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Stop competing for talent on commission only

By Andy Reid
12 May 2022 | 1 minute read
Andy Reid

The biggest conundrum on every leader’s mind right now is what can I do to attract top talent?

The common methodology tends to revolve around relying on a one-pronged approach – attempting to offer the most attractive commission model  however, there always seems to be another firm that can offer a more lucrative package, another agency providing better commission splits or another property management department serving up a better salary.

So, what’s the solution?

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Recruitment can be tough, and I have also been in this unenviable position myself on more than one occasion; however, using the same process as others will not provide us with the outcome we seek.

From my experience, here are a few steps that have worked for me:

  • Tune in to what the workforce wants and needs, how they want it delivered and why
  • Address fundamental flaws in our model that circumvent success
  • Create an actual differential in our business

It’s fair to say that, considering recent events, humans are looking for certainty. They are looking for solid, dependable ground they can step onto confidently and safely, so not only do we need to show that level of energy and ambition, but we also need to demonstrate that the environment and its structure that you are offering is a dependable one.

They also crave flexibility that can better accommodate their lives, which enables them to work from home and spend more time with family while still being able to do their jobs effectively.

The biggest flaw in recruitment in real estate is the belief that we can’t be advertising what we do in our business in case our competitors find out. The shroud of secrecy that businesses seemingly feel the need to advertise under means that candidates often need telepathy to find out how great we are sometimes.

Ironically, the routes to success are no longer a secret. Systems, technology, and coaching programs – they are all available to everyone, and as a result, I have found that being transparent about what you offer to the market and candidates yields far more success than protecting it at all costs.

This gives you the freedom to speak to the true unique selling points of your business, and it also provides the opportunity for tailored content to give you consistent social proof in the market.

Having good content online is not just there for potential sellers – any candidate worth their salt is going to look to see if you are good people or not, which means it’s very worthwhile to put effort into your digital presence.

The way in which your team connects in the lunchroom will go a long way towards defining your culture, so it may pay to build some imagery and video content around that and pin it into places (e.g. top of the Facebook feed) that are easy to spot for those who are looking for a workplace that offers connection on a human level.

Ultimately, while money clearly still plays a part in attracting top talent, I believe it is more apparent than ever that we all want to belong to a like-minded tribe, and last time I checked, that doesn’t have to cost a single penny to provide.

Andy Reid is an auctioneer and the founder of SoldBy Group.

Stop competing for talent on commission only
Andy Reid 3 reb
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