Real estate is a ruthless and competitive business. Every month it seems a new agency emerges to compete for your property listings and the established customer base you’ve worked so hard to build.
No-matter how aggressive your agency’s marketing efforts, it can feel like a constant struggle to keep ahead in challenging times – especially when more and more property seekers are looking for a property bargain and more vendors are shopping around for a real estate agency who can bring in the big ticket sale.
Be the best to attract the best
Attracting the best real estate professionals to share the load and bring in new business is crucial to enable your real estate business to go from strength to strength. But how do you attract the best and the brightest? We’ve outlined some ideas for you below:
Before moving on to the big ticket drawcards, it’s important to not overlook some basic ways you can attract and retain top performing employees:
- Providing daily lunches, snacks and refreshments
- A quarterly office clothing allowance
- Individualised training and personal development plans
- A dynamic corporate culture, developed by your own team
- Reducing bureaucracy and empowering your team to make decisions
An attractive workplace
Your office environment also goes a long way. Up-to-date computers and a clean, modern office space will help emulate success in your agency so that you’re more likely to attract those who have similar standards. Your policies are important too: Top professionals generally look for flexible arrangements where they make their own hours and are judged solely on the business they bring in.
Offering immediate commission payment, as an alternative to waiting weeks for commission is an effective way to attract the top talent in your area. Paying out commissions immediately upon exchange positions you as the “agency of choice” when it comes to recruiting your real estate team.
Offering your team immediate commission payment may feel risky, but it doesn’t have to be. Partnering with a trusted company who can work with you to improve your cash flow through same-day commission payment is the first step – once your cash flow is guaranteed, making immediate payments is no longer a risk – it’s an investment in your future.
Weighing up opportunity cost
Recruiting team members that don’t fit the bill is a costly exercise. Statistics show that the average cost for a poor hiring decision is about 3.5 times the salary involved – you may already know this from past experience.
Enabling immediate commission payment is a cost-effective and stress-free alternative to hiring under-par real estate agents. Aside from the many other benefits a cash-flow injection can bring, offering the best package attracts the best talent, and that’s a recipe for future success and prosperity.
Could your real estate agency use immediate commission payments to attract top talent into your team? Let us help.