ERA doesn’t experience a high turnover ratio of agents like other agencies do. Most agents that leave ERA retire. These long-term relationships offer several mutual benefits for both the agent and the company:
- Established Clientele: Over time, real estate agents build relationships and a network of clients. Staying with the same company allows them to nurture these connections and provide consistent service to their existing clientele. A stable client base can lead to repeat business and referrals.
- Market Knowledge: Long-term agents develop extensive knowledge of the local real estate market. This expertise is invaluable for the company, as it contributes to better decision-making, pricing strategies, and market positioning. Additionally, agents can share their insights with other team members, further enhancing the company's overall performance.
- Team Cohesion: Long-term agents are likely to be familiar with their colleagues and the company's culture. This familiarity can lead to a more cohesive and harmonious team, resulting in improved collaboration and efficiency.
- Client Trust: Long-term agents often gain the trust of their clients through years of reliable service. Trust is a critical factor in the real estate industry, and clients are more likely to choose an agent they feel comfortable with and have a history of successful transactions.
- Innovation and Improvement: Agents who stay with a company for the long term are invested in its success. They may contribute ideas for improvement and innovation, leading to better practices to help clients.
- Stability and Reputation: A real estate company with a consistent roster of long-term agents conveys stability and reliability to clients and partners. This leads to more significant opportunities and a positive reputation within the industry.
Long-term agent retention result in a stronger and more reputable real estate organization, which in turn, attracts more clients and talent, creating a virtuous cycle of success. This is at the core of how ERA has consciously decided to run its agency, it is a WIN for all involved.