Miami Realtors
Recruitment and Retention

It’s Not About the Money

It’s Not About the Money…

It’s ALL About the Relationship!

We are all bombarded with the message REALTORS are now conveying to prospective and current Brokers…I can’t afford to…

  1. Pay Fees…or
  2. Change Companies…or
  3. Stay in the business…

The honest truth is…they can’t afford not to.

What we have to acknowledge and embrace in the world or recruiting and retention is that what they are saying is not what they mean.  In today’s market, we are hearing the voice of fear rather than the voice of reason.  When we encounter these responses, remember the key to objection handling.

As members of our Covenant Coaching know, the key to objection handling is to remain logical.  When we hear money as the objection as listed above, logically consider these questions as a response…

  1. “I can’t afford to pay fees”…What are they currently paying to their Broker?  When multiplied as a monthly or annual fee, what is the total?  How does this reduction in compensation compare to a monthly investment (not fee!)
  2. “I can’t afford to change companies in this market”…What does your current company offer as support and value to increase their business (revenue)?  How is that working for them?  What is the result of these perceived benefits?  Are they satisfied (financially and emotionally) with these results?  Compare their current results to the “value added” benefit of associating with your organization.  What is the “potential” increased income based on the opportunity of being with joining you today
  3. “I can’t afford to stay in this business”…What opportunities do they have available to them as another stream of income?  If their alternative it to attempt to earn an hourly income…do the math (with them).  This is an exercise we frequently use in our coaching program where we multiple the potential hourly income by the number of hours worked.  Compare their potential income resulting from one transaction resulting from investing those same hours (monthly) into their real estate career.  You will quickly see, the highest and best use of their time is to invest in their real estate career.

In the current market we are experiencing, we cannot stress enough the value of investing in the relationship vs. focusing on the money.  For recruiting and retention, pull the focus away from the $’s and into the relationship and you will reap greater rewards in both areas of your business.

Article Courtesy of Judy LaDeur International

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