Every month, Kate Teves, HR consultant, recruiter and founder of The HR Pro, answers Realtors’ questions about anything and everything related to human resources. Have a question for Kate? Send us an email, or leave a comment below! 

Question: Dear Kate, what’s the secret to running a truly successful brokerage?

Kate: I often get asked a version of this question by both aspiring real estate professionals and broker-owners and although we know there is no singular trait/role that works for all, one trend has become crystal clear: brokerages and teams that invest in an agent success manager (ASM) consistently outperform those that don’t. 

Recruitment, retention, reputation, and true agent success—all see measurable improvements and in this industry, measurable improvements are as coveted as a prime waterfront listing.

 

How does this impact the broker of record role?

 

While it was widely accepted that the broker of record (BoR) must be an equal parts compliance officer, on-demand agent support, marketing manager, business development guru and mentor,  it is seldom possible for one person to be excellent at all things at once.  

The emergence of the ASM role allows a BoR to truly focus on traditional responsibilities of overseeing all transactions within a brokerage, ensuring adherence to legal standards and supervising agents to maintain ethical conduct—safeguarding both client interests and the brokerage’s integrity. 

With the advancement of technology and a focus on agent-centric models, the ASM role has been quickly gaining prominence from coast to coast. ASMs act as primary points of contact for agents, providing support, training, and resources to enhance agent performance and client satisfaction. 

Their responsibilities often include:

• Building relationships: Developing strong personal connections with agents to understand their needs and goals.
  • Curating a personalized plan for each agent based on their strengths and existing circle of influence.
• Providing real-time support: Offering immediate assistance to agents, ensuring they can effectively serve their clients by reviewing contracts and offers, supporting with clause writing, and assisting during negotiations.
• Leveraging technology: Helping agents utilize the latest tools and platforms to streamline transactions and marketing efforts. 
  • Training them on the benefits of using a CRM
• Mentorship:  conducting live and online training on ever-changing documents, regulations and best business practices.
• Accountability:  An ASM often acts as an accountability partner by having consistent meetings with the agent and keeping their finger on the pulse of their individual business.

 

Recruitment: First impressions matter (and last)

 

If you know me personally you would have heard me say this often, “Recruitment is like dating—it’s about making a great first impression but then also having the substance to maintain the relationship.” 

In brokerages with ASMs, candidates are wooed by the promise of ongoing mentorship, personalized support, and a clear path to achieving their goals. This isn’t just anecdotal. According to a 2023 survey by the Canadian Real Estate Association (CREA), brokerages offering structured mentorship programs—often led by ASMs—reported a 22 per cent increase in applications from top-tier agents compared to those that did not.

Without an ASM, recruitment often feels like speed dating: quick, chaotic, and with little follow-up. Agents might join, but without someone dedicated to onboarding and goal-setting, they’re more likely to look for other options within a year.

 

Retention: Keeping the band together

 

Retention is where the rubber meets the road. Real estate has one of the highest turnover rates of any industry, with the average agent switching brokerages every three to five years. However, brokerages with ASMs flip the script. By providing consistent coaching, recognizing achievements, and offering solutions to day-to-day challenges, these brokerages see turnover rates drop by up to 40 per cent.

Let’s face it: no one likes feeling like just another cog in the machine. An ASM ensures agents feel valued and supported, which translates to loyalty. Think of it like having a gym buddy—you’re far less likely to skip leg day (or, in this case, switch brokerages) when someone’s cheering you on.

 

Reputation: Word gets around

 

In business, reputation is everything. Brokerages with ASMs gain a reputation as places where agents thrive. CREA’s 2022 report noted that brokerages with dedicated agent support roles are 35 per cent more likely to be recommended by their agents to peers and isn’t that ultimately the best compliment and the easiest way to grow?

Contrast that with brokerages without ASMs. Agents in these environments often describe feeling adrift, which inevitably finds its way into conversations—and not the good kind. One agent’s frustration at a networking event can snowball into a reputation problem that’s harder to fix than a deal that’s fallen through.

 

True agent success: Beyond transactions

 

Finally, let’s talk about what really matters—agent success. Brokerages with ASMs don’t just focus on helping agents close deals; they focus on helping agents build careers. This holistic approach includes goal-setting, skill-building, and even work-life balance (yes, even real estate agents need balance).

The numbers speak for themselves: brokerages with ASMs see an average 15 per cent increase in agent earnings within the first year, according to a 2023 study by the Ontario Real Estate Association (OREA). Agents are more confident, productive, and satisfied—and it shows in their results.

So if you are an agent looking for your next brokerage, look for one that invested in a role to dedicate to your success.  If you are a brokerage or team leader pondering whether to invest in an ASM, the answer is clear. Your recruitment numbers will thank you. Your retention rates will applaud you. Your reputation will shine. And most importantly, your agents will thrive.