Agent Interview and Income Data Sheet — Form 500 and 504

Finding the talent you need

As a broker operating an office employing sales agents and broker-associates, your success depends in large part on the quality of the individuals you employ.

The path you take to recruit agents you employ in your brokerage office depends on your business model. Some brokers hire as many agents as they can squeeze into cubbies in their office. For them, it is a numbers game for blanketing the real estate markets, an MO sometime called a media broker. Others recruit only those agents and broker-associates with track records that exceed typical production standards. Still others focus on a niche market employing only licensees who practice in that sector.

But before you create a plan for hiring agents/broker-associates, your recruiting goal needs to be set. Only then can you plan just where you are going to find talent — and how you will solicit it.

To set recruitment goals, you need to decide:

  • how many agents you want to hire;
  • the personal qualities you are looking for in an agent;
  • what categories of individuals are you going to solicit, such as:
    • pre-licensed prospects;
    • inactive licensees;
    • newly licensed agents; or
    • experienced agents; and
  • how much time and staff you will commit to training and supervising these agents.

These different types of prospective hires have varying needs and skill levels. Thus, the time you are willing to commit to necessary training and supervision may well determine who you will focus your recruiting efforts on.

Meritocratic pre-screening for potential hires
Realistic financial expectations — set accurately and early
Broker as the source of information
Only you can estimate future fees
An agent’s analytical use of the data sheet