How Do You Find Purpose In Your Work

ow Do You Find Purpose In Your Workby Ben HessLast week, I reminded you that agents usually have a larger, external purpose (outside their business) for which they’re working (ex. supporting their family, reaching a financial goal, helping a certain group of clients, etc.)And multiple studies show a link between a sense of external purpose and high performance.But what about having an internal sense of purpose? Does that matter too?Of course, it does.The individuals who are most productive tend to be those who are also finding purpose in their day-to-day work.But how do you quantify something as nebulous as “finding purpose in their work?”Researchers asked thousands of workers this question, and the feedback was surprisingly simple.Here are the top two answers:I feel a sense of purpose at work when I’m regularly accomplishing tasks.I feel a sense of purpose at work when I’m creating value for my team or organization.These down-to-earth responses beat out the more esoteric replies: doing work I’m passionate about; doing work that adds meaning to my life; and doing work relevant to the community.When building a team, focus on the basics of defining tasks and demonstrating how those tasks contribute to the end goal.When recruiting to your team, highlight how focused and engaged your existing agents are in their day-to-day tasks.


Did you miss last Friday’s Recruiting Mastermind?

Topic:  Against All Odds: Growing During Challenging TimesGuest:  Steve Murray, Founder of Real Trends

Listen to the Replay NowWant to listen on the go?  Text: Mastermind to (206) 556-0483

Recruiting Insight Launches The Hiring Marketplace In Four US Markets

Just In Time Candidate Sourcing For Real Estate Team Leaders

Woodinville, WA – March 6th, 2023 — On March 3rd, 2023, during a virtual event held for broker-owners and team leaders, Recruiting Insight announced the launch of its Hiring Marketplace platform serving the Orlando, Florida; Dallas, Texas; Phoenix, Arizona and San Diego, California markets.

“We are excited to expand our recruiting solutions offering for the real estate industry and help team leaders acquire the talent they need to deliver consistent quality service and sales,” said Ben Hess, Managing Partner of Recruiting Insight.

The just-in-time candidate sourcing solution helps solve one of the industry’s most significant problems. A Harvard Business Review article on hiring suggests businesses have never done as much hiring and never spent as much money doing it. According to the Society for Human Resource Management businesses spend an enormous amount on hiring an average of $4,129 per job in the United States.

The Hiring Marketplace helps solve this problem by doing the heavy lifting at a lower per-candidate cost in a just-in-time environment. This innovative approach allows busy real estate team leaders and single office broker-owners to focus on driving the business and engaging the most talented pre-screened candidates.

Proven Customer Impact

The Recruiting Insight enterprise has been serving the real estate industry with various products for the past 15 years with great success, and the Hiring Marketplace is an extension of that success. Scott Nelson, CEO of Comey & Shepherd Realtors, stated: “The Recruiting Insight team has provided us with a consistent stream of high-quality recruiting leads for many years. I’m excited to see this new phase of support.”

Launch Markets

Mark Johnson, a Managing Partner at Recruiting Insight, indicated the company conducted initial testing in Southern Florida, gathered customer and candidate feedback, and is now ready to launch in four key markets: Orlando, Dallas, Phoenix, and San Diego. Other markets will be added consistently in 2023 and beyond. “For candidates, we help get them matched up with high- performing real estate teams. For the team leader, we do the heavy lifting, so they can focus on what matters most: leading the business,” said Johnson.

Despite market conditions and a challenging sales environment, there is still significant interest in a career as a real estate sales professional; the company reports a strong flow of candidate inquiries. The selection rate is competitive, with nearly 20% of applicants moving to the next phase, which helps Team Leaders identify quality candidates who get into production faster.

Founded in 2005 as Tidemark, the firm was rebranded as ThirdPool Recruiting in 2015 and most recently added the Recruiting Insight brand umbrella. The company offers three recruiting services for the real estate industry: ThirdPool, CoRecruit, and the Hiring Marketplace.

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Recruiting Insight is a privately held firm, and through its product offerings of ThirdPool, CoRecruit, and the Hiring Marketplace services broker-owners and teams in more than 80 markets across the United States. Based in Woodinville, Washington, the firm is led by industry veterans Ben Hess and Mark Johnson.

For more information, press only:

Mark Johnson
972-521-4215
markj@recruitinginsight.net

For more information on Launch Markets:

www.hiringmarketplace.net

How Not to Work Yourself to Death

In an email from executive coach Bill Watkins about the patterns he sees among business owners and entrepreneurs who overwork.I know your struggle here. It’s easy to over-prioritize our businesses because we think it’s what our families need.I’ve been there, trust me. And I lost, broke, missed, and paid dearly.Is there an alternative?According to Bill, there is a pattern used by the most driven, successful, and happy business owners.They make a plan. Write down what you want and what it will take to get there. Review it frequently.They put together a team. Going at it alone is not a business–it’s a death sentence. That’s not hyperbole. You don’t have to die to end your life—especially if you lose, destroy, miss, or break the very best parts of it.They have a sounding board. Surround yourself with peers who you can vent to—people who can speak to what you’re going through rather than being threatened, frightened, or worried by it.They make hard calls. Frequently say no to things that don’t lead to your long-term success. Protect your most valuable assets.They make progress every day. You must take small steps in the direction of the life and business you want, and the person you want to become.Whether you’re a business owner or a manager who acts like one (because you care so much), this is advice you need to hear.

 

Uncovering a Recruiting Prospect’s Purpose

Author Po Bronson reminds us of an old parable you’ve probably heard a few times.There were three bricklayers who were all working on the same job.When they get a break, one guy asks the other two, ‘Why are you doing this job?’The first guy says, ‘I’m doing it for the wages.’The second guy says, ‘I’m doing it for my wife and kids.’The third guy looks up at what they’ve been building–a church–a place to get in touch with God. He says, ‘I’m helping to build a cathedral.’ Most people hear this parable, and they think the third guy has the right answer.But that’s not the lesson being taught.All three men have a sense of purpose—the cathedral is just a conduit for their purpose to be realized (self-sufficiency, family, or spirituality).They’re all good. They’re all “right” answers.The real lesson of the parable is this: Notice that no one answered, ‘I just love laying bricks.’ Agents usually have a larger purpose that inspires the work they do.Your job as a recruiter is to uncover your prospect’s true purpose and then help them see how working with you will enable them to flourish more in that purpose.

 

Discuss and Do Meetings

Author and serial entrepreneur Dan Martell recently shared one of his life hacks that may help you become a better recruiter.For Dan, a typical video meeting lasts 30 minutes and has the following agenda:Quick updates.Questions on the ideal outcome for the topic being discussed.Background information needed to take action on the topic.Working on the issue for 15 minutes.Let the other person know to circle back if they need something more.Notice the fourth item on the list.He actually does the follow-up for the meeting during the meeting.The alternative – and what I did in the past – would be to say “I’ll follow up over the weekend when I get a chance to breathe…and then I would overflow my to-do list.Using a working meeting forces conscious attention for micro projects….  It’s key to doing more in a day and not having a to-do list that scares you.How can this help you be a better recruiter?Use this technique when you’re meeting with referral sources: Can I make some introductions for you?Use it with prospects who may be trying to solve a problem: Let’s take 15 minutes and get this problem solved right now…Use it to show your agents how to make referrals: I’m going to make two referral calls for you during our meeting…By doing this you’re training, setting an example, and sparking reciprocity all at the same time.And you’ll have less follow-up on your to-do list.How do you lose on this idea?

 

Accomplishing a Little Bit of the Impossible

A couple of weeks ago, I advised you to set SMART recruiting goals by identifying objectives that are attainable. While this sounds reasonable, great leaders often inspire their followers to push just past the attainable and ask for a little more. In a post from the archive, here is one leader’s observations of how high performers set goals and what they want from their leaders. High performers want a goal that’s just a little bit impossible (vision). They want a leader who can paint the picture of how to get there (direction). They want a leader who will be honest enough to tell them they are off track (feedback). And they want a leader who, when the goal is achieved, remembers to say: “Unbelievable–what you just did was impossible!” The chances of accomplishing great things improve when you reach just beyond what you believe to be your limits. Teach yourself this lesson first, then ask others to join you in accomplishing a little bit of the impossible.

 

Growing During the Storm–Part 2

On Friday, I pointed you to  Steve Murray’s study after the real estate recession between 2005 and 2011. The study documented the performance of 17 remarkable companies that grew substantially during the prolonged downturn while most of their peers just struggled to survive.  When asked how they did it, the leaders of these organizations shared some of their wisdom in short but actionable quotes. Here are my five favorites: Recruiting: Focus on finding people who have the right blend of skills, attitude, and attributes that increase their chance of success.  –David Lutton Productivity: Our goal became not to be the biggest but to be the most productive, the most professional. There is no one way to succeed–pick one and adjust as you move along.  –Patrick Finnick Market Mindset: We looked at the market slowing and concluded that to grow we would have to focus on market-share growth (taking from our competitors), so that became among our top priorities. –Chris Meyers Strong Partnerships: We work every day–all the time–on building strong relationships with not only our own people, but also with all of those in the market with whom we work with to get deals done for clients and customers. –Casey Cook Retention: We decided that as close as we felt to our sales professionals, we needed to get much closer still. These terrible times required stronger, more intimate relationships that were real.  –Erica Hill While these quotes offer some thoughtful guidance, they don’t provide the detailed insight and framework necessary to relate it to today’s market conditions.  This would require more time and focus than we can cover in our daily Insights. That is why we asked Steve to join us for our Recruiting Mastermind this Friday at 1pm EST / 10am PST to cover this topic in much more detail.This Mastermind session is free to all Recruiting Insight readers.  See additional info and registration details below.

Growing During the Storm

Quick history lesson today. Between 2005 and 2011, the real estate industry experienced a monstrous recession.  During that period, real estate sales volume fell from over $2 trillion/year to just under $1 trillion/year. If the same percentage of GDP decline would have happened across the whole economy, economists would have classified it as a depression. Remarkably, 379 of the Real Trends 500 companies (75%) survived this multi-year recession—most of them hanging on by their fingernails. But what’s even more remarkable is that 17 of these companies not only survived but grew substantially during this period of time. In what way did they grow? On average, these outliers increased their agent counts by 88%, increased their number of sides by 134%, and increased their per person productivity by 22% during the six-year recession. Who are these companies?  How did they buck the trend so successfully? Shortly after the recession, Steve Murray, founder of Real Trends, tracked down the leaders of these organizations, studied their performance, and wrote a short e-book on how they prospered during the worst of times. This weekend, I encourage you to download Steve’s e-book (Against All Odds) and see what you can learn about growing during difficult times. The prognosticators are telling us 2023 is going to be a difficult year for the real estate industry. It’s the perfect time to be an outlier.

 

Uncovering a Recruiting Prospect’s Dissatisfaction

Individuals often make a change when they become dissatisfied.Getting a prospect to express their dissatisfaction during an initial interview opens the door for an emotional connection to develop.So, how do you get someone to express their dissatisfactions?Just ask.Most people are willing to talk about their struggles, but during a first meeting they’ll need to be prompted a little.You’ll have to ask open-ended questions specifically focused on potential dissatisfactions the candidate may be experiencing.  For example:If you could change something about your current broker, what would it be?Tell me about your current manager….If you could change something about your current financial situation, what would it be?Tell me about the other agents you work with…Do you feel that you are a good fit on your current team, or is something missing?Uncovering dissatisfactions will help a prospect feel listened to and understood.Only then are they truly able to hear potential solutions to their problems.

 

Quitter’s Day

According to research conducted by Strava (a social network for athletes), 50% of individuals give up on their New Year’s resolution by January 19th. This is known as “Quitter’s Day.” Another 30% (higher performers) make it until the second week of February before they throw in the towel. The final 20% who make it past these two benchmarks have a good chance of seeing their goals materialize because they’ve used the previous six weeks to build the activity/task-level habits that support these goals. Why do people give up before getting to the six-week mark? Resistance. When you decide to make a positive change in your business, it seems the whole universe starts to conspire against you to keep that change from happening. People who make it into the top 20% tend to start the process with these two mindsets: 1.  They expect the change to be met with a large amount of internal and external resistance. 2.  They know the resistance will only last for few weeks before the new habit will take root. With the right mindset, you can outlast the resistance and realize the goals you hope to achieve. By the way, it’s not too late to set recruiting goals for 2023.  Thinking its work is done, the universe takes a nap about this time of year.

 

Two Questions Every Recruiter Must Ask Themselves

Yesterday, I introduced the Procrastination Equation which states:Your tendency to overcome procrastination = (Expectancy x Value) / (Delay x Impulsiveness)The numerator in the equation (Expectancy x Value) is what’s known as the Expected Utility Theory.Many economists believe this equation does a good job explaining most human behavior.From this viewpoint, almost every decision you make—from deciding if you’ll workout today to attending your child’s sporting event—is based on how much pleasure or  perceived value you’ll receive and the degree of certainty you will receive it.Since it’s the engine that drives behavior, it cannot be ignored when recruiting.Frequently ask yourself these two questions:Do I expect to be successful when performing my recruiting tasks?Is there a tangible payoff when I successfully complete my recruiting tasks?Unless the answers to both these questions are a resounding “Yes!”, you’re going to struggle with avoiding the important work of recruiting.To get to a yes, you must change something about the task or what you believe about the task.For example, if you don’t expect to be successful in making recruiting calls, change your script, change who you’re calling, get a referral before calling, observe your peers making recruiting calls, etc.To overcome recruiting inertia, you must evaluate your actions at the behavioral and task level.This is where your mind decides what it’s going to do.

 

Slaying the Procrastination Monster

Last week, I seemed to have touched a nerve by connecting poor recruiting performance and procrastination.While pointing out a problem is helpful, providing a solution is more difficult.According to author Piers Steel, a viable solution to procrastination must address all four of the following components:Expectancy: your assessment on the likelihood of successfully completing a task. Value: how much enjoyment you’re going to experience when the task is complete. Delay: you tend to naturally value rewards that can be realized quickly more than rewards that require waiting. Impulsiveness: the combination of low conscientiousness, low self-control, and high distractibility.The components of procrastination relate to each other via the following equation:Your Tendency to Overcome Procrastination = (Expectancy x Value) / (Delay x Impulsiveness)Take a minute to think through this equation in terms of recruiting.If you’re frequently putting off the recruiting tasks, the reason lies in how these components relate to each other.And your path for defeating procrastination lies in diagnosing how this equation is controlling your actions.Attempting to slay the procrastination monster with swift, decisive action never works.Instead, it must be slowly deprived of its air supply through small actions and mindset changes.

 

How to Reduce Failed Hires

Nothing’s more frustrating than executing the recruiting process flawlessly, and then seeing your new hire fail to launch and experience success on your team.We call these “failed hires”, and they ought to be avoided at all costs.At ThirdPool, we define a failed hire as someone who joins the organization and leaves within 90 days.It’s common for real estate companies to experience a failed hire rate of 25% or higher.If you’re struggling with failed hires, there could be several factors contributing to the problem.One issue worth addressing right away is the first impression your new hires experience on or shortly before their first day on the job.John Sullivan documented some best practices for making the most of your new hire’s first impressions.Send them a thank-you note. Immediately thank them in writing for accepting your offer. Also reinforce the decision in that note by reminding them that they have chosen wisely by listing the factors that make your firm outstanding.Send them “a startup package.” The starter package should include things such as frequently asked questions, a number to call if they have any questions or concerns, and a checklist covering everything to do–up to and including their first day.Post a “joining announcement.” Announce they are starting at your firm on your social media pages and Twitter. This creates positive peer pressure.Introduce them to their mentor. This shows them you’ll be supportive from the start. Have the mentor make contact and begin helping the new hire on or before the first day.These best practices demonstrate your positive belief in the new hire’s decision to join the team and increases the chances they’ll follow through on their commitment.

 

The Hidden Reason You Procrastinate

According to author Piers Steel, about 95% of people admit to procrastinating, and 25% say it’s one of their chronic and defining characteristics. As it relates to recruiting, most hiring managers jump into that 25% group when it’s time to make an uncomfortable call, write a personal email to a prospect, or do other proactive tasks necessary for recruiting success. When discomfort is at its highest level, procrastination seems like a good idea. Why? According to researchers, it’s related to the underlying character trait of impulsiveness: Showing self-control or delaying gratification is difficult for those who are impulsive. They don’t have the ability to endure short-term pain for long-term gain. Impulsiveness also determines how individuals respond to task anxiety. For those who are less impulsive, anxiety is often an internal cue that gets us to start a project early. But for those who are more impulsive, it’s a different story. Anxiety over a deadline will lead straight to procrastination. If you find yourself suddenly morphing into being a procrastinator when it’s time to recruit, try moving upstream of the problem by addressing impulsiveness. Unless the root cause of impulsiveness is addressed, the procrastination will continue.

 

Help Us Create Something Amazing

Let me tell you about our incredible team…This is the angle most recruiters and hiring managers take when trying to convince a recruiting prospect to join their organization.What if you tweaked this message a little and it became:We have a great team, but if you were involved–it could be amazing!The first approach is the same old tired message your prospects hear from all your competitors.The second approach inspires your prospects by offering influence and ownership.Stop convincing and start inspiring.The most talented individuals want to use their life energy to create something remarkable.