Joshua Rayner, CEO of Rayner Personnel and bestselling author, dives into the art of relationship building in the real estate sector. He discusses the pitfalls of hasty hiring and the importance of strategic recruitment, likening it to sports team management. Rayner highlights the challenges of promoting top salespeople without proper training and the shift towards self-employment in the industry. He also reflects on how kindness can shape enduring relationships in business, underscoring the impact of compassion in professional success.
Building meaningful relationships through consistent engagement at industry events is essential for long-term success in estate agency.
A systematic approach to client interactions post-sale helps agents remain top-of-mind, fostering trust and encouraging referrals.
Effective recruitment strategies and a supportive workplace culture are critical for reducing turnover and enhancing team stability in real estate.
Deep dives
The Importance of Building Relationships
Building strong, meaningful relationships is essential in the estate agency industry. An emphasis is placed on the value of consistently attending industry events to cultivate connections, rather than adopting a transactional approach with clients. This focus on relationship-building not only fosters trust but also creates opportunities for referrals, ultimately leading to long-term success. By committing to adding value to these relationships—whether through support, resources, or introductions—agents set themselves apart from others who may only engage during a transaction.
Maintaining a strong relationship with clients extends beyond the sale of a property. It is crucial to have a systematic approach in place to regularly interact with clients throughout their journey. This includes touchpoints even after the sale, such as providing market updates, salary insights, and seeking referrals. By creating a structured process for ongoing engagement, agents can ensure they remain top-of-mind when clients decide to move again or recommend their services to others.
Addressing High Attrition Rates in the Industry
The high turnover rate among property professionals poses challenges for both employees and employers. With an average tenure of just 17 months, agents often move on before developing lasting relationships with their clients. This short duration underscores the need for strategies that create a supportive workplace culture, offering clear career paths and development opportunities. When agencies prioritize staff retention by investing in their employees, they can improve continuity and stability in their client relationships.
Recruitment Strategies for a Sustainable Workforce
Effective recruitment strategies are essential for reducing turnover and building a strong team. A proactive approach to hiring, rather than reacting to immediate needs, allows agencies to assemble a 'subs bench' of potential candidates. This continuous hiring process promotes finding the right person for the position, who fits the culture and objectives of the agency. Investing time in nurturing existing employees, combined with a well-structured hiring process, can enhance team stability and performance in the long run.
Embracing Change and Evolving with Market Trends
The estate agency landscape is changing, requiring adaptability to new trends and technologies. Adopting a mindset that embraces innovation is vital for staying competitive in a market where many agents are still using outdated methods. Adopting new technologies can streamline processes and improve efficiencies, allowing agents to focus on building relationships. As the industry evolves, it is important for both employers and employees to recognize and adapt to these changes to remain relevant and thriving.
Today's guest is CEO of Rayner Personnel and quite possibly the most well connected person across the estate agency industry.
As a visionary entrepreneur, his journey over the past two decades has been driven by a singular mission: to create unparalleled value through talent within the UK's Property, Financial Services, Land & New Homes and PropTech sectors.
At the helm of Rayner Personnel, he steers a team of seasoned recruitment consultants, each dedicated to empowering organisations nationwide to attract, engage, and sustain high-calibre talent.
Their guiding collective WHY is straightforward yet profound:
"To help people find great companies & companies find great people."
Beyond his role at Rayner Personnel, he is a recognised thought leader, an Amazon.co.uk #1 bestselling author of "The Recruitment Rollercoaster", a mentor, and a non-executive director.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode