Agents change real estate companies. This happened before the coronavirus. However, today, while some agents are staying with smaller brokers, other agents are intentionally selecting larger brokers, in hope that the larger broker can survive the current real estate market decline due to the coronavirus.
New Agents Cost Around $1,000
The cost to get new agents onboard, including training, support and leads, cost large brokers around $1,000 per agent.
No Perks Provided
Before the corona virus pandemic, real estate brokers offered a number of perks to recruit real estate agents. Today, none to very few perks are provided. In the past perks included sign-on bonus, a laptop computer, and even covering a certain amount of expenses.
However, today there are layoffs at both large and small brokerages; and some brokerages are closing.
Real estate brokers and agents, that have been in the business for quite a while, say that the key is to stay in contact with your clients; keep everyone informed of progress and changes; and you got to get creative on getting new business.