Recruitment drives growth, but retention is what creates stability, culture and long-term momentum. In today’s market, keeping your best people is fast becoming the real competitive advantage.
In a fast-moving and competitive market, agencies need to consistently attract new talent, build leadership pipelines and strengthen their teams to support growth. However, in today’s market, retention has become just as important, if not more important, than recruitment itself.
While attracting talent remains competitive across the industry, retaining experienced and high-performing people is what creates long-term stability, consistency and growth within an agency.
Every resignation carries a cost far beyond recruitment fees. Not just financially, but operationally and culturally.
Every resignation impacts team morale, leadership time, client experience and productivity. In customer-focused industries like real estate, continuity matters.
According to research from the Australian HR Institute (AHRI), Australian employers estimate the average cost of replacing an employee is approximately $28,500 when factors such as recruitment, onboarding, training and lost productivity are considered.
That is not a small number for any agency to absorb.
For agencies, the impact can extend beyond the financial cost, with disruption to client relationships, team performance and business momentum also needing to be considered.
What I am seeing across the market is that candidates are becoming more selective about where they work, while businesses are becoming more cautious with hiring decisions. As a result, agencies can no longer rely on recruitment alone to solve resourcing issues.
We have found that the conversations we have with our team well before any resignation is on the table are what make the biggest difference; checking in on workload, career direction and support needs consistently has done more for retention than any single perk or bonus structure.
Strong retention starts well before an employee considers leaving. It comes down to leadership, communication, career progression, workload management and whether team members genuinely feel supported within the business.
One of the biggest misconceptions is that retention is purely about salary. While remuneration absolutely matters, employees are increasingly prioritising workplace culture, flexibility, development opportunities and leadership quality when deciding whether to stay long term.
AHRI research reinforces this shift, with Australian employers identifying enhanced flexible working arrangements (37%), increased learning and development opportunities (36%), and improved employee wellbeing support (35%) as some of the most common strategies being used to help retain staff.
This is relevant within both property management and sales roles, where burnout and turnover have, in my experience, historically been common across the industry. Agencies that proactively support their teams, create clear structures and invest in professional growth are seeing stronger stability and engagement as a result.
Retention also has a direct impact on brand reputation. In today’s market, I’m seeing candidates research agencies more thoroughly than ever before. Candidates notice high turnover. Clients notice it too.
For agencies looking to strengthen retention, the focus should be on consistent actions: creating clear career pathways, holding regular team conversations, recognising performance, investing in training and ensuring workloads remain sustainable. Retention is rarely improved through one initiative – it is built through the everyday employee experience.
If you want a practical starting point, run a stay interview with your top three performers this month and ask them directly what would make them leave. The answers will tell you exactly where to focus your retention efforts.
The businesses performing best right now are not necessarily the ones hiring the fastest. They are the ones creating environments where people want to stay.
As the real estate industry continues to evolve, agencies that place genuine focus on retention alongside consistent recruitment will build stronger teams, better client experiences and more sustainable long-term growth.