Agent Management - Agent Recruiting Overview

This page is overview of Best Agent Business Client Talent Management's Recruiting services to recruit Agents and office staff.
Version: 11/6/14 by Steve

Recruiting needs to be an ongoing system for your business. In the long run, this will make your business more consistent and steady and reduce your long-term recruiting costs. It is very hard to think of recruiting as a system when you are at baby stage of just wanting one more Buyer's Agent or your first Showing Agent. You need to think long-term.

Best Agent Business helps top teams and brokerages with Recruiting for Buyer's Agents and Showing Agents. We can run the entire system including database of agents, emailing, calling, mailing, processing interviews, and helping with new agent system. Our clients for recruiting are usually a growing agent seeking their first Buyer's Agent or Showing Agent, a team with a few agents, or brokerage with 10-200 agents.

Recruiting Overview

Target Agents

  • Recruiting Analysis - Information Needed from Client
  • Database - Target Agents
  • Emailing Agents
  • Calling Agents
  • Emailing Agents - Recruiting video sent to Recruit B & C see: Recruiting Video
  • Mailing Agents
  • Interview Process
  • New Agent System

Please answer the following questions and provide information requested. We need this to get started.

  • Immediate Needs
  • How many agents do you want to recruit ASAP within next 90 days?
  • How many agents do you want to recruit this year (next 12 months)?
  • Why Join Your Team/Brokerage?
  • What are top three reasons that an agent would decide to join your team?
  • Please note, the reasons must be different than other choices they have in marketplace.
  • If there are no reasons that are unique to your team, that is okay and just state that.
  • Recruiting and Compensation Information
  • Provide any previous recruiting emails, scripts, documents used for recruiting agents and tell us what you like or do not like about them.
  • Provide current agent compensation overview and agreement that new agent would sign.
  • Target Performance - Buyer's Agent
  • Buyer's Agent: What is target performance in terms of deals per year for an average buyer's agent recruit? Do not give a wish goal or a number which seems to be always higher than reality. Give a realistic conservative number.
  • What is average commission check? What is total GCI for agent based on deals per year?
  • Value of New Agent
  • This is hard question but worth thinking about.
  • If you could just spend $X to get a new agent to join your team, what is amount you would spend per agent?
  • How did you arrive at that number?
  • Recruit Referral Bonus
  • We like to have a structure to offer a recruiting bonus to your staff or to other agents if they refer someone you end up hiring after they close their first 3 deals.
  • What amount of money do you propose to offer referral bonus?
  • Target Agent Yield
  • For 10 agents that are recruited and hired, how many do you think will still be working with your team one year later?
  • This number/percentage helps us calculate recruits needed.
  • Team/Brokerage Overview
  • What is your current structure of team/brokerage and staffing?
  • For each current agent, provide some background of when they started with you, how many deals they are closing per year, are they working full-time or part-time, and whether you rate them A, B, or C in terms of performance.
  • Brokerage Competitive Analysis
  • Please send MLS totals of agents by brokerage.
  • Which brokerages are business models are you most likely to succeed to recruit from and why?
  • Which brokerages are less likely and why?

===== Value to Recruit New Agent - Billion Dollar Agent Analysis

This is our example of one approach to calculate the value of recruiting one new agent.
You can do the calculations with your numbers and tell us your answers.

  • Average sales price: $200,000.
  • Average commission check: $6,000.
  • Average deals per agent (be conservative): 20 deals.
  • GCI per agent: $120,000
  • Net profit percentage on Buyer's Agent: 30%
  • Net profit in first year for agent: $36,000.
  • Number of agents to hire to get one solid agent Year 1: Hire 2 agents to get 1 agent.
  • Net profit per hire: Net Profit/Hires = $36,000/2 = $18,000.
  • So, each agent recruited may generate $18,000 of net profit.
  • Based on this, you may want to invest/spend up to $5,000 of external costs with Best Agent Business, marketing ads/mailings, and your recruiting time in order to hire one agent.

We can help gather agent lists and sources or review your lists. We work with you to code database

  • Exclude - agents not to pursue or recruit
  • Brokers - most all or specific who run brokerages
  • Brokerages - may mass exclude certain brokerages
  • Toxic - avoid toxic agents or agents you do not want
  • Include - agents already in process
  • Hot leads you have been speaking with as Recruit Agent - A
  • Warm leads you have had some interaction or your agents have had interaction as Recruit Agent - B
  • Codes
  • Recruit Agent - Target: Agents who we want to recruit and need to email and call to reach live
  • Recruit Agent - A: Hot lead, met with, hope to sign with team within a month
  • Recruit Agent - B: Warm lead, had phone call or some interaction - touch base monthly
  • Recruit Agent - C: Neutral lead, spoke live, did not request removal or dead lead - touch base quarterly
  • Recruit Agent - Dead Lead: Spoke live and no interest by recruit.
  • Recruit Agent - Excluded: Excluded from any recruiting. Leave in database to make sure not pursued. Either excluded from the start or during interview process.
  • Introduce team/offer before calling
  • Sent after voice mail 1, voice mail 2, voice mail 3
  • Sent after live answer
  • Monthly emails with testimonial and theme
  • Cold call intro and offer
  • Calls to Recruit Agent - ABC leads.
  • Gather home address on first call or database license information.
  • Only mail to home address.
  • Never mail to office address
  • Phone Call with Client
  • Meeting with Client
  • services/client_talent_management/agent_management_-_agent_recruiting_-_overview.txt
  • Last modified: 2018/07/21 17:40
  • by raquelmartin