An Open Letter on the State of Real Estate Management Today.
Today’s new breed of professional real estate agent has brought a new set of needs and challenges to real estate management. The old way of running agents through one-size-fits-all training fails to deliver the value agents expect from their brokerage and has created recruiting, retention and profitability problems in many real estate offices.
|
In an effort to maintain profitable commission splits, many brokers have focused on doing everything for their agents in order to lock them into the company. But no matter how much a broker spends to help their agents succeed, they always want more. The sad reality is that the more dependent you try to make your agents on the company, the more your agents will resent you and blame you when they fail. We all know that no company can generate enough high quality leads to insure that every one of their agents will succeed.
Today you have to put accountability squarely on the agents’ back and teach them how to succeed on their own. Many brokers are fearful that if they develop strong, independent agents, these agents will leave for small increases in commission split. This is where the new model of real estate management as a leader/coach is starting to change the face of real estate.
We believe that as a broker today you must set up your organization to make your agents feel empowered to succeed. The secret is to help your agents feel like you are bringing them ongoing value. The key is to foster a true partnership where, by working together, both broker and agent make more. If you believe that you are providing agents office space, advertising, lead generating systems and the other standard things that most brokers provide, the reality is that you are competing on price.
In working with managers for two decades we have found that brokers who educate their agents on how business really operates, who help them develop a personal business plan and then hold each agent accountable, are building incredibly profitable offices that are growing fast. Best of all they are developing a true partnership with their agents that creates strong agent retention and a positive culture that will make you love going to work every day
About five years ago we laid out the blueprint on how to operate this new style of real estate office — we call it our MegaManaging philosophy. We then started working with managers to implement this approach into their daily operations. The results have been nothing short of spectacular. We would like to invite you to join us for our three day MegaManaging seminar to learn how it can help you and your organization.
We believe this the very best practical real estate management training program you can attend. We hope to see you there.
To your success,
Greg Herder, Don Hobbs
