Much is discussed in independent real estate broker circles about the hiring and retention of real estate agents. Every day, as more and more franchises invade even the smaller markets, agents are constantly being recruited by franchise head hunters who lure them in with promises of high commission splits, low expenses and an endless supply of internet leads generated by the mother ship. But at what cost?
One thing I notice missing from the lavish offers of generous commission splits and unlimited internet leads is a conversation or agreement on the value of education —not just the required credits to maintain your license — not a franchise webinar on the proper use of company forms— I am referring to electives that can boost the knowledge, performance and professionalism of the agent and thereby the entire industry: aka professional designations.
I checked out our Press Room page the other day and I was impressed with our group commitment to education and training over the years.
In a previous post I discussed the 2015 D.A.N.G.E.R. report commissioned by the National Association of Realtors and researched and authored by the Swanepoel T3 Group. This report states that untrained, unethical and incompetent agents was considered the greatest threat to the real estate industry.
I am pleased to report that at Home Selling Team we value continuing education and we have the designations to prove it. We always include education opportunities on our monthly agenda to encourage participation or we invite speakers to our brainstorming meetings to share their knowledge on topics including mortgage lending, retirement savings, environmental issues, and home inspections.
Real estate sales is a high pressure job, especially for newer agents without an established base, and the opportunities for down time are far and few. The camaraderie of a field trip with fellow realtors to a real estate conference can be important for retention and provide the encouragement and support they need to stay motivated through the peaks and valleys of self-employment.
The sole focus by some franchises on numbers alone has created the unintended consequence of many more agents on the roster, most knowing less. When I am asked by an agent from another company in the midst of a transaction, “What do I do now?”. My answer: Have you signed up for a class?