An overwhelming number of real estate Principals that are looking to grow their sales team think if they offer a slightly better commission split, sales agents will flock to their office. Commission splits are generally not the sole reason why someone will leave one office for another; they are a contributing factor to the agent’s decision yes.
So what is it that matters to sales agents when they are looking to jump ship and join a new office?
- Location: An experienced agent will have traction in a particular area, and they will be looking to retain that. Making a move to a new office means they will be seeking the opportunity to continue working the same geographical location with minimal internal competition.
- Noncompeting Principals or Sales managers: The less competition, the better especially from the top.
- Support: Agents are good at listing and selling and not the administration and marketing side. Most agents will self admit to being unorganised when it comes to the administration. Agents will seek out support as a high priority.
- Profile and branding: They will be looking to see how this aligns with their brand or aspirations of where they want to take their sales career.
- Remuneration: This covers commission splits, commission payment terms, desk fees, commission only, debit-credit, base salaries, sales targets, sliding scale commissions etc.
- Professional development: Through access to external coaches, training and mentoring along with internal skills training.
- Culture: From staff turnover, leadership styles, rules around buyers, databases, lead distribution etc. it all makes up your sales culture.
When recruiting sales agents consider all potential factors, they take into consideration when looking for a new office to join as there are a lot of them. Commission splits are important, but not the sole deciding factor.