Experts agree that what gives a brokerage magnetic attraction is more than just enticements such as a high commission split or cutting-edge technology. Instead, brokers create a buzz around their company by exuding leadership and creating a culture that fosters productivity.
Brokers are increasingly providing benefits such as health insurance and retirement savings plans while still preserving their associates’ independent contractor status. Here’s a snapshot of benefits packages offered by brokers—large and small, independent and franchised—throughout the country.
Between 2001 and 2004, 25 real estate salespeople and brokers died as a result of “assaults and violent acts,” according to the Bureau of Labor Statistics. Sadly, the tragedies continue. As a broker, are you doing enough to protect your sales associates from risk?
Proactive cooperation, such as by sharing commissions--even when you’re technically not required to--shouldn’t be thought of as a short-term cost to your company but rather as an investment that leads to future business. You and your clients will sell their homes more quickly and resolve hitches with less stress.
Independent brokers have little margin of error when big powerhouses are spending lavishly to pull in customers. Here’s how they keep their edge against bigger competitors in branding, networking, technology, and retaining support staff.
Mother used to say, “The more things change, the more they stay the same.” When REALTOR® Magazine began comparing its first “Top 100 Companies” list from July 2000 with this year’s roster, we saw a lot that looked familiar. Like a lot of old sayings, however, this one is only partially true.
What are you going to do before you leave the office today to set the stage for your company’s financial growth? If you’re not consistently evaluating your operation, you’re leaving money on the table.
You can increase your chances of managing your managers to peak performance by hiring right, setting and enforcing goals, recognizing managers’ intangible qualities, and tweaking compensation plans to engender the best performance.
Anecdotal reports have estimated about 50 percent of new associates don’t make it to their first anniversary, and there’s agreement with that statistic among brokers—when they’re not talking about their own company. Whatever the magnitude of the washout rate, there are steps you can take to keep it from getting too high.
Thomas M. Stevens owns an unusual combination of real estate franchises--offices of more than one brand. In addition to his 18 Coldwell Banker--Stevens, REALTORS®, he opened a Century 21--Stevens, REALTORS®, office in Washington, D.C.
The list of questions you run into every day in running your company is endless. And the list of Web sites you can turn to for answers is almost as long. We recently surfed the Web and came across eight meaty sites you can tap into when you have questions about running your company.
A group of independent brokers in Seattle banded together to form the Independent Brokers Association, which provides member brokers with services that typically only large multiple-office independents and franchises have the resources to provide.
If you're ever hit with a lawsuit alleging employment discrimination, your current insurance probably won't cover the claim. That's why more and more companies are buying employment practices liability insurance (EPLI), which does protect against discriminatory actions by company employees.