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Key ROI Drivers of Skilled Real Estate Agents
According to the US Bureau of Labor Statistics, the median annual salary for real estate agents was $54,300 in 2023. Real estate commissions for residential properties usually average between 5% and 6%, and most brokerages take a 50% cut of the commission (or 2.5% of the total sale price).
At these rates, each agent only has to close five transactions per year for your brokerage to make back their salary. However, salaries, property values, and commission rates can vary, and experienced agents have the potential to drive even more return on investment (ROI).
Here’s how skilled real estate agents can drive revenue for your business.
Find top real estate talent
Increased Client Satisfaction
Experienced real estate agents have strong customer service skills, which help them create an outstanding experience for clients. They communicate proactively throughout the transaction process and provide personalized, thoughtful recommendations.
When clients have positive experiences, they’re more likely to return to your brokerage for future real estate needs. Satisfied clients are also more likely to recommend you to their friends and contacts, drawing in new business.
Higher Transaction Volumes
With time and experience, real estate agents develop the negotiation and organizational skills to close deals quickly. This results in more transactions closed each year, boosting revenue for your business.
Improved Team Performance
Working for a brokerage makes it easy for real estate agents to collaborate, combining their skills and experience to close deals. When you hire a particularly skilled real estate agent, their knowledge and experience can boost morale and productivity across the entire team. They can even serve as a mentor for more junior members of your team, passing their knowledge on to the next generation of real estate agents.
Strengthened Reputation
Hiring trusted agents can help strengthen your brokerage’s reputation and build your employer brand. With strong communication and problem-solving skills, they provide an excellent experience for everyone involved in the real estate transaction, including buyers, sellers, other agents, lenders, and inspectors.
Over time, these positive experiences boost your brokerage’s reputation. Glowing online reviews and word-of-mouth testimonials can attract more clients and deals to your real estate firm.
How Wizehire Helps With Real Estate Hiring
Wizehire has the tools you need to find talented and dependable real estate agents for your brokerage. These include:
- Job description templates: We offer real estate agent job description templates to help your listing stand out. You can customize the template to reflect your brokerage’s unique needs.
- Personality assessments: Our DISC+ assessment provides insights into each applicant’s personality and skill set, helping you find the perfect fit.
Applicants that fit the real estate agent DISC+ profile will have strong problem-solving and social skills, as well as flexibility to adapt to different environments.
- Expert hiring coaches: We’ll match you with an expert coach with real estate industry experience to guide you through the process.
- Applicant tracking tools: Our applicant tracking software helps you post job listings, keep applications organized, and schedule interviews to hire more efficiently and ensure that great candidates don’t fall under the radar.
- Onboarding support: When you’re ready to hire, Wizehire provides onboarding support so your new agents can hit the ground running.
Wizehire serves as your partner in real estate recruiting, helping you find agents with the experience and skill set to take your agency to the next level.
Wize Words
Talented real estate agents drive revenue for your brokerage by facilitating deals and providing a standout client experience. Attracting top agents helps your brokerage stand out in a competitive real estate market.
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