Recruiting: Tips for Today’s Market and How It Will Affect Your Bottom Line

RISMEDIA, Dec. 11, 2007-Recruiting is the greatest example of your personal belief in our business. You’re not simply asking people to buy a home or list with you; instead, you are asking them to bet their lives on you, your company and this business. There is no other place in real estate where your level of commitment has to be fueled with pure integrity more than recruiting. Can your belief get any more revealing than this?

Why? It’s All About the Math

You are currently eager and willing, every day of the week, to pay 25%-35% for a sales or listing referral worth about $1,500 to $3,000 to the company dollar. You should be. But consider this: A new agent will contribute anywhere from $10,000 to $25,000 each and every year to your bottom line. Of course, don’t neglect your referral opportunities but, at the end of the day, do the math and get re-excited about recruiting.

In this troubled market, one of the few places left that will enable you to maintain your market share or increase it is recruiting. Even agents brand new to real estate are going to come with two to four potential deals already in their horizon. That’s one of the reasons people join our business. They are counting the potential money they already know about.

So What Is a Recruit Worth?

With a constant flow of recruiting leads from advertising along with client and/or personal database promotion, you will generate candidates if you are consistent. By the way, have you set specific goals for recruiting? Do you have a real firm number in your mind of what you expect? How many more agents will you have at this time next year? You will be amazed at just how accurate you will be if you remove all ambiguity and commit to a real number.

How Much $$ In Three Years?

Let’s be conservative. Depending on several factors, if you would have a net gain of three, five or eight agents each year, look at what the math gives you as a total three-year increase to your company bottom line.

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source: rismedia.com