The latest data through March 31, 2025, indicates a continuation of the cautious environment shaping agent mobility trends in the real estate brokerage industry. While March typically stands out as the peak month for agent transfers, this year’s numbers fell notably short of historical benchmarks, echoing a persistent trend of subdued activity.

Key observations from March 2025:

Underwhelming peak season: Despite an uptick from February’s numbers, March’s transfer activity was significantly below expectations, marking one of the weakest March performances in recent years. Historically, March represents the high-water mark for brokerage switches as agents typically reevaluate their positions ahead of the busy spring selling season.

Seasonally adjusted index continues softening: The seasonally adjusted AMI score dropped to 88.1, continuing its decline from February’s already cautious levels. This figure underscores that agent movement remains restrained relative to typical seasonal patterns.

Active agent pool experiences slight contraction: The total number of active agents—those closing at least one transaction in the past year — declined slightly, continuing the modest downward trajectory noted in recent months. However, active agent counts remain above the lows of previous market contractions, such as in 2018.

Rob Keefe, founder of Relitix, commented on the implications of these findings: “This March’s muted agent movement further highlights the caution we’ve observed consistently over recent months. Although March typically brings peak recruiting momentum, the subdued numbers indicate many agents are still opting for stability amidst ongoing market uncertainties. Brokerage leaders will need to double down on strategic retention efforts and highlight clear value propositions to attract experienced talent in this cautious environment.”

Building upon observations from February’s AMI release — which noted a significant slowdown at the onset of prime recruiting season — the March data affirms that brokerage leaders should recalibrate their expectations for continued softness in recruitment activity, at least in the near term.

Strategic insights for brokerage leaders and recruiters:

  1. Heightened retention efforts needed: With fewer agents actively seeking new affiliations, brokerages must reinforce their existing value propositions, focusing on retention through enhanced training, technology integration, and robust marketing support.
  2. Emphasis on stability and support: Brokerage leaders should prioritize messaging around stability, emphasizing internal support structures and resource availability, appealing directly to agents’ caution in the current market.
  3. Close monitoring of agent count dynamics: The ongoing contraction in the active agent pool, though modest, necessitates vigilant tracking to determine if this trend signifies a longer-term industry adjustment or merely short-term hesitation.

Rob Keefe is founder of Relitix Data Science, a real estate brokerage recruiting and lead generation data company.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.To contact the editor responsible for this piece: zeb@hwmedia.com.

More: