ANNUAL REPORT REVEALS AGENT SENTIMENT AND RANKS THEIR PRIORITIES
Coldwell Banker Real Estate ranked higher than any other brand in agent satisfaction
MADISON, N.J., May 2, 2022 /PRNewswire/ -- Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) company, today announced the results of its annual agent priority report, conducted by Quester among agents and brokers across top national real estate brands to keep a finger on the pulse of what real estate professionals value in their careers. In a time when the Great Resignation has posed a threat to many American workplaces, and competition for exceptional agent talent is substantial, the real estate industry may not be experiencing an exodus of current sales agents. The report's findings reveal that agent priorities among the real estate brokerage community are now more important than ever.
Real estate is a desirable profession.
- Citing work/life balance, increased income and gratitude for having a job, 60% of agents surveyed say the pandemic has had no impact on their future career plans as an agent, and about 25% say it has made them more interested in remaining an agent.
- For the third time, Coldwell Banker Real Estate ranked #1 in agent satisfaction. Coldwell Banker agents surveyed said they were extremely or very likely to recommend their current company to another agent.
No need to leave.
A hot market makes for happy agents, with only 9% of all surveyed agents across all brands reporting that they plan to switch affiliation this year (vs. 20% in 2020).
- What matters most among agents open to affiliating with Coldwell Banker?
- Leading edge tech & tools: 98%
- A strong brand image: 97%
- Best equipped to navigate future of real estate: 97%
- Most knowledgeable agents: 96%
- Local expertise: 94%
- Recognized by buyers/sellers: 93%
- Coldwell Banker affiliated agents are less likely to change affiliation in the next two years than any other company's agents according to survey results.
- Agent Affinity is Growing: Agents affiliated with the Coldwell Banker brand are less likely to change affiliation in the next two years than any other company's agents.
- Gold Star Opinion: Agents' opinion of the Coldwell Banker brand is higher than any other real estate brand.
The top reasons for leaving.
- For those agents not affiliated with Coldwell Banker who chose to leave their company, numerous factors were at play. According to the survey, reasons why agents who were not affiliated with Coldwell Banker left their previous brand included:
- Commission: 46%
- Referrals/Leads: 40%
- Team Support: 36%
- Better Tools: 31%
- Better Training: 27%
- Culture: 25%
- Local reputation: 20%
Brand reputation is key.
Real estate brands have more competition than ever to retain and attract their top talent. A notable brand reputation will prevail, as most agents agree that their company's reputation is important to their business success. This sentiment is believed even more fervently among Coldwell Banker affiliated agents.
Coldwell Banker brand tools and network support are unmatched, and affiliated agents surveyed have a lot to say about their experiences:
"People trust the Coldwell Banker brand, and I get referrals because I work there. They also have a lot of training and support for new or busy agents. There are so many apps available, such as Listing Concierge, MOXI and InTouch that help me stand out from other agents."
"Its reputation is unmatched. Everyone recognizes the brand and correlates it to excellence and professionalism," said one Coldwell Banker survey respondent. "I appreciate its reputation and Coldwell Banker has assisted me in my transactions and assisted me in gaining listings."
"The company is very ethical, and the top people are great. They are very responsive to the agents' needs, and the company enjoys a great reputation. My customers and clients realize Coldwell Banker's reputation, so it makes it easy to do business.
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Partner with a meaningful brand. Agents' opinion of the @ColdwellBanker brand is higher than any other #realestate brand, according to our 2022 Agent Priority Report https://blog.coldwellbanker.com/2022-agent-priorities/ #CBProud
QUOTES:
"At Coldwell Banker, we take immense pride in ensuring that the tools, services, and education we provide to our affiliated agents enable them to thrive. This survey, along with our significant recruitment and retention statistics, is confirmation that we are succeeding in our efforts and delivering the value that our agents deserve to build their book of business. They are also confident in knowing that we honor and respect them as individuals and esteemed members of our Coldwell Banker family. We warmly invite all agents to come and explore the power of the Coldwell Banker brand."
- M. Ryan Gorman, CEO of Coldwell Banker Real Estate LLC
"The guidance of our agents is unmatched in the industry, and we are committed to understanding the priorities of real estate agents in order to deliver what matters most to our network. We believe our depth of care, our suite of production-boosting resources and our inspiring culture make Coldwell Banker Real Estate an extraordinary home for real estate professionals. It's a commitment we call the Coldwell Banker Way."
- David Marine, CMO of Coldwell Banker Real Estate LLC
Survey Methodology
This survey was conducted online within the United States by Quester on behalf of Coldwell Banker Real Estate from Q4 2021 – Q1 2022, among 1,405 licensed real estate agents or brokers that work primarily in residential real estate aged 21-75. Quotes provided by affiliated agents are anonymous, but all interviewed consented to having their statements anonymously published.
About Coldwell Banker Real Estate LLC
Powered by its network of over 100,000 affiliated sales professionals in approximately 2,200 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2022 Women's Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.5 million home transactions in 2021. The company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate,CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 196,700 independent sales agents in the U.S. and approximately 136,700 independent sales agents in 118 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for ten consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row and is one of LinkedIn's 2021 Top Companies in the U.S. and honored on the Forbes list of World's Best Employers 2021.
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SOURCE Coldwell Banker Real Estate LLC
