How much time should you spend on recruiting agents into your real estate company? In the book, The E-Myth Real Estate Brokerage, I recommend some time commitments. For a brand new company, I say that the broker should spend 35% of his or her time on that task. For an existing brokerage, my recommendations drops to 20%.
In addition, many brokers think they can hire someone else to recruit for them. DON’T! The broker/owner of the company is always the BEST recruiter. It is ok to hire someone who may work in tandem with you, but this must be the owner’s first job priority. I have recently heard a differing opinion of my estimates of time needed to be spent on this. What I heard from a respected real estate consultant was this: Whether a new or existing company, the Broker/Owner should plan on spending 40% of his or her time on agent recruitment.
Why? You tell me. What do you think? I would like to hear from you!