The Covid Catalyst

by | May 22, 2020

As many of you know, our company sources thousands of recruiting prospects each month for real estate companies across the country.

We recently added a new question to the landing page of the application.

Why are you considering a career in real estate at this time?

The question is optional, but more than 70% of applicants provide feedback.

As suspected, the health crisis has driven many high-quality prospects to engage. Here’s a quick sampling of some of the recent responses:

I have over 10 years of experience in food service sales. Covid-19 has destroyed the restaurant business and I am looking for a change. Shannon (Albany, NY)

I had a real estate license years ago in south Florida and am looking to get back into it after a change in my long-time job due to Covid-19.  Amanda (Tampa, FL)

I am a retired academic scientist (PhD). I closed my food-truck passion-project due to the coronavirus. I enjoy working with people and love new experiences. I have always enjoyed the home-buying process and will excel in home sales given the opportunity. Randen (Central, PA)

I was laid off of my job due to COVID-19, and I have been using this time to look into a different career. I have been thinking about real estate for a while now and wasn’t sure exactly where to start. Marlene (Fresno, CA)

Due to the coronavirus, I have lost a large part of my income. I am looking for an opportunity to work with a great team to help people find homes. I am ready to start right away. Martin (Davenport, IA)

From an employment perspective, the marketplace quickly flipped from many jobs available/few applicants to few jobs available/many applicants.

As a hiring manager, this puts you in a position to engage many talented individuals and select only the best to be part of your team.

 

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.

The Attrition Variables

The Attrition Variables

While these attrition constants still have the greatest influence, there are some emerging attrition variables worth noting. People also tend to leave companies when: They feel like they’re not doing as well as others in their peer group outside the company. They feel like they’re not as far along as they should be at a certain point in life.

The Attrition Constants

The Attrition Constants

If you’re not focusing most of your retention effort on these issues, you’ll miss the mark. If you’re not focusing most of your recruiting effort on exploiting these weaknesses among your competitors, you’re missing the best opportunities.

The Persistence Mindset

The Persistence Mindset

A leader equipped with this mindset can have a profound effect on the life and career of each individual they engage. It works because an agent is getting a real-time glimpse of what it would be like to work on your team. But it only becomes believable when it is persistently applied over time.