It comes as no surprise that recruiting is one of the driving forces behind any CRE brokerage firm. What may come as a surprise, however, is just how difficult it can be to attract and retain quality talent. In fact, it is estimated that as many as 80 percent of real estate agents, industry wide, leave their agency or brokerage within 2 years.
Needless to say, this makes snagging top talent difficult for today’s brokerages. Let’s look closer at 4 ways to recruit top CRE talent to your brokerage…
- Focus on quality over quantity
Sales skills and techniques can always be taught — a winning personality can’t. It’s either there, or it’s not. Rather than hiring the first agents who come along, focus on finding and recruiting quality talent. Look for those applicants who take action, are problem solvers, and those who place an emphasis on customer satisfaction.
- Look for agents who are comfortable with and embrace technology
It’s no secret that technology is our future, and the commercial real estate industry is no exception. While it’s not necessary to specifically seek out and hire only younger recruits, it certainly doesn’t hurt to make sure that you’re hiring agents who feel comfortable wrapping their arms around new and emerging technologies. It will be much easier for these agents to embrace your technology-based tools and platforms that will help make their jobs easier.
- Encourage your agents to recommend talent
Think about it… no one better understand the culture of your brokerage and who would be a good fit for your team than your current agents. But asking your top talent to recommend others who will essentially become their competition can be, well, tricky. However, it has been proven that about half of companies’ top recruits come from referrals. So, how can you encourage your employees to recommend people they know for an open position?
The answer is simple: implement a referral program within your brokerage. Reward your employees for a successful referral.
- Provide flexibility in your work environment
Who wants flexibility in the workplace? Well, everyone really — but especially millennials (both men and women). Millennials now make up the bulk of the American workforce, so it is critical that industries keep up with their demands. Research shows that millennial CRE talent places an emphasis on being able to get away from their desk and experience freedom from the traditional 9 to 5 mentality. CRE, as a commission based job, is perfect for taking advantage of flexible work spaces and hours… and technology plays a key role in making this possible.
Look for solutions that put all of the technology tools that commercial real estate agents and brokers need into one portal or platform (including CRM, lease analysis, marketing, and a marketplace).
Putting the Pieces Together
When it comes to recruiting top talent for your CRE brokerage, it pays to be patient and think outside the box. Waiting on the right recruit, focusing on the quality of your recruits, and providing them with the right technology tools to do their job are the keys to successful recruiting.
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