Good Luck Recruiting: Fewer Real Estate Agents Say They’re Willing to Change Brands
2023 Agent Priority Report reveals sentiments and expectations driving the state of agent satisfaction in 2023
Coldwell Banker Real Estate LLC, an AnywhereSM (NYSE: HOUS) brand, has announced the results from its annual “Agent Priority Report,” which found that the majority of agents surveyed say staying that they are staying where they are, potentially creating a new recruiting challenge for brokerages. Conducted by Quester Research, the report surveyed the Coldwell Banker-affiliated and non-affiliated agents to gauge how they are feeling about today’s real estate market, their priorities and their views on the industry’s leading real estate brands.
Fewer agents say they are willing to change affiliation
Agents are sticking to their brand, with survey results showing that across brands, a significant number of respondents are less willing to change brand affiliation. In fact, compared to 51% in 2019, 75% of agents surveyed in 2023 say they will not change affiliation in the next two years.
Agents want top-of-the-line resources and experiences
- 95% of respondents agreed that best-in-class service to customers is the most important brand attribute.
- The power of brand image marketing to bolster an agent’s business, more tech and tools to enhance an agent’s overall experience and value proposition, and more leads are the top items agents are looking for in 2023
Coldwell Banker remains the #1 leading brand in agent trust
When asked which traits best describe companies, Coldwell Banker reigns as the most trusted, consistent with previous years’ survey results. With its reputation for integrity, best in-class services, a suite of robust technology and tools to navigate the current market, and an international network of talented agents and real estate professionals to learn from, Coldwell Banker continues to invest in the success of its affiliated agents and serve as a guiding light.
QUOTES:
“Amid economic headwinds, it’s no surprise agents are reticent to move. However, agents should remain open to the opportunities a more established brokerage can offer including award winning and powerful branding that is not only recognizable worldwide but is also customizable to appeal to their market area, international and domestic networking opportunities, and resources to grow their business like the Coldwell Banker Listing Concierge program, which provides white glove branded marketing for listings. A strong brokerage can help agents weather any storm.
Real estate agents are committed to helping their clients find their dream home and expect prime resources and services from their brand. The findings in the Agent Priority Report confirm that Coldwell Banker is succeeding in providing agents with what they want most: a deep level of caring within its culture, personalized solutions including desired powerful marketing resources, full service and perhaps most important, integrity.”
- Liz Gehringer, president and CEO of Anywhere Franchise Brands, and acting president of affiliate business and COO of Coldwell Banker Real Estate
Survey Methodology
Coldwell Banker Real Estate LLC commissioned Quester Research to survey 1,322 agents between November and December of 2022 including 604 Coldwell Banker affiliated agents, 534 non-Coldwell Banker agents in various MLS’ and 184 agents from Compass and eXp*.
*These results were acquired separately and not part of the national sample in order to have a material sample size.
Athena Snow
Senior Manager, Public Relations & Giving for Coldwell Banker. Grew up in Sarasota and attended college at Western Carolina University. Athena wanted to wake up in that city that doesn’t sleep so headed to Madison Avenue to start her marketing career. She has been with this awesome brand for more than 15 years and can be found generating buzz about CB in every way possible. Athena helps to grow the brand’s position as the most storied real estate company within the industry and has led many high-profile endeavors; she was at the forefront of the brand’s pioneering smart home campaign, raised $6 million in two years to build 130 Habitat for Humanity homes, and led the Homes for Dogs program in partnership with Adopt-a-Pet.com that resulted in tens-of-thousands of dogs finding their furever home. She currently leads the CB Supports St. Jude program, which encourages the Coldwell Banker network’s 96,000+ real estate agents to make donations to St. Jude’s Children’s Research Hospital for every real estate transaction they represent. In her spare time, you can find her either digging up a new area in her yard for another flower bed or planning her next travel adventure. She's the proud mom of three cats Jolene, Ziggy and Lucy.
