Relitix just dropped the latest Agent Movement Index™ (AMI) for July 2024, and it’s clear that there’s a shift happening in the real estate world. The big news? Real estate agents aren’t moving around as much as they used to. This is important for brokerages to bear in mind as it relates to your recruiting efforts. If you are not seeing the results that you normally see, it’s not just you – it’s an industry wide problem. There are a few companies that are bucking this trend – namely Compass, but also some of the new model brokers with virtual offices and 100% commission splits. 

Here’s the scoop from the July 2024 AMI:

– Agent Growth Stalls: After months of growing numbers of active agents, that trend seems to have hit the brakes. It looks like we’re seeing a plateau now, which might mean it’s getting tougher for new agents to break into the field.  

– Less Agent Movement: Remember when agents were jumping between brokerages like crazy from Fall 2023 to Spring 2024? That’s cooling off now. It seems like agents are hitting pause and taking a more cautious approach.

– NAR’s Commission Rule Changes:  There’s some buzz around the new commission rules from the National Association of Realtors (NAR), and it’s making agents a bit jittery. This uncertainty seems to be making them less likely to make big moves right now.

Rob Keefe, Founder of Relitix, weighed in on the situation: “The July data show a market in flux. After a period of high activity, agents are slowing down, likely because of the recent changes in the industry. Brokerages should keep an eye on these trends and adjust their strategies as needed.”

Last month’s data is a bit of a turn from what we’ve seen before. For instance, June 2024 showed a steady rise in active agents and movement. But then, July’s AMI showed a trailing 12-month score of 98.9, a monthly score of 101.1, and a seasonally adjusted number of 88.3, hinting at a possible shift in the market.

Although brokers may not be seeing the recruiting performance they want, it does not mean that they should not be out there hunting for great agents. WAV Group’s Bondilyn Jolly works with brokerage firms to create their direct outreach to agents and we use tools like Relitix, Trendgraphix, Broker Metrics, and any other tool used by the broker to target the right agents that fit the brand and culture of the firm. Reach out if you need help!