Here are 20 questions I use when coaching agents in calibrating their activities for success. 1)
Top 5 Reasons Good Real Estate Agents Leave
Dated: October 10 2023
Views: 48
Sometimes when a good agent changes companies, it is easy to understand. For example, a new broker/owner or manager or an office closes or the company sells. Other times, it may not be clear, except to the agent.
Several real estate polls over the years and my own experiences in attracting hundreds of agents reveals some of the most common reasons that good, experienced agents change company affiliations.
They are:
- Feeling disconnected, undervalued or ignored
- Need better training, tech, marketing or admin support
- Looking for a more effective coach/manager relationship
- Concerns about the energy in the office, either negative or lack of
- Uncertainty about the future of the company
- Opportunity to grow beyond sales: leadership, mentorship, training, relocation, etc
- Looking for a different environment, often times to get out of a sales rut
- Wanting to do more sales
While most agents do not move for money (splits, expenses, etc), they do move to fix something that holds them back from doing more business.
I have found that agents do not have commission split problems, they have fundamental business issues that keep them from doing more business. For example, an agent who has high confidence in their company brand, has been well coached by their manager and is supported in their knowledge of their value to the transaction will be able to charge an appropriate fee from their clients that is usually higher than an agent in the opposite position.
Here's the math: a $500,000 sale with a 2% buyer agent commission split 70/30 gives the agent $7,000 in commission. The same sale at 2.5% at 70/30 earns the agent $8,750. To make the same amount from the 2% commission scenario, the agent needs to be on an 87.5/12.5 split. At 3% the agent makes $10,500 at 70/30 and would have to have a 105% split to make the same amojnt!
This is just one example of why most agents do not have a split problem.
If any of these reasons resonate with you and you'd like to learn more about how I am growing a vibrant, powerful team in York and Cumberland counties, please reach out in stric confidence.
Happy selling!
Ed Ridolfi
I am a 2nd generation real estate broker licensed since 1982. I have run offices, recruiting teams and sales regions. My experience has taught me that all good things begin with meeting people. Confi....
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Sometimes when a good agent changes companies, it is easy to understand. For example, a new broker/owner or manager or an office closes or the company sells. Other times, it may not be clear, except
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