What are Leading Brokerages Offering Agents in 2023?

5 Overall Brokerage Trends

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1. 100% commission model continues to gain market share.
   
   
2. More services provided at a lower monthly fee to agents.
   
   
3. Continued push for agents to reach 100% of time spent selling.  This is done by eliminating agent time spent on support functions like creating marketing materials, learning lead generation, and learning new technology.
   
   
4. Continued push for more agent services/ operations in an online/ cloud-based environment for availability everywhere.  Saves time and money, enables a quick scaling of the operation, and allows for a wider recruiting area.
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5. ​Automation of daily operations is quickly becoming a focus of brokerages.  Automation enables scaling up the size of a brokerage without labor bottlenecks.

10 Pillars (Value Components) Offered by Brokerages

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1. Better Compensation

Overall trend is toward 100% with flat transaction fee ranging from $300 - $600 per transaction, allowing agents 2 or more "plans" to choose from.
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RECRUITING FOCUS:  Consider 100% for introductory period -- for a certain number of transaction or timeframe.  Also consider Parallel Relaunch to combat legacy commission models.

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2. Lower Fees

The overall brokerage trend is toward lower fees.  Fee structure ranges from $35 per month to $100 per month, with 2 or more "plans" to choose from.
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RECRUITING FOCUS:  Consider Zero Fees for introductory period.

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3. More Leads

Help agents achieve 100% of time selling by handling support functions centrally including lead generation.
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RECRUITING FOCUS:  Consider Free Leads for an introductory period.

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4. In-House Design Support

Achieve 100% of time selling by handling marketing design work for your agents.
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RECRUITING FOCUS:  Consider adding a Design Center™ to your brokerage.

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5. Better Marketing

Reach goal of "consistently professional" marketing and branding for agents.
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Consider adding these solutions to your brokerage:
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Advertising Center™: Real Estate Video Library with Branding for Agents.
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Design Center™: In-House, Semi-Custom "Select-A-Design" Marketing Creation Process for Agents.

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6. Superstar Mentoring Program

Offer mentorships with successful agents to recruit more agents.  You may need to strike revenue/profit share deal with Mega agent in exchange for their mentoring.

RECRUITING FOCUS:  Consider partnering with Mega agent to draw in new recruits, e.g., "million $$$ mentor".

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7. Passive Income Opportunities

​Revenue and/or Profit Share programs.
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RECRUITING FOCUS:  Consider adding revenue/profit share programs that incentivize higher sales production and recruiting new team members.

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8. Better Culture

Soft value add.  Difficult to provide evidence ahead of time unless an agent was referred by someone internally who can speak to it.  Better Culture evolves from happier agent workforce.

Happier agent workforce evolves from 2 primary components.  1) Broker satisfaction.  Is the broker liked or not so much. 2) Job satisfaction which is a function of the four pillars of the brokerage: compensation, people, process, and technology.

​Having a well-liked broker and improving the 4 pillars will yield a better culture.

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9. Suite of e-Systems & Tools supporting paperless environment

Highlight/ list your array of eTools deployed to save agents time, avoid headaches and streamline operations. The best example of this is dotloop.com.  

Consider branding your eTools area/suite officially (e.g. OneSuite™, ToolBox™, etc).

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10. Tuition Reimbursement or Licensing Program

Applies only to NEW agents.

NOTE: Experience shows 8 or 9 out of 10 new agents fail/leave within 12 months so structure this program considering it can be unprofitable until transactions come in from the 1 or 2 successful new agents.

RECRUITING FOCUS:  Reimburse students for their real estate license fees in exchange for their commitment to join your brokerage for a specific amount of time.

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