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Three months into 2022, you might find yourself with a business ready to grow and a need to add agents to increase your market dominance. With the Final Four Teams selected and March Madness almost over, you will find many parallels between winning basketball teams and successful real estate teams. Leading each of these teams is a coach or team leader with a strong recruiting strategy. Even if your bracket is busted or you are not a sports fan, the principles from these college coaches with decades of experience can be used to help you recruit agents. The acronym of Final FOUR (Foundation, Organization, Universe, Resources) will help you recall these principles as you add agents to your team, brokerage, or organization this season in your business.
Foundation: Develop and communicate clear company culture.
Recruiting and developing a team for the first time, you'll need to establish and understand what you stand for and want to build. In this step, it's critical to define core values and culture. (Click here to access a resource to create your core values.) If you are a seasoned agent and have recruited in the past, review and refine your foundation before you begin recruiting agents to your organization.
Coach John Wooden led the UCLA men's basketball team to 10 NCAA national titles as he built a dynasty. He also developed the Pyramid of Success. This framework outlines life principles to create a roadmap to success. Within the Pyramid, there are 15 principles. Many organizations use these ideas as their core values.
Action: Develop core values and use them as a reference point to identify and hire talent for your business.
Organization: Communicate your wins and the playbook you provide.
The playbook for your business is the blueprint for success. The strategy is refined over time, allowing you to continue to attract new agents and win new clients. While you recruit agents for your brand, you should be willing to share parts of your game plan. CINC client John Mikesh shared his 4 critical steps during the recruiting process. He's used this method to grow his eXp team and organization.
The playbook might take time to refine. Legendary coach, Dean Smith, took over a North Carolina program in 1961 that was on probation. Not only did he clean up the program in his 36 years as a Tar Heel, but he developed playbooks and strategies within the game which would propel him to be one of the most recognized coaches and win two national championships (1982 and 1993). As the team leader, he recognized the value of positive results and the importance of building a relationship within the team.
"To me, the players got the wins, and I got the losses," Dean Smith said. "Caring for one another and building relationships should be the most important goal, no matter what vocation you are in."
Action: Understand your goals and business strategy for the organization.
Universe: Cultivate an online presence and a network.
In all markets, there is a large pool of real estate agents. The differentiators will be tenure in real estate, production volume, and how the agent will fit within your organization. Networking within the market allows you to understand the landscape of the talent available. New agents will require a ramp period within your organization, whereas with an experienced agent, you'll see a quicker pathway to production.
Like Dean Smith's focus on relationships, Head Coach at Duke, Coach Mike Krzyzewski is known for recruiting players and coaches within his network that understand his on and off-the-court philosophies. His presence and previous successes have allowed him to attract both talent and experience. As Coach K ends his coaching career, his recruiting philosophy within his network remains. His successor, Jon Scheyer, is not a current Head Coach (he has no previous Head Coaching experience) but a prior player at Duke and a member of Coach K's staff. The combination of talent and experience has earned Coach K the title of the winningest basketball coach.
Action: Network at your MLS or association events to connect with currently producing agents.
Resources: Provide a pathway for continued success.
Recruiting never stops, even after finding the right agents to join your team. It is essential to focus on keeping your talent and growing your bench. A team leader helps with retention by investing in agent development, providing support and learning opportunities, and helping an agent increase production.
Pat Summitt, the University of Tennessee legendary women's basketball coach who ranks as one of the most winningest coaches (men's and women's), developed a plan to improve each player's weaknesses. The plan was used as a measuring stick to get better, providing regular feedback. To build the best team, you need to set up ongoing sessions to coach your agents. It's not just an annual conversation but a regular assessment.
Action: Set up goals and performance plans from the very beginning.
Now that you have the steps to recruit, it’s important to continue to win. Many top real estate teams believe deploying technology and lead generation within their business is the next phase of long-term success. Investing in solutions like CINC allows you and your agents to build a predictable pipeline of new business. As you enter the Spring Buying Season, may you have the mindset of a champion and continue to win new business.