Are your agents happy with your brokerage?
Retaining top agents is essential to brokerage growth and performance. You might think your agents are satisfied at your brokerage – until they unexpectedly leave. Losing agents can reduce profitability and undermine brokerage growth.
Instead of being surprised by agents leaving, back office software can help you spot agent red flags. That way, you can get ahead of the problem and retain your top producers. Wondering how? We’ll cover everything you need to know to spot and fix agent retention problems. To start, let’s take a look at the first red flag – reduced transactions.
The first agent red flag back office software can help you spot is a downward trend in transactions closed.
How many transactions agents close impacts how much they get paid. However, if your top agents are planning to switch brokerages, they’ll close fewer transactions with your brokerage in preparation. With so much to do each day, it can be hard to notice declining transactions for top agents until they leave your brokerage.
With back office software, you can quickly and easily notice agent transaction trends. The right back office software has dashboard overviews for agent data. In seconds, you can see transaction trends for every agent. This makes it easy to note which agents are doing well, which aren’t, and any changes in transaction volume.
By identifying declining transaction trends with back office software, you can get ahead of an agent leaving your brokerage. That way, you can address any agent problems – increasing the chance of retaining your top agents.
Another red flag that could indicate a top producer plans to leave your brokerage is not meeting goals.
Your top agents are driven to succeed and be the best, so they meet and surpass any goals they set. However, if a top producer is planning to leave for another brokerage, they won’t worry about meeting goals for your brokerage. Instead, they’ll focus on goals outside of your brokerage.
It can be hard to manually keep up with goals for every agent in your brokerage. It’s easy to forget to check in with top producers because they usually meet their goals. However, not paying attention to top agents’ goals can lead to missing warning signs. You’ll only know these agents are unhappy when they leave your brokerage.
Back office software makes it a breeze to spot worrisome agent goal trends. You can use this software to generate agent reports in seconds. Then, you can quickly identify any downward agent goal trends. And, address problems with the agent before they leave.
Top agents failing to achieve their goals is a red flag that they’re moving to another brokerage. Spotting this trend early gives you time to talk with agents, find out the problem, and correct it before you lose top talent.
Along with missed goals, declining commissions is another warning sign top agents plan to leave your brokerage.
Top producers earn the most commissions. By closing more deals with higher-value clients, top agents are pros at maximizing commissions. However, if they’re planning to leave your brokerage, they won’t be focusing on earning commissions now. Instead, they’ll focus on how to maximize earnings at their new brokerage.
Noticing declining agent commissions can be a red flag your agent is planning to leave. However, it can be difficult to spot individual commission trends manually. You have to comb through the data for each agent and compile a report – which can take days or weeks for each agent.
With back office software, it’s easy to identify decreased agent commissions. An agent dashboard helps you spot trends at a glance. And, custom reports can provide detailed agent commission data in seconds.
The right back office software can help you notice declining agent commission trends. This allows you to find and fix why your agent is planning to leave – boosting retention, profitability, and growth.
Lastly, no active or pending transactions for the last 30-60 days is a huge red flag that an agent is planning to leave your brokerage.
Your best agents know how important it is to keep their pipeline full. A full pipeline ensures they have work for months to come. If an agent is planning to leave your brokerage, they won’t bother to have active and pending transactions at your brokerage. Instead, they’ll save those transactions for their new brokerage.
Manually keeping an eye on every agent’s active and pending transactions can be time-consuming. That’s where back office software comes in. With this software, you can create agent pipeline reports in seconds. This makes it easy to regularly check on every agent’s pipeline to identify problems ahead of time.
With the right back office software, it’s easy to generate agent pipeline reports. These reports help you notice problems early. That way, you can address agent concerns before they move to a new brokerage – helping you retain top talent and grow your brokerage.
Retaining top agents is a must to grow your brokerage, maximize profitability, and weather down markets. The best way to retain agents is to address problems before they cause your top agents to leave. Manual back office management makes it hard to spot these issues before you lose top talent.
With the right back office software, you can easily spot agent red flags like decreased transaction volume, not meeting goals, declining commissions, and no active or pending transactions. By spotting these trends early with back office software, you can get ahead of problems to retain your best agents.
Looking for back office software that makes it easy to spot agent red flags? Brokermint is the way to go. With Brokermint’s complete, cloud-based back office software, you can quickly generate agent reports, view agent pipelines, and look at agent dashboards. This makes finding agent retention red flags a breeze.
Along with agent retention features, Brokermint also has five back office modules – transaction management, commission automation, accounting, agent management, and reporting/analytics. Brokermint’s back office platform has everything you need to modernize and streamline your back office.
Book your Brokermint demo today to see how back office software makes it easy to spot agent red flags.
Schedule a demo and see your back office with Brokermint.
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