We’re living through a truly unique time in the real estate industry, and it’s one that I’m excited to be a part of. Experts predict a strong 2020 market, home sales are increasing YoY, and we’re innovating technology faster than ever. As we enter a new decade, we’re asking “what’s next?” What do we envision for the agent and consumer experience 10 years from now?
I like to stay connected with many of our BoomTown clients, keeping a finger on the pulse of their wins and toughest challenges. A resounding common denominator amongst many of these leaders is the focus on smarter recruiting. They’re no longer recruiting any agents, they want the right agents. And it’s competitive.
“We always tip the scales with culture in recruiting – 51% culture and 49% productivity / profitability. We want to partner with individuals who are humble, hungry, and people smart, and who truly view business as a conduit for their personal growth. It’s truly all about who you become on your business journey.” – Erin McCormick, Chief Operating Officer, Hergenrother Realty Group at Keller Williams
A recent conversation with friend and client, Doug Gieck, VP of Production at 8z Real Estate, emphasized this pattern. “Recruiting and retention in Real Estate at the brokerage level has always been, remains, and will always be a hyper-competitive space. We are even seeing Wall Street throw big money into this space to try and recruit and retain the best talent. This will only continue in the future,” Gieck noted.
A strong recruitment program has a lot of elements (all of which need to be attractive and competitive), and we’re seeing that tech solutions are the real unifier. “To remain relevant and keep your brokerage alive you need a robust and precise tech stack that allows agents to maximize efficiency and feel the support your brokerage provides,” says Gieck. If the billions of investment dollars being poured into “proptech” are any indication, the right tech makes all the difference. And agents are flocking to whoever offers the best.
“We look for agents who can adapt to our systems and processes rather than bring old habits from previous companies. We know our track record of training, coaching and mentoring for lead conversion turns into closings and that, of course, is all agents are seeking.” – Matt Delhougne, RE/MAX Vision
I’ve never been more excited than I am right now with the innovations happening at BoomTown. Knowing that recruiting is a top priority, our North Star is clear: leverage our sheer volume of data from 11+ years of working with real estate professionals to optimize the agent experience and, in turn, perfect the consumer experience. That means making data-driven decisions to tackle lead qualification and follow-up. It means implementing AI to anticipate consumer needs and empower agents to answer questions before they’re even asked. Most importantly, it means ignoring unproven practices and the status quo and leveraging precise information to stay strides ahead.
I’ll give you an example. Agents’ lack of ability to effectively follow-up with leads is actively leaving money on the table. We’re solving for that by handling it for them, reaching out to leads on their behalf, at the most opportune time, and then serving them to the agent when they’re ready. More than ever, agents are craving a predictable outcome. And the broker who can provide the most powerful framework with an assurance of success (based on proven data) is the broker that will recruit and retain the best talent.
“In 2020, a successful agent is consistent in their activities. They show up with their team daily to practice together – role-playing and at least a focused power-hour of lead generation – all together. They track their numbers daily and diversify their lead gen sources. We encourage our agents to be in our BoomTown CRM for at least 30 minutes a day, utilizing user-behavior to guide their actions to make them as efficient, purposeful and intentional every day.” – Erin McCormick, Chief Operating Officer, Hergenrother Realty Group at Keller Williams
I believe that it is our job as technology providers to empower agents in 2020 to check all of those boxes. It’s possible to be data-driven, to utilize success metrics, and to leverage insights in order to virtually guarantee success. (And I don’t use the word guarantee lightly!)
Sonny Downey, broker of EXIT Realty Gallery, puts it succinctly. “Why do agents join a team or a franchise rather than work alone? They see the value in what that environment can offer. Brokers who use BoomTown leverage it as a recruitment tool because it empowers agents.” And that commitment to empowering agents continues to drive our innovation.