DOSS: A “VIRTUAL BROKERAGE” is not ideal for most Agents!

In the mid 90’s, I remember sitting in graduate school at Troy University in Alabama when I understood that there are four different predominant learning styles:? Visual, Auditory, Read/Write, and Kinesthetic. I was getting my first Masters Degree in Special Education. I learned that the average American reads at a 7th- to 8th-grade level, according to The Literacy Project. And, that approximately 130 million adults in the United States have low literacy skills. Literacy is broadly defined as the ability to read and write, but it more accurately encompasses the comprehension, evaluation and utilization of information, which is why people describe many different types of literacy — such as health, financial, legal, etc. Furthermore, low literacy skills can profoundly affect the day-to-day success of most adults in the real world.?

You may be wondering “What does all of this have to do with Agents, Real Estate, and Virtual Brokerages?” My answer is, “It has everything to do with the low barrier of entry, why most Agents fail, and why that failure rate is even more likely at a Virtual Brokerage.” Historically and statistically, it is not easy being a REALTOR?. With that said, these same adults with low literacy skills are entering the real estate industry, and although they are receiving a real estate license they are still failing at a staggering rate. Actually, it was mentioned a few years ago that 87% of Agents fail within their first five years of entering the business. But why? Is it totally the Agents fault that they fail at this business? What role does the average Brokerage play in an Agent's failure to succeed? Is the industry ready to dissect this question, with the possibility of finding out that it also might share more of the blame for Agents failing, than it’s ready to admit? What do you believe, and why??

As I continue to paint this vivid picture, let's circle back to the different learning styles. It’s very important that we understand why most Agents fail and why Virtual Brokerages would only increase that failure rate.? Most people throughout the country are kinesthetic learners. This population of people prefer to be taught in a concrete way with real life examples and exploration. They learn best through all of their senses. A person with a kinesthetic learning preference will want to physically show or demonstrate their learning. Meaning, a kinesthetic learner would rather perform physical activity to learn something, as an active participant, instead of passively listening to a lecture or watching(including virtually) a demonstration. That’s why the best way to learn something for kinesthetic learners is by having a hands-on experience when it comes to learning. Why do we think learning the real estate business defies these facts? Understanding that most people are kinesthetic learners, why do we believe that a Virtual Brokerage is the best environment to foster the development of most Agents??

In addition to understanding that most people are kinesthetic learners, there are other factors that support why most Agents should reconsider joining a Virtual Brokerage. First, virtual work can be isolating, leading to decreased collaboration and potential communication issues among team members. Second, there may be a lack of access to important resources or equipment that would be readily available in a physical office. Third, virtual work may present challenges in terms of maintaining a consistent work-life balance, as the boundaries between work and home life can become blurred. Fourth, real estate is a highly competitive industry, and virtual work may make it harder to build the personal connections and relationships that are important in the field. In other words, most Agents were already failing in the “traditional” office model. Why do we think that by isolating people, removing the possibility of in-person coworker connections, and the total absence of a thriving office culture that a Virtual Brokerage will increase an Agent's productivity??

The idea that most real estate agents would be a good fit for a Virtual Brokerage is about 10 to 15 years too early. The average Agent throughout the country is currently 55 years old, born around 1968. Education was different at that time. There was no internet or online learning that evolved or shaped their learning style. Because most people are currently kinesthetic learners, Agents today need and want someone to personally sit down with them to explain things in fear of making a costly mistake in a now very litigious world. However, the first generation born after the internet was founded and also impacted by a worldwide pandemic that shut down schools and businesses, Gen Z may be the generation who will be more prepared and desire a virtual world that doesn’t care for as much human connection and interaction as their predecessors. Until then, Agents should seek a Brokerage that compliments their learning style to increase their chances of success.?

In the pursuit of selecting the best Brokerage for your business, do you know your learning style?

DOSS: BETTER. FASTER. SMARTER.