In the face of impending significant shifts, it’s common for leaders to strive to decipher the evolving landscape and brace for forthcoming developments.
Chances are, that’s precisely what you’re engaged in at this moment.
However, when it comes to forecasting what lies ahead, many leaders often miss the mark.
Research indicates that leaders tend to overestimate their predictive accuracy, especially during times of crisis.
Take, for instance, an email I got from a leading real estate company recently, highlighting:
Industry insiders predict a substantial reduction in commission pools by up to a third, potentially displacing 80% of real estate professionals.
Such sweeping statements rarely hold water, leaving those who make them in an embarrassing spot (and really, who can vouch for these so-called experts?).
The real damage, however, is inflicted on those who take these predictions to heart, only to face difficulties when they don’t materialize.
So, what’s a better approach?
Concentrate on mitigating risks in the key areas of your business where you wield the greatest influence.
For instance, the factors leading to 80% of agents exiting the industry might be beyond your control.
However, you can certainly choose which agents to bring on board.
By targeting your recruitment towards agents who are securing listings or have the potential to do so, you’re minimizing your risk, no matter what the future holds.
The companies that will thrive are those with the most skilled agents who focus on the most lucrative activities.
Securing a large cohort of agents skilled in handling listings could be your most prudent move for the time being.
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Real Estate Recruiting
If you’re looking for assistance in refining your recruitment strategy, don’t hesitate to get in touch for a complimentary recruiting consultation. Over the past 15 years, we’ve supported many brokerages in adapting, refocusing, and seizing new opportunities amidst changing conditions.
