121QA Identifies What Drives Brokerage Loyalty & Recruitment

RE/MAX Integra learned through an IPSOS research study that while their agents were loyal to the RE/MAX brand they were disinclined to recommend their brokerage to other agents.

RE/MAX Integra used 121QA to investigate the problem

At the time, Integra included 286 franchise brokers, 362 offices and 9,384 agents.

Twenty brokers volunteered to survey their agents. Survey invitations were sent to 2,150 agents in 47 offices. Hard statistical data on agent loyalty and service quality was collected from a sample of 1,346 completed surveys.

Correlation and regression analysis determined which aspects of service drove agent loyalty and recommendation. RE/MAX Integra subsequently surveyed 19 of their US brokerages. The results were identical.

Brokerages With High Referral Scores Shared 4 Traits:

1.

Three quarters of agents were satisfied:  mean scores were greater than 5.70 out of 7.
All brokerages met and exceeded the three basic agent expectations:  accurate paperwork, prompt payment and management readiness to help when asked.

2.

All brokerages had extremely high retention scores:  6.11 out of 7.
Up-to-date facilities, current technology, confidence in the brokerage’s ability to solve problems and the belief that their interests came first all contributed to agents lack of interest in looking for greener pastures.

3.

The fastest growing brokerages had referral scores greater than 6.09.
These offices had better processes, more responsive staff and the ability to meet service expectations in a timely fashion.

4.

High scores on referral came with one big caveat:
agents didn’t recommend older or tired offices that might reflect poorly on them. First impressions hold significant weight with new and younger recruits.

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