The real estate industry from a recruiter’s perspective
It is no secret, presently recruiting the right talent has become a major difficulty in almost every industry due to increased competition and a vast choice of work environments for candidates to choose from. This is of course also the case with Real Estate.
Most real estate jobs in Malta have commission based pay and although commissions in such sector are extremely attractive, there is no particular safety net for agents if a difficult month comes around. To add to that, when selling property, agents have to wait months upon months of bureaucratic procedures for them to get the pay cheque. On the other hand, with renting the situation is different as that is a quicker way of making money but not necessarily more rewarding than the other. The above thought could already be quite stressful, yet to add to that, being purely a sales job, individuals need to have a high level of persistence to sustain the “no’s” from clients and other possible failures that come with the territory.
On the positive side, whether renting or buying property, this has become very much indeed a necessity for almost each and every adult individual. That said the market is still very active and reaching new heights.
But is the real estate market attracting enough sales people to join up?
It seems that the shortage of people is evident, yet making an agency an attractive place to work for could be a start. In my opinion, this lies on the three main pillars: • Database of property • Attractive commission structure • Work culture and training
First and foremost, having a rich database to sell is essential! If you do not have the product, you cannot sell it. Showing three apartments to clients instead of one, will definitely increase the odds of a sale and give more courage and motivation to the agent.
Secondly, the higher the commission, the more it will motivate agents to keep pushing further and ultimately earn more money. If agents are not very engaged with the company, chances are that they will move for the next better rate on offer.
Last, but definitely not least, is the effectiveness of the culture within the company and a number of leading agencies are moving towards this. Some agencies are recruiting people without experience, train and nurture them in an attractive work envi- ronment and boost organisational commitment within the company. Recruiting people without experience is definitely based on a long term project as one cannot expect his agent to become an expert in the space of a couple of months.
Taking all the above into consideration, the headache of recruiting top talent in real estate will not stop anytime soon, yet through a database of experienced local and international real estate agents, Erremme Recruitment (W: www.erremmrecruitment.com / E: recruitment@erremme.com.mt) can offer a solution to local agencies. We invite you to get in touch with us today to discuss further.