the benefits of working for your brokerage.
Understand what motivates real estate agents
Real estate agents have different motivations for working in the industry. Some thrive on money and push to make as many sales as possible. Others like to scale their business up or down according to their schedule. And some stick with the brokerages they’re with because they’re unaware there are better options available — like your firm. Pay attention to what you learn from meeting other agents so you understand their motivations and how to address them.
Offer more than just money
Better commissions aren’t the only thing you can offer new real estate agents. Look for other ways to impress your team, such as:
- Increased digital marketing support, such as personal website, customer relationship (CRM) system, and pre-designed real estate email templates
- Flexible scheduling and more time off
- Paid equipment, including smartphones, tablets, and laptops
- Healthcare, dental, and life insurance
- Access to a company-sponsored retirement plan
- Company vehicle
When your brokerage goes the extra mile, you’ll find attracting top-tier talent easier.
Ways to find great real estate agents
Finding your next real estate agent starts with knowing where to connect with them. Consider these options to up your connection game.
Attend real estate industry events
Real estate organizations frequently hold conferences, meet and greets, and other professional events that agents attend. Check with national and local real estate organizations to see if there are any upcoming events in your area, and join them. You may meet agents interested in working for your brokerage at the event.
Use social media effectively
You probably use different social media platforms to show off new listings and attract new customers. You can also use it as a recruiting tool. Let your audience know you’re looking for agents and respond to any inquiries you receive.
Offer sign-up bonuses
An upfront cash bonus is a great hiring incentive to boost your leads. Advertise your hiring cash bonus on your website and social media. You can also offer non-cash incentives, like access to comprehensive marketing tools or a company vehicle.
Host real estate agent events
You don’t have to wait for other organizations to hold real estate networking events. Take the initiative and set one up yourself. You can organize a happy hour at a popular dining spot or an educational seminar with real estate professionals.
Building your recruiting funnel
Think of your real estate recruiting funnel as a lead generation tool, and use it to bring more agents under your brokerage umbrella.
Identify your sphere of influence
If you’ve been in real estate for over six months, you probably know dozens of agents already. Think about the ones you have a connection with and whether they’d be a good fit for your brokerage. Reach out to them and explain why you’re looking for agents and why you think they should consider switching to your company. If your friends in the business know you’re looking for top talent and already enjoy working with you, they may be happy to jump on board.
Leverage your MLS and local real estate schools
Your multiple listing service (MLS) system can be an excellent resource for real estate agents. Take a look at the performance of local agents and see if you notice any trends. For instance, a high performer who isn’t making nearly as many sales may be unhappy with their current brokerage. On the other end of the spectrum, someone constantly churning out sales may have outgrown their brokerage and want a new opportunity.
Real estate schools are also a great resource. While new graduates may lack experience, they’ll need support from a brokerage to start building a portfolio. Working on your team may be a good match.
Engage with your current agents
Your existing real estate agents have their own sphere of influence that may include realtors you don’t know very well. Ask your agents if they know anyone looking for a new brokerage who might be a good fit in your organization.
Segmenting your list and gathering data
Once you narrow down a list of real estate agent prospects from your recruiting funnel, you can start segmenting your candidates according to their experience, location, and other characteristics. Gather as much data as possible using multiple sources, including MLS systems, candidates’ websites, social media accounts, and other data.
One system that can help you in the research process is BrokerMetrics, a type of real estate recruiting software. It pulls agent data directly from your MLS system and provides helpful metrics, including prior number of transactions, production by dollar volume, and days on the market. That information can help you qualify potential agent leads for your team.
Keep your goals in mind during the segmentation process and establish metrics to help you compare realtor options and further segment your list. Some characteristics you might consider include:
- Time in real estate
- Any neighborhoods or niches agents specialize in
- Historical performance
- The extent and quality of marketing materials
Giving agents a reason to meet you
Real estate agents are busy people, and giving up their lunchtime or an hour for a coffee meetup cuts into the time they could use to show off new properties to clients. Find ways to make meeting you a compelling offer they can’t refuse. If you need a little inspiration, try these ideas:
- Attend their next open house
- Invite them to a career coaching session or mastermind session
- Host a cocktail party for local realtors
- Schedule an educational event and ask them to attend
Providing something in return for their time makes the recruiting process feel a bit more natural.
Creating a long-term nurturing plan
Interested realtors may not jump at the first offer to join your brokerage. They may need a little time to assess their options and decide whether a move makes sense. While they’re considering their options, stay in touch. Reach out regularly to see how they’re doing and reiterate your proposal.
However, find other reasons to contact them besides employment so they don’t feel like they’re being sold to. For instance, you might mention an upcoming event and encourage them to attend or let them know about a remarkable new real estate marketing tool you found.
When your lead decides it’s time to change brokerages, you can be sure you’ll be one of their top options.
Retaining real estate agents
As your team solidifies, you’ll need to turn your focus to retaining your team so other brokerages don’t succeed in poaching your top performers. Fortunately, retention may be easier than recruiting, particularly if you don’t give your agents a reason to leave.
Offer a simple transaction process
No real estate agent wants to spend hours documenting transactions. Invest in simple tools to facilitate client leads and transactions that don’t require a steep learning curve. Some examples include broker transaction management software and CRM systems.
Provide tools that increase agent productivity
Try not to burden your team with clunky software that doesn’t provide the features to manage their time. Look for productivity managers that easily allow agents to manage their real estate marketing calendars and simplify other processes, like building a real estate email list.
Offer motivating commission structures
Most brokerages offer flat fees or split commissions to the realtors who work for them. If possible, consider raising your commissions so realtors have an incentive to chase sales. Every successful transaction puts more money in their pocket — and in yours.
Recognize and celebrate agent success
Everyone wants to know when they’ve done a great job. Make a point of celebrating major wins your team accomplishes. Recognition is especially important for new agents building their reputation. Try giving public shout-outs on social media or providing a cash bonus for meeting a specific goal.
Inbound real estate recruiting
You don’t have to make an effort to attract new realtors constantly. Try turning the tables with an inbound lead strategy to encourage realtors to contact you. Realtors will naturally want to work for your firm if you have a successful brokerage since they know they can leverage your accomplishments.
Not sure how to recruit top real estate agents through inbound strategies? Here are some techniques that may work for you:
- Share pictures and videos of major accomplishments at your brokerage
- Offer masterminds and training sessions that provide real value to attendees
- Start a podcast to show your authority in the local real estate market
- Be a pillar of your community — volunteer and donate to local charities and nonprofits
- Show off some of the perks your team receives
The more you position your brokerage as the leading firm in your area, the more likely you are to attract people who want to work for you without actively recruiting them.
How to recruit real estate agents: Know their motivations
As a seller yourself, you know how important it is to speak to the customer’s motivations. Think of real estate recruiting as internal sales. Rather than selling a property, you’re trying to sell an agent on the benefits of working for you. Consider what would draw them into your firm and how you can set your brokerage apart from others in your area. When you know what real estate agents want exactly, you can offer it — helping to cement your brokerage as the ideal one to work for.
