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Revolutionizing Real Estate Recruitment: How HR Strategies Can Transform the Industry

One of the most important parts of running a real estate business, no matter its size, is recruitment. After all, if you don’t have real estate agents talking to clients and closing deals, you won’t be able to generate any profits. For smooth-sailing day-to-day operations, you also need to fill in the roles of property managers, leasing managers, brokers, appraisers, inspectors, and more.

As such, it’s crucial for HR professionals and recruiters to always be updated on the latest trends and technologies. This will allow them to develop game-changing strategies that can transform not just the hiring process, but also the real estate industry itself.

Below is a quick list of HR strategies that you can implement to hire candidates that meet all of your requirements and match your unique business needs. If you haven’t tried them yet, consider doing so now or at least in the near future to revolutionize the way you recruit:

Using Artificial Intelligence and Data Science

Recently, artificial intelligence (AI) has been the subject of many hot debates in relation to art and various creative works. While many still argue the value of this technology in such fields, its benefits are undeniable in real estate recruiting. In particular, AI can be used to speed up and streamline various recruitment steps, including screening resumes and scheduling interviews.

When you couple AI with data science, you’ll get even better results. A good example here is Relitix, which makes use of AI to transform comprehensive real estate data into actionable insights that are customized based on individual recruiting plans. Ultimately, these help brokerages hire, support, and retain the best agents.

What’s great about AI and data science is that aside from perfectly matching open positions to applicants, they can also eliminate biases. Unlike humans, who sometimes tend to be emotional and prone to favoritism, computers are 100% impartial. They only work with whatever data is fed into the system, which results in a more inclusive, diverse candidate pool. For brokerages, this presents a great opportunity to discover more talent.

Capitalizing on Automation

In relation to AI and data science, another recruitment strategy that can change real estate recruitment is making the most of automation. Much like AI, automation can speed up various recruitment processes. This is most evident in video interviewing, candidate sourcing through multiple databases, as well as skills assessment.

What all of these do is free up hours from an HR manager’s or recruiter’s day. This then allows them to focus on other tasks that require more nuance and human touch, such as developing career programs, meeting with clients, and cultivating a talent network.

Another positive result of automation is that it creates a robust talent profile. Of course, faster and more efficient processes also reduce costs and increase margins.

Conducting More Campus Rounds

If you’re looking to hire new real estate agents at entry-level positions, there’s no better place to look than at colleges and universities. This way, you can develop home-grown talents who can then make their way up within your organization.

There are two common ways that HR professionals approach campus recruiting. The first is through participating in campus events, such as job fairs, panel discussions, and hackathons. The second is by setting up an internship program, which can lead to full-time employment. The latter can be especially attractive to young professionals to-be if you’re able to present your brokerage as an ideal place to work.

Leveraging Social Media Recruiting

There are literally millions of daily active users of major social media platforms, like Facebook and Twitter. Even LinkedIn, which is geared towards professional networking and not socialization, sees more than 100 million users logging in and browsing the site. All of this is to say that if you aren’t leveraging social media recruiting, you’re missing out on a lot of opportunities.

What makes social media recruiting a viable strategy is both the potential number of candidates you’ll get and the diversity of the people you’ll encounter. You can also afford to be more non-traditional or even irreverent in certain platforms, which can help generate some buzz around your brokerage. It also drives down recruitment costs by a hefty amount.

In addition, social media is highly location-centric. This means that you can easily look for “area experts,” which is definitely a requirement for real estate agents. Through publicly available social media posts, you can also more easily gauge a person’s interests and passions that can influence the way they work. As a result, you can find the best-suited candidates for the position and for the company culture.

Working on Employer Branding

The final item on this list isn’t strictly an HR strategy for recruitment, but it can certainly change the way you hire new employees. Indeed, your employer brand is that one differentiator that can set you apart from others. Keep in mind that, technically, all real estate brokerages are the same. Hundreds can offer the same job title and the same compensation package, but the top candidate will choose the company that resonates the most with them.

If you haven’t polished your employer brand yet, now is the time. Define your mission, vision, and values, as well as the culture you want to embody. Make sure that all of these are evident in the materials you put out, especially job ads and recruitment posts on social media.

 

All in all, the recruitment industry remains largely the same. The major differences are dictated by technology, which you should incorporate into your strategies where possible. This will make your job as HR professionals and recruiters more efficient, productive, and rewarding.

 

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