Recruiting’s Siren Call

by | Oct 8, 2024

Getting a consistent number of new recruiting prospects to engage is difficult.

So many hiring managers rationalize that a lower number of prospects will suffice.

I’m better at connecting with the right individuals—so I don’t need as many prospects.

I’m better at interviewing and closing the prospects in my recruiting funnel—so I don’t need as many prospects.

I’m really good at picking the winners, so I focus most of my effort on just a few high-potential candidates—so I don’t need as many prospects.

This is the same line of reasoning athletes use to do fewer practice reps, anglers use to make fewer casts, and agents use to make fewer prospecting calls.

All these scenarios lead to the same outcome: poor results.

After working with many high-performing hiring managers over the last decade, here are the sourcing metrics they use to drive outstanding results:

You must engage about 30-40 recruiting prospects to produce 4 good interviews (10-15% interview rate).

You must conduct about four good interviews to produce one high-quality hire (25% interview to hire rate).

When things get difficult, the shortcuts always come calling.

The best hiring managers know better than to listen.

 

The Simple Psychology of Real Estate Recruiting [2nd Edition]

Unlock the secrets of effective real estate recruiting. Revised to include actionable frameworks for sharper execution and to help you turn psychological theory into a repeatable recruiting system.

How to Work a Recruiting Funnel Like a Pro

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This framework helps us remember there’s a natural pace and process that honors talented prospects—it makes them feel valued and respected. If you’re not getting the number of high-quality hires you desire, work back through each step of the recruiting funnel.

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But what happens when the prospect is NOT qualified? If you’re being selective and focused on hiring talented agents, at least 80% of recruiting prospects are not going to meet your standards. Here are some ways to wrap-up a call with an unqualified prospect.