Real estate is changing at an ever faster pace, so it’s super important these days to ensure that you have the best team at your side to keep up. With technology, online competition and the market picking up steadily, you’ve got to be prepared and follow a plan of growth that makes sense for your business. So how do you know if it’s time to start recruiting fresh talent for your real estate team?
First, you have to look at the current state of your business. Some good questions to ask yourself:
- What would we consider our primary business area and can we grow it? The answer to the first question is in your numbers, and the answer to the second is if you’re team is able to handle the business coming your way. If you find that your team is stretched thin with the amount of business in that area, then it is definitely time to look for new real estate agents to help capture it. If you see the potential in your area for further business and know that you have the tools and knowledge to go after it, then all you may need is more faces.
- Is your real estate team lacking a bit in diversity, specifically younger agents? Younger agents, especially the millennial set, have a fresh perspective that they can bring to the table. In addition, they likely have an expansive network of friends who are in the market to sell or buy their first homes. Younger agents, whether green by experience or by age, are also moldable, so you can train them in your methods and develop them from the ground up.
- Are you looking to tackle a new community? Then this is definitely an opportunity to hire new agents. Whether a new neighborhood is cropping up or an area in transition is starting to see a steady growth in sales, you should be there. Having the right agents who either know that area well, live in it or have the tenacity to tackle new forays can help your team make its mark outside of your current market.
- Has your real estate dwindled in the past year? Then it’s time to hire someone new. This might sound like a no-brainer, but when life gets busy, especially in the world of real estate, finding new recruits might sit on the backburner for longer than you’d intended. Run the numbers to give yourself a clear picture of just how much you could be gaining by having additional real estate agents working with you.
Life events happen from time to time, so it’s never a bad idea to be on the lookout for future team members for your real estate team. Pay attention to agents that tackle areas that you may be interested in venturing into or that may be looking for a change. Host real estate lunch-n-learns or happy hours to get to know real estate talent in the area and earn their trust. Your marketing should also reflect as much what you can do for clients as what you can do for agents by showcasing your culture, success and even who’s on your team. Stand out, and when you’re ready to do your search, it will be a lot easier to find a great match.