What Agents REALLY Want from a Brokerage
What do agents really want from a brokerage?
Is it the highest split with the lowest fees?
No. That can’t be it.
Keller Williams is the largest company by agent count, yet it doesn’t operate a 100% commission model.
So, then what about training and coaching?
Ask brokers who have training and coaching and they’ll tell you few of their agents take full advantage of the programs.
Well, how about leads?
By now, I’m sure you know the answer to this one is no as well.
Most agents prefer to work by referral and don’t have the systems in place to nurture and convert leads.
Sure, agents might say they want leads, training, coaching, and the highest split, but what they really want goes much deeper.
What agents really want from a brokerage are confidence, appreciation, and fairness.
Just about everything agents say they want is linked to confidence.
They want to feel confident they’ll hit their financial goals. Confident they’ll do a good job for their clients. Confident they’ll stay out of legal trouble.
That’s why agents say they want training, coaching, support, leads, brand, and so on. They see those as the means to achieve the end of confidence.
So, the more confidence you can inspire in agents, the more you can recruit them on the front end and retain them on the back end.
Agents want to know they’re appreciated. That ownership and management see them as more than walking dollar signs.
But appreciation is tricky because few agents will tell you they feel unappreciated. Instead, they’ll knock on your door one day and tell you they’re leaving because of split, or training, or leads.
Best to keep the official explanation for leaving logical and avoid the awkward discussion about feelings and emotions.
So, invest the time to thank your agents for choosing to associate with your company. Do it both publicly and privately. And, do it often.
The single fastest way to lose good agents is for them to feel unfairly treated. And it’s easier than you might think for them to feel that way.
Agents can feel unfairly treated if they believe they’re paying you too much of their commission. They can feel unfairly treated if they perceive you took the “side” of another agent or consumer in a dispute.
They can also feel unfairly treated if they believe you give other agents better deals or special treatment.
The good news is, agents who feel unfairly treated will often make their displeasure known to you or your staff. And that gives you the opportunity to correct the situation before it results in turnover.
P.S. – There’s one other thing agents really want from a brokerage. And that’s recognition.
Some agents respond to public recognition like awards, newspaper articles/photos, and social media posts. Other agents prefer the private recognition of a handwritten note, unexpected call, or in-person “attaboy”.
You might think recognition has more to do with retention than recruiting. But, recognizing your prospects sends a powerful signal about your level of interest in them.