Recruiting and Retaining Younger Agents: 6 Tips for Success

Agents are on the hunt for greener pastures, according to the NAR. A full third of Realtors started at a new brokerage in 2015--up a whopping 67 percent from the previous year.

So why are agents moving? It may have something to do with changing Realtor demographics. Just a few years ago, much talk revolved around the dangers of agents "aging out" of the industry with few younger agents available to replace them. In fact, recruiting younger agents was brokers' top concern in 2013, according to that year's Thought Leader Survey from Imprev.

However, the average age of Realtors has decreased every year since 2013 as younger agents enter the industry. The amount of Millennials getting their real estate licenses has likewise increased. But this is a generation notoriously known for "job hopping." So what can brokers do to recruit and retain this group of agents? Here are a few tips that can help:

1. Use effective lead management systems - 'Closing more deals' or 'getting better leads' often tops the list of reasons that agents switch brokerages. When recruiting agents, talk about the lead generation systems you use and how you help agents nurture and convert those leads. What methods do you use--social media advertising, retargeting, search portal marketing, etc.--and how easy are they for agents to leverage? Be ready to offer hard numbers on how many leads can agents expect per month from your systems.

2. Talk lead quality - Quality of leads is arguably more important than quantity. No agent wants to waste time on leads that are unlikely to convert. So in addition to talking about what systems you use, talk about why. If you, say, advertise on realtor.com® instead zillow.com, tell potential recruits it's because realtor.com® leads are significantly more likely to convert than leads from other portals, according to PAA Research.