Your brokerage’s success depends on the people who bring in business—your agents. With the right strategies in place, you can find and keep the right talent, which helps you close more deals and strengthen your entire brokerage’s brand in the long run.
But keeping the right agents is harder than it sounds. According to recent data from Mike Delprete, in the last 12 months, 144,000 agents changed brokerages.
As a broker, how do you tap into your agents’ priorities and productivity to keep them on board and keep your business profitable?
1. Know what they want to see from you.
When you first made the move to become a broker, you likely discovered a new set of goals. You may have wanted to work for yourself, earn more money and establish a unique identity. And whether you’ve been in the business for one year or 20, meeting those goals is a balancing act—one where you deal with shifting priorities and business costs day by day.
An agent’s priorities stay the same. They want to make more money, close more deals and attract more clients—and your value to them is in how you help them do that.
Show agents:
- You can equip them with resources and tools to help them attract more attention to their work, like social media advertising and digital marketing
- You understand how quickly they have to work and can prepare them for faster closings
- You know how quickly industry trends can shift and can give them insights they won’t find somewhere else
2. Put together a training plan.
Knowledge is power, and having a plan in place to onboard and properly train the agents in your brokerage is the ace up your sleeve. When they know and understand the processes and software available to them, they can work more confidently—making it easier for them to showcase their value to clients and contribute to your bottom line.
After all, even the most talented agent can fall behind without the right knowledge and expertise in their corner.
Show agents:
- You understand what’s happening in the market and can help them gain deeper insights too
- You can guide them through industry changes with confidence that shows to their clients
- You can help them refine their value pitches to stand out based on what clients are looking for as changes happen
3. Use MLS data to inform timely decisions.
The data you access through your MLS is your best-kept secret for recruiting and retaining talent. Through this data, you can find local agents based on a specific set of criteria—so you can look for recent sales in a specific area, by property type or time frame, even the number of units they’ve sold and how much they sell for.
You can also use this information to see how your brokerage stacks up, and where your differentiation may be for both clients and agents alike.
Show agents:
- Your brokerage stands out from others in the area
- You can help them identify their own strengths in the market and advertise those to clients
- You can equip them to inform their own buyers and sellers on market trends and manage expectations for higher satisfaction
How do you make it all happen?
BrokerMetrics by Lone Wolf turns MLS data into real-time statistics, so you can make informed decisions at the right moments. With visibility into agent productivity, competitive intelligence and market data, you can spend less time pulling reports and more time pulling higher profits.
