Agents are looking for perks and positivity when selecting a brokerage to work for
By Andrew Conner
While the Great Resignation has had a big impact on many industries, it’s yet to be seen how it translates to real estate agents, who are often independent contractors, in the same way it has for other workers. However, the idea that workers have an opportunity to upgrade their work environment is certainly something to consider in the real estate industry.
“Just yesterday, another real estate company called me, trying to woo me away from my brokerage firm—my extended family,” says Wendy Bliss Highfill, CRS, REALTOR® with ERA Shields Real Estate in Colorado Springs, Colorado.
What makes an attractive brokerage?
When agents like Bliss Highfill have options, it’s important to ensure your brokerage remains attractive to new agents. So what are agents looking for in a brokerage? The biggest item on the list is a positive culture.
“ERA Shields Real Estate resonated with me because of its dynamic culture,” Bliss Highfill explains. “Everyone helps each other out. We are incredibly fortunate to have associate brokers at our company that have been here 30-plus years and have amazing wisdom to share. It’s a very collaborative environment. The perks offered to us are amazing, from the marketing support to the continuing education to our amazing broker-owners—that’s what makes the kind of culture that you want to be a part of.”
She also points to the things her brokerage does outside the office. “We have monthly sales meetings, but we also do a yearly company retreat,” says Bliss Highfill. “We all feel strongly about giving back to our communities and are all involved in volunteering throughout the year. Recently, we helped military families through Operation Homefront—Star-spangled Babies by donating much-needed items to military families with newborns. Last year, as an entire company, we painted the house of a woman who was severely ill. Through a team effort, we were able to paint her home in one day.”
Mia Russell, CRS, REALTOR® with MBR Realty Group in Bowie, Maryland, agrees with Highfill and emphasizes the importance of knowing your team and working closely with them to build strong relationships.
“I have a small brokerage, and I spend one-on-one time with each agent,” she explains. “It’s a regular occurrence for us to touch base, especially during the pandemic. Sometimes it’s as simple as listening and encouraging your agents. I prioritize them and talk about their goals and how our network may help them achieve those goals. Especially during the pandemic, these touchpoints became increasingly important.”
As Russell mentions, the pandemic has made this dynamic more difficult. Donna Bruno, CRS, REALTOR® at Coldwell Banker Residential Realty in Pleasantville, New York, suggests investing in technology and making sure agents feel connected.
“It’s no secret that the industry has changed,” says Bruno. “Many modern agents are working virtually, so I believe agents today are looking for technology and support to get their business done. Agents who use our technology suite of products and engage with our education classes are twice as productive. In addition, since agents are working remotely more often, that can foster a feeling of isolation. I believe they seek more connection to their peers either remotely or in person, so recognition is more important than ever. Live or virtual events that bring the team together are key.”
Asking the right questions
When looking at improving your brokerage culture, Bruno suggests asking yourself the same question agents should ask about each transaction: Why? For agents, it’s why should a seller or buyer work with you?
“On a company level, the question is, ‘Why should agents stay at the company, or why should agents join?’” says Bruno. “For me, it’s our culture. It’s one of the things I’m most proud of. Everyone at our company has the ability to be heard. The amount of support and collaboration everyone can expect in our company is amazing. The activities all align with the values supported by Coldwell Banker Realty’s vision and mission statements.”
Creating a positive culture will only become more important as competition for listings increases, as agents may want a brokerage that provides more support.
“We recently had an individual move over to our brokerage from a different national company, and he came to us because he liked the supportive, positive and upbeat climate that we have,” says Bliss Highfill. “This is someone who’s been in the industry for 15 years. It makes me wonder—as it gets more competitive to win listings, and doubly competitive for our clients to have the winning offer on a home in this sparse listing market—if agents will be more selective with their brokerage firm, where they hang their license. If you’re not offering these important intangibles, an agent might head out the door.”
Make the Most of Mentorship
Creating a positive brokerage culture starts with people. “When people feel appreciated and valued, they are better prepared for success,” says Mia Russell, CRS, REALTOR® with MBR Realty Group in Bowie, Maryland. “That can mean different things to different people, so managers and brokers need to foster individual relationships with their agents.”
One way to ensure your agents are successful is through mentorship. Whether formal or informal, mentorship gives agents a way to connect with each other and ask questions they may not otherwise feel comfortable asking.
“We have an incredible mentorship program,” says Wendy Bliss Highfill, CRS, REALTOR® with ERA Shields Real Estate in Colorado Springs, Colorado. “It’s something that was started a few years ago that I was fortunate to be a part of. The broker-owners paired each of us with mentors who are very experienced REALTORS®. Though many of us have been REALTORS® for the past few years now, we still have recurring discussions with our mentors about the real estate we are working and strategizing on and a myriad of other things. There is a wonderful friendship that develops as our mentors see us grow and develop a deeper understanding of our industry. Some companies will charge you a coaching fee per transaction, up to 10 transactions, but thankfully that is not the case at our company—we all feel incredibly fortunate to be a part of this program.”
A positive culture starts at the top. Check out the recording “Mind, Body, Sell,” which discusses healthy habits you can implement today, available at CRS.com/webinars.
Photo: iStock.com/Cecilie_Arcurs
