After making thousands of recruiting calls, one line stands out more than any other…”Umm…No, I think I’m happy where I am”. Thinking and knowing are two completely different things, so let’s take a look as to why some agents are unsure.
Don’t get me wrong, I’ve had agents say they love where they work and have no desire to move. Solid answer, you can hear it in their voice that they’re genuine. Then we have those that “think” they might be happy but can’t seem to pin-point exactly what that is. Below are some of the most common reasons.
Stuck in a rut – Can happen to anyone and a major reason why agents shy away from better opportunities. Sometimes change is good and rebranding yourself could lead to more business. If you catch yourself saying “Well, I’ve been with them for a long time”…then it’s probably worth exploring better options.
Cost – Sure, buying all new signage and marketing products can be pricey unless you have the right vendors in place (which we do). If you already have frames, then you’ve eliminated half your expenses. Typically, an agent will purchase between 2-10 yard signs at $20 each (SRG price) bringing your total around $40-$200. Business cards go for under $25 per 1,000 and that includes shipping. Directional signs…most agents can get away with 8 signs, which run about $100 total. Now if you throw some riders and extra hardware in, you might be looking at a total initial investment of under $500. When you consider that SRG agents keep 100% of their commissions, this is a drop in the bucket.
Name recognition – This is one of my favorite reasons. It’s understandable from a new agents perspective, but not from those that really understand the industry. Most forget, once a property is listed in TREND, it becomes available to all agents. Plus, clients are coming to you based on a referral or your sales and marketing experience. Clients care more about the final sale price than your franchised company name or color scheme.
Time – “I’m too busy to switch right now”. This seems to be a frequent answer as well, but remember time is money. Chances are there will never be a perfect time to move but the longer you stay the more you pay! Are you attending those mandatory meetings that praise how great the company is doing, yet adds zero value to you or your business? How about spending time in the car, using up your gas just to hear the same regurgitated speeches over and over again? This really is a complete waste of your time and money. Agents that spend their work day in an office are not being as productive as they could be. If the company’s current office structure is not working in your favor, it might be time for a change.
Current Listings – Some agents will not move due to the fact that they have listings with their current office. What this really does is keep the agent on the line since they don’t want to lose financially. In reality, you will make up for that pretty fast when you’re not handing over 20-50% of your checks. Does it make sense to stay for 60-70% of a 3% commission plus fees or go with SRG and make 100% on your 3% with no capping or royalty fees? Also, when real estate companies treat out-going agents badly…why would they ever want to come back? In my opinion, it’s worth taking a small hit now on a couple listings, rather than staying in a perpetual cycle that only holds back your earnings. My grandfather always loved to say: “Sometimes…losing is winning”.
Scared of Change – Yes, change can be scary but so is losing thousands of dollars in commissions and fees. Imagine this, you’re on a traditional 70/30 split plus caps and monthly expenses. Now multiply that by 5, 10 even 20 years. That would keep me up at night!
The Recruiter – Maybe it’s my voice 🙂
Hope you enjoyed this and please keep Springer Realty Group in mind if you’re looking to make a fresh start with a company that puts you first.