More Agents Plan To Switch Brokerages In The Coming Year: Survey

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Stronger lead generation systems and commission structures are motivating more agents to consider changing their brokerage affiliations in the upcoming year. According to Coldwell Banker Real Estate’s annual Agent Priorities Report released on Wednesday, 39 percent of the 1,500 surveyed agents intend to switch brokerages. This marks a 56 percent increase from 2023 when only 25 percent of agents expressed the same intention.

The report highlights the shift in priorities among agents, with a growing emphasis on factors such as brand trust, marketing support, brand image, recognizability, and technology tools. Coldwell Banker agents, in particular, are placing greater importance on luxury real estate expertise and global footprint when evaluating brokerage options.

Coldwell Banker President Jason Waugh acknowledged the changing landscape, noting that many agents are now more willing to explore new opportunities that align with their personal and professional goals. For agents considering a brokerage switch, key drivers include the desire for more referrals, better training, improved commission structures, and enhanced team support.

Overall, the survey underscores the competitive nature of the real estate market, with brokerages intensifying their efforts to attract high-quality agents amidst a challenging environment. The recruitment frenzy, as observed in the industry, is indicative of the heightened competition for experienced and skilled agents who can navigate market uncertainties effectively.

The real estate industry is experiencing a trend of agents considering switching their brokerage affiliations due to stronger lead generation systems and commission structures. Coldwell Banker Real Estate’s annual Agent Priorities Report revealed that 39 percent of agents surveyed plan to switch brokerages in the coming year, showing a significant increase from the previous year. Factors driving agents to switch include wanting more referrals and leads, better training and education opportunities, a better commission structure, and better team support. Brand trust, marketing and advertising support, a strong brand image, recognizability, and leading-edge technology and tools were identified as top priorities for agents when considering brokerage choices. Coldwell Banker agents specifically valued luxury real estate expertise and the strength of a global footprint in their decision-making process.

The survey results reflect a larger trend in the industry where brokerages are actively recruiting high-quality agents who can navigate challenging market conditions. The competition for top agents has intensified, with 71 percent of agents reporting receiving recruiting offers in the first quarter of the year. As the market contracts, brokerages are ramping up their retention and recruitment efforts to attract the best talent. Coldwell Banker President and CEO, Kamini Lane, noted that in a slower market, the best agents are more likely to secure listings, making them highly sought after by brokerages.

Overall, the real estate industry is seeing a shift in agent priorities towards brokerages that offer strong support in terms of lead generation, training, commission structures, and brand recognition. As agents look for opportunities to enhance their career goals and personal growth, brokerages are under pressure to provide the resources and tools that meet these needs. The recruitment landscape is competitive, with brokerages vying for top talent to navigate the challenging market dynamics and maintain a strong presence in the industry.

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