About the Author
As a speaker, strategist and consultant on solo-preneur, sales-based business and real estate topics both nationally and abroad, Jonathan Nicholas feels his driving purpose in life is to “improve other people’s lives.” This enduring purpose requires him to be a change master to those he engages through his entertaining and motivational style. His talents as a catalyst are sought out by those looking for new insight, and methods to overcome the status quo. Nicholas is a frequent contributor to the national media including: The Wall Street Journal, Money Magazine, Chicago Tribune, This Old House, Bankrate.com and Real Estate Business magazine. Nicholas serves as the President of the Council of Real Estate Brokerage Managers (CRB) and on the Board of Directors for the National Association of REALTORS®.
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June 2nd, 2008 •
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I recently had the opportunity to debrief a few sales associates in the course of conducting some research and intelligence on a nearby competitor. This competitor is a fierce recruiter that is known for their emotional recruiting tactics and close-knit family style. They have enjoyed decent agent growth due to their taking advantage of a disruption in a couple of other companies. In short, they are doing exactly what any good recruiting, expanding and growth-oriented company should be doing. They’re keeping a close eye and open ear in the marketplace.Over the last couple of weeks our brokerage has recruited back a couple of the agents we had lost to this competitor, plus we were able to pick up a few more that had become disillusioned in their experience at the company. It didn’t take long to see that there was a pattern and common theme with the experiences of all these associates while affiliated with this innovative competitor.
Here’s what we heard from these agents:
1. They were all passionately pursued, masterfully sold and thoroughly excited.
2. The honeymoon period lasted about 4 months.
3. They figured out that they were just another agent, in an everyday firm.
4. “Why was it we came here again?”
5. A bunch of promises, no meat.
6. Management was too busy recruiting, so they had no promised support.
7. Major pressure to help the firm recruit.
8. The firm had two types of agents: existing agents and recently recruited.
I could go on and on about what the agents said, but bottom line, their experience didn’t line up with the sizzle of the sales pitch. A very good opportunity for us to each take a look at our brand and company promise in our recruiting presentation to make sure that we are indeed delivering on our claims. Think about that for a moment.
However, the bigger “aha” for me was the realization that this company has failed to remember and implement the “romance factor.” They were excellent at romancing and pursuing the agent in the recruiting process, they were even good at getting the agent to the altar. What they failed to do was maintain the romance after they were a part of the family. It was like watching a new couple with all the potential in the world slowly drift apart because there were no ongoing maintenance efforts such as: keeping commitments, writing a little note here and there, the total loss of affection and emotional support. Don’t laugh at the analogy; it’s the truth.
Ask yourself this question: “Am I recruiting my own agents as passionately as I recruit prospective agents?” Upon further research I wasn’t surprised to learn that this company has one of the highest attrition and churn rates in the marketplace. Every time they recruited two agents, one was walking out the back door! Why? For the reasons stated above. When was the last time you checked your firm’s proverbial back door? Romance your agents and you’ll effectively keep it locked, barred and closed!
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