Opportunistic Hiring. Why Hiring Talent in a Tightening Market makes perfect sense...
Updated: 9 minutes ago
Investment strategists around the world like Warren Buffet stick to a very simple formula to grow exponential wealth. "When everyone is getting out, that's exactly the time to run in."
See, that's the opportunity. Positioning ones-self to take advantage to buy into a down-turning market seems counter-intuitive right? Surely, if everyone is holding tight or getting out of something, who in their right-mind would rush in?
29 years as a Recruiter...that's how long I've been helping companies find the right people to help their business grow. 29 years of ebbs and flows in the economy, 29 years of seeing the patterns, 29 years of watching the cycles...and, in my experience, now is the right time to capitalise on talent...
We are seeing more of the best candidates open and available to looking at a new opportunity in the last 3-months than in the past 3 years, candidates we just couldn't find for love nor money back then like very experienced Senior Property Managers, Heads of Department, BDM's, PA's / EA's, Sales Admin, Operations Managers and of course, Sales Agents and Sales Associates with track records... candidates that if one became available, we'd place within a day or 2...
When the market tightens, it can be an excellent time to identify and secure talented people who may have been difficult to attract in a stronger market but there are pitfalls you need to consider too...
The opportunity isn't necessarily to recruit more people. It's to recruit the right people, at the right time, for the right reasons, and swap-out the bad eggs, non-performers or difficult staff for more experienced talent with stronger track records and refresh the Agency with a stronger team whilst you can... Effectively build a stronger bunker...
Why a Tightening Job Market Can Create Recruitment Opportunities
When business confidence is high and the property market is booming, talented Real Estate professionals often have plenty of options to choose from, and have Agencies and Recruiters approaching them all the time with attractive offers...
All Sales Agents tend to perform well in good markets and their earning good commissions during those times, so there is no real motivation to jump to another Agency other than for a bigger commission split or a better growth opportunity, so the game is usually played at how much split an Agency is willing to give, or how much money they are willing to offer to secure that PM or EA etc...
Smart Agencies who are established in their markets tend not to play the wild commission split and over market salary game to attract the wrong types of Agents or support staff. They build a bunker of talent. They stick to their "Apocalypse team", the team that will survive when all others are dropping around them like flies, the loyal people who know their roles inside out, the relentless performers, honed in their skills, and they look after those people very well so they have no need to leave, before they go splurging on growth for the sake of growth...
Smart recruiting is who do you let into your bunker? The ones you want are the ones that add real value, real skills, the ones you need on your team to survive. Everyone else is just a drain on resources... Smart Agencies always have this mindset. Who do I let in my bunker...?
Average Agents who were getting by in a booming market are now finding it extremely tough or impossible because of their lack of the fundamentals and inability to win or maintain business. Their the ones we see calling-in asking us to find them an Agency that is willing to pay them a salary or a Credit/Debit salary so they can stay in the game. As the market gets tighter, it's the wave of average Agents we tend to see flood the market first...and it takes a keen eye and a solid gut instinct to know which ones to pass on.
The motivation for top-performers isn't money, it's culture, brand, and joining a team that slips through harder times relatively unscathed. Top-performers want to join a better bunker. A team that has seen it all before, a team that has the right fundamentals down and the right support wrapping around their teams... This is what's attractive to them. Security in the face of uncertainty...
Usually the higher commission splits thrown around to attract Agents in a good market came at the expense of the right support, training, guidance, mentorship and it was an easy trade-off for an inexperienced Agent in a good market, trading learning the fundamentals and aiming straight for the Agencies that offer the most commission split, because houses pretty much sold themselves...all they had to do was get the listing...
Now, without that intensive training, guidance, mentorship and support from a well run Agency, all of a sudden, Agents and support staff seem more open to re-adjusting to survive... to find that well run Agency with the right bunker, the right back end support staff, that tightly managed rent-roll that provides the odd leads here and there, that guidance, mentorship and ongoing training coupled with clean market data...
As an Agency owner, it can be much easier to attract Agent's and support staff now than it was before, but its also much harder to see who are the right ones... but, its also an opportunity to get the right ones... Think of your Recruiter as hired security. The Recruiters that check everyone before letting anyone through the gate...
Economic uncertainty, changing business structures, reduced growth opportunities, changes in remuneration and concerns about the future can prompt professionals to reconsider their next move. It takes a good Recruiter to filter out the ones that add value to the "Apocalypse bunker" rather than constantly pitching you everyone that applied to their Job Ads hoping you will take them...
Not everyone will be looking to move, of course. Smart candidates are also weighing up if your bunker is better than theirs. The best performers may remain firmly committed to their current businesses. However, a changing market can open conversations that would have been much harder to start during a booming market...
The Best Talent Doesn't Always Come From Job Advertisements
One of the biggest mistakes employers can make is assuming that the best candidates are actively looking for a job. Usually the ones eagerly applying for Job Ads now, describes the first wave mentioned above... Their usually the ones to avoid at all costs...not always, but usually...
In reality, many highly capable professionals are what recruiters call passive candidates. They're already employed, they're not applying for advertised positions, and they may not even have considered changing agencies, yet, they could be exactly the person your business needs.
Think about an experienced Sales Agent with an established local network, a strong reputation and a proven track record, or a Senior Property Manager who knows how to retain clients, lead a team and maintain service standards under pressure and someone that their clients would follow no matter where they went next. These people can have an immediate impact on a business. Their great additions to your "Apocalypse team" an well worth considering if you can...
If you're relying exclusively on job advertisements and waiting for the right person to apply, you could be missing some of the strongest candidates in the market and cluttering your inbox with wannabe's. Opportunistic hiring takes a different approach altogether.
You might not have an immediate position available. That's okay. Being open to the right people joining your team based on the skills they bring and being able to onboard them now is smart.
Sometimes, the most valuable recruitment conversation starts with a simple question:
“If the right opportunity came along, would you consider a move?”
You may be surprised by the answer.
Experienced Real Estate Agency Owners Look Beyond the Current Market
It's easy to make hiring decisions based entirely on current conditions.
If sales volumes soften, commission income fluctuates or operating costs increase, recruitment can quickly move down the priority list, but there is an important distinction between hiring because you need to replace someone and hiring because you recognise an opportunity to improve your business.
Replacement hiring is reactive. Opportunistic hiring is strategic.
For example, consider a residential Real Estate Agency that wants to grow their market share over the next 12 to 24 months. A Recruiter brings them an Agent that has already proven they can transact at volumes greater that $200k - $500k GCI. That brings someone to the team that doesn't need their hand held every day and already knows the listing game, and all you have to do is sharpen their spear and you get a new Agent in the team that could add and additional $150k - $350k to your revenue over the next 12 months...
Find 2 or 3 more of those in a tightening market, and things don't look so dire...
The Cost of Waiting for the Market to Improve
One of the most common hiring strategies during uncertain times is to wait.
Wait until confidence improves. Wait until sales volumes increase. Wait until the business feels more comfortable. Wait until competitors start hiring again. This is a missed opportunity...
There's nothing inherently wrong with caution. Every appointment needs to make commercial sense.
But waiting also has a cost...
If you wait until the market improves and every Agency starts recruiting again, you could find yourself competing for the same limited pool of experienced professionals as everyone else and the musical chairs starts again....
The candidates who were open to a conversation during a quieter period may have already accepted other opportunities. Competition for proven performers may intensify, and the recruitment process could become more challenging. Meanwhile, the businesses that used the quieter period to strengthen their teams may be better positioned to take advantage of improving conditions. They come into stronger markets with better teams, more skilled teams and higher-performing teams...
This doesn't mean every Agency should hire ahead of demand. It means principals should carefully consider the cost of doing nothing alongside the cost of making an appointment.
The question isn't simply, “Can we afford to hire someone now?” It's also, “What could it cost our business if we miss the right person?”
Why Experienced Real Estate Professionals Can Be Particularly Valuable
Not every new appointment produces the same return.
In a tightening market, the commercial value of experience, capability and established relationships can become even more important.
Consider the potential contribution of an experienced Sales Agent who understands their local market, maintains a strong database and knows how to convert appraisals into listings,
or a Senior Property Manager who can manage complex client relationships, retain landlords and help a team operate efficiently, or a Business Development Manager with a demonstrable ability to win new managements and grow an Agency's rent roll...or even a gun PA / EA who is supper efficient at supporting high-performing teams.
These professionals may bring more than their immediate output. They can contribute industry knowledge, established relationships, stronger processes, mentoring and leadership.
Of course, experience alone doesn't guarantee performance. Cultural fit, integrity, work ethic, current results and the ability to operate within your business model all matter. The objective is to identify people who can deliver measurable value, not simply add another name to the payroll.
For some Agencies, that might mean securing a high-performing Sales Agent, for others, it could mean strengthening Property Management, finding that gun sales support person, improving leadership or finding someone who can unlock a new growth opportunity.
The right appointment depends on the business, it's financial position and it's objectives.
How to Take Advantage of Opportunistic Hiring
So, what should Real Estate Agency owners actually do?
You don't need an aggressive recruitment budget or a plan to expand your headcount overnight. You need a clear understanding of your business and the people who could help it succeed.
Here are five practical steps.
1. Identify the roles that could make the biggest difference
Look at your business honestly. Where are the bottlenecks? Which departments need stronger leadership? Are you missing sales opportunities because your team lacks capacity? Is your rent roll growing as quickly as it could?
Prioritise positions with a clear business case rather than recruiting simply because a candidate is available.
2. Define what an exceptional candidate looks like
Don't settle for a generic job description.
Identify the skills, experience, relationships, achievements and personal qualities that would make someone genuinely valuable to your agency.
For a Sales Agent, that might include evidence of consistent listings and sales. For a Senior Property Manager, it could include portfolio performance, retention and leadership. For a Business Development Manager, it might be a proven record of winning new managements.
Be specific about the outcomes you expect.
3. Start conversations before you have an urgent vacancy
Talk with your Recruiter about the types of people you'd like them to keep an eye out for.
Keep in touch with experienced professionals, develop relationships within your local market and make sure you understand what could motivate a high-performing candidate to move.
A relationship established today could become a valuable recruitment opportunity tomorrow.
4. Be ready to move when the right person becomes available
Opportunistic hiring only works if your business can make informed decisions in a reasonable timeframe.
Understand your budget, remuneration structure, onboarding process and expectations before you begin speaking with candidates.
When an exceptional person becomes available, you'll be better equipped to assess the opportunity without rushing into a decision.
5. Work with a recruiter who understands the real estate industry
The strongest candidates aren't always glaringly obvious.
An experienced Real Estate Recruitment specialist can help you identify potential candidates, understand their motivations, assess their suitability and navigate conversations with people who aren't actively looking for a new position.
Just as importantly, a specialist recruiter can help you distinguish between someone who looks good on paper and someone who is genuinely suited to your business.
In a competitive market, access to the right people and the ability to recognise a good fit can make a meaningful difference.
The Bottom Line: Your Next Great Hire Could Be Available Right Now
After 29 years in recruitment, I've learnt that successful hiring isn't just about finding people when everyone is recruiting. It's about understanding the market, recognising patterns and knowing when an opportunity is worth pursuing.
When business confidence falls, many employers naturally become more cautious. Some stop recruiting altogether, but the businesses that continue to think strategically can use this period to review their teams, identify capability gaps and build relationships with people who could help them grow.
You don't need to predict exactly when the market will turn. You need to know what your business requires, what you can afford and which people could make a genuine difference, because when conditions improve, you want to be ready — not starting from scratch while every other agency is trying to recruit the same people.
Is now the right time to find your next great hire?
If you're a Real Estate Agency Principal considering what skills you'd like a Recruiter to keep an eye out for, feel free to submit a Job through our website and one of our Recruiter's in your state will be in touch...
If you're a candidate looking for a better bunker, feel free to register with us by submitting your details below and one of our Recruiters will be in touch to work out a plan.
