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n 2024, a significant number of active agents switched brokerages, with 13% making the move, according to a new report from Recruiting Insight. The median agent who changed firms brought in $3 million in sales volume, highlighting the value of top-producing agents and the financial impact on brokerages when they leave.

    The report's author, Mark Johnson, emphasizes that brokerages must prioritize attracting and retaining talent to survive in today's market. "Lead or bleed" is the choice facing brokerages, with those serious about growth needing to invest in a strong attraction and talent acquisition program.

    To reduce agent churn, brokerages can focus on eight key factors:

    1. Lead with clarity and conviction by articulating a clear vision and providing proficient management.

    2. Lower the risk for incoming agents by offering support and making the onboarding process seamless.

    3. Carve out a niche that sets your brokerage apart from others, such as specializing in certain types of properties or having a strong brand awareness.

    4. Identify why agents are leaving and address any pain points through exit interviews and feedback.

    5. Demonstrate a commitment to agent growth by investing in advanced training, mentorship, and cutting-edge tools.

    6. Create a positive company culture that fosters teamwork, collaboration, and mutual respect.

    7. Talk tech by providing access to the latest tools and platforms that help agents succeed.

    8. Don't be stingy with compensation, including bonuses, benefits, and access to leads.

    By understanding these factors and addressing them, brokerages can reduce agent churn and stay competitive in a slow real estate market and uncertain economic climate.