How to Recruit the Right Team Members

You have a great idea to make real estate better.

And, the passion to turn that idea into a business.

As long as you have the drive to be successful, everything else you need will just fall into place, right?

Unfortunately not. Simply having a great idea, passion, and drive doesn’t guarantee success in the hypercompetitive PropTech space.

What can set you apart from everyone else with a great idea and passion is the right team. The right team can complement your strengths and make up for your weaknesses. Plus, having a great team is crucial to secure VC funding. And, the right team can help you move faster than competitors – increasing your chances of success.

But, how do you recruit the right team?

That’s what we’ll cover in this post. We’ll give you the top tips and tricks to make recruiting the best team a breeze. Let’s get started with our first tip – always look to hire.

1. Always Look to Hire

This might seem like an odd first tip. How can always looking to hire help you recruit the right team members?

When you’re in dire need of something (like a new AC on a 95° day), you have fewer options. You don’t have time to look for the best AC or installer. And, you certainly don’t have time to compare pricing. Instead, you have to go with the first option available. While the first AC company you find may do a great job, they likely aren’t the best fit for your needs.

The same is true for hiring team members. When you desperately need a CFO, you don’t have months to look for the right candidate. You need the right CFO now. This urgency makes it hard to choose the right team member.

Instead of only looking when you need to hire, you should always scope out potential hires. You should build a portfolio of potential hires by position and when you might need to hire them. That way, you have a pool of potential candidates that are right for your team when you need to hire.

2. Think About the Next Position

Along with always looking to hire, you should also consider the next position when hiring.

It’s difficult to find and retain talent. As such, it’s easier to promote from within than hire someone new. But, if you only hire someone suited for the current role, you won’t have anyone to promote when you need the next role.

So, when hiring for a role, you should choose someone who also has the right qualities for the next role. When creating the job description, think about what skills a candidate needs for the next position.

If you’re unsure what skills a team member needs for the next position, you can look to other companies with that role. You should look at the qualities and experience employees had before moving into that role. Then, you can hire candidates with those qualities/experiences. That way, you know they have what it takes to succeed in the next role when needed.

3. Consider the Right Criteria

Hiring solely based on job-specific skills won’t help you recruit the right team members. Instead, you need to consider qualities that will make someone a good team member.

Someone with raw intelligence, drive, ambition, and a good work ethic will be extremely valuable to your team. Even if they don’t have every job-specific skill you’re looking for. Skills are teachable. Valuable qualities (like intelligence and drive) are not.

You should also make coachability one of your hiring criteria. Coachable hires are the most able to learn and grow into the next role. So, considering coachability can help you think of the next role when hiring.

To assess coachability, you should have an executive coach do a one-hour session with the candidate. Then, the executive coach can give you feedback on whether they’re coachable. That way, you hire team members who can provide value over the long term.

4. Use a PropTech Recruiting Firm

Having the right criteria to evaluate candidates is a start. But, you still need to find talent who checks all the boxes. Searching yourself can suck time you don’t have. After conducting many interviews, when you finally find the right candidate, you have to contact references and then hope your offer is competitive.

Instead of spending your valuable time searching, you can use a top PropTech recruiting firm like LMRE. With such a competitive market for talent, “selling” your company as a great place to work is part of a good recruiting firm’s role, something a static job posting can never replicate. Because these firms focus solely on PropTech talent, they often have a better understanding of the talent landscape. So, they can help you find better team members. And, they can advise you on what to offer to ensure you secure the best candidate.

While there is a fee, it’s often outweighed by the cost of delaying finding the right person. Without the right team, your company will move more slowly than competitors. Speed can be the difference between success and failure – which is many times more costly than the fee.

Plus, reputable PropTech recruiting firms will guarantee their placements for a time. And, they’ll find a replacement without charge if the initial candidate doesn’t work – saving you money.

5. Invest in Your Team

One last way you can recruit the right team members is by investing in your team.

Top potential hires don’t want to work at a company where they aren’t valued. Instead, they want to work at a company that values their growth and development. And, that has opportunities for advancement and increasing their skill.

To show candidates you value their development, you should include career development opportunities in compensation packages. And, make sure candidates know they’ll have access to these company-paid opportunities.

One great career development opportunity you should include in your compensation package is executive coaching. This coaching can help your team overcome common issues like overwhelm/time management, succeeding in a new role, collaboration and conflict resolution, and many more. And, executive coaching can help them prepare for promotions – a win for both you and your team members.

Wrapping It Up

Hiring the right team can be the difference between success and failure for your PropTech company. Using the 5 tips and tricks we’ve covered in this post can help you build an exceptional team – increasing your chances of success.

To hire the best team members, you need to have an executive coach. Go with the expert in PropTech coaching – PropTech Coaching Solutions.

Get started building the right team today with your free consultation.