I often counsel recruiters and hiring managers on the importance of being discerning in their recruitment and hiring processes.
Given the limitations of time and energy, it’s crucial to concentrate efforts on individuals with the greatest potential for success and who align well with the team’s dynamics.
This same principle holds true for retention strategies.
Here are my three archetypes of agents:
- Money-Oriented: Those who entered the profession primarily for short-term financial gain.
- Business-Oriented: Agents who perceive real estate as an opportunity to establish a sustainable business, supporting their families while prioritizing client care.
- Calling-Oriented: Individuals drawn to real estate by a deep desire to help others; their focus is primarily on serving people, with business ownership and financial rewards being secondary.
In recent years, the real estate industry saw an influx of money-driven agents during prosperous times.
However, as the landscape evolves and easy profits diminish, retaining such agents becomes less viable.
Agents falling into the latter two categories—business-oriented and calling-oriented—are the ones worth retaining. Investing in these groups ensures long-term viability for your company.
Why? Because they prioritize building lasting relationships with clients, ensuring stability regardless of market fluctuations.
When allocating retention resources and attention, it’s imperative to discern whether an agent leans towards the business-oriented or calling-oriented mindset.
With finite time and energy, strategic investment is key.
