Real estate agent onboarding tools are powerful assets for brokers looking to attract and retain top talent, yet these tools don’t come cheap – their cost can range anywhere from $500 to $10,000 per month, depending on its complexity and features.

According to the 2018 Imprev Thought Leader Study, recruiting and retaining new agents is one of the key challenges facing brokerages today. Three out of every ten agents fail within their first year while eighty seven percent leave within five years due to poor onboarding processes – yet measures exist that ensure an easier onboarding experience so agents can get up and running quicker.

Onboarding requires that a new agent learn all of the essentials of running their own business, from marketing setup and tech tools to financials. All tasks need to be documented so that brokerages can clearly see which tasks have been completed by each agent and which remain undone; many brokerages create agent onboarding checklists with back office software as a means to do this.

Back office software enables brokerages to easily create agent profiles that store all documents and tasks for each agent in an organized digital space, making it easy for the brokerage to monitor an agent’s progress while assuring they have all of their paperwork up-to-date.

Brokerages can use this platform to automate their processes and increase efficiency, such as by setting up a workflow that checks for documents needed before sending out listing agreements to clients – saving both time and making the experience smoother for both sides. They may even integrate this platform with third-party apps they rely on daily such as DotLoop for transaction management or Gusto for payroll/human resources services.

Back office software also offers visibility and transparency, giving brokerages an easier way to monitor any errors that arise during onboarding processes and quickly rectify them before they become more serious. For example, they could easily see that an agent hasn’t uploaded their photo or completed certain compliance documents, saving both parties much hassle down the line.

An efficient onboarding process can also reduce stress among agents as they begin their careers. Too often, agents feel thrown into the fire without adequate guidance or tools needed for success – it is therefore imperative that brokerages dedicate enough resources and take care to onboard agents properly so they are well equipped for success in their careers.

With an effective onboarding process in place, brokers can reduce agent attrition and give new hires the best start in their careers. Without superior technology from the outset, many brokerages may see top agents leave for competitors with superior systems.