There is a time in every agent’s career when hiring real estate agents becomes necessary to leverage their time and work more purposefully. However, when you hire your first agent, the process may feel overwhelming as you juggle writing job descriptions, sifting through applications to identify a perfect candidate, and starting the interview process.
Start with the simplest task — assessing why you need to make your first hire. Ask yourself the following questions:
- Are you consistently closing three to four deals a month?
- Are you neck-deep in administrative tasks or managing the transaction paper trail?
- Are you struggling with managing work, family, and personal time?
These are all good indicators you are ready to hire your first real estate agent. Don’t wait to be buried in burnout before adding leverage to your business. Be proactive and grow your business strategically.
To prepare you, here are five pieces of guidance to get you headed in the right direction.
5 tips for hiring real estate agents…the first time
1. You have to need the leverage, not just want it
As a business owner, this mindset shift is an important part of the process as it sets you and your potential agent up for success. First, look at your pipeline and activities and ask yourself these things:
- Are you overwhelmed with administrative tasks?
- Do you have enough real estate leads to support the next month’s growth?
- Is it clear you need help maintaining the high quality of skills required for all activities?
- Are you so busy that it’s hard to maintain a high level of customer service?
If you answered yes to all of these questions, determine what you want to continue to handle and what you can delegate. Remember, this is also a learning phase. As you begin to onboard and train your new hire on how your business works and the technology you use, you’ll slowly shift some of your responsibilities to them so you can take on more of a leadership role.
While the business structure differs for each business owner based on their needs, start with one to two real estate agents. Have them handle a combination of your sphere touches, internet lead generation, home showings, and open houses. As they get up to speed on how everything flows, you’ll soon have precious time back in your day.
2. Value a gradual growth approach
Hiring multiple qualified candidates during the recruitment process is tempting, but you must not over-leverage yourself, or you may end up with an unnecessary hire. When interviewing potential candidates, ask questions that show how they align with the goals and values of your business to learn how they can:
- Offer core support and implement technical skills
- Take initiative with job responsibilities
- Help you scale the business in any market
When you understand what positive traits they offer, use that information to sift through your list of skilled candidates to sort out the bad hires and find the right person dedicated to helping you reach major milestones.
During the first few months with your new real estate agent, look for signs of grit, resiliency, determination, and soft skills like reliability and friendliness. Observe their growth, assess their performance, and discover what they bring to the table.
3. It’s not a hire, it’s a partnership
Hiring real estate agents is more than a path to achieving business goals; it’s about building long-lasting partnerships. With every agent you hire, regardless of their level of experience, your success is interdependent. On the surface, the partnership may seem focused on achieving a work-life balance, maintaining a high level of customer service, or hitting business goals, but the true value is how you get things done together.
4. Leadership growth benefits everyone
Adding leverage to your real estate business allows you to grow as a leader. This means leveling up your list of responsibilities and requirements, such as doubling down on your daily activities and production goals to support the level of success that retains a talented real estate agent.
Find ways to nurture your leadership skills through books, webinars, mentorships, or coaching. How you show up affects your relationships and, ultimately, your business. Lead by example, be consistent, and show up more as a guide and business partner.
5. Create realistic goals together
When you hire your first real estate agent, it’s easy to get caught up in the excitement and set a very high bar. During the first few months, don’t shoot for the moon. Instead, focus on getting new hires up to speed on your systems and processes with a goal for steady growth.
Once your real estate agent is comfortable with the flow of operations, have a more serious conversation about your goals and theirs. This conversation is essential to achieve long-term success together. It’s also a time to provide expectations for activities, communications, and intentions toward specific business activities and career goals.
Resetting expectations with the real estate market in mind is also important. Have a vision for where you want to grow, but also be open to stepping up and pivoting operations together, if needed.
Once you begin hiring real estate agents and building partnerships, you are well on your way to creating balanced support for your business and allowing everyone on your team to build rewarding careers.
PLACE provides you with the support you need to grow strategically
At PLACE, we provide hiring systems and onboarding support. We help you figure out where you need leverage in your real estate business, craft a perfect job description to attract the ideal candidates, and support you through the hiring process. To learn how PLACE can help you grow your business, fill out this form.
