"With over 100,000 brokerages in the US competing for the approx 2 million licensed real estate agents, retention is just as important as recruiting when it comes to the success of a brokerage's growth. The same is true for real estate team owners. In NAR's most recent study, agents have been at their current brokerage for an average of 5 years, while the average career of an agent is 10 years."
"Real estate agents, especially agents newer to the business, love having a full training calendar available to them. Create a robust training schedule with a combination of both in-person and virtual classes, with at least one class per week. Vary the topics as well, from introductory contracts classes designed for brand new agents to lead generation strategy sessions built for your top producers. This will keep all your agents engaged, regardless of their production level."
"Real estate agents love their tech. Having a top-of-the-line client relationship manager (CRM) and agent website available to your agents is important for retention, as it saves the agent the hassle and expense of purchasing their own software and designing their own website. It will also increase your agents' production by helping them keep track of their leads and keep in touch with their databases systematically."
High brokerage competition makes agent retention as crucial as recruiting for long-term growth. Average agent tenure at a brokerage is five years versus a ten-year career, creating frequent moves when needs go unmet. Provide a weekly, varied training calendar with in-person and virtual classes to engage agents at all experience levels and empower top agents to teach. Offer a top-tier CRM and agent websites to save agents expense, streamline lead management, and increase production. Prefer integrated CRM-and-site solutions that generate leads and simplify agents' workflow to improve satisfaction and retention.
Read at www.housingwire.com
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