“In the battle for top real estate talent, a healthy commission split and great training simply aren’t enough”. Inman Tech
Leading real estate brokers share a common set of pain points: agent recruitment, agent retention and agent productivity — and with average agent tenure at under four years (NAR), brokerages don’t have a lot of time to realize returns on their agent recruitment efforts.
A well-designed tech stack plays an increasingly central role in addressing these pain points — especially in attracting top-level talent.
A 2018 article by Inman’s Joe Skousen outlines the intersection between having a winning tech strategy and leveraging high-performing sales agents:
- tech-savvy agents tend to be top producing agents
- lead management and distribution platforms keep top-producing agents fed with quality leads
- marketing automation platforms allow top-producing agents to focus on the human aspects of their jobs; servicing clients and selling homes — while automating client nurture activities
Leading real estate brands are making agent-centric technology a centerpiece of their agent recruitment and servicing strategy. The last 24 months have seen a number of major moves by leading brands, including:
- In 2108, global franchisor RE/MAX acquired booj, a Colorado-based web design and technology company. In announcing the acquisition, RE/MAX stated that their strategy was “to serve the industry’s most productive agents by providing technology that saves time, connects them to clients and leverages the RE/MAX brand”.
- In promoting e-Edge, the proprietary solution built by Keller Williams, the brand asserts that it is the first and only complete lead-to-close agent business solution.
- When Better Homes and Gardens recently announced that it is empowering its broker network with the talent attraction and management platform Sisu, their CEO stated that “every broker … can look forward to a smarter, more streamlined approach to recruiting and talent management”.
In closing, every leading brokerage or top-producing agent knows — their stack is crucial to their success. The ones who invest accordingly will prevail.