Realtor Recruiting and Retention for Real Estate Professionals
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Social strategies and tactics for utilizing social media for real estate agent recruiting and retention
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Realtor Recruiting and Retention for Real Estate Professionals
- 1. Social Media for Real Estate Recruiting and Retention #C21Social4Biz Customer Success Executive, Hootsuite @inthekisser Erica Ayotte
- 2. Erica Ayotte Customer Success Executive Hootsuite @inthekisser
- 3. Agenda • Using social to build relationships • Retention Strategy • Retention Tactics • Recruiting Strategy • Recruiting Tactics • Resources
- 4. • Please Connect & Share!Please Connect & Share! #C21Social4Biz @Century21 tapin.century21.com @inthekisser linkedin.com/in/ericaayotte #C21Social4Biz
- 5. “Everyone says social media is some kind of unicorn. But maybe it’s just a horse.” — Jay Baer #C21Social4Biz
- 7. The cost of turnover is 1.5 to 2x that person’s salary -Deloitte #C21Social4Biz
- 8. Companies that value their employees the most are also the most financially successful. - Fortune Magazine #C21Social4Biz
- 9. Actively-disengaged employees cost U.S. business up to $550 billion a year in lost productivity. - Gallup #C21Social4Biz
- 10. What does social have to do with it? • Fish where the fishes are • Time efficient • Nurture connections • Setting the example
- 11. Risks of Not Adopting of businesses will Lose market position1/4 #C21Social4Biz
- 12. Benefit of Adopting 20% More Revenue 60% Higher Profit Growth McKinsey Report #C21Social4Biz
- 14. • Recognition • Personalization • Your time Retention Strategy #C21Social4Biz
- 15. 1. Block off time 2. Like at least 3 posts everyday on Facebook and LinkedIn 3. Comment on at least 1 post everyday on Facebook and LinkedIn 4. See if your own posts start to get more engagement Retention Tactics #C21Social4Biz
- 18. • Digital Eavesdropping • Recruiting is more than LinkedIn • Show off your expertise • Show off your personality Recruiting Strategy #C21Social4Biz
- 19. 1. Add one new connection every week 2. Post three times each week 3. Channel appropriate content 4. Find & schedule your content with Hootsuite Recruiting Tactics #C21Social4Biz
- 20. Content Examples
- 22. Twitter Basics for Recruiting • Localize your profile, use relevant key words • Utilize search to find local & industry influencers • Connect your email to find connections to follow • Post consistently • Be patient #C21Social4Biz
- 23. tapin.century21.com facebook.com/century21 facebook.com/lightersideofrealestate realtor.com inman.com Google Alerts/Feedly/RSS Reader Resources blog.hootsuite.com learn.hootsuite.com blogs.constantcontact.com jonloomer.com (advanced) moz.com (advanced) #C21Social4Biz
- 25. Thank you!
Editor's Notes
- I’ll be posting this presentation on Linkedin and slideshare later today
- The point is, you already know how to do this. Everyone in this room is already great at creating relationships, being a part of your community, being a connector, being someone who knows how to get things (Red in Shawshank), someone who has knowledge. Those are solid social media principles. The problem is people forget that. They get mixed up in the terminology, get frustrated by the seeming unending changes to platforms, or all the new platforms. A lot of people who are seemingly “good” at social forget what they’re actually trying to do. And that’s creating meaningful relationships. This is why I cringe when I here someone say, “oh my daughter/niece/cousin/preschooler is running my social for me.” You can learn the technology. It’s a hell of lot harder to teach someone your business or how to sound like you online. It’s not about the technology, it’s about what you do with it. What is special about social though, if it has any pixie dust, is that it allows you to build relationships at a scale and speed you never could’ve before.
- Using social media to build relationships is an extension of what you’re already doing in “real life.” Every time you’re out in your community, or at a social event, or are in a professional setting, you’re strengthening your existing relationships in addition to making new ones. This is true for both personal and professional connections. And more often than not, there is plenty of crossover between the two. The more you nurture your existing professional network and capitalize on opportunities to make more connections, the easier it will be to keep the realtors you have while finding new, qualified realtors to bring into your brokerage. Applying those basic communication principles of nurturing and connecting to the technology of social media will allow you to keep and form new relationships at a scale (and in far less time) that would have been impossible before. Its extending what you’re already doing and making you more efficient at it.
- Though real estate agents aren’t employees per se, turnover is costly regardless. Turnover can multiply. A couple people leave, a few others who felt unsatisfied for one reason or another they consider leaving---it’s a cycle. Also, turnover will make it more difficult for you to recruit quality agents in the future. Instability isn’t good for business. Not only will there be a gap in sales, turnover can lead to bad customer experiences.
- Fortune Magazine’s “Best Companies to work for” perform nearly 2x better than the general market. The companies that have the best culture, also have the best performance. Very strong correlation.
- Engagement, productivity, and customer service are 14% better in organizations that recognize employees for their work Bersin & Associates How people feel about the companies they work for has a direct and serious impact on the bottom line.
- Fish 1. Social media (and in particular Facebook) is where conversations and both personal and professional interacting are taking place. In this context, think of Facebook like your lunchroom or any other spot where your realtors might congregate. Conversations that used to only take place in person (then over the phone, then over email if we think about the progression of technology) are now taking place on social media. If you aren’t where the conversation is happening, you’re out of the loop and missing opportunities. You can learn a lot about the people you work with just by listening in. Particularly in the real estate industry, folks aren’t in your office; they’re in the field. Social presents a great opportunity for you to have a conversation or listen in where you might not have previously. 2. Time If you were trying to nurture all your relationships through email or face-to-face conversations, this would take you a TON of time. Not to mention you’re bound to lose contact with some connections you consider to be important. With social media, you can spend just a few minutes a day and continue to make those 1-1 connections. That doesn’t mean social media is a replacement for all other forms of communication. Rather it’s a powerful supplement. Easier to come back to those connections later on. 3. Keeping your agents connected to each other a. It can be difficult to build your company culture and keep in touch with agents when most people are not sitting in the same office all day. Social media can keep those connections strong even when they are physically distant. And it doesn’t have to be complicated. Every time you like or comment on a post, that person will receive a notification. It’s a low-cost way of showing that you’re paying attention to them. Notifications on your cell phone. 4. Setting the example a. If you’re active on social media, that will increase the general usage of social media within your brokerage. Getting people comfortable and having (appropriate) work conversations on social is the first step to encouraging employees to using social for business purposes. If they don’t see that you are active, they are going to miss out on the business opportunity 5. By nurturing your existing business relationships online, you’ll help your recruiting efforts as well. a. Your attention, support, and positivity will not only be visible to people in your own network, but in the networks of all your agents. Plus, there’s no better recruiting army than a team full of happy, connected, socially active agents.
- Similarily The risks of not embracing new social technologies are high. A study by Gartner indicates that by 2017 ¼ of businesses will lose their market position because of social business incompetence. Therefore the issue is not about whether you should become a social organization or not, but rather how fast can you get there Social media, the sharing economy, digital channels, wearable technology - have all disrupted many business models. Brian Solis says it changes how people communicate, connect, and discover – and is carrying incredible implications for businesses and just about anything where people are involved. He continues - This is a time of digital Darwinism -- an era where technology and society are evolving faster than businesses can naturally adapt. This sets the stage for a new era of leadership, a new generation of business models, charging behind a mantra of “adapt or die.” What it means for business - mapping and understanding the customer experience is becoming critical in guiding transformation efforts. Companies need to ask again and again What uniquely defines the persona of our customers? What is different about their customer journey? What are the touchpoints they frequent, how do they use them, and with what devices? What are their expectations, what do they value, and how do they define success? How are they influenced, and by whom? How and whom do they in turn influence?
- Very high positive correlation businesses who operationalize social are succeeding [Include slide if prospect is still in early stages of social maturity and require justification as to “why go social” We are no longer questioning whether social media is impacting revenue and key business goals – it’s about the extent of its impact on your bottom line. According to McKinsey, enterprises who operationalize social are delivering on average 20% more revenue and 60% higher profit growth. Our mission is to help you achieve numbers like these and beyond.
- Retention is like farming. You’re nurturing and protecting your investment. Retaining agents is akin to farming. Farming takes consistency and time, but its reward is stability. Many brokers are focused on recruiting, and retention can be a bit of an afterthought. Like trying to fill a bucket of water while there’s a hole in the bottom. However, a strong retention program or mindset will not only save you money (and stress), but might save you from having to actively recruit at all.
- All about making people feel valued. Not only will that make everyone feel like they’re in the same boat, but get them all rowing the right way In a nutshell, it’s recognition, respect, and treating people as individuals. Giving of your time and attention (even if it’s limited) goes a long way. Learning what makes people tick will make you a more effective leader. Recognition: People want to know when they are doing something right. They want to receive credit for their accomplishments, and they want to know that their contributions to goals of the company are seen and appreciated. Personalization get to know agents individually, and, more importantly, to understand the complex and unique lives that each and every one of them lead. No one wants to feel like they’re a cog in the machine. Your time – the greatest gift you can give what is something that is highly valued these days, but is in short supply? Your time and let me add, attention. You may have 1-1s scheduled, but are you distracted during them? If you are, believe me, your agents notice that. Comes down to respect--- do you show that you respect them professionally, personally, respect their time.
- Focus on Facebook and LinkedIn, Twitter is deceptively complex, so at the end I’ll address Twitter specifically for those who use it. Set aside 5 minutes in the morning specifically for retention activities (block it off in your calendar if you have to. You’ll get a notification to do it every morning it’s already in your schedule as a task. I say this because this is the biggest hurdle when trying to add in any activity. Making it habit. People for make time for things that they value. Don’t think of it has “social” time. Think of it as relationship building time. 2. Set a goal of liking 3 posts and making 3 comments on others’ content in your Facebook News Feed everyday. You don’t have to like or comment on all agents’ posts all the time. Just mix it up enough so that everyone gets some love, but you’re consistent enough to build rapport. Don’t over think comments—one word--“great!” “nice!” or “perfect!” will do. Remember, every like or comment is a notification to that person that says “Jim or Julie has seen this.” Its like a little poke that says, “I’m here and I see you.” 3. Set a goal of liking three posts on LinkedIn everyday Comments are more weighty than likes. Likes are great, comments take a bit more effort and are more noticeable. 4. Facebook visibility algorithm.
- If retention is like farming, then recruiting is like hunting. It means that you are proactively looking for opportunities and making contact with people outside of your current network. You want to be seen as a thought leader, someone who has great connections, a person who can get things done. The idea is to attract people to you and make yourself as attractive to others as possible so that people more receptive when you reach out. And with social, you reach more people with social than you could’ve before. And it’s not just your immediate connections that you’re reaching. Remember how social visibility works—you see posts that your friends and contacts have liked and shared on Facebook and LinkedIn. Your visibility doesn’t stop at the finite number of your own contacts. Again, you’re already great at being a connector and building relationships. You wouldn’t be in the business that you’re in if you weren’t. Now it’s just applying the same principles to social media.
- If retention is about making other people feel valued, recruiting is all about promoting or demonstrating your value or the value of your business to others. Strategy 1. Be great at nurturing and retention! a. When your agents are happy and engaged, they’ll do your recruiting for you. Your current agents are your best advertising. Also Remember how social visibility works, its not just your friends you see your activities. It’s friends of friends, their friends’ connections….you never know who may be eavesdropping digitally. 2. Fish where the fishes are. a. When thinking of recruiting, most people think of LinkedIN. Yes, it is the largest job-seeking site in the world, but thinking of LinkedIn as your only recruiting channel is limiting. All of your social activity could potentially be considered as recruiting. So just like you might find a new recruit at a social event, your presence on Facebook, Instagram, or other online communities can create connections that turn into agents. Proactively reach out to people who might be a good fit. 3. Add value a. Share content that positions you as a leader in your community, a business leader, and as a knowledgeable source in the industry. 4. Humanize yourself a. You are an all-around interesting person with hobbies and skills outside of work like. Just like you want to know about the people you work with (or will be working with), they want to know who you are. You don’t have to post your diary entries or talk about your political beliefs, but a photo of you on your fishing trip or while you’re on your morning run makes you seems like an approachable person.
- Set aside 15 minutes at the end of your day for recruiting activities. Block it off on your calendar. Make it your goal to add one new Friend on Facebook and one new connection on LInkedIn every week. Post once three times on Facebook and LinkedIn each week. For your content to be seen on social media, consistency is key. The more people interact with your posts, the more likely they will see content in the future. On Facebook, 1 or 2 of your posts each week can be specifically work or industry related. Share an agent’s listing, post a photo from an office event, share a real estate tip, or post something funny a la “the Lighter Side of Real Estate.” On LinkedIn, share industry content from C21’s corporate blogs or Inman. Pro Tip: Schedule all your content for the week in one sitting with Hootsuite. You can even find great content to share within your Hootsuite dashboard.
- Twitter is deceptively complex. Takes the most content, has the most native behavior or digital body language Make it easy for others to find you. Tell people on Linkedin and FB that you have a Twitter handle Find industry folks and folks within your community – Connect with people you already know Consistency is key – no algorithm like FB. It takes time. It is powerful