Lauren Johnson

USA Data: 10% of real estate agents changed brokerages in the last 12 months. Mike DelPrete insightful article sheds light on the significant movement within the real estate industry, with over 144,000 agents switching brokerages between June 2023 and June 2024. The data underscores the critical role of recruitment and retention strategies for brokerages, especially as lower producers show a higher tendency to switch. Highlights: - High Churn Rate: 10% of agents transitioned to new brokerages in the past year. - Non-Producers: Nearly half of agents sold zero houses in the last 12 months. - Active Agents: 14% of agents actively changed brokerages. - Top Producers: Even agents with $50 million or more in sales had a churn rate exceeding 10%. - Agent Tenure: Newer agents are more likely to switch compared to those with over 12 years of experience. - Office Size Impact: Larger offices (500+ agents) experience a 33% higher churn rate. Real Estate Brokerages need to: - Focus on Retention: Prioritize strategies to retain high-producing and newer agents. - Targeted Recruitment: Develop tailored plans for agents prone to switching. - Support Systems: Implement robust support and career development initiatives for newer agents. - Positive Culture: Cultivate a welcoming office environment to reduce turnover in larger offices. I wonder what the numbers would be in Asia. Markets like Malaysia, Thailand, Vietnam, and Philippines have huge recruitment numbers. I personally know agents who have jumped agencies more than four times within a two-year timeframe. The grass is always greener.....(well, you know where) The point is - 5% of the agents still produce more than 75% of the transactions. Agencies still promote this business as an " earn fast, success overnight" industry. However, the numbers show a different reality. I guess things will only accelerate in this industry, which has more tech, models, methods, and AI. We have more shiny objects to show potential agents. Let the hunger (recruitment) games begin!

8

2 Comments

Want the inside scoop on NYC's luxury market from our Advisor, Christian Rogers? 💡 He shares wisdom in Mann Report's 'Ask the Expert' segment. Full interview on pages 62-63. 🔗 https://bit.ly/45l3nI2 #Elegran #ForbesGlobalProperties #ElegranAdvisor #NYC #NYCLuxury #NYCRealEstate #RealEstateBroker #Manhattan #MannReport

9

2 Comments

The retail landscape is continuously changing, particularly in 2024, with evolving trends in dining and shopping. https://lnkd.in/d3uDXEjv #CRE #CBCWorldWide #cbcrgv

1

No real estate business has a built-in brand voice — it’s something you have to craft. You don’t have to start from scratch, though, as Agent Image has a guide to defining and refining your brand voice. https://lnkd.in/dtKKRmac #agentimage #realestatesuccess #marketingadvice #brandingexpert

1

🏡 Discover the latest trends in luxury homes and the high-end amenities rich buyers crave. Dive into what makes these properties so desirable. ✨ Learn more here: https://ow.ly/bXYY50Ss22A #LuxuryRealEstate #HomeTrends #RealEstateInvesting

2

It is through stellar testimonials from past clients that prospective clients can gain valuable insight into how well a business or real estate agent can navigate the complex process and deliver exceptional results. https://lnkd.in/eBs7sG9q

1

Discover the Benefits of Real Estate Outsourcing Trends & How Real Estate Companies are Embracing it as a Vital Strategy! 🌟 Learn how you can streamline operations, save costs, and focus on growth with ShoreAgents. Click to view more: [https://lnkd.in/gBB5Wn9C] and don’t forget to share, like, and comment! 🚀 #RealEstateVirtualAssistant #RealEstateOutsourcing #RealEstateTrends #Outsourcing #VirtualAssistant

1

Join us as we explore the importance of moving beyond generic, template-based approaches in real estate marketing. Rather than using standard presentations that may not resonate, agents are encouraged to focus on understanding their client's unique needs. By aligning presentations and marketing strategies with client priorities, agents can better demonstrate value, creating a more personalized and impactful experience. Watch here: https://lnkd.in/gq_scwmw

2

Real estate is changing fast. Some luxury agents will fall behind; 𝐨𝐭𝐡𝐞𝐫𝐬 𝐰𝐢𝐥𝐥 𝐥𝐞𝐚𝐝 𝐭𝐡𝐞 𝐰𝐚𝐲. Lawrence Yun, Chief Economist at the National Association of Realtors, latest insights reveal a market shift is coming—and it’s time to get prepared. Here’s what we know: ◾️𝐄𝐪𝐮𝐢𝐭𝐲 𝐢𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐫𝐢𝐬𝐞. Homeowner equity is at a record high. Clients who invested years ago are seeing their wealth soar. The opportunity? Position yourself as the agent who understands the power of equity. ◾️𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞 𝐝𝐲𝐧𝐚𝐦𝐢𝐜𝐬 𝐚𝐫𝐞 𝐬𝐡𝐢𝐟𝐭𝐢𝐧𝐠. While we may not see the return of the 4% days, slight rate cuts are on the horizon. This is good news for those waiting on the sidelines—and for agents ready to guide them. ◾️𝐇𝐨𝐦𝐞 𝐬𝐚𝐥𝐞𝐬 𝐚𝐫𝐞 𝐬𝐞𝐭 𝐭𝐨 𝐜𝐥𝐢𝐦𝐛. Yun forecasts a 10% boost in home sales by 2025. The agents who align themselves now will be ready to seize that wave of demand. The real question is—𝐚𝐫𝐞 𝐲𝐨𝐮 𝐩𝐫𝐞𝐩𝐚𝐫𝐞𝐝 𝐭𝐨 𝐭𝐚𝐤𝐞 𝐭𝐡𝐞 𝐥𝐞𝐚𝐝? Adverly’s strategies are designed to help luxury real estate professionals not only keep pace but get ahead. We give you the tools to turn this shifting landscape into your strongest advantage. Ready to make your mark? Visit our website in the comments. #RealEstateInvestment #LuxuryHomes #MillionDollarListing #RealEstateMarketing

9

1 Comment

Stay ahead in the evolving rental market by understanding what tenants really need! Learn how to keep your properties in demand here. To continue reading article, click here: https://lnkd.in/gacCHTKR #TenantSatisfaction #realestatetrends #losangelespropertymanagement

2

🏡 Why the Luxury Home Market is Thriving 🌟 With high interest rates and limited starter homes, many buyers are locked out of the market. It’s no wonder luxury real estate is booming! 💰 High-net-worth buyers can pay cash and avoid the mortgage game, making luxury homes more appealing. 🏠✨ #LuxuryRealEstate #MarketTrends #prospectsplus #realtorsofinstagram https://lnkd.in/ek5gBJMm

3

Company leaders hosted a livestream to discuss NAR settlement outcomes, including buyer agreements and how to talk to sellers about buy-side compensation. eXp Realty #realestatenews #realestate #exprealty #realestateagents #agenttips

6

🎯 Exciting events await you at The Locker Room! 🗓️ ‌ 👊Agent Group Coaching - APR. 23RD Join us as we delve into FCC Lead Generation Change. Discover What It Means For Real Estate Agents And How To Succeed In The Changing World Of Lead Generating. ‌ 🔥Hot Topic in Real Estate Mastermind - APR. 24TH Next Hot Topic Mastermind Session! Discover The Essential Strategies For Navigating The Complex Landscape Of Housing Regulations And Safeguarding Your Ventures. ‌ Drop us a message for a sneak peek! 📩 ‌ #realestate #realestateagent #realestatebroker #thisweek #weeklycoaching #realestatetips #realestatevents #business #entrepreneur #groupcoaching #businessowner #education #partnership

1