Real Estate

More agents plan to switch brokerages in coming year: Survey

Stronger lead generation systems and commission structures are driving more agents to consider changing their brokerage affiliations in the coming year, according to Coldwell Banker Real Estate’s annual Agent Preferences Report published Wednesday. In a survey of 1,500 agents, 39 percent said they plan to switch brokerages. That’s a 56 percent increase from 2023, when 25 percent of agents said the same thing.

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According to Coldwell Banker Real Estate, robust lead generation systems and commission structures are driving more agents to consider changing their brokerage affiliations in the coming year. The annual Agent Preferences Report was published on Wednesday..

Jason Waugh | Credit: LinkedIn

In a survey of 1,500 agents, 39 percent said they plan to switch brokerages. That’s a 56 percent increase from 2023, when 25 percent of agents said the same thing. Among the 852 respondents affiliated with Coldwell Banker, agents who said they plan to move from 2023 (30 percent) to 2024 (31 percent) increased marginally.

“Given today’s challenging landscape, many agents are more open to leaving their current company and working with a partner that is more personal to them,” Jason Waugh, president of Coldwell Banker Affiliates, said in a written statement. and best supports career goals.”

For agents who plan to switch brokerages this year, more referrals and leads (52 percent), better training and education opportunities (44 percent), better commission structure (42 percent) and better team support ( 42 percent) are important factors. Behind their decision

When it comes to agent priorities, brand trust (93 percent), marketing and advertising support (88 percent), a strong brand image (85 percent), recognition (83 percent) and well-known technology and tools (82 percent) top the list. List

Respondents affiliated with Coldwell Banker cited brand trust (97 percent), marketing and advertising support (95 percent), strong brand image (95 percent), recognition (95 percent), and leading technology and tools (92 percent). As a priority when considering the choice of brokerage.

Coldwell Banker agents also expressed increased interest in the brokerage’s luxury real estate expertise (66 percent in 2024 vs. 51 percent in 2023) and the strength of their global footprint (65 percent vs. 50 percent).

Waugh said he was proud of the results of the respondents affiliated with Coldwell Banker as the company approaches its 118th anniversary in August.

“I’m proud to say that Coldwell Banker Network continues to find value in our products, services and resources, as well as our partnership with the brand,” he said. “Our strong reputation, powerful brand image and global network prepare affiliated agents to maintain their presence in the market.”

Coldwell Banker’s survey comes amid a recruiting frenzy centered around attracting high-quality agents who have the experience and skills to navigate strong market directions.

Of the 1,009 agents who responded to March’s Inman Intel Index, 71 percent said they received recruiting offers during the first quarter of the year. Nineteen percent said they receive a recruiting call once a week, and 32 percent said they receive a call once a month.

Coldwell Banker Realty President and CEO Comney Lane offered his insight on Intel’s findings, saying a sluggish market would increase competition and force brokerages to supercharge their retention and recruiting efforts. Is.

“When the market contracts, the cream rises to the top and the best agents are the ones getting fewer listings. [that remain]”He told Intel in April. “Because of this dynamic, we naturally look for better and better agents.”

Email Marian McPherson.




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