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Why Bad News for the Real Estate Industry May Be Great News for Recruiting—Part 2

Last week, I started a discussion on the historical price trending in the real estate industry.  I highlighted  a recent interview that was done by Robert Shiller on Bloomberg television. 

The interview centered on the notion that home ownership has historically been a mediocre or poor investment.  In his opinion, treating it as an investment was a  “fad” based on short-term economic conditions that probably will not happen again.

Wow…did I get an earful back from several of the WorkPuzzle readers! Apparently, many of you don’t care for Dr. Shiller (in general) and did not find his analysis very thoughtful. 

Here is part of an email I received shortly after publishing:

“…to think that [drawing the conclusion that] this real estate cycle, however severe, will change these longer term trends is a rush to judgment. I’ve always found Shiller coy, playful, and not entirely serious in the way he comes across. Or so he seems on TV.  His index was full of bubble markets and, I always felt, distorted (and made worse) the perception of real estate in the 34 states that were not bubble markets.”

Here is another one:

“…the problem [with Shiller’s analysis] is it ignores rents, or imputed rents.  Over time, rents rise, but housing debt service is more or less fixed.  Eventually, when the house is paid off, you live there 'rent free.' No matter what, you’re paying rent, either to your landlord, or to yourself.  Yes, you have maintenance, taxes, and so forth, but so does a landlord.  And you get the psychic reward of owning your own place, and can do what you want with it.

I can’t believe a smart guy like Shiller doesn’t get this.  Compare the net worth of homeowners and non-homeowners…there’s no comparison, and the house is a big part of that.  Sorry for the rant, but seeing a knowledgeable guy like Shiller run down housing just frosts me.”

There were several other good points as well.  I’m glad I prefaced my original introduction with the statement “I’m not a real estate expert…”   I think that I've proven that to be true, and it appears that some of the talking heads on television may not be experts either! 

It’s certainly good to know that it's not all doom and gloom for the real estate industry.   That’s encouraging.

So, what does all of this have to do with recruiting?  Suprisingly, it is what I initially found interesting is the historical housing price graph above.  There is great news in this data.  And, there is especially great news for real estate companies focusing on “new to real estate” recruiting in the future.

Regardless of whether you ascribe to Shiller’s vision or the more hopeful scenarios outlined by many of our readers, I think there is a consensus that what happened between 2000 and 2010 will probably not repeat itself (at least not in the short-term).

It is much more likely that the graph will either flatten out to the right or begin a slow and steady rise that keeps pace with inflation.   As one reader put it,

“…all the talk was about how real estate may never be any good again, because it will 'only' appreciate at about the rate of inflation.  It’s SUPPOSED to only appreciate at the rate of inflation.  It’s a consumable…someone has to be able to afford to live there to rent it.  If it appreciates faster than people’s incomes, it becomes unaffordable, and we just saw what happens when that happens. “

That makes sense.   And if it’s true, then this recruiting principle will help you be successful in the future:

Recruiting is most effective in stable markets.

This idea may seem counterintuitive, but it’s definetly something that goes through the minds of talented candidates as they consider changing careers. And this principle has already had a profound effect on real estate recruiting over the last 10 years.

Think about it--if you were attempting to recruit between 2000 and 2006, it was much easier to get warm bodies in the door, but it was difficult to hire the right people.  What drew many of these new hires into the industry was a “get rich quick” mentality.   These new hires not only left when the easy money dried up (more than 600,000 agents left the real estate industry between 2006 and 2009), but also they caused disruption and harm to many organizational cultures along the way.

Of course, hiring “new to real estate” agents during the backside of the real estate bubble (2007 to 2009) has been very challenging.   While the press constantly paints a negative picture of markets undergoing correction, talented individuals naturally shy away from the turmoil. 

So, where does that leave us now?  For the past couple of years, there seems to be some stabilization happening.  As we move to the right on the graph (the future), many experts are suggesting (Shiller included) that we may be in for a period of slow and steady growth.

Here is the recuting lesson to take from this discussion:  Slow and steady growth is the ideal environment for hiring “new to real estate” agents. 

How do we know this?  We've seen it with our own eyes.  As we consult with real estate companies we constantly see truly high-quality agents who have been with companies over 15 years.  When did those new agents come into the industry? During the previous period of stability.

As you know, it’s difficult to predict the future.  However, if there is a sustained period of slow real estate growth ahead and the real estate industry experiences the retirement of many of it’s mature agents (those 55 and older now), there could be a perfect storm brewing (in a good sense) in the world of  “new to real estate” recruiting. 

I think we’d all enjoying seeing that happen.  Make sure you're prepared to take advantage of it.

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. 

Why Bad News for the Real Estate Industry May be Great News for Recruiting

As real estate buffs, I’m sure most of you are familiar with Robert Shiller’s work.  As you may recall, it was Dr. Shiller’s infamous book, Irrational Exuberance, that accurately predicted the bursting of both the dot-com stock bubble and later the housing bubble.  The first edition of his book was published in 2000, and the second edition (that focused more on the housing market) was published in 2005.

Since Dr. Shiller predicted the collapse of these bubbles (especially the housing bubble) so accurately, he has risen to “prophet status” in the minds of many media pundits.  At least once a month, it seems I read an article where he is cited as the expert on what the future holds for the real estate industry.

Most of the prognosticating, seems to center around some form of the chart below:

While there are many different ways to present this historical housing data, most of the discussions, with Dr. Shiller focus on the right side of this graph.   “ Are we at the bottom of the market?” “Will housing prices return to their previous levels?” “Will housing prices now follow a more traditional trajectory?”etc.

After watching a number of these interviews, I’m starting to think Dr. Shiller is getting tired of these questions.  This is especially true for the interview I saw last week on Bloomberg television.

At one point, the interviewer (Trish Regan) challenges Dr. Shiller’s lack of enthusiasm for the most recent housing stats that suggest a rebound may have started.

“"Then why buy a home?" she asked. "People trap their savings in a home. They're running an opportunity cost of not having that money liquid to earn a better return in the market. Why do it?"

"Absolutely!" Shiller exclaimed. "Housing traditionally is not viewed as a great investment. It takes maintenance, it depreciates, it goes out of style. All of those are problems. And there's technical progress in housing. So, new ones are better."

"So, why was it considered an investment? That was a fad. That was an idea that took hold in the early 2000's. And I don't expect it to come back. Not with the same force. So people might just decide, "Yeah, I'll diversify my portfolio. I'll live in a rental." That is a very sensible thing for many people to do."

Notice what he said about viewing housing as an investment—he clearly believes “investing in housing” (for the purpose of getting a financial return) is a bad idea.  He goes on later in the interview to show that the real return on a housing between 1890 and 1990 amounted to a 0% return. 

You’re welcome to watch the whole interview here (be warned, it’s about 10 minutes long):

 I’m certainly not a real estate expert, but this seems like a major paradigm shift for the real estate industry, and possibly for society at large. 

Ever since I bought my first home 15 years ago, I’ve heard and believed that my house was a good investment.   While that has personally worked out well for me, the future will likely be very different for those who are buying homes today.

If we relook at the housing graph that we considered to start this discussion, it seems that Dr. Shiller is suggesting that we’re headed back to the left side of the graph.  This would mean some sort of steady growth that really amounts to negligible growth. 

While this doesn’t seem very exciting for real estate sales (perhaps many of your are feeling depressed by this analysis), I think it is great news for real estate recruiting. 

Why?  I'm out of time for now.   I’ll share these thoughts in my next discussion.

Question:  Do you belive the Dr. Shiller is correct?  If so, how could this be good news for real estate recruiting?

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. 

Successfully Influencing “New to Real Estate” Candidates to Make a Career Change

One of the questions we often get from hiring managers is…”How do I consistently get high quality candidates to make the commitment to become real estate agents?” 

As we observe this process, it always seems the best candidates are on the fence because they don’t have to become agents.  Since they have talent and marketable skills, they usually have the option of doing something else.  Often, that “something else” is just staying in their current job or career field.

How do you get these candidates off the fence and headed towards becoming your next top performing agents? 

According to new research recently published in Harvard Business Review, keep them focused on a great outcome they will personally realize if they become real estate agents.

The research on this topic was conducted by Dr. Mark Goulston and Dr. John Ullmen and is summarized in a new book called Real Influence: Persuade Without Pushing, Gain Without Giving In.   Here is a excerpt from the HBR article:

“ Few people like to be pushed into doing something, or sold hard on it. And few like to push or deliver a hard sell. But at the end of the day, or even the end of a conversation, you do have to move things forward. So how do effective leaders really get things done?

As part of the research…[we] interviewed more than 100 people who "get things done," but who aren't pushy. But when we asked them, "Who persuaded you to do something really important?" more than a few arched their backs and replied defensively, "Nobody persuaded me to do anything important!"

When we switched tactics and asked, "Well then who positively influenced you to become the person you are?" they leaned back, smiled, took a deep breath of satisfaction and replied, "Now that's a different story!"

This small change in perspective seemed to help the researchers uncover several consistent and repeatable patterns among great influencers.  As a hiring manager, these patterns could be very helpful—don’t you think?

I won’t steal the author’s thunder by revealing all their secrets, but I did find one of their techniques very compelling:  Great influencers learn to communicate great outcomes.

“When people paint a picture of a great outcome, they're not trying "to persuade people to do something important." They're trying to "positively influence them" to get them to a better place.

Take the story of Jim Sinegal, co-founder and former CEO of Costco, largely seen as the heart and soul of that great company. Jim is very humble and doesn't like to be given too much credit for his and Costco's success.

He often tells the story of how, as a recovering juvenile delinquent still headed in the wrong direction, he was working as a bagger at FedMart in San Diego. One day he was singled out by the legendary Sol Price, the founder of FedMark who is viewed as the father of the warehouse store concept.

Price saw beyond where Jim was, even beyond where he wanted to be, to where and who he could be — and focusing on that "great outcome" let him influence Jim, even as others had failed to persuade him. Price's dedication to customer value and the caring treatment of employees lived on through Jim and is so ingrained in the Costco culture that those values live on beyond his stewardship as CEO.”

For a real estate hiring manager, there is an important lesson in this approach. If you try to persuade someone to take the next logical step in their work life (ie. become a real estate agent), you’ll likely come across as “salesy” and meet resistence.  

But, if you effectively “paint a picture of a great outcome” for the candidate during the interview (and consistently during the follow-up process), the research suggests that this will produce a different result.   You’ll become a positive influencer rather than a ineffective persuader.

Question:  What type of “great outcomes” do you think would be compelling to the candidates you are interviewing?

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Editor's Note: This article was written by Ben Hess. Ben is the Founding Partner and Managing Director of Tidemark, Inc. and a regular contributor to WorkPuzzle. 

3 Tips For Successfully Building and Working Your Network

Over the years I have trained many managers on a piece of software we developed called the TalentPipeline.  We developed this software specifically as a recruiting tool for managers to diligently and thoughtfully keep track of their recruiting efforts and their recruiting network.

Shorty after introducing the software, I saw a pattern develop quickly among the majority of early adopters. Most managers seemed to have an insatiable desire to dump a VERY large database of agent contact information into their TalentPipeline, even though I had advised against that and advocated for a smaller more manageable pipeline.

Steve Tobak, a management consultant, discusses the benefits to a quality versus quantity network in the excerpted article below.

“Success in business is all about relationships. Your network is your most important asset. Treat it that way…

Business life has always been about connections. Business leaders spend decades building and cultivating those relationships. They cherish their networks because they know it's their most valuable asset.

If your networking strategy is simply to grow it, then you're likely doing more harm than good. Contrary to popular wisdom, bigger networks are not necessarily better networks.”

Steve provided a list of ways to build and maintain a network of strong, quality relationships.  The following strategies are worth noting here;

1. Respect contacts as individuals.

Remember that contacts are real relationships with real people. They have their own lives and they're busy. Your urgent needs may mean squat to them. You have to respect that, meaning you can't just send out blanket, generic requests to groups of people and expect anything in return except a lot of irritated contacts.

When it comes to relationships of any kind, you've got to remember that it's a two way street. You have to give to get. The best way to do that is to always, and I mean always, ask yourself: What's in it for them? It doesn't have to be quid pro quo, but it helps if you do something for others before asking them to do something for you.

And never spam them. Ever.

2. Keep your network current.

Let me tell you something interesting about contacts. They don't age well. They get out of date really, really fast. That's because it's a crazy, complex world so people are constantly adapting to changing conditions.

The truth is you're better off keeping your list of key connections short and staying in touch with them as appropriate.

3. Make your network personal.

Look, success in business is all about relationships. That's how all opportunities arise between individuals. And there's a big distinction between old school networking and social networking. A personal relationship creates a level of trust that really sets you apart from the virtual hordes.

In other words, one personal, face-to-face relationship is worth a thousand online ones. That doesn't mean you shouldn't network with people on LinkedIn or wherever you want to spend your time. Just keep in mind that, if you never really get to know someone, that relationship isn't likely to amount to much. So why bother?”

If you want to be successful in managing and nurturing your network you must be mindful of the people not the numbers.  If your network is too large, the valuable work of cultivating those relationships is either non-existent, or not genuine.  While it may appear on paper that you have a large network, it only becomes valuable if it is being tended to with value, authenticity and time.

Question:  How many candidates are you able to successfully maintain in your talent network?  

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Editor's Note: Lee Gray is the Senior Account Manager at Tidemark Inc. Lee is a regular contributor to WorkPuzzle. Comments or questions are welcome. .

Risk Averse is Life Averse--Part 2

In the last edition, I wrote about my mid-life transition that occurred 12 years ago. Reliving the details of that change reminded me of the tremendous risk I felt as I initiated my new plan.

Despite this risk, I knew that my choices were limited. I could remain burned-out and bored with the confines of a full-time clinical practice, or I could undergo some radical changes to my direction and see what happened.

One choice included no risk while the other included some risk (although it was far from financial ruin) but held the hope of freeing me from the trap I felt I was in.  

After describing the benefits that followed, I promised to tell you more about a new book that confirms the wisdom of taking calculated risks—especially during the productive years of a person’s career.

Karl Pillemer, a renowned gerontologist at Cornell University, wrote a book called "30 lessons for Living: Tried and True Advice from the Wisest Americans."  This book is a gem.  It includes insight that he distilled from interviewing more than 1000 aged Americans. While no book is perfect, it does contain themes of wisdom that are truly engaging and appear to resonate with eternal themes. 

To give you a quick bit of medicine from this book, read the following "refrigerator list" of principles learned:

1. Choose a career for the intrinsic rewards, not the financial ones.

2. Don’t give up on looking for a job that makes you happy.

3. Make the most of a bad job.

4. Emotional intelligence trumps every other kind.

5. Everyone needs autonomy.

After reading this list, spend some time soaking in the value of something this simple and profound. If you think about it, each of these rules is crucial to the recruiting process—both the interview and the follow-up process. It is what’s rumbling underneath the surface in the minds of the candidates.

This is an insightful basis for asking hard-hitting questions: Are you (ie. the candidate) in a career with intrinsic rewards? Are you in search for a job you enjoy? If they doubt their smarts, do you realize how important emotional intelligence is to succeeding? And, lastly, how badly do you want autonomy? 

Don't get me wrong. A real estate career is not for everyone. But the people in your pipeline figuratively raised their hands at some point thinking that it just might be for them. Will they regret it later if they don't try? 

Dr. Pillemer says, “yes.”  At least that’s what most of his research subjects told him:   

"I can only channel to you what the consensus of the 1200 elders in the study was. From the end of life, they definitely have a "take a risk" attitude, when it comes to time versus money.

They don't want you to do something that might bankrupt you, but if there's a choice to be able to live comfortably and have more time to actually live life, they recommend trying to make it happen.

It is a balance between being financially secure and having more time, but they really encourage us to not stay longer in a job we hate than absolutely possible."

This is valuable insight because most people whom you interview will be dissatisfied with their current job.  This is often their motivation for researching new careers. 

If you can help them see the future and overcome their natural aversion to risk, you’ve done them a great service.  You’ll also do yourself some good—you’ll hire agents who are motivated to flourish in your organization. 

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Editor's Note: This article was written by Dr. David Mashburn. Dave is a Clinical and Consulting Psychologist, a Partner at Tidemark, Inc. and a regular contributor to WorkPuzzle. 

To Increase Your Recruiting Results--Help Others to Help Yourself

In my previous life (pre-Tidemark), I was a case manager for Big Brothers and Big Sisters in New Hampshire. Before that, I worked as an "at risk" youth counselor for another non-profit organization. 

While the backgrounds of those I served was not pretty, the outcomes of my efforts did make a difference. In my previous positions, I had to set my goals for the long-term.  Short-term results were either nonexistant or difficult to detect.   

Obviously,my experiences are not in the same vein as most real estate owners and managers, but there are some suprising similarities between the roles. In fact, if you're going to meet your retention and recruiting goals, you will be more successful if you approach the problem from a framework of helping those you want to recruit and retain. This is what worked at Big Brothers and Big Sisters, and it can work for you as well.

The starting point of this process is gaining an understanding of what is causing the individual to struggle (ie. what are his/her needs).  The only way to truly get this information is to naturally engage in a relationship building process. 

Once you can identify an area of concern and can help that person navigate through it, you have become an incredible source of value and authenticity--two critical components in retention and recruiting.

Brian Patrick Eha, assistant editor for Entrepreneur.com, recently wrote an article discussing the work of the late Zig Ziglar.  Below is an excerpt, which is very relevant to my point.

“If you want to achieve your goals,help others achieve theirs. Motivational speaker Zig Ziglar did just that, reportedly traveling more than five million miles in his career and touching a quarter of a billion lives. Fortunately for us, he left behind a lot of sound advice.

'You will get all you want in life if you help enough other people get what they want,' Ziglar famously said. Put his maxim into practice: Next time you're in a meeting, focus on discerning the other person's needs rather than your own.

Form personal connections with customers.
 Customers often buy from the businesses and sales professionals whom they like on a personal level. Do a little research before meeting with your next client and look for common ground.” 

Try substituting “customer” and “client” with "agents," both existing and those whom you wish to recruit.

Once you get to the point of helping people solve their problems or overcome obstacles impeding their success, you will have taken one giant step towards your recruiting and retention goals.

Take it from a Big Sister…helping others achieve their goals will naturally help you achieve yours.

Question:  What difficulties do your candidates commonly face?  Have you figured out a creative way to help them over these obstacles?  Take a minute to share what you’ve learned…

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Editor's Note: Lee Gray is the Senior Account Manager at Tidemark Inc. Lee is a regular contributor to WorkPuzzle. Comments or questions are welcome. .

When Change Hits, Your Top Talent Leaves First

Editor's Note:  This article was written by  Mark Johnson, a guest contributor to WorkPuzzle. Mark is a coach, speaker, and trainer who works with the Tom Ferry Companies. 

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Naturally, your best agents and staff have the most alternatives in the marketplace. Highly talented people are the most likely to be recruited away and the best equipped to leave on their own initiative.

If you wait until your agents (or staff) go public with their plans to leave --before you re-recruit them--you've obviously waited too long.  The heart leaves before the body.

Forbes recently published an article 10 Reasons Your Top Talent Will Leave You and it triggered me to think about how our broker owners, managers and leaders execute the retention effort across their companies.

Few things in business are as costly and disruptive as unexpected agent or staff departures. And despite what you feel or think, when Forbes interviewed employees here’s what they said:

• More than 30% believe they’ll be working someplace else inside of 12 months.
• More than 40% don’t respect the person they report to.
• More than 50% say they have different values than their employer.
• More than 60% don’t feel their career goals are aligned with the plans their employers have for them.
• More than 70% don’t feel appreciated or valued by their employer.

The facts are that agents and staff who are challenged, engaged, valued, and rewarded (emotionally, intellectually & financially) don't leave. However if you miss any of these critical areas, it’s only a matter of time until they head for the door. 

Forbes went on to identify these 10 reasons your talent will leave you:

1.  You Failed To Unleash Their Passions

2.  You Failed To Challenge Their Intellect

3.  You Failed To Engage Their Creativity

4.  You Failed To Develop Their Skills

5.  You Failed To Give Them A Voice

6.  You Failed To Care

7.  You Failed To Lead

8.  You Failed To Recognize Their Contributions

9.  You Failed To Increase Their Responsibility

10. You Failed To Keep Your Commitments

 

Smart leaders don’t allow these mistakes to happen. Start re-recruiting your key agents and staff today. Take a look at the 10 reasons and create a strategy in your company to address the biggest issues.

Start by spending less time trying to retain people, and more time understanding them, caring for them, investing in them, and leading them. When you do, the retention you desire will naturally happen. 

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Editor's Note: This article was written by Mark Johnson.  Mark is a coach, speaker, and trainer who works with high-performing real estate agents, teams, managers and leaders in the highly competitive Southern California marketplace and across the United States. 

 A US Army veteran, Mark has since led multi-million dollar strategic operations initiatives, major sales and recruiting promotions, sales force automation ventures,  and help desk support projects.  He currently works with the Tom Ferry Companies.

 

What Makes Your Business Unique and Different?

Editor's Note:  Here is one of our New Year's Resolutions: WorkPuzzle will now be publishing articles written by guest contributors.  The first guest contributor is Mark Johnson.  Mark is a coach, speaker, and trainer who works with the Tom Ferry Companies.

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I've been thinking about the businesses where I choose to spend my hard earned money and time. And what I've found is these businesses all offer me something unique and different. It's really no different in your retention and recruiting efforts. So...

What makes you different and unique from the others in your market? 

Everyone is honest, hard working and knowledgable... so other than what everyone else has, what's your unique value to your target clients? How will they know you are different or unique? 

Like an airplane, a bus or a rental car any company or most any agent or brokerage... they all can get you there. We compete in a commodity business. 

So why would an agent choose you? 

Why would they stay with you? 

Why would they recommend you to others? 

Here is an excerpt from Gary Vaynerchuk's book the Thank You Economy to consider as you execute your business plans for 2013: 

" Consumers' demand for authenticity, originality, creativity and positive intent have made it necessary for brands to revert to a level of service rarely seen in decades. Which leads me to believe one of your best competitive advantages is superior customer service. Creating an exceptional experience..." 

We've entered a new era in business... one where the biggest return isn't tied to throwing money at advertising campaigns but in proving you care about your customer more than anyone else.  How?

1. Be authentic - online or offline - say what you mean and mean what you say. 

2. Speak your customers language. 

3. Build a sense of community around your brand. 

4. YIKES - use some "shock and awe" to blow your customers minds and get them engaged and talking. 

5.  Don't be afraid of what's new and unfamiliar... 

How can you create an exceptional experience for your agents?

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Join the WorkPuzzle Discussion at the Tidemark Online Community (TMOC)

Engage in the WorkPuzzle discussion by joining the TMOC private social network.  Commenting on a public blog like WorkPuzzle can be a little intimidating, so why not join the discussion inside the privacy of the TMOC discussion group?  

By joining TMOC, you'll get to see who else is in the group and your comments will only be seen by those whom you trust.   Joining TMOC is quick, easy, and free (no kidding…this takes less than 2 minutes).   To get started, click here.

Already of a member of TMOC?  If so, join the WorkPuzzle Dialog Group by clicking on the WorkPuzzle Group icon on the left side of your TMOC homepage.  Questions?   Email the WorkPuzzle editor (workpuzzle@hiringcenter.net) and we'll walk through the process.

 

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Editor's Note: This article was written by Mark Johnson.  Mark is a coach, speaker, and trainer who works with high-performing real estate agents, teams, managers and leaders in the highly competitive Southern California marketplace and across the United States. 

 A US Army veteran, Mark has since led multi-million dollar strategic operations initiatives, major sales and recruiting promotions, sales force automation ventures,  and help desk support projects.  He currently works with the Tom Ferry Companies.

 

Post Interview Engagement-Part 2

In my previous blog, I discussed the importance of engagement with prospective new agent hires after the interview, essentially, treating a potential hire as if they are hired.  It’s not enough to simply interview someone and know you want to hire them.  I have spoken with many of my recruiters and a lot of the good prospects fall off the grid post interview.  

As I oversee our accounts, there are several metrics upon which I keep an eye.

1.  Interviews/ month

2.  Interviews converting to licensing school

3.  Licensing school candidates converting to hires

 I believe adopting this strategy will positively affect the interview/month conversion rate.  

I recently posted a discussion on our private social network on this topic and received a couple of prolific comments from two of my high performing accounts. Rod Eller, Senior Vice President of Sales with Prudential Carolinas commented:

 "I think it is critical to build the relationship of mentor and coach.  While they are working through the licensing process is a great way to start.  Be the tutor and resource for questions that they may have regarding material that they are learning in class.  The bond of sharing in the process of career change is such a foundational part of developing a trust that you care and are there to help them be  all that they can be.  As a parent you wouldn't dream of not being a part of the first day of school.  Maybe, the analogy is too dramatic.  I don't think so.   I can't tell you how many times a recruit has told me how they have always dreamed about selling real estate.  Be a part of that dream!  Lee, love your "human" game approach, I believe that you're on to something! "

 Kathie Hedrick, Director of Career Development with Prudential Manor Homes in NY responded similarly;  

“Lee, we do pretty much what you have recommended.  We described the process as a shadowing program for the new agent.  This program is in place while they are working to obtain their license.  So once a candidate has been chosen to join the firm, we get them involved at once so that they quickly feel that they are a part of the company.  By the time they are licensed, they have a sense of belonging and have some established relationships.  So, the shadowing program starts before being
licensed and the formal training program starts when they earn their state license. “

 What do you think?  Do you see the benefit to this active and engaging form of hiring? For those hiring managers who do use a similar strategy, how do you stay in front of your prospective hires?

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Join the WorkPuzzle Discussion at the Tidemark Online Community (TMOC)

Engage in the WorkPuzzle discussion by joining the TMOC private social network.  Commenting on a public blog like WorkPuzzle can be a little intimidating, so why not join the discussion inside the privacy of the TMOC discussion group?  

By joining TMOC, you'll get to see who else is in the group and your comments will only be seen by those whom you trust.   Joining TMOC is quick, easy, and free (no kidding…this takes less than 2 minutes).   To get started, click here.

Already of a member of TMOC?  If so, join the WorkPuzzle Dialog Group by clicking on the WorkPuzzle Group icon on the left side of your TMOC homepage.  Questions?   Email the WorkPuzzle editor (workpuzzle@hiringcenter.net) and we'll walk through the process.

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Editor's Note: Lee Gray is the Senior Account Manager at Tidemark Inc. Lee is a guest contributor to WorkPuzzle. Comments or questions are welcome. .

Post-Interview Engagement

As most hiring managers in the real estate industry know, the hiringprocess is unique.  Other than an initial application and interview, the candidate is fundamentally independant in terms of entering the real estate field, and could be on their own for months, before joining a real estate company.

Many of the managers with whom I have consulted have heard me discuss the post interview follow-up that is so critical to their hiring process.

In a nutshell, treat a potential hire as if they are hired. 

I came across this short video in which Indigo Triplett, CEO of Careers in Transition, discusses a concept I have shared with many managers…in her case she refers to a “Work With program” that allows prospective hires to actually work as a hired employee for a short period of time--up to 40 hours. 

The concept allows for a hiring manager to move away from predicting a candidate’s success based on the interview and resume alone.  

Clearly there are some limitations in the real estate world prior to obtaining one’s license, but I submit there is plenty for a potential hire to do and see prior to activating their license.

The more you and the people in your office engage personally with a desired new agent, the more you will know who you are potentially hiring. You will get the benefit of getting other perspectives from those who worked with the prospective hire.

Some ways to engage candidates:

1.  Invite them to sales meetings.

2.  Invite them on office tours.

3.  Match them up with an experienced agent in the office and have them attend an open house.

4.  Invite them to training sessions….the sooner they are trained the sooner they will produce.

We all know how important relationships are in every facet of the real estate industry; hiring is no exception.  The more you engage a candidate in your office, the more they will feel an affinity not only with you, but also with the office culture.  

This is a huge competitive advantage. They will be more motivated to complete the licensing requirements, and less likely to consider your competition.   

Stay tuned for my next installment in which I will share with you what a couple of my high performing accounts are doing, relative to the strategies discussed today.

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Join the WorkPuzzle Discussion at the Tidemark Online Community (TMOC)

Engage in the WorkPuzzle discussion by joining the TMOC private social network.  Commenting on a public blog like WorkPuzzle can be a little intimidating, so why not join the discussion inside the privacy of the TMOC discussion group?  

By joining TMOC, you'll get to see who else is in the group and your comments will only be seen by those whom you trust.   Joining TMOC is quick, easy, and free (no kidding…this takes less than 2 minutes).   To get started, click here.

Already of a member of TMOC?  If so, join the WorkPuzzle Dialog Group by clicking on the WorkPuzzle Group icon on the left side of your TMOC homepage.  Questions?   Email the WorkPuzzle editor (workpuzzle@hiringcenter.net) and we'll walk through the process.

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Editor's Note: Lee Gray is the Senior Account Manager at Tidemark Inc. Lee is a guest contributor to WorkPuzzle. Comments or questions are welcome. .