Recruiting Insight will soon publish our comprehensive study on agent movement.
In the study, we’ll address how brokerage size affects agent movement.
Overall, 2% of firms accounted for 60% of all agent movement.
The remaining 98% of firms accounted for 40% of all agent movement.
In other words, a majority of the agent moves happen between just 2% of brokerages.
Who’s in the 2%? Larger companies with prominent brands.
Who’s in the 98%? Smaller, mostly independent brokerages.
But what happens when only productive agent movements are considered?
The playing field levels a bit.
About 20% of firms account for 60% of the productive agent gains.
About 80% of firms account for 40% of the productive agent gains.
Who’s in the 20%? Again, larger companies with prominent brands.
Who’s in the 40%? Smaller, mostly independent, brokerages.
Takeaways
1. A large majority of firms in the real estate industry do zero experienced agent recruiting.
2. By contrast, a surprisingly small number of brokerages with prominent local or national brands do most of the recruiting in the industry.
3. However, since 40% of productive agent gains still happen among smaller firms, hiring managers who identify and dominate a recruiting niche can find success.
4. While the large firms are recruiting the most agents, they’re also losing the most agents (56% of agent losses come from these firms).
The battle for real estate talent is real.
It’s important you know the lay of the land so you can craft an effective recruiting strategy.
