There are no two ways about it: technology has changed the face of real estate recruitment. From applicant tracking systems to candidate relationship management software, real estate recruiters now have access to a variety of tools that make their jobs simpler and yet more in-depth.
For a better appreciation of this inevitable change, here’s a quick look at how technology has reshaped the landscape of real estate recruitment:
Tech Attracts Candidates
One of the most challenging facets of recruitment is sourcing. After all, you can’t recruit real estate professionals if they don’t know about your brokerage in the first place.
Fortunately, if you’re using technological solutions like the CRM software Brokerk kit, it will be easier to attract candidates. Many real estate professionals, particularly real estate agents, are looking for brokerages that will not merely be their employers. Rather, they’re looking for organizations that can be their partner in career growth.
Through the use of real estate recruitment software, you’ll not only be able to simplify your search for suitable candidates. You’ll also be able to highlight the fact that you’re not only willing but are already capable of supporting your real estate agents with technology. Essentially, using technological solutions from the very beginning of the recruitment process shows that you’re able to walk the talk.
Tech Speeds Up Screening
There are many steps involved in the entire real estate recruitment process, and one of the most time-consuming is screening. Going through tens of applications for a single job can be tedious and it can eat up your precious hours that could have been spent on other tasks. Still, this is a necessary part of recruitment to ensure that you’re hiring the best people for your brokerage.
Fortunately, using technology such as artificial intelligence (AI) can speed up your screening process. With the help of machines, scan hundreds or even thousands of resumes at a time, highlighting skill-based and behavior-related keywords to match your requirements. Even CRMs can be used for social media lookup to cross-reference work experience. AI can also be used to pick up body language cues in recorded videos.
Tech Reduces Bias
As a real estate recruiter, you have to be as fair as possible. However, it’s also true that everyone has inherent biases. Many of us can fall into these unconscious prejudices, which can affect the screening and selection process. Thankfully, the aforementioned AI and other relevant recruitment technologies can help remove this issue from the equation.
Obviously, the technology is not 100% foolproof. Machines and AI technology can overcome human prejudice, but they can also end up using previously collected data to form their own “preferences.” Ultimately, it’s still up to the recruiters and hiring managers to decide if the candidate is suitable for the job. Using technology can help provide straight and objective data, but it’s the human capability to detect nuance that will ensure good hiring results.
Tech Improves Retention
Another key issue with regard to real estate recruitment is retention. Indeed, many recruiters focus too much on finding and hiring the best agents when they should be dedicating the same if not more attention to making them stay. All your efforts will be put to waste and you’ll end up back to square one if your new hires leave after a few months.
This is another issue that technology has helped address. Thanks to the data collected by the aforementioned CRMs and other software, recruiters and managers can devise better retention programs. Technology can also help facilitate better communication and streamline workflow, which are crucial elements of a real estate agent’s job.
Ultimately, through the effective use of technological solutions, you can find and retain the best agents for your brokerage. This results in more productivity, better customer relationships, and lower overall talent acquisition costs.
Tech Boosts Expansion Efforts
Last but certainly not least, technology can boost your brokerage’s expansion. In real estate, this means two things: hiring more people and establishing your presence in more places. The former isn’t too much of an issue, as long as you can commit to your end of the contract. The latter, on the other hand, can be a little trickier. After, setting up an office in a new location takes a lot of work and resources.
With technological solutions, however, you can expand your brokerage’s coverage without having to actually build an office just yet. Through remote working, you can hire real estate agents from other states and start growing your clientele as soon as possible. Then, eventually and if resources permit, you can rent office space or even build your own headquarters in the new location.
These are just a few of the many ways that technology has changed real estate recruitment for good—and obviously for the better. The key to maximizing the benefits is to familiarize yourself with these technologies and then determine which ones can yield the most benefits for your brokerage.