Recruiting For Real Estate - How to Hire Right Everytime!

January 14, 2021 Ylopo (Enterprise)

Recruitment in real estate is a critically important step that can ensure either the success or ultimate failure of a business. Coach Eric Hatch outlines his proven 9 step real estate recruitment process that ensures the right people are being hired for the right positions every time. Aside from the traditional steps of posting the job ad, reviewing resumes, and conducting interviews, Hatch also adds a critical career night, essay questions, extra deep reference checks, and a 2 hour culture-fit interview. The result? A carefully crafted and meticulously preserved culture, low employee turnover, and a team of people you can trust the success of your business to.

Video Timestamps:

3:15 - 5:38 - The biggest hiring mistake out there

11:10 - 12:35 - The numerical breakdown you need to hire right

15:35 - 17:00 - The crucial, yet rarely practiced recruiting step - career night

18:52 - 19:26 - Do this instead of your standard reference check

41:10 - 45:20 - The interview question you should ask that actually can grow your business

49:14 - 51:25 - This is the right way to hire an ISA

Long-Form Notes/Summary:

Real estate coach, investor, and entrepreneur, Eric Hatch knows a thing or two about recruiting, but he didn’t master the process of finding the right people for his team without making a few mistakes along the way. When first starting out, Hatch went about recruiting all wrong. He hired the wrong people, put them into the wrong positions, and wasn't the leader he needed to be. When these mistakes ultimately blew up his business, he found himself on the brink of bankruptcy in 2011 and was forced to start over. The first thing Hatch did differently with his new business was recruitment. Eric Hatch developed the following 9 step process to ensure he was getting his hiring right every time.

Step one: Place the well-written job ad.

One of the biggest mistakes out there that Hatch mentions, is people are spending their time hiring, not recruiting. Hiring means you have a vacancy on your team, you post a job ad, and you hire someone to fill that role. Recruiting is an on-going process where you’re searching for people who fit your culture and want to work for your particular company, not just in real estate in general.

Step two: Review resumes and social media profiles

Hatch encourages you to be meticulous about reviewing the resumes and looking for any mistakes. Also search for inconsistencies and red flags on social media profiles. You want to try and get a feel for who this person really is, and not just who they want you to see through their resume.

Step three: Have career night

Instead of painting a picture of how amazing Hatch’s company is and why people should want to work there, Hatch goes a different direction. He paints a picture of how difficult the job will be, the time commitment it will require, and the sacrifices needed to be successful in the role. Part of that process is having a career night where people who expressed interest in the job are invited to meet as a group to learn more about the job. Hatch only proceeds with interviews for those candidates who show up to career night and then further eliminates people based on his impressions of them from career night.

Step four: Have candidates complete a job questionnaire (essay questions)

To continue whittling away at candidates, the next step involves applicants to complete an essay-type questionnaire.

Step five: have the first 30 minute interview followed by a background check for successful candidates

Step six: do deep reference checks

Hatch believes that the standard process reference checks done by most companies are not enough. His primary goal is to protect his company’s ecosystem and culture, so instead of the standard 3 reference checks, Hatch can obtain up to 9. The first three references are obtained from the candidate. The next three are obtained from the first round of references, and the final three are obtained from the second round of references. This extreme vetting process ensures that Hatch has a clear understanding of who the candidate really is and what their skills are before investing even more time into the hiring process.

Step seven: Have a 3 hour interview (2 hours culture, 1 hour job competency)

Step seven is both crucial and a bit uncommon. Hatch conducts a three hour interview where the first 2 hours are spent talking about the candidate’s personal life and journey. Hatch digs deep, while being careful not to ask questions that are not legally permissible, by asking a lot of “why’s” and “how’s”. The purpose is to get to the root of the candidate’s values, goals, grit, culture, and ultimately what makes them tick. Culture is key for Hatch’s company and he stresses that even one wrong culture fit can poison the entire dynamic of his business. The final hour of the interview focuses on job qualifications and competencies.

Step eight: Final interview/validation (w/ CEO or team)

The last real step of Hatch’s hiring process is the final interview, where the candidate interviews with the most senior level, such as a CEO, or the team that they’ll be working on. Typically this final validation occurs somewhere like a coffee shop or bar. The goal is to put the candidate into another environment, somewhere more comfortable to take them out of the formal interview setting. Often putting them into a more casual setting can subconsciously allow the candidate to let their guard down, revealing even more of who they truly are as a person and helping Hatch determine if they are trustworthy.

Step nine: Offer the job

Hatch believes that by following this 9 step process, you will set your company up for success by carefully preserving your company culture, hiring a team of people you can actually trust with your business, and reduce the rate of employee turnover thus ensuring the ongoing stability of your organization.

About Ylopo LLC.

Ylopo is a “next generation” digital marketing technology company. Founded in 2016 by Howard Tager and Juefeng Ge, Ylopo has built an intuitive online marketing platform that delivers innovative “Do-it-Yourself” cross-platform digital marketing services specifically designed to serve the real estate industry.

Ylopo’s complete digital marketing solution exists to enable real estate agents and teams to more quickly and effectively grow their businesses and brands.

Benefits Provided To Real Estate Agents & Teams: