Real estate groups with a strong focus on training and career progression will enjoy a lower staff turnover rate during a flat market, according to RE/MAX Western Australia.
Last week, the Real Estate Institute of Australia revealed more than 10,000 agents had left the profession over the last 12 months.
But despite this massive drop, RE/MAX WA has managed to maintain and even grow its staff number in the past year, according to the company’s managing director Geoff Baldwin.
Mr Baldwin said providing new recruits, established salespeople and franchisees with training and systems that are simple to use will result in fewer turnovers and allow agents to remain prosperous in a challenging market.
“The increasingly tough market experienced over the past few years has seen more and more real estate agents and salespeople leave the industry because they have been unable to make sufficient income to survive and the main cause of this inability to adjust to the market is a lack of training and coaching,” he said.
“Around 65 per cent of current salespeople have been in the industry for less than 8 years and have never experienced the harsh market conditions we have now where the highest levels of skills and professionalism are essential to achieving results.”
Mr Baldwin said vendors will increasingly look to use agents with sound education and training.
“Throughout the boom years up till 2007, with prices continually rising, it was simply a matter of listing the property and waiting for the buyers to come along and make offer and even if a property was overpriced, it was not long before the market increased enough to achieve a sale,” he said.
“Sellers should now be looking critically at the skills, experience, team support and results of agents before they choose one to sell their property. Hence all agents who wish to prosper in this market have a responsibility to continually lift their skills.”