“Poaching” is the latest buzzword and, no, we are not talking about the dwindling numbers of our country’s endangered wildlife. What we are actually speaking about is the somewhat new trend of poaching qualified agents from other agencies.
To be fair, agencies have always had a relatively high level of staff turnover – understandable in a commission-driven industry – and this doesn’t necessarily become a problem until agents with the right qualifications and vast amounts of experience decide to join another agency that supposedly offers much more. Headhunting is a common practice in the corporate world; however, although top agents may have switched alliances and joined another agency in the past, the numbers were relatively low and the practice went largely unnoticed. This has now changed.
It takes time and money to train an agent, and while some agencies are willing to invest in their workforce, it seems others are more intent on luring qualified agents into the fold.
“The poaching of competitors’ estate agents has become a full-time occupation, with a number of national groups having employed fulltime recruiting officers,” says Anthony van der Riet from The Coaching Factory. “The reason these principals want experienced agents is that they don’t need training and will start selling almost immediately.” Van der Riet quite rightly points out that, just as you need air, water and food to survive, your business needs good people to make it flourish. Successful principals shouldn’t work only in the now but should also be planning for the future and dedicating their efforts to employing future real estate stars. “After all, your best agent in three years’ time has not entered the industry yet.”
The South African real estate industry has always attracted an older set. Think about it: many agents started selling property later in life once they had retired from their respective careers in other fields. And why not? In the past the profession put up very few barriers to entry and selling homes was the ideal way of keeping busy and helping to subsidise a pension. Last year it was estimated that the average age of an estate agent working in this country was 54 years old.
Of course, things have changed: although it’s still possible for the very determined to sell homes, potential agents have to jump through an enormous number of hoops in order to become qualified. There are costs involved, too: they range from R4 950 to R12 500, depending on which training route is followed. It’s pretty obvious that this has put a lot of older people off the idea, but where has this left the industry? If truth be told – a little top-heavy. It would therefore appear to be in the best interests of agencies across the country to start employing intern agents.
“The poaching of competitor’s estate agents has become a full-time occupation, with a number of national groups having employed full-time recruiting officers” – Anthony van der Riet, The Coaching Factory
There are a number of very good reasons why this would be beneficial. Interns can be trained correctly from the start and learn how to work within timeframes in order to complete their logbook and NQF 4. In addition, they often bring new ideas to the business and enhance motivational levels within the agency.
Not everyone is suited to selling property, and there are certain traits that principals should look out for before taking the decision to bring an intern on board. Competitive individuals as well as peoples’ people (those who are able to sell themselves and their company to all personality types) traditionally perform well in sales.
Self-discipline and motivation also play a key role in any agent’s success, and individuals who possess these traits generally won’t need constant supervision in order to perform at their peak. Interns, particularly the younger generation who haven’t built up cash reserves of any description, should display a certain amount of financial responsibility, because money will initially be tight.
Individuals who are less suited to the real-estate-selling game include high maintenance individuals and those who enjoy the stability of routine. There’s also no place for negative people in sales – they don’t sell well, and they affect the morale of the entire office.
Unfortunately, as things stand, senior agents regard interns as a hindrance or nuisance, as it takes them time to train the new recruits.
Van der Riet believes that senior agents who take the time to train and guide interns should be paid a portion of the rookie agents’ commission.
It may be a good idea, given the amount of handholding and training involved, and it could help develop talented individuals who could go on to be top performers in the industry.
Words: Lea Jacobs
