15 July 2008

What’s Your Talent Attraction Strategy?

Posted by Wendy Forsythe

Whenever I meet with a manager or broker to discuss their growth plans and objectives, I always ask what their talent attraction strategy is. I often get a blank or somewhat confused look. Most brokers and managers are former agents, and one thing we are not known for is our diligent business planning and strategizing. So, it is no surprise that we carry that trait over into our growth plans when we become managers or brokers.

Here are some questions I ask to get them thinking:

  • What is your target incremental GCI goal this year from new agents added to your company?
  • How many agents will you have to attract in order to reach that target?
  • What methods are you using to generate inquiries from candidates considering a career in real estate and those already licensed?
  • How will you effectively respond, qualify and follow up with these inquiries?
  • Do you have a talent attraction presentation that is customizable to the candidate and their concerns and interests?
  • What strategies do you use to target and contact existing agents from other companies?
  • Does your value proposition differentiate between Baby Boomers, Gen X and Gen Y candidates?
  • What plans do you have in place to train and develop new agents?
  • How quickly will a new agent in your office make their first transaction (lisitng or sale)? How long has it historically taken other new agents?

Knowing the answers to these questions should help anyone in charge of attracting talent to their real estate office begin to formulate a strategy and plan.

You may have noticed that I haven’t used the word “recruit” up until this point. We’ve purposely choosen to remove that word from our vocabulary and replace it with “talent attraction”. I’ll explain more in a future blog.

In the meantime, we are counting down the days to our offical launch happening on July 23rd. You can view our live webcast at http://tinyurl.com/65lo82 at 8:30 AM PST

Happy Talent Attracting!  

One thought on “What’s Your Talent Attraction Strategy?

  1. RE: “Talent Attraction Strategy” by Wendy

    After serving as Director of Career Development & Director of Recruiting at two “Top 100- Billion dollar” RE firms, (both Realogy Brands) I LOVE the new language…. “Talent Attraction Strategy”.

    That is exactly what we are doing. Your article is right on the money about what we need to be asking ourselves to be successful growing our firms. Congrads on your BH&G launch. Wishing ALL of BH&G and your Brokers many successes.

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