Source: PR Newswire —
CANTON, Ohio, Feb. 16, 2023 /PRNewswire/ — What are the top five business challenges for real estate broker leaders this year? In a recent Delta Real Estate Leadership Survey of more than 100 individual brokers, who are leading firms collectively responsible for more than 60 percent of all real estate transactions last year, the leaders themselves answered this question.
“Recruiting new agents” was the No. 1 business challenge (63 percent), followed by “reduced profit margins” (48 percent) and “recruiting top producers” (44%). Tied at the No. 5 spot were “agent adoption of your technology” and “finding ways to reduce expenses,” both at 39 percent.
“The more things change, the more they stay the same,” noted Michael Minard, CEO and owner of Delta Media Group, explaining that other independent surveys of real estate broker-owners over the years also show that recruiting and retention topped their business challenges list. “Brokerages recruit and retain agents to survive — and thrive,” he added.
The Delta survey also asked leaders to share their brokerage’s biggest challenge today. “The responses focused on three themes: brokerage profitability, training agents who have not experienced a market shift, and recruiting and retaining agents,” Minard said.
The survey also found:
- Real estate brokerage leaders gave themselves a “C” grade (74%) when asked to assess their training of new sales associates during the pandemic (2020 and 2021).
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