The agents walking out of your brokerage outproduce the ones you bring in to replace them. Courted’s 2025 recruiting and retention report put numbers on it. Agents who left a brokerage last year were producing $2.11 million a year. The ones recruited in behind them, $1.44 million. The top 100 brands by volume brought in 1.9 agents for every one they lost and grew volume 1.8%. Each swap costs the building $670,000 a year, headcount unchanged. Ten is $6.7 million. Agents leave for one of two reasons.