Ready for the Agent Bubble?

While many brokers look over their shoulders for the real estate bubble to burst, their real concern should be the inevitable agent bubble.
While many brokers look over their shoulders for the real estate bubble to burst, their real concern should be the inevitable agent bubble.

?There’s all this talk about the real estate bubble, but we’re going into a healthy?dare I say normal?market,’ says Buffini & Company trainer J?aime Sans Souci. There will be, however, an agent bubble. What that means for brokers is that there will not be a line of people at the door looking to get into the industry. We will have to become more skilled at the recruiting and selection process.

Sans Souci believes that the change in the agent marketplace will be a healthy thing, as it will eliminate those agents who viewed real estate as more of a hobby as opposed to a serious career.

To navigate the changing recruiting landscape, brokers should garner as much feedback as possible from both clients and their agents in order to make their company as attractive as possible to new recruits.

?We have to take a look at what we have control over,’ says Sans Souci. We need to talk to our agents and get their feedback on what they think of our present environment, our culture and the value we provide. Ask them, ?What are the top three reasons you would give someone to encourage them to join our organization??

?Bottom line, the focus for the next 10 years has to be on agent productivity,? Sans Souci adds. We have to ask ourselves, ?How can we, as brokers, take a vested interest in helping agents become more profitable?? If we do that, they will stay with us, they will help us recruit and the better our company will be.?

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