Ever lost a top-producing agent or had a promising MLO slip through your fingers? Or struggled to convince a talented professional to join your brokerage or team? Yeah, me too. It’s easy to think compensation plans and fancy tech are the only answers, but the truth is, the principles of influence are the unseen forces that can make all the difference in attracting and keeping the best talent.
Forty years ago, psychologist Robert Cialdini cracked the code on this phenomenon in his groundbreaking book, “Influence: The Psychology of Persuasion.” And guess what? In today’s competitive real estate and mortgage landscape, understanding and applying these principles is absolutely critical for broker owners and recruiters.
My “Aha!” Moment (and Cialdini’s) – Tailored for Leaders
Cialdini’s journey into the world of influence started with a seemingly simple encounter. For us in leadership, think of it like this: remember that star agent you almost lost to a competitor? Or that rockstar MLO you couldn’t quite close? It wasn’t just about the commission split they were offered; it was likely about the way the opportunity was presented and the underlying psychological factors at play.
That got Cialdini thinking: “Isn’t that interesting? Isn’t that worth studying?” And for us, the question becomes: “How can we leverage these insights to build a magnetic brokerage and attract and retain top-tier professionals?”
The Six (and Now Seven) Pillars of Persuasion – Your Recruitment & Retention Toolkit
Cialdini’s research revealed six key principles that underlie effective persuasion. Here’s how broker owners and recruiters can strategically apply them:
- Scarcity: Don’t just talk about your brokerage; highlight unique opportunities that agents/MLOs might miss elsewhere. Limited-time incentives for joining, exclusive training programs, or a cap on the number of agents in a specialized niche can create that crucial sense of urgency and FOMO (Fear Of Missing Out). For retention, subtly remind them of the unique benefits they enjoy that competitors might not offer.
- Authority: Position yourself and your leadership team as industry experts and thought leaders. Share your successes, provide valuable market insights, and showcase your mentorship capabilities. This builds trust and makes your brokerage a desirable place to learn and grow. For retention, consistently demonstrate your expertise and provide ongoing support that reinforces your authority as a leader.
- Social Proof: Showcase the success stories of your current agents and MLOs. Testimonials, awards, high sales volumes, and positive team culture all serve as powerful social proof. Highlight how others like them are thriving in your environment. For retention, publicly celebrate their achievements and foster a strong sense of community where agents/MLOs feel they are part of a successful collective.
- Liking: Build genuine relationships with potential recruits and nurture those connections with your existing team. Be approachable, listen actively, and show genuine interest in their goals and aspirations. A positive and supportive brokerage culture is a huge draw. For retention, prioritize open communication, create opportunities for social interaction, and foster a sense of belonging.
- Reciprocation: Go the extra mile to provide value before asking for commitment. Offer valuable resources, training sessions, or networking opportunities to potential recruits. For your current team, consistently offer support, mentorship, and resources that help them succeed. This creates a sense of obligation and loyalty.
- Commitment and Consistency: Encourage small initial commitments from potential recruits, like attending an informational session or having a casual coffee chat. Once they’ve made a small step, they’re more likely to make a larger commitment to join. For retention, publicly acknowledge their contributions and encourage them to take on leadership roles or participate in brokerage initiatives. This reinforces their commitment.
And that crucial seventh principle:
- Unity: Emphasize the shared values, vision, and culture of your brokerage or team. Highlight what makes you unique and create a sense of “us.” When recruiting, focus on finding individuals who align with your core principles. For retention, cultivate a strong sense of community and belonging, where agents/MLOs feel connected to something bigger than just their individual transactions.
Why This Matters More Than Ever – The Competitive Edge
In today’s fiercely competitive real estate and mortgage markets, simply offering a slightly better commission split isn’t enough. Understanding and strategically applying these principles of influence can give you a significant edge in attracting and retaining top talent. It’s about creating an environment where agents and MLOs want to be, not just where they feel they have to be.
My Takeaway: Lead with Connection and Shared Purpose
For us as leaders, the biggest takeaway from Cialdini’s work, specifically applied to our world, is the power of connection and shared purpose. It’s not just about convincing someone to join or stay; it’s about building a community where they feel valued, supported, and aligned with a common goal.
So, the next time you’re looking to recruit a top producer or retain a valuable team member, think beyond the basic incentives. How can you leverage scarcity, authority, social proof, liking, reciprocation, commitment, and – most importantly – unity to create a truly magnetic and sticky environment?
What are your thoughts on applying these principles to agent/MLO recruitment and retention? What strategies have you found most effective?
