1.8 Million Transactions are Missing

by | Aug 17, 2023

Earlier this week at the KW Mega Agent Camp, Gary Keller did some math for us.The industry is projected to see 4.3 million home sales this year, significantly down from the 6.1 million sales in 2021.Fewer overall transaction sides mean the average number of sides per agent this year will come in at roughly 5.7 sides.  In the last few years, order-taking agents flooded into the market when there were 1.8 million excess transactions that needed to be processed.  Now that transaction volume has subsided, professional agents and high-performing teams will capture a higher percentage of the smaller pie.  This trend will continue for the next few years, and the firms with the best agents (not the most agents) will gain market share.This doesn’t mean you should stop recruiting, but it does mean you should start replacing the order-taking agents with true professionals. It’s one of the reasons this week’s Recruiting Mastermind is so important. Equipping both new and experienced agents to capture more business than their peers will position both you and your agents to win.Are you not sure how to do this?   Join us.

 

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.

Creating Pacts to Avoid Distraction

Creating Pacts to Avoid Distraction

Notice the two parts to Nir’s formula: a pre-commitment and an external force to keep you accountable to that commitment. For recruiting setting goals and time-blocks in your schedule is not enough. Most people need some kind of external accountability, as well.

Look for Individuals Who Want to be Measured

Look for Individuals Who Want to be Measured

It’s not that people with a growth mindset don’t experience failure—they just see failure as an opportunity to learn new things, to be challenged, and to experience curiosity. This is an important topic to cover during interviews and follow-up conversations with your prospects. If you find someone who likes being measured, you’ve likely found someone who will push through the inherent failures of growing a real estate business and experience long-term success.