The pandemic ushered in a whole host of global challenges, but we can’t argue that it didn’t have some positive impacts — notably, for real estate agencies and brokerages.

With more people working from home, buyer demand became unusually hot, leading to longer house searches and prolonged bidding wars.

While demand has slowed down a bit due to higher mortgage rates and a growing deficit in the housing supply, economists believe that a large number of buyers are still looking for homes this summer. Which means that the need for a good real estate agent is stronger than ever — and that many real estate agencies and brokerages are looking for more experienced agents to add to their teams.

According to the Bureau of Labor Statistics, the employment of real estate agents is likely to grow by 4% from 2020 to 2030. Meaning, agencies will be looking to bring on a number of new hires in the coming years. And making sure they’re prepared and excited to work with their new firms depends heavily on an amazing onboarding experience.

Across all industries, onboarding is the first chance a business gets to create a positive impression on their new hires, supplying them with everything they need to succeed in their roles and laying the groundwork for a long-lasting employer/employee relationship. For real estate agencies, this means having an onboarding process that gets new agents ready to help their clients buy and sell their homes while also providing enough incentives and support to keep agents with them for a long time to come.

If you have a real estate agency and are looking to level up your own onboarding process, look no further. We’ve compiled a guide (with templates!) of everything you need to facilitate a smooth onboarding experience for your new real estate hires.

👉 Want to see how a real estate brokerage is using Trainual? Check out Realty Group's experience.

Rule #1: Don’t skimp on the intro

Every great first impression starts with an introduction. And when it comes to your agency, that means detailing who you are, why you do what you do, and how your culture and core values make you different from the other firms out there.

Admittedly, this might be information you’ve shared with your new hire in the recruiting process (and if you need a template for that, look no further), but when it comes to onboarding, it’s important to provide easily accessible information that they can refer to when they need it.

You’ll also want to set expectations for your new agents — everything from their qualifications (like their work experience, sales skills, and interpersonal communication, just to name a few) to how they’ll present themselves as a representative of your company.

Finally, you’ll want to establish your promises to your new agents. “One aspect of the value proposition that brokerages offer agents is financial,” shared Dr. Laura Sims, systems consultant with Kathleen Metcalf, a coaching firm that works with real estate agents and administrative professionals. “There are other, less easily quantifiable advantages, including administrative leverage, access to tech and training, mentorship, community and camaraderie, which can be equally or more important to consider when deciding what team or brokerage to join.”

So, the commission splits, your benefits, your network — your agents need to know exactly what they’re getting from you so that there’s never a question as to the incentives they’re due for their hard work.

Commission Splits

Most real estate agents work on commission. The average brokerage commission rate in the U.S. falls between 2% and 3%, depending on factors such as location, type of home, and price.

Brokerages pay their agents in one of two ways:

1. Split commission: the brokerage will invest up-front for fees like errors and omissions insurance and marketing materials. The percentage split is set by each independent brokerage, but will typically cap out at 85%-15% for high-performing agents. ‍
2. 100% commission: the agent gets the full commission but has to pay the additional fees themselves.

A brokerage’s commission split structure is one of the strongest factors in recruiting and retaining agents. “Since agents are great at crunching the numbers and negotiating deals, they are often drawn to the most competitive offer in terms of percentages and commission splits,” Laura said.

Meaning, you should keep track of what other real estate agencies in your area are offering commission-wise — that way, if necessary, you can alter your own commission structure to stay competitive.

Benefits

The benefits your brokerage offers will depend on the type of commission split you offer your agents. For brokerages that offer a split commission, regular benefits will include MLS, insurance, and advertising material. Some may also reduce agent commission to offer benefits like health insurance, a 401K investment plan, and parental leave. Other brokerages might even offer their agents a salary structure that covers these major benefits.

Most brokerages, however, are too small to cover the huge overhead expenses that can come with these types of benefits. If you fall into that category, you can still offer some unique benefits to entice prospective agents, such as:

• Access to CRM software.
• End-of-year cash bonuses.
• Payment toward an agent’s continuing education costs.
• Career advancement plans with increased commission rates.

Network

As important as benefits and commissions are to prospective agents, your network can also be a major factor in your recruitment.

For example, having a great transaction coordinator on your team is going to make your agent’s job much easier. Or maybe you have a lot of experienced real estate agents on your team with different specialties — having a mentorship program for newer real estate agents can make your brokerage a much hotter prospect for job seekers.

How to handle agent preboarding

Call it paperwork, call it HR stuff — agent preboarding is the crucial first step to your agent’s career with your company.

First things first: their real estate license. If your new agent is coming to you from another brokerage, you’ll need to take them through the process of transferring their license from their previous broker to you. It could be as simple as getting in contact with your state’s licensing control office, but the process will depend on where your company is located. There are even more steps if your new hire is coming to you from another state, so check your area’s real estate licensing laws.

Next up, you’ll want to help your new agents update their brand material. From their headshots and personal logos to their agent bios, these materials are how agents connect with prospective clients. It’s not enough to upload whatever they used at a previous firm — you want to make sure everything is polished, up-to-date, and branded according to your company’s style.

Once their brand material is ready to go, they can use it to update their social media accounts, real estate portals, and online profiles.

But if you really want to make an impact on your new agents, don’t just give them a checklist to complete and send them on their merry way. The idea is to make this process as simple for them as possible.

Instead, provide step-by-step instructions on how they can transfer their license; if they’re coming from another state, give them resources to help them study for their real estate exam.

When it comes to their brand materials, you could provide references to a photographer that can help them with new headshots. And if they’re having trouble with their agent bio, templates are a quick and easy way to get them started.

(Check out this template for all your agent preboarding needs.)

Addressing tools and training

Every real estate agency and brokerage operates differently. They use different CRM software, have unique lead generation and prospecting tools, and even operate open houses in their own distinct manners. Meaning, your new hires need to know how to operate within your business.

“Agents on most teams are given a lot of leeway to prospect in ways that work best for them and to use the scripts that feel most natural to them,” shared Laura. “But some of the major learning curves include learning how to be an ambassador to the brand and the standards and expectations that come with that.”

And that means your onboarding process needs to include training in everything your real estate agent will be working on in their role. Because even your most experienced new hires need to learn how your business uniquely operates.

Here’s a list of some of the topics you’ll need to cover in your training:

• CRM.
• MLS.
• Lead generation and prospecting.
• Buyer-broker agreements.
• Open houses.
• Negotiating.
• Closing.

For the strongest onboarding experience, the training portion should include a healthy mix of asynchronous and synchronous learning. Your new agents should have access to these training materials in one comprehensive platform (cough, Trainual, cough) so that they can go back and study as needed. They should also have opportunities to shadow your current team members to get a better understanding of how they can best apply your company’s practices.

Your real estate agents should come through the onboarding process having learned everything they need to do their job, knowing where they can access that information when needed, and feeling supported by your company.

🔥 Tip: Want to build an onboarding process that your agents will love? Book a demo and try Trainual for free.