Right before the holiday, Relitix published their monthly Agent Movement Index report.
Rob Keefe, founder of Relitix, commented on July’s trending:
Real estate agents aren’t moving around as much as they used to. This is important for brokerages to bear in mind as it relates to your recruiting efforts.
If you are not seeing the results that you normally see, it’s not just you–it’s an industry-wide problem.
The stall in agent movement was abrupt because June showed a steady rise in active agents and movement.
In a follow-up post on LinkedIn, Rob offered this follow-on explanation:
Lots of possible explanations [for the abrupt stall], but a major factor has to be the distraction the settlement implementation has caused among brokerage managers, executives, and recruiters.
The amount of mental bandwidth this has consumed in the last 3 months is incredible.
Recruiting is a hands-on, all-in pursuit.
If you are consumed with teaching people how to get paid for buyer sides, it has to have an impact.
Many of the leaders I’ve spoken to in the last few weeks share this sentiment.
As a result, they’re not pulling back as we head into the fall months but increasing their focus on recruiting now that the initial settlement deadlines have passed.
Combine this with the many agents who adopted a “wait and see” attitude over the past few months, and there could be some penned-up supply.
Doing nothing is rarely a good strategy–especially now.
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P.S. Are you struggling to build your recruiting plan for the remainder of the year? If so, reach out to one of our coaches for a free strategy call. We’ll help you develop and focus on a plan that produces the recruiting results you hope to achieve.
