How to Recruit Top Talent | The Residential Specialist

The ability to identify and recruit top agent talent is a skill that savvy real estate team leaders should strive to master

By Meredith Landry

Is it their experience level or a willingness to hustle? Is it an extensive network, book of sales or local market knowledge? Turns out, what makes a real estate agent a top talent is different depending on who you’re talking to.

We asked two veteran agents about what they look for when recruiting new talent to their teams and how other broker/owners can follow their lead to improve their own recruitment efforts.

Thinking outside the box

In his 36 years as an agent, coach and trainer, Steve Epstein, CRS, senior partner at Epstein Partners, a Keller Williams firm in Santa Barbara, California, has only traditionally recruited one person.

“I have only actively recruited one person during my entire time of running a team, and that was somebody I had known through another business that was going out of business, so I offered him a job,” says Epstein.

How is that so?

Because Epstein isn’t looking for experienced agents who want to advance their careers—he’s looking for people who may not even have their real estate licenses at all.

“I don’t want experienced agents because I don’t care how they think it should be done,” he says. “They may have bad habits, they may have different expectations regarding the quality or level of service, and I don’t want to have to train and untrain someone at the same time. I am much happier taking people who have no background in real estate.”

He might be onto something, too. The average cost per hire in the real estate industry is estimated to be between $3,000 and $5,000, which includes using real estate recruiting software to streamline job postings and follow-ups, according to Brokerkit. So perhaps not relying on these traditional tools could provide some financial relief.

Epstein says he prefers to leverage his own personal network and “sphere of influence” when looking to hire new team members. In fact, many of his top agents today were once his clients or came through personal recommendations.

“They’re good at what they do, know how I do business and how I conduct myself, and they wanted to be part of that,” he says.

Currently, Epstein’s two top-performing agents came to his team from a Ford dealership where they sold cars.

“Maybe the concierge at the Ritz Carlton gave you incredible white-glove service, or the bartender at your favorite restaurant went above and beyond with his customer service,” he says. “If they’re really good at something you value, why not ask them if they’re ready for a change of scenery?”

Before bringing on an interested candidate, however, Epstein insists that all recruits take a personal evaluation test similar to the Myers-Briggs test.

“We use the KPA (Keller Personality Assessment) to understand how they tick,” he says. “Nobody gets near me without first taking the KPA.”

The tool helps identify candidates’ strengths and potential fit within the team since, as Epstein has learned, you can’t teach someone everything.

“People will tell you who they are very quickly. And you should not fight that,” he says. “I used to think I could teach anybody how to be a great real estate agent. And I’ve learned the hard way that I can’t.”

A rigorous vetting process

Because the real estate industry continues to grow, so does the number of people wanting to get in on the action. As of today, 27% of REALTORS^® in the business have only been licensed since 2020, according to the National Association of REALTORS^®. And the Bureau of Labor Statistics anticipates an increase in employment for real estate brokers and sales agents by 4% from 2021 to 2031.

Because of this flood of potential new talent, Debra Beagle, CRS, CEO, managing broker and co-owner of RE/MAX Advantage in Nashville, Tennessee, takes a more structured and traditional approach to recruitment.

Beagle’s recruitment strategy involves a rigorous vetting process to ensure that new agents align with her team’s culture and values.

“We vet everyone who wants to join our team,” she says. However, she’s only interested in bringing on agents who want to pursue real estate as a full-time career—folks who just want to look at pretty houses need not apply.

To assess potential recruits, Beagle’s long-time in-office recruiter uses a multi-step process, starting with the applicant sending a simple two-minute video via text so Beagle’s team can assess how they present themself. This is followed by a virtual meeting to gauge their presentation and communication skills, and then an in-person meeting. This initial screening helps identify resourceful candidates who take initiative and align with the company’s servant leadership philosophy, she says.

Once hired, the process includes an additional 110 hours of education in the first three weeks of joining the brokerage, on top of their licensing requirements.

“About half of our team members are newly licensed, while the other half are very experienced,” she says. “But everyone has to do this training.”

The perks

Both Epstein and Beagle say they don’t typically have to work too hard to convince a new recruit that their firm is a great place to work. Most new hires, they say, are immediately sold on the in-house services that come with a larger brokerage, including a dedicated transaction coordinator, marketing, advertising, photography, videography, staging, website maintenance and more.

“I don’t try to sell my team,” Epstein says. “I want people to see the value in what we offer, from handling marketing to scheduling inspections.”

While Beagle says she’s enthusiastic about the growing pool of untapped talent, she has also brought on and let go agents that weren’t a good fit, which is why her team stays committed to their stringent recruitment process.

“Many people got into the business and didn’t realize how demanding it would be,” she says. “And we would rather avoid crushing someone’s entrepreneurial spirit.”

Epstein and Beagle say that recruitment success hinges on recognizing potential, fostering a collaborative culture and equipping agents with the tools and training needed to excel.

“We are constantly learning, and egos are out the door,” Beagle says. “No matter how long you’ve been in the business, there’s always room to grow and improve.”