Keeping up with iBuying services

With instant-offer home listing services like Opendoor and Redfin part of the mix, you may be considering new ways to integrate technology and ala carte services in your business. Although not every seller will want to use this type of tool, there are sellers who opt for the instantaneous, so it’s best you’re aware of this new trend. Here’s what you need to know about iBuying services.

If you’re part of the TL; DR crowd, then start your free seven-day trial of AgentEDU today and watch our “Representing Sellers” track.

 

Getting on board

You may have seen signs at busy intersections that say, “Sell your house for cash NOW” or commercials about companies that will buy a sellers’ home in any condition. These are tactics that have been around for many years, but more recently companies are utilizing new technologies to leverage them. One notable real estate agency that has tapped into this trend is Austin, Texas-based Keller Williams Realty. Although they are currently launching the “Keller Offers” service only within the Dallas-Fort Worth market, they plan to expand the program to nearly eight other major markets by the end of 2019.

While officials at Keller Williams say the share of sellers who use the iBuyer method is roughly 10 percent of all sellers, it serves as a vital addition for agents to offer this unique service to their sellers.

 

Standing out

Some services, like Opendoor, utilize their own home valuation analytics software in which an instant offer is made based off the estimation. The Keller Williams service goes a step further, offering an agent to both act as a trusted guide through the process and take into account the characteristics of a house that an analytic home valuation software may miss. This means that not only are agents providing a helping hand in a process that can be confusing for sellers, but also personal touch is key in not only standing out but also creating an agent-seller relationship that may turn into more referrals.

Sellers that use these instant-offers services are often those with an urgent need to move, perhaps prompted by a recent job relocation. Another major group of users of these services are those looking to flip a property.

The technology that comes with iBuyer services often utilizes algorithms and local market data as indicators for price points. Although these programs are becoming more prevalent, the role of an agent is still ever-present. Most sellers will need an experts’ advice in the selling process on what is truly a good offer and what is subpar.

In any situation that your seller may be in, having these additional services as a part of your business operations is key in giving your clients a variety of choices. Moreover, the use of more technology is a necessary step in being more tech-savvy and able to open more communication channels with potential clients. To learn more on better serving your sellers, start your seven-day free trial of AgentEDU and gain access to our “Representing Sellers” course.

 

 

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Are Open Houses Still King?

Open houses can act as a door opener for generating new leads. It gives the opportunity to showcase the property and network closely with potential buyers, among other benefits. Although some argue that open houses are a waste of time, only you can make that decision. Here’s a breakdown on whether an open house is essential for your listing and your business. If you’re part of the TL; DR crowd then start your free seven-day trial of AgentEDU today and watch the full course, “Open Houses.”

 

On the upside

Positive aspects of open houses are that, nationwide, homes that had an open house sold for more than $9,000 more and spent fewer days on the market than homes that had no open house. This comes from a recent study of open houses in major metro areas by Redfin. For example, homes for sale in Miami that featured an open house within the first week of listing sold 11 days sooner than those without an open house. One caveat to keep in mind is that these successes in open houses may stem more from the appeal of the home itself and the marketing associated with it rather than the sole event.

 

Not so fast

Still, the data might not tell the whole story. First of all, it’s a small dataset: In 2018, only 24 percent of listings nationally featured an open house within the first week. Also, in some markets open houses are associated with more days on the market rather than less. Examples of such markets include New Orleans and Nashville, where homes featuring an open house spend eight more days on the market. Although this does not apply to all areas, it is something to watch if you’re selling in those areas and are thinking of conducting open houses. But in the end, days on market is more a factor of the appeal of the property, state of the local market and the price of the home.

 

Do’s and Don’ts

Orchestrating an open houses takes various steps, all with an ultimate goal of finding a buyer for the listing. However, secondary purposes for the open house may arise that get in the way of the original purpose. Some agents host open houses to market themselves and make the event more of a social one, where the focus is taken away from the house and put onto the agent. That is a path to avoid; focusing on the aspects of the house and giving valuable information to these prospects will make you come off as a trustworthy and knowledgeable agent.

According to the study from Redfin, timing is key. Try to conduct an open house within the first week of listing. The first week a home is listed is crucial, as you can capitalize on the freshness or “just listed” aspect of the property.

In all, open houses can be a useful tool when done correctly. Whether or not to conduct an open house is a call that you and the seller make together, and in that conversation, mentioning both the benefits and possible drawbacks is key. For more best practices when it comes to open houses, check out our AgentEDU course “Open Houses.” You can start with a seven-day free trial and gain access to the full “Open Houses” course today.

 

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5 must-haves for high-end buyers

With more home gadgets being unveiled each year, there’s are now an overwhelming number of features that a home can be equipped with. This is especially true with luxury properties, as high-end buyers have more specific wants than a typical homebuyer. Here are the top five things that are on luxury buyers’ must-have list.

If you’re part of the TL; DR crowd, start your free seven-day trial of AgentEDU today and watch the full course titled, “Representing Buyers.”

 

Latest tech

With technology becoming more accessible and advanced, it has also made its way from our pockets and into our homes. Systems like Amazon Alexa or Google Home serve as a voice command assistant. Another big trend has been digital, and even mobile, smart-home security systems such as the Ring Video Doorbell. These smart security systems can even be activated remotely from ones’ smartphone, creating not only simplicity but also a sense of security for homeowners.

 

Privacy 

Along with added in-home security, high-end buyers are not afraid to pay more for their own privacy. This gives you an idea of how to set up home searches for such clients. Privacy features that these buyers are looking for include gated communities, ample security features, tall gates, barriers and privacy hedgerows around the property.

 

Modern kitchens

One of the main hubs in any home is the kitchen, so these areas must be up to par with buyers’ wants. High-end buyers want their kitchens outfitted with large white cabinets along with white quartz countertops. Stainless steel appliances remain king, along with a sizable kitchen island. Another trend in kitchens is dark hardwood floors and brighter LED lighting.

 

Designer names

There’s been a trend in residential towers, and that is the association of residential buildings with a major luxury brand. One example is the Aston Martin Residences tower in Miami, Florida. Amenities here include two cinemas, an art gallery, a virtual golf room and an exclusive yacht marina. These buyers aren’t afraid to spend more for luxury residences or their amenities, which also gives you more options for new construction.

 

Fitness and health

Luxury amenities don’t have to be all about the glitz and glamour. Many buyers have fitness goals or overall health concerns, which is why luxury home builders have taken note and incorporated amenities to check that box. This includes spaces such as yoga studios, spa lounges and even boxing rooms.

Almost every homebuyer has a checklist in mind when looking for a new home, and luxury buyers are no different. However, their checklist may vary a bit from the rest. These are five major points of interest for them, and they’re not afraid to shell out more money to get them. With that in mind, it’s key that you customize your home search process to align with the desires of higher-end buyers.

Learn more about how to better serve luxury home buyers with a seven-day free trial of AgentEDU and check out the “Representing Buyers” course.

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How to correctly use Facebook as a marketing tool

A marketing plan is key in both generating more leads as well as increasing exposure for your business. Given that the technology landscape is ever-changing, it also comes with its fair share of scrutiny and controversy at times. Here are a few best practices in utilizing Facebook as a marketing tool.

If you’re part of the TL; DR crowd then start your free seven-day trial of AgentEDU today and watch our dedicated advertising track.

To mention Facebook is to also mention some of its downfalls. More recently in March, Facebook was charged with violating the Fair Housing Act by the U.S. Department of Housing and Urban Development. In the suit, Facebook is accused of restricting who can view a housing-related ad, since Facebook allows users to customize ad campaigns to target certain people and locations.

 

Teachable moment

The dispute with HUD and Facebook has created an opportunity for agents to adjust their marketing plans and educate their clients on the rules and regulations that come with marketing a listing. This means that when clients are asking for more social media engagement and bold ideas to get their property to sell, mentioning fair housing is key to being on the same page and clearing any confusion. This also calls for agents to check their marketing plans; if you use a third-party vendor it’s best to follow up on their alignment with the Fair Housing Act.

 

Make it personal

It’s more than likely you’re active on some social media platform. Whether that’s Facebook, LinkedIn, Twitter or YouTube, you have the opportunity to reach out and create a brand image. With that in mind, creating content for your business profile doesn’t need to be pure real estate all the time. Adding in a personal touch — such as posting about what you do on your free time, with family, or on nights out with co-workers or fellow agents — creates more connectivity with your clients. It allows prospects to see you as a person, rather than just a business owner.

 

Engage

Another key component of any marketing plan is to be engaging with your clients through social media channels. Along with making it personal, this is another great way to connect with your followers and clients. Allocate some time, or even hire an intern to assist you, to write back to people who comment on your posts and take time to comment and like their posts as well.

 

Being a dependable source

With social media at everyone’s disposal, the issue of misleading information and confusion is also a problem. As an agent, building trust is an area you should always be working on, and this also means making Facebook a part of those efforts. Creating content that counters false information is a great way to become a dependable source. This can go hand-in-hand with educating your sellers in regards to the Fair Housing Act, but also it can be incorporated in marketing, such as showcasing your recent sales figures or the current state of the market.

 

In all, Facebook is a fundamental platform and needs to be a part of any marketing strategy you have. Incorporating Facebook in your business activities allows for more growth and exposure. However, as explained here, there are rules and regulations to follow and be aware of.

For more tips on how to create effective marketing, start your seven-day free trial of AgentEDU and gain access to the fundamental advertising track.

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5 Ways to Help Buyers Understand Credit Scores

The homebuying process can be an overwhelming ride for buyers, particularly first-timers. Add in the aspect of understanding credit scores and your clients can become even more perplexed. While most homebuyers will require a loan, a fundamental step in acquiring that loan will be an adequate credit score.

This blog breaks down the five ways you can make the credit score topic more understandable to your clients. If you’re part of the TL;DR crowd then start your free seven-day trial of AgentEDU today and watch the full course, “Representing buyers.”

 

 

Understand your buyers

One of the crucial first steps is to create dialogue with your clients on their understanding of credit. Start this off by asking some general questions, as it’ll set the stage for clearing any confusion. Do they have any student loan debt? Do they know what their credit score is? Have they owned a property before? Knowing where your clients are financially and their knowledge level will help you to tailor the information you give them in a more relevant manner during the buying process.

 

Avoid technical language

In your daily life as an agent you may use terminology that the average non-agent individual may have no clue on. Using terms like LLPAs, PITI and loan-to-value won’t impress your audience, it’ll just add complexity. Financial jargon may be useful when it comes down to understanding the paperwork, but creating explanations that your clients will understand is key in keeping focus.

 

Explain the typical timeline

Walk buyers through the entire process, from the purchase and credit line decisions that could impact their credit score to prequalification and preapproval to the process of applying for a mortgage. Many don’t understand the process after they’re approved but before they close. This time period is critical in terms of keeping the financial of the deal intact, so don’t end the timeline prematurely.

 

Utilize visual aids

Many people are visual learners and they understand topics better if they can see what they’re trying to comprehend for the first time. Touch base with lenders and mortgage brokers that you frequently work with and ask if they have infographics or charts that’ll help breakdown the complex loan process visually.

The process of homebuying has many complex stages. From perfecting the home search for your clients to walking them through the mortgage process, credit scores are another area that can cause confusion. Utilizing the five ways explained in this blog can create a simpler and better understanding of credit scores. To learn more about guiding your clients through these processes, begin your seven-day free trial of AgentEDU and gain access to our fundamental “Representing Buyers” video course.

 

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5 Things Your Client Can Do to Help Sell Their Home

Preparing a home for sale for top dollar can take more time and effort than your clients may realize. This is where you need to engage, and possibly even get in front of potential clients who may not be ready to sell now but possibly will be soon. No matter what state of mind your clients may be in, it’s never a bad idea to keep a list of important pre-sale tasks to share for when it comes time to sell. Here’s a list of five things your clients can do to further prepare their property for selling.

If you’re part of the TL;DR crowd then start your free seven-day trial of AgentEDU today and watch the full course, “Representing Sellers.”

 

Purge and donate

Moving can be an expensive task; there’s no reason to pay to pack and move items that have sat unused and will remain unused in a new home. Although people may have items they keep for sentimental value, freeing up space is a great start toward an eventual move. Tell your clients to start by going through closets and sorting unwanted items into donate piles. Closet space is essential in selling a home so freeing up valuable storage areas contributes a positive selling point. Another positive to remind you sellers of in this conversation is the donation aspect. There are many deserving charities that’ll benefit from clothing and household items they no longer use. And don’t forget to mention the possible tax deduction.

 

Deep clean

Now that there’s more space in the home, it’s time to convince sellers to roll up their sleeves and get to work. There are areas of the home that typically never get a good scrub unless you dedicate time to it or hire professional cleaners. Remind clients to think about spaces such as  under beds, inside appliances, fan blades, blinds, and windowsills. Remind them to ensure their showerheads and tubs are free of calcium and rust stains. This is also a great time to get the HV/AC unit serviced and cleaned.

 

Home inspection

It’s probably been a while since the property’s last home inspection, so you may want to suggest a prelisting inspection. This’ll allow any known issues to be dealt with sooner rather than later. This will not only save time when their home is officially on the market, but also can put both the sellers’ and buyers’ minds at ease while building trust and transparency between the two parties.

 

Repairs

There may be some repairs that the home inspection report suggests undertaking. If there are larger issues that need repairing, such as electrical work or plumbing issues, hiring a professional is the way to go. Smaller fixes like cabinet doors and knobs that need tightening or fixing broken door locks can be done by the homeowner if they’re comfortable with the work. But if there’s a long to-do list, it’s best to hire a handyman.

 

Updates

Often there’s a to-do list that sellers have been fidgeting with since the initial move-in, but never got accomplished. Maybe it’s taking out carpet, removing wallpaper, adding a backsplash to the kitchen or getting cabinets replaced. Go over this list and help your clients decide what, if anything, should be done before listing the property.

Freshening up a home is a key low-impact way to get the property market-ready. Simple tasks like clearing out closet space or replacing kitchen cabinet handles are small touches than can make major impacts. These are mostly inexpensive ways to prepare a property for the market, but also smart ways potential sellers can get a head start on the selling process, even if they don’t plan on putting their home on the market for several months.

To learn more about the ways you can prepare a property for market and better serve your sellers, start your free seven-day free trial of AgentEDU and watch our “Representing Sellers” course for vital information.

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How to Deliver Better Service to Gen Z Buyers

Agents need to better understand the particular needs and aspirations that buyers have when it comes to homebuying in order for the process to be smooth. That may be even more true when you’re dealing with younger clients, specifically those in the Gen Z demographic (born mid-1990s to mid-2000s).

This blog entry lays out the homebuying concerns that Gen Zs have, as well as how they stack up against other age demographics like Generation X. We’ll also provide tips on how to better serve this age group effectively. If you’re part of the TL; DR crowd then start your free seven-day trial of AgentEDU today and watch our dedicated track, “Representing Buyers.”

 

Gen Z’s homebuying obstacles

In a recent survey by PropertyShark, 83 percent of Gen Z respondents said they see themselves entering the real estate market within the next five years. This comes on the heels of approximately 100,000 Gen Z homebuyers. That figure is only posed to increase; however, it doesn’t come without some potential roadblocks. A notable takeaway from the survey is that Gen Z sees student debt as their biggest obstacle, with almost a third (32 percent) stating it’s their biggest obstacle to buying a home. This is a significant contrast to the only 7 percent of Gen Xers who reported the same issue.

The second largest obstacle for Gen Zs is coming up with a down payment for their home. This is an area that many age demographics agree is a roadblock, as 31 percent of Gen Xers and 35 percent of millennials reported the same. Interestingly, unlike Gen Xers and millennials, Gen Z does not see increasing home prices as a significant obstacle in buying a home. While 14 percent of Gen Xers and 13 percent of millennials see this as a potential roadblock, only 5 percent of Gen Z reported the same.

Another brighter side for Gen Z is that only 1.2 percent of Gen Z homeowners are more than 60 days late on mortgage payments. This compares to the 1.6 percent of baby boomers and millennials and 2.3 percent of Gen Xers.

 

Gen Z aspire to different things

Gen Zs have a different aspirational lifestyle compared to millennials. One area of difference is the amount of space they want; where Gen Z wants their homes to be 2,081 square feet on average, that’s 200 feet more than millennials.

Other areas in a home search that Gen Z value are: location, parking spaces, lifestyle amenities, smart appliances and smart homes. The report went onto state, “Considering the youth of Gen Z, the importance of smart systems is likely to increase as more of their cohort enters the housing market.”

One area that may spell bad news for smaller, rural markets, is the urban lifestyle that Gen Z aspires to. In a similar response to millennials, 30 percent of Gen Z say they want to live in large metro areas whereas 60 percent want to live in suburban areas, leaving only 10 percent for rural markets. Living at home is still what’s most practical for many millennials and Gen Zers;  they’re doing so while also saving money to afford their own home. The report found that 40 percent of Gen Z respondents said the biggest reason they stay home is to save up money.

In all, Gen Z is considered the most optimistic about owning a home while also getting the lifestyle they want. Although they’re coming into the homebuying process with extra baggage, and specific desires, as an agent you can adapt to every buyer’s needs. Moreover, communication is key in not only establishing common ground with your Gen Z buyer but also helping them keeping their options open with flexibility.

Understanding their obstacles and formatting your services to better assist a Gen Z buyer can make the process much smoother, which can also lead to future contacts via recommendation. To learn more about better representing your buyers and best practices for any situation, begin your seven-day free trial of AgentEDU and gain access to our essential, “Representing Buyers” track.

 

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4 Ways an Assistant Markets a Listing

Attracting qualified buyers to purchase properties is one of the most important skills that sellers expect from their agents. An assistant can be very useful in helping to reach the right customers. In this blog you’ll learn more about 4 ways an assistant can help marketing listings to sell a home.

If you’re one of those TL:DR types, then start your 7-day free trial of AgentEDU today and watch the full course, ‘An Assistant’s Role in Marketing Real Estate Listings’.

 

Traditional advertising

Although all this may seem like a lot for an assistant to handle, there is still much to do in traditional advertising. In many cases, traditional media is still very effective for the real estate business. Your agent may be getting great results from direct mail postcards and advertising in print and online. Using postcards to let neighbors know what an agent just listed or just sold works because it offers market information, plus exposure for listings and the agent. Make sure the photos look great, the message and the call to action are clear and that the brand is properly reflected. Advertising in print is effective in certain markets, not in others. Online advertising allows potential clients to click through the ad to the agent’s website or email. And don’t forget to look into marketing opportunities on syndication sites like Zillow. These can help with lead generation. Ultimately, advertising works best when you know who your target market is and how to best reach them.

 

Social media

With social media’s important role in marketing, most real estate agents maintain at least one social media account for their business. Facebook, Twitter, Pinterest, Instagram and Snapchat are among the most popular, but additional networks may emerge and you’ll need to be ready. The idea is to keep your company relevant and useful. If you can find a specific angle that can bolster your brand, all the better. Create an editorial calendar going three months out so that you can map out a strategy and use any analytics that are available to optimize and refine your message. Social media holds a varying level of importance, depending on your target market, but no agent should ever appear to be technologically challenged. Be mindful of keeping the agents you work for up to date.

 

Surveys, testimonials and reviews

And there is much more marketing that you can help with as an assistant. A completed transaction is not the end of the relationship. There is still marketing work to do! Start with surveys, testimonials and reviews. It’s a good idea to send a survey to clients after a transaction is finished to let them share the pros and cons of their experience with the agent. This information is useful to agents so they can make improvements to their systems and services. It’s also a low-pressure tactic used to ask for a testimonial and an online review. There are third party survey services that are simple and inexpensive to put into practice. This should be part of your operating procedure at the close of every sale. And getting testimonials and reviews on sites like Yelp can really help an agent get new clients and stand out from the competition.

 

Participate in the neighborhood

Lastly, one of the best ways to market the business is by simply being top of mind when it comes to real estate in your neighborhood. The simplest and most effective way to do this is by actually spending time participating in the neighborhood. Have a presence at festivals and town meetings. Consider volunteering at the local school. Suggest that your agent sponsor neighborhood events, or simply make sure to get a table at them. You may want to keep track of event opportunities for your agent and maybe even attend yourself. Seek out opportunities to put your agent in front of the right target market.

No one likes someone who only talks business, but there’s nothing wrong with being helpful and relevant. If you keep your ears open and participate with people, you will find organic ways to help market the company that makes businesses and residents truly feel like the company is part of the neighborhood.

All in all, it’s important to remember that selling homes is just one part of your business. It’s just as imperative to ensure that your business has a future flow of potential customers and that your brand and reputation is being managed in the best way for your company. To learn more about an assistant’s role working with an agent, start your free 7-day trial of AgentEDU today explore our 8-course track, dedicated entirely to training assistants in the unique needs and demands of the real estate industry.

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Do You Know Who Your Buyers are and What Challenges They Face?

While honing your craft as a real estate agent is important, it’s also vital that you understand the demographics that are driving today’s market. This blog will explain who is dominating the current housing market, offering tips on how to be the best agent for any situation. If you’re part of the TL; DR crowd start your free seven-day trial of AgentEDU today and watch the full course, “Representing Buyers.”

 

Who’s buying

The National Association of Realtors’ 2018 Profile of Home Buyers and Sellers found that married couples continue to make up the majority of buyers at roughly 63 percent. The next largest chunk are single females, making up 18 percent of the market. This is on par with their 2017 report. Some trends shifted from 2017, however. For example, single male buyers made some traction by going up from 7 percent to 8 percent of all buyers. Another slight shift was that first-time home buyers fell from 34 percent to 33 percent in this latest report.

When it comes to buying the actual home, single males tend to spend more on homes than single females. Unmarried men clocked in with a median home sale price of $215,000, while single women buyers had a median home sale price of $189,000.

 

Challenges for buyers

NAR Chief Economist Lawrence Yun stated, “With the lower end of the housing market – smaller, moderately priced homes – seeing the worst of the inventory shortage, first-time home buyers who want to enter the market are having difficulty finding a home they can afford,” adding that this inventory shortage of creates a challenge for first-time home buyers. “Homes were selling in a median of three weeks and multiple offers were a common occurrence, further pushing up home prices.”

Another challenge for many buyers is significant student loan debt. Thirteen percent of buyers said they’re having difficulty saving for a down payment, with half of those respondents stating student loans as the primary reason. First-time homebuyers are specifically struggling with this issue, as 40 percent have some student loan debt with median debt totaling $30,000. Student loans hit both younger homebuyers and singles harder. Younger buyers are either freshly out of school or struggling to prioritize student loans with saving for a down payment. Single people don’t have the support that married couples have as they’re working to pay off their student loans.

 

Trending upside

Overall, the outlook is trending positive, according to Yun: “Existing home sales data shows inventory has been rising slowly on a year-over-year basis in recent months, which may encourage more would-be buyers who were previously convinced they could not find a home to enter the market.”

Such improvements may even be showing up in the numbers already. The 2018 NAR report found buyers put a median 13 percent down on their home purchases, up from 10 percent last year and the highest amount since 2005.

Knowing the relationship and financial status of your buyer is key in setting up the home search process for them. To learn more about how to appropriately and efficiently represent your buyers, start your seven-day free trial of AgentEDU and gain access to the “Representing Buyers” course.

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How to Recruit the Best Agents for Your Firm

Having a real estate brokerage that is both efficient and successful is essential in improving sales and generating leads. Recruiting top talent is one of the most helpful ways to both delegate work load in order to free up your own time, but also to build up your company’s reputation.

This blog will explain the best practices to take in recruiting agents to your firm. You’ll see report findings from Engel & Völkers on what agents like best about their brokerages as well as tips on how to make appropriate offers to your new talent. If you’re part of the TL; DR crowd start your free seven-day trial of AgentEDU today and watch the full course, “Team Building.”

 

Mostly satisfied

In a survey done by Engel & Völkers Americas, agents expressed overall satisfaction in their current state of employment. The company’s State of Real Estate Recruiting report found that around 96 percent of agents are satisfied, with 94 percent stating that they would remain at their brokerage for another year. Furthermore, 90 percent of agents said they would recommend their brokerage to other agents.
However, even with satisfaction rates in the nineties, 35 percent of agents stated that they consider leaving their brokerage at least once a year. Some of the top reasons for leaving include searches for better commission splits, increased lead generation opportunities and greater benefits. Indeed, 38 percent of agents say they would leave their current brokerage for better commission splits. These are agents who are looking for a way out, and could possibly make a great addition to your own firm.

 

How to appeal

One of the first things a managing broker should do to recruit top talent is to conduct research on agents they want to target. This is key to attracting them as well as in sorting out any agents who do not fit your needs or may be underperforming. The Engel & Völkers report suggests brokers “thoroughly research these agents, and certainly before meeting with them have an understanding of their production level, style of doing business and reputation in the industry.”

Kelly Stephens, vice president and managing broker at Engel & Völkers Atlanta North Fulton and Engel & Völkers Buckhead Atlanta, found that the two main things agents are looking for are support and leads. Location also matters for agents, with 72 percent stating they prefer to work in a brokerage with a physical office space. The report also notes that it’s important for managing brokers to highlight some of the other benefits, aside from splits, that agents will receive or lose by switching.

Being both transparent and upfront about your offerings is key in appealing to the best agents for your team. The way that you personalize your recruiting efforts to match the profile of the agent you hope to attract is key. The report goes on to state, “Recruiting top talent is not something that will happen without a brokerage’s concerted effort into reaching prospects with the right message that will resonate.” The way that you reach out to these prospective agents will show them that you are doing in-depth research in the effort.

To learn more about building an efficient and successful team of real estate agents and other fundamental skills on running your business, start your seven-day free trial of AgentEDU and gain access to our “Team Building” course.

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