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How Your Brokerage’s Tech Stack Makes Agents Stay (Or Leave)

 

What do you think agents say is the number one consideration when choosing a real estate brokerage? I bet the default for many of you would be the commission plan. Most assume they’re always going to go right to the commission plan.

What if I told you that’s not true? According to a brand new study of 600 agents, they found that the number one thing driving the conversation about making a switch was technology—who is leading in technology.

So here’s a question for you: what is your tech stack as a real estate brokerage owner or team leader? Does your tech stack put you on a parity basis with the major players in your market, or are you inferior? That’s number one.

And then, do you have some advantages? Do you have things you’re doing a little bit differently?

Maybe you’re starting to use some AI in your business. Maybe you’ve created some lead-flow opportunities. Maybe you’ve created playbooks and plugged technology into them to make that technology really work for your agents.

So...

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The “Five One” Retention Strategy to Keep Your Agents from Leaving

 

Why do agents stay at a company rather than leave and go somewhere else? Forty-three percent of agents report the number one reason they're loyal to their current company is not their compensation plan. In fact, only 13% rate their compensation plan as the number one reason they're staying.

Forty-three percent rate the culture at the company—the culture, the vision, and the leadership of the company they're working at—as the number one factor for sticking around and staying loyal. So think about that from your perspective as a brokerage owner or team leader.

What’s your culture like when somebody comes in? How do they feel about working in your environment or office space? Does it feel like a family? Does it feel like you’ve got esprit de corps, you're having fun, you're energized? Is it a fun place to be with a shared vision of what you're trying to build? Or do you not have that?

If you don't have that, you're at risk of losing people to other firms that have a better vision, bett...

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4 Reasons Why Giving Back During The Holidays Gives Your Brokerage An Unfair Advantage

 

Hey guys, as a brokerage owner or team leader, with the holiday season coming up, I want to encourage you to think about what your company is doing to give back to the community.

Giving back has so many benefits. It’s a powerful team-building and retention tool. It also shows potential recruits that your company isn’t just about profits—you genuinely care about people and the community. And for buyers and sellers in the market, it demonstrates that you’re hyper-local focused and committed to giving back regularly.

Here’s what I encourage you to do: pick a charity the whole team can get behind. It doesn’t have to be housing-related.

One year, we did a project giving kids shoes during the winter. Many kids were going to school with holes in their shoes, and their feet were getting wet. Another year, we focused on coats for kids.

Every year, we put together a charitable event during Christmas. We’ll do Thanksgiving-style turkeys and then a big Christmas dinner, along with toys for kid...

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Brokerages: Stop “Recruiting” Agents (Do This Instead)

 

Hey, brokerage owners and team leaders. I’m going to do a quick role play with you right now.

Let’s pretend you’re an agent who just had a failed transaction with one of my agents. I’m going to call you—not text you, but call—and say:

"Hey Jim, I just wanted to reach out. I know you had a transaction with Bob that didn’t come together this morning. I got the bad news, but Bob told me you were an absolute pro throughout the process. This has nothing to do with you or your client—sometimes things just happen. I just wanted to say thank you for your professionalism. We look forward to working with you again in the future. And if there’s ever anything I can do to help, I’m here."

Now, imagine making that kind of call after every failed transaction where the other agent handled things well. What do you think is going to happen on the other end of the call?

Do you think that agent will appreciate it? Absolutely. No other broker is making that kind of call.

What you’re doing is laying a ...

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Why Your Agents Aren’t Performing (And The Secret to Doubling Agent Production)

 

One of the jobs we often overlook as managers, broker-owners, or team leaders is the important fundamental of setting macro and micro level goals for your organization.

What do I mean by that?

A macro goal is the big picture—being able to say to your team this is our goal for the company this month.

It might be:

  • “We want to take 25 listings.”
  • “We want to generate 25 transactions.”

(Or maybe it’s 50. Maybe it’s 100. Pick your numbers.)

But we have to set a clear expectation for what we’re trying to achieve. That’s how we build a culture of performance.

When we don’t set those expectations, there’s no strategy, no sense of direction. No one knows what we’re aiming for—and as a result, it never happens.

We wonder why we can't break through certain barriers. It's because we don't set goals.
You can't hit targets you don’t set.

So set a target for your organization. Say it out loud. Proclaim it. Make it something your team is excited to shoot for.

And when you’re getting close...

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How to Handle Toxic Top Producers and Build a Stronger Real Estate Team

 

Let’s talk about the Primadonna agent.

We’ve all heard the term, but what does it mean? It refers to someone—hopefully not in your office—who believes they hold power over the broker or staff. They might wield this perceived power by being verbally aggressive or abusive, saying and doing things that are completely inappropriate. They think they can get away with it because of their production level or tenure in the office.

So, what do you do with a Primadonna agent? Here’s the unspoken fear many office and team leaders face: If I get rid of them, I’ll lose money. Maybe they’re a top producer, and you’re thinking, “I can’t afford to lose someone like that.”

But when you let this fear control your actions, it gives them even more strength—and their behavior gets worse over time. Worse still, having this kind of toxic person in your office impacts your recruiting. Potential recruits may avoid your office entirely, even if they don’t say it outright. They may think, “I’d join, but I can...

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What To Do After a Potential Brokerage Recruit Suddenly Goes Cold

 

You might’ve had a call where you had a great conversation with a potential recruit—someone you thought would join your company—and then suddenly they went cold. They didn’t join.

What happened?

Well, it’s not about your offer. It’s not about you, what you said, or didn’t say. It’s about their timing. Timing is unique for every agent. Every agent has a runway—that is, the time it takes for them to join your firm. Some have a short runway, some a long one, and others a really long runway.

It’s not about your timeline; it’s about theirs. And here’s the key: the fortune is in the follow-up. But you don’t want to apply pressure.

Here’s what the worst recruiter does: “Jim, we’ve got to get you over here. Let’s make it happen!”

That approach is all about your needs, not theirs.

People often have legitimate reasons they can’t make a change right now. They may have things going on in their world—deals, listings, personal matters—that make it logistically impossible. If you make it about ...

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The “1-3-1 Coaching Method” for Building Your Agents’ Problem-Solving Skills

 

If you're coaching agents as part of your real estate brokerage or team, which we all do, one of the best methods I’ve learned is the 1-3-1 Method.

When someone brings you a problem, start by asking:

First, let's clarify the problem: What’s the one main issue we’re dealing with here?

Not 55 different things—just the one big issue we need to solve.

Then, ask: What do you think are three viable solutions for solving this?

If they can’t come up with three, help them brainstorm.

Finally, have them choose: Which do you think is the most viable option for actually getting this resolved?

Encourage them to go out, try it, and see how it works.

As a leader, whether you're a team leader or a brokerage owner, make a note in your CRM to follow up with that agent in a day or two. Check if the resolution actually solved the problem. Sometimes they'll come back and tell you, but if they don’t, reach out and ask, "Did that solve the issue?"

By using the 1-3-1 Method, you’re teaching them to f...

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How to Stand Out and Attract Top Agents with the “Unique Genius” Method

 

Here's an interesting question I was asked recently:

What is your unique genius in the real estate industry?

If you're a brokerage owner or team leader, I really want you to think about this. What's your unique genius? What sets you apart? What are you exceptionally good at? That specific thing is what you should lean into when it comes to recruiting and building your company.

Maybe you're great at investments and have built a large investment portfolio. Maybe marketing or social media is your strong suit. Perhaps you're an expert negotiator or a fantastic listing agent. Whatever it is, figure out your unique genius in this market and industry.

Then ask yourself: How can you leverage that strength to inspire others to join you?

What you're doing is creating a category of one—something you're so good at and so different in that people want to model it. This helps you create what Seth Godin calls the "purple cow." A purple cow is someone doing something completely different from eve...

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Podcast #59: Building a Team and Scaling Your Business w/ Michael Hellickson

 
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Fresh ideas, new scripts, cool tools, and the hottest trends in the real estate industry are coming your way. Have an amazing day!