At a time when major resignations have posed a threat to many American workplaces, and competition for exceptional agent talent has been great, the real estate industry may not experience a mass exodus of current sales agents, according to Coldwell Banker Real Estate’s annual agent priorities. Report.
The report, conducted by Quester among agents and brokers across top national real estate brands, aims to keep the pulse of what real estate professionals value in their careers. Caldwell Banker says the findings reveal that agent priorities among the real estate brokerage community are now more important than ever.
Real estate is a desirable profession.
- Citing work-life balance, increased income and gratitude for a job, 60% of agents surveyed said the pandemic had had no impact on their future career plans as an agent, and nearly 25% said it made them more interested in remaining an agent.
- For the third time, Coldwell Banker Real Estate ranked #1 in agent satisfaction. Coldwell Banker agents surveyed said they were most likely to recommend their current company to another agent with their current company.
No need to leave.
The hot market makes agents happy, with only 9% of all agents surveyed across all brands reporting that they plan to switch affiliation this year (versus 20% in 2020).
- What is the most important among agents who are open to joining Coldwell Banker?
- Leading technologies and tools: 98%
- Strong brand image: 97%
- Best equipped to navigate the future of real estate: 97%
- Most Known Agent: 96%
- Local experience: 94%
- Recognized by buyers/sellers: 93%
- Coldwell Banker’s agents are less likely to change affiliation in the next two years than agents of any other company according to the survey results.
- Agent affinity is growing: Agents associated with the Coldwell Banker brand are less likely to change affiliation in the next two years than agents of any other company.
- Gold Star’s Opinion: Agents’ opinion of the Coldwell Banker brand is higher than for any other real estate brand.
The main reasons for leaving.
- For those clients not affiliated with Coldwell Banker who chose to leave their company, several factors were at play. According to the survey, reasons why agents who were not affiliated with Coldwell Banker left their previous brand included:
- Commission: 46%
- Referrals / Potential Customers: 40%
- Team support: 36%
- Better Tools: 31%
- Better Training: 27%
- Culture: 25%
- Local fame: 20%
Brand reputation is key.
Real estate brands have more competition than ever to retain and attract the best talent. An outstanding brand reputation will prevail, with most dealerships agreeing that their company’s reputation is important to the success of their business.
“At Coldwell Banker, we pride ourselves on ensuring that the tools, services, and education we offer our agents enable them to thrive,” said Ryan Gorman, CEO of Coldwell Banker Real Estate LLC. “This survey, along with our important recruitment and retention statistics, is an affirmation of our success in our efforts and deliver the value our agents deserve to build their track record. They are also confident knowing that we honor and respect them as individuals and respected members of the Coldwell Banker family. We warmly invite all agents to attend. and exploring the strength of the Coldwell Banker brand.
“Our agents’ guidance is unparalleled in the industry, and we are committed to understanding the priorities of real estate agents in order to deliver what is most important to our network,” added David Marin, Chief Marketing Officer, Coldwell Banker Real Estate LLC. “We believe that our depth of care, our production-enhancing suite of resources, and our inspiring culture make Coldwell Banker Real Estate an exceptional home for real estate professionals. It’s a commitment we call the Coldwell Banker Way.”
To read the full report, click here.