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  Featured Author
How to Make Your Company Number One in the Marketplace

Judy LaDeur
Forum Recruiting Solutions, Inc.

Judy LaDeur
Forum Recruiting Solutions, Inc

Many real estate managers spend the bulk of their valuable time on problem-solving and production issues. In my work, as a consultant with companies around the country, owner/managers who focus most of their attention, time and energies on recruitment and retention will dramatically increase their market share as well as their profits--especially when their focus is on the recruitment of experienced agents. 

Here�s why the recruitment-first, problems-last principle pays off: For every production problem you work on, you increase your market share by one transaction. But for every agent you recruit away from your competition, you increase your market share by the amount of that agent�s annual production and at the same time, reduce your competitor�s market share by the same amount.

Consider this: if you recruit one $2 million agent, you increase your bottom line by $2 million and you reduce your competitor�s market share by $2 million. In addition, you�ll increase your market position by $4 million. Recruit ten $2 million producers over the course of a given year, and you can increase your market position by $40 million. What if you increased your market position by $40 million every year? Many of the brokers who are in our coaching program increase their market position by $50 million to $100 million every year. The stronger your market position, the easier it is to recruit and retain the agents you want. Also, it is also easier for each of your agents to increase their income.

If you can increase your market position by $40 million each year, you will generate more agent excitement and enthusiasm, more signs, more calls, more listings, more opportunities to increase business and much more profit you. Furthermore, many problems would disappear in this go-for-growth environment because many daily problems you encounter are by the wrong agents or by low producing agents.

Systems That Attract Experienced Agents

To attract experienced agents, you need to establish a relationship with them so that when they decide to make a move, you are the one who comes to mind first. You can start by developing and sending out a series of personalized letters, each focusing on one unique aspect of your company--whether it�s market share, compensation, technology, marketing and support, or your management style. Then, follow up each letter with a phone call to see if the agent has any interest in the system you are calling to tell them about. If so, close for an appointment, if not, call them next month about a different system. Recent studies show your support and your talent to support their ability to earn more money easier are aspects top producers look for in a company.

An opportunity to recruit also arises when an experienced agent loses a listing to one of your agents, especially one who is less experienced. First, send out a target flyer to the agent who lost the listing touting the benefits of joining your company. Follow up with a phone call, emphasizing the point that it was not the agent�s fault that they lost the listing, but the selling systems and opportunities your company offers were judged to be superior by the seller. This helps creates the perception that it may be time for the agent to change companies. Plus, whenever they lose another listing to your company, they will be thinking, �If I were with the other firm, I wonder if I would have got that listing?�

Agents who feel they have reached an income plateau can be very easily convinced that by changing their environment and incorporating additional systems, they can break through their current plateau and increase their income by an additional $30,000 to $40,000 each year. (Keep in mind each transaction they can have as a result of your systems could be worth $2,000 to $5,000 each based on your average sales price.)

The key is to determine which systems you have that their company does not have. Then, determine which systems they feel would enhance their ability to do business. Ask them how many additional transactions each system would generate for them. Add up the total number of transactions they could have with your firm, as well as the additional income.

Remember, most agents don�t leave for more money. They leave because they are unhappy. However, after they become unhappy, the potential to earn money does play a significant role in their decision to choose their next firm, so your ability to build value is very important.

  

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