Every brokerage needs to recruit agents. The challenge is, so do other brokers. Therefore, a broker needs to set themselves apart from the pack.
Sure there are the standard ways – a nice office atmosphere, plenty of support and commission splits, training, etc. But here’s the thing. If you are going to attract younger agents – Millennials – a broker needs to offer more. And they definitely need to cover one important area – technology.
Of course, every agent will want the latest in high-tech gear – a laptop, smartphone with a great plan, tablet and of course, a knock ’em dead website. Throwing in a drone is not a bad idea either. But what about real estate market data? And how can you use that data to help them generate leads? Which after all, is the name of the real estate game.
How to Recruit Real Estate Agents
Home Value Estimators
Might as well go to one of the most powerful lead generation tools right off the bat. Does your website offer a home value estimate tool like the big real estate portal that begins with the letter “Z?” Many experts will say that tool put that website on the map.
What’s great about being a broker today is that a home value estimator tool is also now available to brokerages on the local level. Large real estate data aggregators (such as Home Junction) have created their own AVM (Automated Valuation Model) software that a broker can instantly add to their website. These data aggregators also gather sales and other relevant data from similar sources just like that big real estate portal and are able to provide estimates for brokers in their local markets.
This is a BIG development for local real estate agents. For one, it puts them on a level playing field with the large mega-portals. Secondly, people prefer to do business with a local company. These consumers will realize that this local brokerage not only has the local market experience they need in an agent, but also now have the data tools to back it up.
It’s a powerful amenity for local brokers. In fact, in 2018, customers of Home Junction received more than 1 MILLION requests for home estimates. That home value estimator tool can also be a powerful magnet to attract agents. Because as we all know, when people continually come to a website to check out the latest estimates on homes, they place themselves in the sales funnel for future transactions.
Sure, initially many of the users will just be curious. But some, a homeowner for example, can become an instant prospect if they see their property value is now at an appealing level. This creates a window to ask for a more formal CMA. A great lead opportunity. An opportunity that will get the attention of agents you are trying to recruit.
Same with home buyers. They might be interested in a particular neighborhood and are constantly monitoring home prices. When they see a home in that neighborhood come on the market with a reasonable price, they will be more likely to jump on that offering.
Hopefully, you will have that prospect signed up in your database for your newsletter so when they are ready to act, they know who to call.
Real Estate Market Data API
Another way to recruit agents is with a real estate market data API. An API is basically software code embedded on your website that taps into a wealth of hyper-local and relevant data.
This tool can also create lead opportunities and opportunities for relevant and appealing social media posts. Show prospective agents how they can send market updates out on their social sites. Or how they can provide a complete package of Recent Home Sales, Charts on Trends in Home Prices, Neighborhood Demographics, etc. in exchange for a contact form.
Automated Real Estate Marketing
Let’s take the use of a real estate market data API one step further. When recruiting agents, a broker not only can show how all this relevant local property data will be available on their website, they can also show them a tool that will distribute this data automatically.
As we all know, keeping in touch with prospects is a chore. But an extremely important chore. In fact, only about 20% of agents do this on a consistent, regular basis that adheres to a strict schedule. But what if you told your recruiting prospects they can have their own personal, virtual “robot” that will do this for them?
With automated marketing programs such as Listing Leader, all an agent has to do is enter in the contact’s name and some details about the type of property they want. The program does the rest. The “robot” so to speak, will compile the latest real estate market data and place it into an appealing email format. That email will go out on a regular basis and also pull in the types of properties that prospects have expressed an interest in.
There’s more. The “robot” will also include links to mini-websites that will post other market data that is important to prospects. In fact, that robot will monitor prospects’ interest as well. So if the agent sees Prospect A is continually opening the email, perusing several listings and checking out the local market reports, they are very active in that sales funnel and need to be a top priority for that agent.
Not only does the robot send out important information, it also helps prioritize which contacts are “hot” and likely to make a decision. That’s a powerful tool. That’s a powerful magnet to recruit agents. In particular, that is powerful technology to attract the tech-minded Millennial agent who grew up with an iPhone attached to his or her ear.
Sure, the old techniques brokers use to recruit agents are still valid. Of course, there’s that personal touch and chemistry that will never go away. But this is 2020. Tech is a BIG part of the equation today.
Do you have the lead generation data tools to separate you from the others to recruit agents with the tech support they need to succeed?