September is a “back to basics” month for Inman. As the real estate industry navigates a post-settlement era with new commission rules, real estate professionals from across the country share what’s working for them, how they’ve evolved their systems and tools, and where they’re personally investing.
The real estate market faces unique challenges with inventory at an all-time low. For brokers and agents, this means fewer transactions and increased pressure to stay competitive.
Take part in the September INMAN INTEL INDEX survey
As the market tightens, it’s increasingly important to keep top talent coming back. Talent retention isn’t just about retaining your agents; it’s also about keeping them engaged, motivated, and empowered to navigate market fluctuations. Here are nine strategies to help you retain top talent, even when job openings are scarce.
1. Cultivate a supportive and collaborative culture
When the market slows, motivation drops just as quickly. This is where company culture comes into play. A supportive and collaborative environment keeps agents engaged and reassures them they’re part of something bigger. It brings stability and camaraderie in uncertain times.
Creating an inclusive environment doesn’t require a complete cultural overhaul. Regular team meetings Celebrate small victories and set up friendly competitions to help agents focus on progress even when the number of properties is low.
Recognition programs in which agents receive praise for non-transactional efforts, such as maintaining strong customer relationships or pursuing further education, can also foster loyalty and motivation.
2. Provide one-on-one development opportunities
Agents need to see a future for their business, even when sales are down. Providing individual growth opportunities can make a big difference, especially in a slow market. Agents who hone their skills and see a path for advancement are less likely to leave for another company for a short-term gain.
Customize coaching and training programs to meet your agents’ individual needs. One-on-one sessions We provide leadership training, advanced negotiation strategies, and team-building exercises to address the specific challenges you face in the current marketplace, which not only sharpens your skills but also demonstrates that you’re committed to long-term success.
3. Create an experience for agents and clients
In real estate, it’s not just about selling a property, it’s about the overall experience. Collaborate with luxury brands. Consider private events at luxury car dealerships, luxury furniture showrooms, and high-end fashion boutiques. Hosting these events gives your agents and their clients VIP treatment and provides an experience that goes beyond real estate.
These experiences help agents strengthen relationships with their clients, even if the deal isn’t closed at the moment. Maintaining engagement through memorable events strengthens long-term loyalty and positions agents as more than just deal brokers — they’re experience curators.
4. Use technology to increase efficiency
When the market is sluggish, efficiency is key. Agents who feel they have the tools to succeed will stay motivated even when deals are slow. The right technology can help agents make the most of limited opportunities and stay competitive. When things are sluggish, it’s a good time to take advantage of the tools your office offers.
We equip agents with cutting-edge digital marketing tools, an AI-powered customer prospecting system, and a streamlined deal management platform to streamline their day-to-day work, allowing them to focus on building relationships and preparing for the market recovery.
Set yourself apart from your competitors by encouraging them to use technology to showcase properties through virtual tours and automate repetitive tasks.
5. Focus on building long-term customer relationships
Fewer listings may result in fewer transactions, Relationships are everythingAgents must shift their focus from immediate sales to long-term relationships with their clients. Building a pipeline of future opportunities is essential to staying relevant.
Encourage your agents to deepen their relationships with customers by providing personalized follow-ups, creating valuable content, and sending thoughtful, non-sales-focused messages. Agents who check in with their customers all the time, not just when they’re ready to buy, are the ones who will have a strong pipeline when the market picks up again. This shift from transactions to relationships is what helped many top-performing agents maintain momentum even during the downturn.
6. Prioritize work-life balance and health
Real estate professionals are prone to burnout, especially when they feel the pressures of an unpredictable market. When agents feel overworked and stressed, their performance suffers and they’re more likely to seek a better job elsewhere.
Create an environment that prioritizes mental and physical health. Showing that you care about your agents’ well-being will increase loyalty and reduce burnout. These efforts will help agents realize that their value to your company goes beyond the number of deals they close.
7. Curate an Agent Mastermind Group
We host exclusive Mastermind groups where top agents can come together to exchange ideas, discuss market strategies, and learn from industry experts. These groups not only provide professional development, but also create a sense of community and common purpose.
The focus is on fostering collaboration and creativity. The extravagant experiences within these groups (whether it be off-site retreats or partnerships with luxury brands) are secondary to the discussions that help agents hone their skills and develop innovative strategies for the future.
8. Make space for agent remodeling days
Sometimes agents need a “remodel,” an opportunity to step back and reinvent key parts of their business. On Agent Remodel Day, agents come into the office and work on refining their personal brand, upgrading their marketing materials and improving their client management system.
Providing expert guidance through in-house resources and guest coaches, the day aims to create a dedicated space where agents can focus without distractions and make meaningful changes that will benefit their business in the long run, providing agents with the opportunity to dig deeper into specific areas of their business that may have been previously neglected.
9. Host a No Excuses Day
This is the ultimate accountability day. Agents come in with one goal in mind: to tackle that one task they’ve been avoiding that will have a big impact on their business. Whether it’s setting up your CRM, finalizing a lead generation strategy, or simply getting your schedule in order, No Excuses Days gives agents the time and support they need to get it done.
Each agent tackles the tasks they’ve been putting off, one by one. With support from their coach and accountability from their peers, they make steady progress on high-impact tasks. Today, you’re expected to move beyond checking things off your to-do list to making progress on tasks that drive business growth.
When property volumes are low, agent retention isn’t just about keeping agents on the payroll. It’s about keeping agents engaged, motivated and ready to succeed. A multi-pronged approach that leverages technology, offers luxury experiences, fosters a supportive culture and prioritizes growth can help agents not only survive a tough market, but thrive in it. In luxury real estate, retention is a long-term strategy that pays off in the form of stronger teams, better relationships and ultimately more success.
Chris PollingerFounder and Managing Partner of RE Luxe Leaderis a strategic advisor to the elite of the luxury real estate industry, a national speaker, consultant and leadership coach.
