RealTrends Q32021 BrokerPulse sees brokers still optimistic about the market, wary of competition and wondering when inventory will rise.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.’s Sean Black on the transaction revolution

Real estate is on its third revolution, from the digital revolution of the early 2000s to the information revolution kicked off by Trulia and Zillow to today's transaction revolution.


The RealTrends BrokerSource and HousingWire OpenHouse newsletters deliver twice weekly information on trends, strategies, analysis, people, and news shaping the real estate industry.

BrokerageIndustry Contributors

Avoid real estate brokerage turnover with connectedness

Your leadership team, agents and employees need to know that you have a welcoming environment.

Most of us have heard of the “Great Resignation” occurring in the workplace. In the past six months, more than 15 million U.S. workers have left their jobs. All indications are that this is going to accelerate. McKinsey & Company conducted a survey and concluded that 40% more are likely to quit in the next three to six months. Don’t let brokerage turnover impact your business.

Why are they leaving their jobs? Through McKinsey’s research, they have found these top three factors:

  1. They don’t feel valued by their organizations
  2. They don’t feel valued by their manager
  3. They don’t feel a sense of belonging at work

I’m not surprised with No. 1 or No. 2. Everyone wants to feel valued which increases our self-worth. It’s a key driver in building loyalty, morale and productivity. But a sense of belonging is crucial to our life satisfaction, happiness, mental and physical health. People want that feeling of connectedness in the workplace. Isn’t the real estate company environment the ideal place to connect with our peers?

Let’s start with the fact that psychologists rank our need to belong on par with our need for love. If it’s that powerful, then look at this definition of belonging at work:

  1. We are seen for our unique contributions
  2. We are connected to our coworkers
  3. We are supported in our daily work and career growth
  4. We are proud of our organization’s values and purpose

What can the leaders and managers of real estate companies do to foster these feelings? It starts with being responsive, respectful, showing appreciation and providing support.

Here’s a set of actions to take which will increase the sense of belonging in your company and decrease brokerage turnover:

Feeling welcomed

This begins with having a culture of an inclusive organization. It starts on day one when an agent or employee walks in your door. How are you rolling out the red carpet for them?

Feeling Included

It’s important that our ideas and opinions are actively solicited and acted upon so we have the support needed to do our best work. What is your process for engaging feedback and letting people know their ideas and thoughts matter?

Feeling connected

The personal connections are about forming the human bonds that signal we’re part of a community. How do we make our company a place where people feel like they fit in? A company where they enjoy being around each other?

As leaders of real estate organizations, it’s time to send a clear organizational signal that building a culture of belonging is a priority in your company. This will take effort and needs to be cultivated across the organization.  Having a warm, welcoming and inclusive environment will result in high retention and lead to positive results in your recruiting efforts.

Brene Brown, the famous American professor and author wrote, “…belonging is an irreducible need for all people.” Belonging, quite simply, is the language of humanity.

Most Popular Articles

Goldman Sachs: Home prices will rise another 16% in 2022

Home prices may not have reached their peak yet. Not even close. Goldman Sachs economists predict that they’ll rise another 16% by the end of 2022.

Oct 13, 2021 By

Latest Articles

Millennials struggle to compete with boomers for homes

Young people make up a smaller share of recent homebuyers than in previous years, most likely due to the increased market activity of baby boomers, a new Zillow housing market study found.

Oct 15, 2021 By