How to Build Loyalty Among Your Agents

by | Jul 27, 2021

The real estate industry’s premier marketing thinkers at 1000Watt recently published some of their research and thoughts on loyalty.

Why do 82% of consumers report they’re happy with their real estate agent during a transaction, but over 60% never talk or connect with their agent again?

The assumption that super-servicing a customer will win their loyalty may be wrong.

Delighting customers doesn’t build loyalty; reducing their effort—the work they must do to get their problem solved—does.

Solving the industry’s loyalty problem lies, quite simply, in reducing the amount of effort people need to expend solving their own real estate problems.

I suspect the retention of agents to your office or team follows the same trajectory.

Many brokers focus on delighting their agents with great support, tools, and financial arrangements.

These are all necessary and important factors, but they’re a baseline.

True loyalty is earned by reducing the amount of effort agents need to expend to solve their own business-related problems.

Getting to this objective takes attention to detail, business acumen, and empathy—all things that great managers can access quickly.

 

The Simple Psychology of Real Estate Recruiting [2nd Edition]

Unlock the secrets of effective real estate recruiting. Revised to include actionable frameworks for sharper execution and to help you turn psychological theory into a repeatable recruiting system.

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According to a nationwide survey of more than 1,900 agents, those who consider themselves “experts” at generating leads earn nearly four times as much as agents who struggle with this activity. It’s probably safe to say, the same principle holds true for recruiting.

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But if you’ve been around long enough, you know the business and real estate world doesn’t allow us to indulge in this comfort. It requires us to adjust or be left behind. It also rewards those who recognize that the connection between people, systems, and opportunities needs constant adjustment.

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To keep yourself from getting caught in this trap, do the hard work of creating and maintaining a large and vibrant recruiting database. Poor prospects don’t look so great when you have lots of other choices.