Hiring your first ISA is a game changer for your business and not a decision that should be taken lightly. Bringing on the wrong person for this spot on your team could cost you tens of thousands of dollars in lost compensation and sales opportunities.
To make the decision easier for you to make, I’d love to able to tell you that there’s a magic number of transactions you must have completed or certain number of months you should have worked as an agent before you hire an ISA.
But I can’t.
What I can tell you though, is what you need to have in place or be able to do before you bring an ISA on board. If you can meet these minimum criteria, then by all means, go out and get yourself a highly-qualified ISA immediately:
This dollar amount allows you pay for up to 5 months salary and allow for any hiccups that might happen while your ISA is getting onboard with your company. It’s likely that he/she will pay for themselves long before that, but you don’t want to make your hiring decision based upon the fact that everything will work out as planned – because it usually doesn’t.
As for technology, you’ll want to have a computer with enough memory to run the software programs and dialer you have for daily lead follow up. You’ll also need a great wireless headset with decent range so your ISA can get up and walk around as he/she is making calls.
You’re also going to want to have a CRM with integrated lead downloading, a dialer, texting ability and the functionality to run reports that track your ISAs efforts. If you don’t have that type of system in place, you at least need to create your own “Frankenstein” program that does all of that in one place to make sure your ISA is working as efficiently as possible each day.
All of this said, there is a way for you to bring on someone in an inside sales capacity without having all of these elements in place right away. As I talked about in my previous blog post How to get an ISA producing in under 24 hours, getting a Sales Development Representative (SDR) onboard is a great way to baby step your way into having a full-time ISA.
SDRs are less experienced, less skilled phone sales people who are able to uncover sales opportunities for you from leads you are currently generating. With an SDR, you have someone who can take the calls you are already getting and provide speed of response to their inquiries when you can’t because you’re busy.
The increase in the response rate will greatly improve the chance that your leads will work with you when they are ready to buy or sell a home.
As well, you can hire an SDR to do some circle prospecting for you to uncover now seller leads and nurtures for sellers who are planning to make a move in the future. An SDR is invaluable in this role for sure.
Ideally, you’ll want to have an ISA in place as soon as you can because your ISA is more highly skilled than an SDR and he/she can do the full job of uncovering opportunities and turning them into legitimate selling opportunities. Absent that, having an SDR in place can help tremendously with lead generation and conversion.