Recruiting and Retaining Staff in your Real Estate Business

When you reach a certain point in your real estate career, it’s time to start recruiting a team.


Whether that be building your own EBU or even looking at starting or building your own agency, the recruitment process is important to get right.


Not only is it important to find the right people, but it’s just as important to provide them with the right training, environment, and benefits to retain them in your business.


So where do you start?

Outlining your goals is the first step.

What do you hope to accomplish? The direction you want to take the business in and what you want to achieve must be clear to you. By creating this, we will lay the foundation for new hires.


It’s also important here to conduct a financial audit of your business. Are you prepared for there to be a potential reduction of profit while your new employee establishes themselves and settles in?


Map out what the impact would be for you if you do hire someone? AND just as importantly, map out what the impact on your business will be if you don’t.


Once you have built the foundations, it's time to construct a profile of the person you are seeking. For your business to thrive, what skills are required? Are there any areas where experience and abilities may be lacking? Are there any tasks you would like to hand over? To ensure that you hire candidates with the best impact, be as specific as possible.


Spending the time to develop the steps above are very important to do upfront. They help you find the right person with the right skill set for the right role. This can help you gain traction in your team quickly and save you time (and money) by ensuring that you are not having to start all over again if the candidate is not right for the role or you discover that you want an entirely different person after you’ve hired them.


During the actual recruitment process it’s not only important to advertise the role publicly, but also tap into your network. You may be able to find someone who has had previous experience in the industry, and you’ve witnessed how they operate by reaching out to your network. Referrals and recommendations can be a very effective way to find game changing talent!


So, what happens once you’ve found the perfect person?


If you want to attract and keep high-performing employees, you need to make sure that you have an effective employee retention strategy in place. This should include things such as:

  • An engaging and effective onboarding process

  • Employee performance reviews

  • Opportunities to keep communication lines open

  • Opportunities to show your appreciation – this could be a rewards program or employee events, team building activities

  • Professional development opportunities


It’s important to keep great employees happy as it creates a stronger workforce, can increase team productivity, improve team morale and decrease hiring and training costs!


What retention strategies do you have in your business that have been successful in the past? Share below!


16 views0 comments

Recent Posts

See All