Having good real estate agents join your team is vital, if your ultimate dream is to have a solid and relevant brokerage. To achieve this, you need to know how to get the best new agents. You will need to convince them that your brokerage is the best one for them.
Furthermore, you should know that not all brokers have the same style. Hence, each broker has a unique style that works for them. Below are top 3 tips to recruit and retain real estate agents for your brokerage.
Offer a Stable Income
The traditional way of operating brokerage is based on commission, but this can make it difficult for real estate agents to make financial plans. A study shows that 83% of commission-based brokers find it difficult to get new agents to join their brokerage. So, while you are planning to be a broker, you will need to decide the method that you will use to compensate your agents.
You can attract real estate agents to your brokerage by offering them benefits. Benefits such as healthcare are of immense importance. They can motivate real estate agents to join and to stay. Many brokers are beginning to realize the importance of satisfying their agents.
Be a Good Mentor
Being a real estate broker means that you are on a higher authority level than a real estate agent. Therefore, your agents will look up to you. Many of your agents will want to learn from you if they have plans to become brokers. Furthermore, ambitious agents who see you as a good mentor will choose to work for you. If they can learn from you, you will likely be able to retain them.
Above all, you will need to treat your agents well, to retain them over long periods. Consequently, other real estate agents might see how well you treat your agents and decide to join your brokerage.