larson profile of today sw florida recruit 2011
TRANSCRIPT
Profile of Today’s SW Florida Real Estate Recruit
Today’s Agenda
Rose’s breakfastLarson State of the UnionProfile of today’s real estate recruit10 Strategies to attract new licenseesIntroducing BROKER CONNECTIONBenefits of LarsonEd
LARSON STATE OF THE UNION
2010 was our 2nd year in the business
Naples
NMLS
Larson Exam Tutor
Pass Rate
Sarasota
CE-Advantage
Broker Connection
OUR NEWEST CLASSROOM
OUR NEWEST INDUSTRY
OUR NEWEST TOOLS
OUR SAME OLD RESULTSNo one has more effective sample exams, tutors and course workbooks.
All others Larson Course I + Prep
44.00%
92.00%
Pass
OUR NEWEST MARKET
OUR NEWEST PARTNERSHIPS
REALTOR Association of Fort Myers and the Beaches
Naples Area Board of REALTORS
PGPCNP Association of REALTORS
OUR NEWEST BROKER TOOL
Profile of Today’s Real Estate Recruit
SW Florida new licenseesLee, Collier and Charlotte
01 02 03 04 05 06 07 08 09 10
797
11201345
1665
2736
1572
614 616
1140950
Survey Says…
Each of our real estate licensing students completes an Anonymous Survey at the conclusion of Course I. The following data were collected from February, 2009 – January, 2011
Q. What is the primary reason for attending real estate classes?
1. Attributes of the business
57% in 201035% in 2009
Be my own boss / help people buy / freedom / like helping people find a nice home / like people, like houses, like money / love real estate
Q. What is the primary reason for attending real estate classes?
2. Income and investment opportunities29% in 2010
41% in 2009
only means to make good money today / love real estate investing / market is improving / now is the time / want to be on top of investments
Q. What is the primary reason for attending real estate classes?
3. Career Change10% in 201012% in 2009
New career, sales oriented / it fits at this point in my life / always thought about it / more control of future
Q. What is the primary reason for attending real estate classes?
3. Another tool in my belt4% in 201012% in 2009
Background in lending / property management / CAM / contacts in finance / construction / foreclosure
Florida Unemployment12/2008 7.6%12/2009 11.8%12/2010 12.0%Jobs lost 2010 232,400Jobs lost December 17,900
Bernanke’s View
“At our projected pace of improvement it could take four to five more years for the job market to normalize fully.”
January 7, 2011
What do real estate recruits do now?
24
21
1618 19
2
RE Related Other Self Sales Services Medical
Agents by race
White Hispanic Black Asian Other
84
11
2 2 1
80
14
3 2 1
2009 2010
Agents by gender
Male Female
45
55
4951
2009 2010
Agents by marital status
Married Unmarried
55
45
59
41
2009 2010
New agents committed to a broker before enrolling
Committed Not Committed
23
77
27
73
2009 2010
New agents by own versus rent
Currently Own Currently Rent
71
29
72
28
2009 2010
New agents by hours expecting to work per week
0-20 21-40 41-50 51-60 60+
17
27
36
13
73
42
28
17
10
2009 2010
New agents by age
18 - 24 25 - 34 35 - 44 45 - 54 55 - 64 65+
6
20
24 24
20
6
8
1719
30
19
7
2009 2010
New agents by household income
0-20 21-40 41-60 61 - 80 80,000+
8
17
28
18
29
3
22 2118
362009 2010
New agents by source of income
Primary source Secondary source
50 50
71
29
2009 2010
Q. How did you first contact the broker or office?
1. Personal contact: friend, family or customer
2. Searched the Internet
3. Found on Craigslist
THOSE NOT COMMITTED SAY “I DON’T WANT TO THINK ABOUT IT UNTIL I PASS”
4 keys to online advertising
Create a clear and concise message - proof it and have someone else read it
Tell the reader what makes you different - create benefit statements
Use warm words - don’t try to “sell”, create a level of comfort
Provide all contact information - your name, company name, address, website, “About Us” page, etc
Q. What was the primary reason you chose this broker?
1. Personal relationship 78% in 2010
42% in 2009
Already work there / friend or through a friend / known for x years / ethics / compatible goals / motivated me / business relationship
Q. What was the primary reason you chose this broker?
2. The broker offered MORE 14% in 2010
36% in 2009
Commission split / support / lower fees / paid some start-up costs
Q. What was the primary reason you chose this broker?
3. Training and mentorship 5% in 2010
14% in 2009
Broker has proven plan for success /
successful history in the business/
provides relevant training and mentoring
Q. What was the primary reason you chose this broker?
4. Paid for my classes 3% in 2010
8% in 2009
Offered scholarship / paid for my classes / offered to pay tuition / tuition reimbursement
Maslow’s Heirarchy
Leave me alone
Recognize me
Hug me
Protect me
Feed me
Herzberg TheoryNew recruit “Hygiene Factors”
• Conscious incompetents • EMBARRASSED OR
NERVOUS about: math; technology/computer;
• Don’t understand REALTOR $; costs; contracts – what to do and how to do it; the market; short sales; construction; condos; marketing (especially internet)
What is YOUR viewpoint?
Q. As an employing broker or manager, are you considering increasing your efforts to attract new recruits?
THE FUTURE OF THE INDUSTRY THEY ARE PLEASANT AND TAKE DIRECTION THEY ARE EAGER TO LEARN THEY HAVE ENTHUSIASM FOR A FAST START
10 Strategies to Attract New Licensees
1. “Make a commitment”
Commit to look for those recruits who have done okay in their current or previous career; those who are professional, ethical, positive and good people.
10 Strategies to Attract New Licensees
2. “Create a strong value proposition” Describe the features and benefits of your organization, answering the question: “SO WHAT?”
Dear Recruit,
I have noticed that you have recently obtained your real estate license. Congradulations! I realize that selecting a broker to work for is not always easy. In my nearly 10 years of experience I have learned that most new agents don’t realize that your transactions might increase more by associating with a progressive and leading company such as ours. I have experienced many new recruits like yourself who had results promised from other brokerage offices who have probably doubled and tripled their income by joining my team. I would love to have a few moments of your time to tell you about some of the benefits and resources that I can provide you at The ABC Group. Feel free to call me at your earliest convenience to discuss some of the exciting tools that are available and waiting for you at The ABC Group. Again, congradulations on passing your test. Your someone I look forward to hearing from soon.
Sincerely, Principle Broker, The ABC Group
Evaluations
“Sorry, but eight “I’s” is about seven too many! Congradulations?? Principle Broker?? Ever heard of spell-check? Ugh!”
“I think a letter such as this doesn't provoke any curiosity, pizzazz or reason to call. It doesn't set you apart from the "other" brokers.
Evaluations
“You need to say what, why, who, where you are in comparison and give new agents a REASON to call and meet with you over someone else.”
“You need to specify what you will do differently. Why would someone go to work for you? Let them know.”
Evaluations
“If you want me to pick up the phone and call you (or better yet meet with you) give me a reason to do so.”
“Not enough "what's in it for me?" I would want to know what the benefits of your company are.”
“Try adding bullets of what your office offers as benefits. Why is your brokerage better than others? What do you do that is better?”
10 Strategies to Attract New Licensees
3.“Contact new licensees immediately.” Send recruitment letters to contacts on your state’s list of new licensees as soon as the latest roster is available. Follow up with personal calls, notes, and interviews. Hours can make the competitive difference.”
http://www.myfloridalicense.com/dbpr/sto/file_download/index.html
10 Strategies to Attract New Licensees
4. “Get them licensed quickly.” We send new recruits to courses to get a license in less than 30 days. Speed is attractive to downsized professionals, new college grads, and others hoping to jump into real estate quickly
10 Strategies to Attract New Licensees
5.“Target direct mail to a neighborhood where you don’t have an associate working.” Announce that you’re looking for someone to represent your company in that neighborhood
10 Strategies to Attract New Licensees
6. “Offer mentoring.”
New recruits hone their skills with the help of experienced associates. Our veteran associates always include the rookies on their listing appointments.
10 Strategies to Attract New Licensees
7. “Rely on your associates.”
Ask them to assist you in recruiting people in their own image. Good people attract good people.
10 Strategies to Attract New Licensees
8.“Try the Real Estate Simulator.”
Use this online test to attract pre-license candidates, get a sense of personality traits and skill sets and whether people will fit in. realestatesimulator.com
10 Strategies to Attract New Licensees
9. “Tell them what to ask.” We provide them with a booklet of questions they should ask us. When they’re finished with our interview, I feel we’ve educated them and I encourage them to use the questions if they interview with other companies. They appreciate that.
10 Strategies to Attract New Licensees
10. “Create a powerful web presence.”
We have a careers section on our main site plus a recruiting website by adding ‘careers’ to our URL. Separate new from experienced on the site. Give lots of info. Remember that it’s about THEM.
Be a Participating Broker at Larson Educational ServicesTake advantage of LarsonEd resources by being a Participating Broker.
Support for your Career Night Materials at LarsonEd Career Night Regular delivery of Course Schedules LicenseTrak Scholarship Program Broker Connection at LarsonEd.com Contact is Stefanie Watson
Broker Connection at LarsonEd.comWe connect with each other
Your electronic recruiter
3,000+ web site hits per month
2,000+ live students last year
Use our site to simplify and speed the licensing process
$100 setup / $75 per year
Benefits of LarsonEd
Our unique course development strategy prepares for exam success
Our students don’t just start, they get a license.
Our students come back to you alive, happy and excited
They will succeed on the exam They will NOT be recruited or
solicited Their energy will carry into the office
Benefits of LarsonEd
We cater to brokers who recruit: Massive scheduling for a fast startCompetitive pricingConsistency in educational
objectives, materials and instructors
Consistency with in-house trainingBROKER CONNECTION
Benefits of LarsonEd
In short, we will be YOUR SCHOOL
Thank you, and best wishes for continued success!
Benefits of LarsonEd
Up Next Time: SELECTION
Top Ten Reasons Agents Fail
1 – Not a ‘self starter’ or ‘self motivator’
2 – Unrealistic income expectations
3 – Don’t want to work hard enough
4 – Can’t handle commission income
5 – Lack of objective info about career
6 – Inability to plan and manage time
7 – Inability to set specific goals
8 – Lack of supervision and motivation
9 – Don’t know “how”
10 – Can’t handle the pressure