Its interesting to me how much the business of Real Estate has changed in the last twenty years. Not only because the internet has taken over “the world” making information so accessible that clients tell US as professionals what homes they want to see. They are searching for ONE home while we are researching many. I just read an article on the topic of “retention vs recruiting” which I found very interesting. I am literally writing this as an observer of the industry not as as an agent of any particular company. It seems many of the large brands seem to be “feeding” on the fervor of recruiting agents and getting “as many butts in the seats” as possible. As we all know most of the “butts” are not seasoned agents that will like be the ones “sued” in this sue crazy world. For success you need “the right butts”.
Doesn’t a broker have an obligation to nurture their existing crop of agents? Doe the new agents have a clue as to areas, locations, schools, up and coming zip codes, how to work with a client in general?? Of course the newer agents look at the high point areas and think “BIG commission” however do clients really want to turn over their most important asset to someone who is “filling a seat”? This is a very expensive business with broker fees, Error and Omissions Insurance, Association fees, Lock box and fees, and much more. Of course new agents should have a place to work but there are some companies that train and most that don’t. When there are “leads (hate that word) given out to newer agents it’s generally because their split is low and the company benefits. However a seasoned agent will make sure the job is done correctly. Just saying!
It’s a strange new world and the appeal for agents to work in smaller offices I believe will grow in the future. The very best thing in an office is the morale of the agents which in turn translates into more business. No need to say more.
