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Real estate and mortgage leaders wake up to challenges daily — often the same ones, over and over, in a Groundhog Day cycle of low inventory, high mortgage rates and, more recently, lawsuits threatening to upend old practices.
Wash, rinse, repeat.
But long-haul leaders have their eyes on the horizon, too, and new data suggest a future concern is growing out of today’s tumult.
- Approximately 28 percent of brokerage leaders who responded to January’s Inman Intel Index predict “recruiting and retaining talent” will be the most challenging part of their business one year from now.
That mark was the highest measured by the Inman Intel Index, also known as the Triple-I, since this flagship survey was unveiled in September. The same response choice had not previously cracked 24 percent. January was also the first time “recruiting and retaining talent” led all concerns as brokerage leaders look to the year ahead.
For this reason, Intel is planning a deeply reported series on the topic of recruiting in the weeks to come. The series — which will run in early April — will be based on detailed questions that will be part of the March Triple-I and conversations with experts in the field.
But in the meantime, read the full report below to learn why so many real estate leaders see recruiting as a matter of such pivotal importance in the year to come.
War of attrition
For several reasons, 2024 could be among the most competitive recruiting cycles in years.
One potentially cuts both ways: Housing headwinds keep shrinking the ranks of both agents and loan officers. Company owners are metaphorically defending the home front while having less talent to target outside their walls.
This is because, to some degree, the departures in…