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.

The Attrition Variables

The Attrition Variables

While these attrition constants still have the greatest influence, there are some emerging attrition variables worth noting. People also tend to leave companies when: They feel like they’re not doing as well as others in their peer group outside the company. They feel like they’re not as far along as they should be at a certain point in life.

The Attrition Constants

The Attrition Constants

If you’re not focusing most of your retention effort on these issues, you’ll miss the mark. If you’re not focusing most of your recruiting effort on exploiting these weaknesses among your competitors, you’re missing the best opportunities.

The Persistence Mindset

The Persistence Mindset

A leader equipped with this mindset can have a profound effect on the life and career of each individual they engage. It works because an agent is getting a real-time glimpse of what it would be like to work on your team. But it only becomes believable when it is persistently applied over time.