by Mike Sharkey
Staff Writer
In the off-season of all professional sports, much of the talk centers on free agency and potential trades.
Who’s available? What did he do last year? What kind of contract will he want? Who is his agent?
There isn’t an off-season in real estate and there isn’t a lot of talk about top agents switching brokers and who newly-licensed agents will go to work for. But, the recruiting end of real estate is one of the industry’s most important and fastest-growing aspects.
Just about every major real estate company has either a recruiter or, more formally, a “career counselor” these days. Like a pro football team’s player personnel director, they are looking for people (or, in football terms, “free agents”) who want a better deal — primarily, a bigger chunk of the commission, but also goodies like an assistant or a car.
And, like a college football coach scouring high school campuses for the next All-American player, companies are looking for hot prospects entering the industry.
“This has truly been a great year so far,” said Audrey Richie Lackie, career counselor for Watson, who has 1,750 agents in Florida and Georgia alone. “Last year, we brought on 190 new associates. This year, so far, we have brought on 162.”
Volume may be good but, like sports teams, the people who put up the numbers are in the greatest demand. The Jacksonville Jaguars don’t sign linebackers who haven’t proved they can get to the opposing quarterback, and real estate companies aren’t looking for agents who aren’t going to bring in listings or sales.
Linda McMorrow has been selling real estate since 1976 and has been with Prudential Realty Network since August of 1988, the day the company changed names from Epping Forest Realty. In fact, McMorrow is one of the original five agents still with Prudential (the others are her sister/partner Selby Kaiser, June Nix, Leesie Burgsteiner Snell and Holly McMurry).
Today, she and Kaiser are one of the most successful teams in the area. Last year, they combined to sell $18 million worth of real estate after selling $46 million in 2003. McMorrow said she and Kaiser are approached by other brokers every now and then, but rarely directly.
“It’s a very soft sell,” said McMorrow. “It used to be an ethical violation to approach another agent, but that’s not true anymore. Every now and then I will get a card in the mail from Watson that says something like, ‘The grass is greener on the other side. Let’s sit down and talk about it.’
“I am still with Prudential because I care very much about who we associate with. There’s also great loyalty. We started with Prudential and Linda Sherrer.”
McMorrow said Vanguard GMAC came after her and Kaiser hard a few years ago.
“They really pushed Selby and myself to join their brand new firm. They were anxious to get a few big names to help get them started,” said McMorrow, adding the offer wasn’t tempting. “When I first started selling real estate, I worked for Watson in this market and before that Coldwell Banker in northern Virginia. I was used to big companies and that’s what I wanted when I came here.
“If we ever left Prudential it would be to open our own company, not to work for anybody else. We have the ability to do that and we have the name recognition. Part of the appeal of Prudential is not just the agents, but the owners.”
Judy Davis is the recruiting coordinator for the three Re/Max offices here owned by the McAfee family. She’s also a listing and selling agent who’s been in the business since 1986 and with Re/Max the past four years.
Davis said her interaction with agents from other firms is one of her best recruiting tools.
“I go after people I come in contact with,” she said. “I like people who I think will be great to work with and they may not be that company’s top producer. I like to see the potential in someone. I know what I’m getting into after I have worked with them and hopefully I am bringing a complement into the office.”
Lackie also has her license but concentrates solely on recruiting and career counseling. She said the two biggest changes in her job the past couple of years have been the sheer numbers wanting to get into real estate and the number of men entering the industry (it’s still about 70-30 women to men these days, but about half the attendance at Lackie’s career fairs consists of men).
While she doesn’t have any control over who eventually chooses to get a real estate license, Lackie feels it’s important to make sure people really want to get in the industry in the first place. She does this by hosting career fairs for people in other fields and counseling sessions for those who recently obtained their licenses.
“I try to get to them before they make a change because it may not be right for them,” said Lackie. “When you explain what it takes to be successful in real estate, some of them say, ‘Oh no.’ Some don’t have the right personality to go knock on a door or pick up the phone and they are not willing to do it. They spend all that money getting their license and have no clue what to do. When I meet with them in discovery, I don’t talk about the company. I talk about the career.”
Davis said she actively recruits new agents for Re/Max in a variety of ways, but mostly she creates a rapport after working with an agent on a transaction and being impressed with them enough to feel like they would be a real asset to the company.
“I have no hesitation about having them in my home to talk about switching,” said Davis, who admits she’s the set-up person for Re/Max.
Owners Bob and Ann McAfee seal the deal.
“I like for them to meet Bob and Annie. I may start (the process), but they finish them off. When I first met Bob and Annie, I had worked other places. After talking to them, I signed up that day.”
Davis said the prospect of being her own boss and controlling her financial destiny sold her on the McAfees and Re/Max.
“I liked what they had to offer in the sense that I’d run my own business. My license is there (at Re/Max) but I run my own business. I am my own boss and I like that,” said Davis, who is always on the lookout for a positive addition to the company. “When the opportunity arises, I will make a phone call.”
Davis said there are two major aspects that must be considered when attempting to lure an agent from another firm: their recent sales history and their reputation. An agent who sold $1 billion worth of real estate is certainly appealing, but not if they are a jerk. On the other hand, an agent with solid, modest sales and a terrific personality is in great demand at Re/Max.
“I’d like to know if they are going to fit into the office, so it’s a combination of sales and personality,” said Davis. “I look for people with a sense of professionalism. We are not in the business of teaching people how to write a contract. They are supposed to know that already. I look for people that are going to complement Re/Max because I work there, too. I want to build a good team.”
Lackie said many of the same principles apply at Watson.
To her, the issue is as much about making the right career choice as it is about choosing the right real estate firm. She said the fact that Watson has had one owner the entire time the company has existed (Bill Watson will have owned the company for 40 years this Dec. 16) creates a stability factor few others can claim. It’s times of instability, like the sale or renaming of a firm, that creates opportunities for her to approach outside agents.
“Any time there are major changes, you have people unsettled by it,” said Lackie. “Some don’t like change and they may start calling around. We don’t target everybody. We target individuals that fit the company structure.”
Lackie also said the basics — like the compensation package Watson offers — help attract and retain agents for years. An agent like Jan Shields, who sold $66 million worth of real estate last year, may be wooed by others, but Watson will always make it difficult to leave.
“We have an excellent commission schedule and we pay for a lot of expenses. It would take a lot to get someone like Jan away,” said Lackie, adding that there are immeasurable factors at play, too. “There are intangibles that are hard to put a price tag on. The numbers two, three and four companies together equal our market share. Watson is a brand in Jacksonville and that kind of name recognition is hard to replace.”