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Research Outline
Prepared for John I. | Delivered July 11, 2019
Best Practices: Hiring Commercial Real Estate Brokers
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Early Findings
Goal:
Determine the best practices for hiring commercial real estate brokers to a brokerage firm in order to hire experienced brokers that are paid exclusively by commission.
Early Findings:
The recruitment and hiring process for new real-estate agents to a brokerage firm tends to follow
this process
: write a job description, identify the type of agent you want to hire through a behavior profile, advertise the job posting online, review resumes and application materials, offer a behavior assessment, like a DISC assessment, to get a behavior profile of applicants, host phone/online interviews, host in-person interviews, check references and make an offer.
Best practices for recruitment include crafting a
value proposition
for your brokerage, using
non-traditiona
l job posting channels or
events
, and having a strong, positive
company culture
.
Best practices for hiring include
using data
to make hiring decisions,
building rapport
with the candidate during interviews, and focusing on candidates
personalities/willingness
to succeed at your company.
B
e
s
t
practices for successfully hiring the agents you want are offering non-monetary perks like
great office space
or flexible schedules, making sure agents are aware of
advancement opportunities
within your brokerage, and having a structured and supportive
training program
once someone has been hired.
We were unable to find any best practices specific to commercial real estate, however, we assumed that the recruitment and hiring process for all types of real estate would be similar.
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