Getting Some Recruitment Muscle in Commercial Real Estate Brokerage
In commercial real estate brokerage today you need some ‘recruitment muscle’ to attract the right people to your business. Great sales people and top agents are at the centre of a successful agency or brokerage.
When it comes to appointing new people to sell, lease, or manage commercial property, there are various strategies to deploy. Here are some of them:
- You can grow the skills and the knowledge from within the team currently. A junior agent can be encouraged to grow their skills and their market share through training and development. If this process is attractive to you, then it is best to match up the junior salesperson to a more senior and successful agent or broker. This then underpins the learning curve for the new person.
- You can find new people that are fresh to the industry looking for a new career. There is a lead time to this process, and it can take quite some time for the new person to build reasonable market share and income. They will need an incubation period and the learning curve to support their personal growth.
- You can attract top agents and brokers from your competitors. There will always be the opportunity of attracting high quality agents and sales people from the competitors. Over time you should be meeting with the right people to encourage and strengthen the personal relationships.
- You can merge any sales or leasing territory into the existing staff numbers without employing new people. Whilst this is a strategic move, your choices here should be based on the levels of work and the projections on future market share. You also need to understand the available skills within the existing team.
So there are some variables here when it comes to employing new people. If your brokerage is to be successful, the choices that you make are critical to the market share and the territory that you work.
To build the recruitment muscle mentioned earlier, you need some points of employment attraction. In commercial real estate brokerage today those factors will usually be a mixture of the following:
- Commission and income opportunities
- Administrative support
- Marketing profile and systems
- Territory domination
- Education and training
- Team interaction and support
- Agency and brokerage branding
- Current team dynamics and cooperation
If you want to keep the good people that you employ now within your agency, it is wise to consider these factors and improve them where possible. If you want a attract new people to your agency or brokerage, then the same rules will apply and your recruitment strategies should send a clear message regards the advantages of working within your team.
