Most brokerages believe they are growing: more agents, more hiring, more activity. But the data tells a different story. The reality is that many brokerage firms are quietly reducing productivity. Even while adding agents.
In fact, across the top 100 brands, agents who leave are 46% more productive than agents who are hired. This means there will be paper growth, but performance will decline.
In this episode of Real Estate Insiders Unfiltered, Sean Soderstrom, CEO of Courted, breaks down one of the most comprehensive reports on broker recruitment and retention and what it really reveals about the industry. If you want to understand what’s really going on behind the growth of a brokerage firm, this episode will change the way you look at your business.
highlights
This conversation details:
Why most brokerages are lowering the quality of their agents Why hiring talent alone won’t solve the problem The hidden effects of agent migration and attrition Why mid-level agents are the most valuable and most ignored What leaders should actually measure (and almost no one does)
Soderstrom also analyzes larger issues. The real estate industry is made up of an ever-changing population of agents, with nearly half of the industry joining, leaving, or switching agents each year. And if your strategy doesn’t take that into account, you’re not growing, you’re just being replaced.
If you’re a broker, team leader, or operator looking to build something sustainable, this episode is a must-listen.
Connect with Sean Soderstrom on LinkedIn.
Real Estate Insiders Unfiltered is currently available exclusively on Inman. Enjoy agent and team-focused content every Monday and leadership interviews every Wednesday. Listen on Apple or Spotify.
James Dwiggins is co-CEO of NextHome, Inc. and co-host of Real Estate Insiders Unfiltered.
Keith Robinson is co-CEO of NextHome, Inc. and co-host of Real Estate Insiders Unfiltered.
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