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.
Today, law firms are overseen by professional administrators who keep an eye on the bottom line and don’t let the partners waste time. Law firm administrators say real estate brokers can learn from the path they’ve cut.
NAR has updated, relaunched, and renamed its 1995 legal guide for brokers. Real Estate Brokerage Essentials: Managing Legal and Business Issues includes a new chapter on federal do-not-call, do-not-e-mail, and do-not-fax laws, as well as other timely updates.
Maybe the next best thing is building a cadre of leaders from among your sales ranks. Those leaders can coach newer associates, thereby helping you keep office motivation high. What’s more, you can cultivate the leaders who show promise to step into more of a management role.
Rather than hoping your sales associates—and you—don’t get hit with a lawsuit, be proactive by maintaining and updating a policies-and-procedures manual, monitoring paperwork, confronting problematic actions immediately, and letting associates go if they don’t change their ways.
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?
If you’ve done your homework, you’re not likely to find that the brokerage you just bought is a haven for low performers. Still, there’ll likely be some sales associates not pulling their weight. How do you address the issue?
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.
When you consider that Generation Y, the generation born between 1976 and 1994, is 73 million strong and rivals even the baby boomers in size, recruiting and retaining associates from this group is vital to your company’s long-term health. So how do you recruit them?
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.
If you manage or own a real estate company, or any company for that matter, a well thought-out office policy manual is a must. Here we’ll take you through the steps of creating an effective office policy manual.
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.
In Beverly Hills and parts of Los Angeles, homes by architects of national reputation aren’t uncommon. And when these homes go on the market, it’s often the sales associates at Mossler & Doe Inc., with their passion for architecture, who serve as the listing agents.
Whether you’re planning to sell your brokerage or you otherwise need to put a dollar value on it—you intend to leave your business to someone, for example—you’ll want to get the best estimate you can on its worth.
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.