Do you want to know the 11 ways brokers can recruit real estate teams?
Real estate brokers know the importance of recruiting and retaining agents when it comes to running a profitable real estate brokerage.
In order to stay in business, real estate brokers need to recruit agents. Not only does this ensure that they have the talent in place to create enough duplication and scalability for their business, but it also helps them to be more profitable.
Recruiting a rockstar real estate agent can be one of the best things a broker can do to grow their company. But recruiting an entire team of real estate agents is like hitting the jackpot.
A team of real estate agents can help to bring in a lot of business, and the more business a broker has, the more money they stand to make. Of course, recruiting an entire team of agents is not always easy. It takes time, effort, and often a substantial amount of money. However, for brokers who are willing to put in the work, the rewards can be well worth it.
Are you looking to recruit more real estate teams to your brokerage? If so, you’re in luck! In this blog post, we will give you 11 brilliant tips that will help real estate brokers recruit entire teams to their company.
Keep in mind that not all of these tips will work for every brokerage – it’s important to tailor your approach based on your unique situation. But, without further ado, let’s get started!
Table of Contents
11 Brilliant Ways Brokers Can Recruit Real Estate Teams
1) Create a Culture of Success
2) Offer A More Lucrative Commission Split
3) Offer Real Estate Training and Resources for Their Agents
4) Provide Access to Health Insurance
5) Freedom
6) Reduced Caps for Agents on Teams
7) Access to Advanced Technology and Business Suite
8) Outsourcing
9) Potential for Growth and Expansion
10) Ownership in the Company
11) Retention Tools and Resources for Team Leaders
1) Create a Culture of Success
If you’re looking to recruit more teams to your brokerage, the key is to create a culture where everyone wins. That means ensuring that both team leaders and their agents have the resources they need to succeed and providing incentives for them to work together.
2) Offer A More Lucrative Commission Split
In order to recruit entire real estate teams, real estate brokerages must be able to provide already successful real estate leaders with an incentive to make a business change. One way to do this is by offering team leaders extremely competitive commission splits and lower fees.
By doing so, brokerages can attract more teams to their business, which can lead to increased sales volume and market share. In addition, by offering lower fees, brokerages can save money on overhead costs. As a result, this strategy can be a win-win for both brokerages and team leaders.
3) Offer Real Estate Training and Resources for Their Agents
Real estate team leaders want their agents to do well for a number of reasons.
For one, it reflects positively on the leader when the team succeeds. Additionally, agents who do well tend to be more engaged and motivated, which can lead to even more success for the team.
Because of this, team leaders are always looking for ways to train their agents more effectively. This might involve bringing in outside experts for seminars, providing one-on-one coaching, or simply being available to answer questions and offer advice.
By taking the time to invest in their agents, team leaders can create a cycle of success that benefits everyone involved.
If you want to attract real estate teams to your brokerage, providing their agents with a top-tier training system is one of the most attractive aspects for a team leader.
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4) Provide Access to Health Insurance
Real estate agents are often independent contractors who don’t have access to employer-sponsored health insurance. This can be a major financial burden, as health care is increasingly expensive.
For brokerages, providing health insurance to team leaders is a great way to recruit and retain top talent.
Not only does it show that the brokerage cares about its agents’ well-being, but it also helps to level the playing field between large and small firms. In an increasingly competitive market, offering health insurance is a great way for brokerages to attract and keep top talent.
5) Freedom
When it comes to leading a real estate team, many experienced agents crave freedom. They want the ability to make their own decisions about marketing and branding, without having to get approval from their broker every time they want to make a change.
This can be a challenge for some brokerages, who are used to having tight control over their agents’ marketing efforts.
However, if you want to attract teams to your brokerage, it’s important to give them the freedom they crave. Allow team leaders to make their own decisions about what branding and marketing strategies to use. In return, you’ll get a team that is more motivated and more invested in their work – and that will ultimately lead to more success for your brokerage as a whole.
6) Reduced Caps for Agents on Teams
Some real estate brokerage typically imposes a cap on how much commission they take from an agent each year from commission splits. This is done to keep expenses in check and ensure that the brokerage is profitable while allowing top-producing agents to enjoy earning more commissions as they make more sales.
However, this can also have unintended consequences for team leaders. After all, why would a team join a brokerage if it means that they would be earning less commission? To address this issue, some brokerages are now giving team leaders reduced caps on their agents’ commissions.
By reducing the cap for the amount of commission an agent on a team must split with the brokerage, they are able to earn more GCI on each sale every year, which means there will be more commission income to split with their team leader.
This allows the team leader to keep more of the commission when their agents make a sale, making the position more attractive to prospective recruits. As a result, by giving team leaders a little more leeway, brokerages can actually end up attracting more business.
Recruiting top talent is essential for any business looking to stay ahead of the competition. Want to solve your recruiting problem and partner with the fastest growing brand in real estate today? Click Below to Learn More!
7) Access to Advanced Technology and Business Suite
If you’re a real estate broker looking to recruit a successful team, it’s essential that you provide them with access to team-oriented technology.
The right tools will help team members stay organized and connected, while also making it easier to collaborate on projects.
By giving your teams access to the latest real estate technology, you’re sending a clear message that you’re committed to their success.
In addition, team members will appreciate being able to work with cutting-edge tools that make their job easier. When it comes to recruiting and retaining top talent, making sure your team has access to the best technology is an essential first step.
8) Outsourcing
As the real estate industry becomes increasingly competitive, brokerages are looking for new ways to recruit and retain top agents.
One way to do this is by offering team leaders outsourcing tools that can help them run their business more efficiently.
By providing access to employees, marketing services, and transaction management platforms, brokerages can give team leaders the resources they need to succeed.
In addition, brokers who can offer turn-key solutions that include everything from a lead generation platform to access to an entire staff of administrators for support will be able to attract real estate team leaders who are looking for a complete package to run their business more smoothly.
By offering these kinds of services, brokerages can stay ahead of the curve and build a stronger foundation for future growth.
9) Potential for Growth and Expansion
If you’re a broker who wants to attract teams to your firm, it’s important to offer the potential and opportunity for growth.
Teams want to know that they can thrive and expand within your brokerage. By providing the necessary support and resources, you can create an environment where teams can not only survive but thrive.
When teams feel like they have the potential to grow and expand within your brokerage, they’re more likely to commit to a long-term relationship.
This is because they know that you’re invested in their success and are willing to do what it takes to help them reach their goals.
Real estate team leaders become team leaders for a reason, and that is to build a business outside of their own production. If your brokerage offers a system where a team leader can exponentially increase their team’s growth, then you will have be able to add tremendous value to a team leader’s business and recruit them to your company.
Recruiting top talent is essential for any business looking to stay ahead of the competition. Want to solve your recruiting problem and partner with the fastest growing brand in real estate today? Click Below to Learn More!
10) Ownership in the Company
If you want to recruit entire real estate teams to your brokerage then you need to be creative.
Team leaders generate their brokers a lot of business and usually don’t like to move around because they are accustomed to the way they run their business. If you are a smaller or independent brokerage, it can be difficult for you to compete with larger franchise brands like Re/Max and Keller Williams to recruit teams.
One of the most innovative strategies is to offer ownership in the brokerage. By giving agents and team leaders a stake in the business, brokers can encourage them to work harder and be more committed to the success of the company.
In addition, ownership can provide team members with a sense of pride and satisfaction that comes from being part of a successful business. As a result, offering ownership in a brokerage is an excellent way to recruit and retain top talent.
11) Retention Tools and Resources for Team Leaders
In order to have a successful team in the real estate business, it is essential to keep team members motivated and working together towards common goals. However, this can be difficult to do when team leaders are constantly facing attrition issues and losing agents.
A real estate team leader’s number one problem is attrition. As real estate agents on their team grow into successful productive agents, they tend to leave their team leaders for better commission splits and more opportunity.
This has been an age-old problem for team leaders in real estate and one of the many reasons why real estate team leaders never actually see the sustained success they hope for when they first started their teams.
One way that real estate brokers can help to address this issue is by providing teams with tools to retain their agents. This might include offering free marketing resources, providing training and development opportunities, ownership in the company in the form of stock awards, or even a revenue sharing model where team leaders can benefit from the production of their team members without taking an additional split on their commissions.
Conclusion
These are just a few of the many ways that brokers can recruit real estate teams. By offering the right mix of incentives, tools, and resources, you can create an environment where teams can not only survive but thrive. When teams feel like they have the potential to grow and expand within your brokerage, they’re more likely to commit to a long-term relationship.
What other strategies do you think would be effective in recruiting teams to a brokerage? Leave a comment below and let us know what you think!
Recruiting top talent is essential for any business looking to stay ahead of the competition. Want to solve your recruiting problem and partner with the fastest growing brand in real estate today? Click Below to Learn More!