Identify other leaders to start recruiting agents in groups?
I’ve recently shared few videos that build upon this concept of recruiting agents in groups.
- How To Grow Your Organization
- Your Two Rosters
- The Informal and Formal Leaders
I’ve covered these other areas, now lets go over to recruiting agents, the attraction process. Identifying on that second roster those informal and formal leaders. Now that we have identified them, what’s the purpose? The purpose is recruiting agents in groups; certainly you are making your calls, and your doing your follow-ups, and your interviews, and the one-on-one day-to-day recruiting process but it’s kind of nice when you bring a big group of agents over. The way that we do this is of course having that relationship with that formal leader, that informal leader, so that if something changes you are the destination broker.
So now we come to that space where they have expressed a trust in you, a desire to be a part of your organization. So we put a business transaction together, and here’s what it looks like. It goes a little bit against what I talk to in my philosophy of keeping money out of the recruiting process, yes it’s there but we don’t want to lead with it. In this case it becomes a little bit more evident because what’s going to happen is they are going to bring over a group of agents they’re going to have a huge impact on your organization. Instant inventory, instant energy, you are going to raise the IQ of your organization immediately by bringing quality human resource over.
So what we do is take that informal or formal leader and create a business transaction that looks like this, I call it the 10-8-6. So in year one all the agents that walk over with that leader; as they close transactions, that leader get’s 10% of the retained dollars you experience from those agents. Now the agents that walked over stay with our organization; year two, your going to pay that leader 8% of the dollars and year three 6% of the dollars.
By recruiting agents in a group here is what’s going to happen. It gives you a built in assistant manager that you are not paying a salary. They don’t want those people to leave because they get compensated based on the closings. They are going to contribute, they are going to be a team player.
Here is what’s taken place, you have moved a huge group of people over to your office, you’ve had a great impact on the market from a perception. Keep in mind this perception is a reality. The rest of those agents that are on that list from other companies, you know that second roster that are eventually going to join you. You’re going to have incredible credibility.
So not only are you moving this group of people over, and you’re basically paying nothing, you’re using dollars that you didn’t have. You’re using dollars that are coming in as revenue and you’re paying a percentage back out. It’s a very simple equation.
By recruiting agents we’ve built credibility with our own agents too because they see we are prospecting and are growing the organization. You know we have the same theme; as a leader the theme is growth, as an agent the theme of their business I hope is growth.
Now we take it a step further and we go out to the agents that we’ve been recruiting, that we have been in contact with that we are looking to join us eventually and we follow-up with them, and they know what’s going on. What’s going to take place is impact and our responsibility as a leader is to continually have an impact in the market. If you have impact you will continue to experience growth.