Who would have thought 10 years ago that we’d be touring open houses through virtual reality, making offers online, or signing contracts with the swipe of a smartphone? While no one can argue that the ways in which brokerages do business have evolved dramatically, one thing has remained constant in the Canadian real estate industry: the role human relationships will continue to play in transactions that previously only occurred face-to-face.
Buying or selling a home is often a deeply emotional experience – and at the heart of it lies the kind of trust that can only be nurtured through strong relationships. While buyers have never before in history been so empowered in this new era of smart real estate, those agents who work for you have also never had so many options. And surveys show they plan to exercise them in record numbers: Almost 20% of Canadian workers have said they plan to quit their current job within the next 12 months, according to a January 2022 Bank of Canada survey.
In this new worker’s economy, real estate brokers will need to adapt quickly if they want to attract new talent and keep them engaged in building and nurturing relationships, especially millennials and Gen Z. To reduce turnover, brokerage leaders must differentiate themselves from the competition with a compelling brand, give staff the tools they need to excel and demonstrate how what they do for a living contributes to their communities in meaningful ways.
From building a positive work culture to facilitating ongoing learning opportunities, this series breaks down four key areas for real estate brokerages to consider in attracting – and keeping – top talent in 2022, and beyond.
“If there’s anything that we’ve learned over the pandemic, it’s that we really need to take care of each other. That’s what this business is all about – human connection and human experience.” – Justin Havre, Havre & Associates, Re/Max First
1. Building a brand for your brokerage
Building an effective brand for your brokerage involves harnessing not just the power of technology to tell your story, but also your employees to help spread the word. While video, social media and your website are all essential parts of your tool kit, so too is your openness to refining your brand to stay relevant in changing times. Read the article here.
2. Building a culture for your real estate business
Behind every successful brokerage is a vibrant and dynamic culture that engages their employees and gives them a sense of belonging and contribution. You can achieve this by making your culture a business priority, measuring it regularly through team feedback, and showing leadership in reinforcing and embodying company values. Read the article here.
3. Training and development for your real estate agents
Offering ongoing career development opportunities can attract and retain talent in a competitive market, while also contributing to workplace culture and boosting your company brand. Negotiation, social media and building personal brand awareness are among the essential skills in every successful real estate agent’s tool kit. Read the article here.
4. Tools and trends for real estate teams
The Covid-19 pandemic accelerated the use of technology in real estate transactions even further and ushered in a new era of smart real estate. To stay competitive, your agents need access to the latest digital tools such as the use of video for virtual tours, online moving concierges and other PropTech innovations. Read the article here.
This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgement of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by RBC Ventures Inc. or its affiliates.
