Run a Large Brokerage? Here's What Agents Want

If you’re managing a large real estate brokerage, chances are you find that recruiting new agents becomes challenging from time to time. The larger you become, the more difficult it may be for agents to feel they can differentiate themselves from each other.

So how do you stay above the fold and top-of-mind to agents who are unhappy with their current brokerage, but want to feel that they’ll get a unique experience at a well-known brand like yours?

It’s simple: Focus on creating scalability and resources for agents so they can run their business based on their individual needs. That’s exactly what they’re looking for.

Foster Success With a Mentorship Program
Not every agent comes to a brokerage prepared with the real estate knowledge or expertise that’s crucial to being successful—but all of them want to be successful. Make it your job to set them up for accomplishment in their careers, and start them off with a mentorship program. Mentoring creates a quality experience for the agents, and the value they get in return is worth it for your brokerage as much as it is for the agent.

Many large brokerages require that their new recruits go through a mentorship program—at least for new licensees or agents that have had less than a certain number of transactions per year (typically four or less). This arms the agent with critical information and firsthand experience to thrive. As a broker/owner, you can rest easy knowing your agents will run their businesses the right way, keeping your brokerage’s track record of success intact.

For the experienced agents you recruit, provide them with an accelerated program where you can be present to build relationships with them, review standard procedures and answer questions they may have that pertain to your brokerage.

Provide an Efficient System With Unparalleled Support
Agents don’t have time to learn several new platforms, and a fear of having to do so can often be a deterrent when considering a brokerage switch. An overabundance of tools that aren’t tied together is cumbersome and time-consuming, causing frustration and inefficiencies in an agent’s business. Agents are most concerned with nurturing their leads and clients, not pushing paper or trying to keep track of which platform to use for a specific task.

Combat this agent pain point with a seamless end-to-end experience that creates a centralized location to access everything they need. Make it a priority to connect all of your agents’ resources, promoting their total business efficiency. Doing so creates a unique value proposition for recruiting agents to a brokerage as large as yours.

Building on the value of a seamless system, consider adding dedicated and knowledgeable employees to your staff to offer tech and systems support. This will deliver another layer of security to the agents who may not feel they’re tech-savvy. Agents will be motivated to sign up with a brokerage when they know a live, designated assistant will be available if they need help with anything from logging in to uploading documents.

Empower Agents With a Commission Model That Benefits Their Business
What does every single entrepreneur need to run his or her business? Working capital. By giving flexible monthly-plan options and letting agents keep 100 percent of the commission they earn, they’re free to reinvest in their business in ways that are important to them on an individual basis.

Long gone are the days of commission splits and exorbitant technology or desk fees. Today’s agents want to know that their hard work is going to help them build their wealth, not their broker’s.

Don’t Forget the Most Important Thing
When it comes down to the fundamentals of your brokerage, never forget that agents are entrepreneurs working diligently to build their businesses.

You’re their support system—the foundation that’s there to build them up with resources and tools for their individual businesses. If you believe in this yourself, and run your brokerage as such, agents will seek you out, and recruiting agents regardless of your size will never be an issue.

Remember, agents need resources to keep their business running smoothly, just as you do. Business development training like your mentorship program, a seamless end-to-end system with a support team and a commission model that gives your agents working capital will do all the recruiting for you. You’ll stand out as a brokerage that cares about providing what agents need to fit their unique business needs—and when it comes to recruiting, that’s the most important thing.

Michael Swope is the chief business officer in Operations at HomeSmart International. A seasoned operations veteran, Swope has led operations for multiple professional sports franchises throughout his early career, including becoming the youngest general manager in professional baseball at the age of 27. Having bounced between executive roles on the operations side and sales side of various advertising and marketing technology companies, Swope brings a holistic view to operational excellence at HomeSmart. For more information, please visit HomeSmart.com/join.