I often advise recruiters and hiring managers to be selective when recruiting and hiring.

Since you only have a limited amount of time and energy, it must be focused on those who have the highest chance of success and who are a good fit for your team.

The same principle applies to retention.

In a private webinar a few years ago (I just came across my notes from this talk), Steve Harney described the three types of agents:

Money-Oriented. These are the agents who got into the business because of the short-term financial opportunity.

Business-Oriented. These are the agents who saw a great opportunity to build a business which allows them to take care of their families financially. They also love to help their clients and are dedicated to doing so.

Calling-Oriented. These are the agents who are “called to the business,” and their first and foremost goal is to help people. Being a business owner is a secondary goal, and making money is a side-effect of their profession.

During the last few years, the real estate industry attracted a lot of money-oriented order takers because times were good.

As the easy money dries up, these agents are not worth retaining.

Agents in the last two categories are worth retaining, and investing in these groups only makes sense.

Why?  They’re the ones who will help your company survive during all marketing conditions because they make long-term commitments to your clients.

When thinking about where to spend your retention resources and attention, ask yourself:

Is this a business-oriented or calling-orientated agent?

You only have so much time and energy—invest it wisely.

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PS. Have you registered for this Friday’s Recruiting Mastermind?  Hiring and retaining the right agents during difficult times will position you to grow while others are languishing.  Mark and Michael will show you how this can be done–even in today’s market.   Register now.