Got a minute? If you're a busy manager, that's about all you have. That's why Carla Cross, management coach, speaker, and author, has created this blog just for you, with ready-to-use tips to master management through people.
Apr
24

Hire a New Agent? You May Have Just Lost $30,000

By

Did you just hire a new agent? What’s your success rate with agents? Do you know? Do you know how much it costs you when an agent fails? Most brokers dona��t realize they are doing irreparable damage to their companies by hiring those who arena��t going to go right to worka��and keeping those who wona��t work. Here are the 3 biggest consequences to poor selection I see.

1. Stops you from hiring great producers. Likes attract. How can brokers hope to hire that great producer when they have more than 10% of their office as non-producers? I can see it now. a�?Sure, Ia��ll come to your office. Ia��m a top producer, and I just love to be dragged down by those non-producers. It will be my pleasure to waste my time with them.a�? Not.

2. Kills your recruiting message.
Do you have a training program? Do you use it to recruit? Herea��s the real message: a�?We have a training program. All our new agents go through it. We dona��t get any results from the program, so it really doesna��t work. But, join us.a�? You cana��t possibly show how successful your training program makes your agents because your training program cana��t possibly get resultsa��poor people in and no actions and accountability required.

3. De-motivates your agents to provide referrals to you.
Your outcomes and hiring practices speak more loudly than you could possible speak. Why would one of your good agents possibly refer someone to you when your good agent doesna��t see those you hired starting right out and making money fast?

This Market Wona��t Cover Up an Inadequate Selection Process
In a fast market, a�?accidental salesa�� buoyed poor agents and made them look as though they were actually selling enough real estate to be a a�?mediana�� agent. When the market left, so did the agentsa�� a�?miragea�� of decent production. Now, brokers need to hire with purpose (using a stringent, professional interview process). Then, they need to put agents right to work with a proven start-up plan.

Please Tell Me What You Think
What do you think a non-productive agent costs the company? In my next blog, Ia��ll give you some line items that will probably double what you think a bad hire costs. Leta��s see what you think first. Poor hiring practices really, really hurts brokersa��both financially and emotionally.

What do you think? Should a broker hire anyone who walks through the door? Does your broker hire anyone who walks through the door?

Do you have your recruiting plan in place? Check out The Complete Recruiter, with a special price of $30 off ($99.95 this month), plus 2 bonuses, a $70 value. You can’t afford to wing recruiting anymore!

 

Leave a Reply