How Brokers Contribute to Agent Success
Three top agents discuss how their brokers help them advance
By Dr. Cliff Baird
SOURCE: RISMEDIA, May 10, 2007-

Here, three successful agents tell how good management factors into their continued success.
Participants:
Dominique Babcock, Keller Williams Realty, SLC, Salt Lake City, Utah: Babcock has a dedicated goal as a Realtor to be successful far beyond the average in closings, repeat business clients, and both professional skills and ethics. "I measure those successes' she says, " by the calculated sacrifices to my family and to myself."

Sean Dionne, Century 21 Results, Sarnia, ON, Canada: Dionne has been in real estate for four years wallowing under a lack of guidance. Under new management and in a new agent-centered environment he has had more transactions in his first 4 months under new leadership than he had in his first 3 years.

Sondra Blackwell, Coldwell Banker Reehl Properties, Inc., Fairhope, Alabama: Blackwell is an associate broker and a consistent top producer with over $8.3 million in sales for 2006 in the number one Coldwell Banker Office in the state of Alabama.

How is your broker helping you to succeed in today's market?
Dominique Babcock: My broker provides classes on a regular basis enabling Realtors to take the next chance. Everything else however, such as leads for buyers or sellers, is agent driven
Sean Dionne: My broker proves to me everyday that, not only does he want to be successful personally, but more importantly he strives to help me and my co- workers be just as successful.
Sondra Blackwell…My broker leads by example with a strong work ethic, great training,encouraging agents and emphasizing the importance of acquiring listings.

What do brokers need to do to lead agents?
DB: They should make tools and resources easily available. They should also be available by phone or in person for various situations based on urgency and need.
SD: They need to prove to agents that they want everyone of the team be successful and would do anything possible to assist that happening.
SB: Agents need to be lead by someone who is a true mentor. It is also important that the Broker have the highest ethical standards.

What tools and resources do Brokers need to offer?
DB: Equipment that works!
SD: Well equipped offices with all the modern technology readily available and target marketing ideas outlined, proven and ready to be worked.
SB: The most important thing that a Broker can do is to provide proper training.

What training should Brokers provide?
DB: A Broker should offer ongoing classes for various levels of agents (from brand new to the seasoned and successful)
SD: This is an easy one. They should train the specifics on how to become successful and simply everything you need to do to become the best of the best… a household name.
SB: Training should include sales skills and language training, contract writing, negotiating, and most importantly…the skill of LISTENING to what the client's wants and needs are.

How should Brokers motivate an agent like you?
DB: Interesting office meetings are the start…Interesting subjects…motivational speakers… warm greetings in passing…good to great office help…playing no "favorites"…host one freeenjoyable dinner a year.
SD: Small incentives, nothing outrageous, just some sort of token of praise and appreciation. This maybe incorporated with some fun yet competitive contests.
SB: Most successful Realtors are motivated from within. But it sure helps to know that my Broker is always in my corner and is always there to help andencourage us agents when business is crazy–like it so often can be.

What Real Estate Company is the Most Searched For?

I'm finding that I like to do this blog thing about our industry. As I am searching for the best keyword to use, I decided to see who is searched for the most. The findings may surprise you.

Here's the list:

1. Century 21
2. Coldwell Banker
3. ERA (might have been the word "era")
4. Keller Williams
5. Distant C21
6. GMAC popped up next in Relevance

I do not see REMAX there anywhere. However, like REALTOR.com, the name is so recognizeable that they may be generating traffic DIRECTLY to them. I also found it interesting that CENTURY 21 popped up as number one. It backs up their claim, but upon further review, it's my hypothesis that users have a hard time finding them, so they are forced to search. In addtion, much like ERA, I believe they are getting a boost on the sheer fact that it has another meaning, ala 21st Century.

To me the clear cut winner would be Coldwell Banker.

Coldwell Banker is Targeting Single Women?

RIS has the article - I may have to do a link list for these articles or an RSS feed.

Here's a snippet:

"Clearly, single women help drive real estate sales in this country," said
Charlie Young, senior vice president, marketing, Coldwell Banker Real Estate
Corporation. "This group has demonstrated their clout in the real estate market
and has the economic capability to gain the American dream of homeownership."

Here's the link: http://www.rismedia.com/wp/2007-05-02/coldwell-banker-launches-marketing-program-aimed-at-single-women/

Is your company supporting your business…or are you supporting their business?

As I do more and more research on the different Brokerages it amazes me that no matter how much a company is more cutting edge in their methods, they still are doing business the traditional way. That is, they spend money, AGENT'S money, promoting THEIR brand and generating THEIR own leads ... which in turn are sold back to the agent or given to the top producers.

Let's examine their business model.

Recruit new agents - Take 50% from their sales and hopefully they will become good. If they get big, they will be rewarded with new business opportunities that were generated off of their split. They'll get perks, such as parking spaces, offices and key opportunities.

Worst case scenario, the prospect doesn't pan out and the company gets some free advertising while they were working.

Last time I checked, 100% of my clients wanted to work with me, not my Broker or my brand. When I switch companies, my clients come with me.

So who am I talking about? Let's call some of them out:

• Remax - Still on a traditional split - never caps, or if it does it's coupled with exorbinant "desk" fees. Recently they developed LEADSTREET where they generate leads and sell them back to the agents. They also came out with REMAX University. Sounds very familiar with another University.
• Coldwell Banker - This is a company that is owned by Cedant. In any case, the split is the same traditional one, 70/30 for most agents with no cap in site. All branding must be CB and not the SMITH TEAM.
• C-21 - Again, owned by Cedant. C-21 is becoming the red-headed step child of brokerages. On one page you'll see a recruting ad, proclaiming how successful people will be by joining. On the opposing page, there's an undermining ad of "SAVE OUR COMMISSION" explaing C-21 Flat Fee franchises. To me this is the bottom of the barrel for a company.
• Prudential - Works the traditional system as well. They would love for their agents to buy into their other products and sell them as well. Overall, they view agents as employees.
• ERA, Exit & GMAC - These companies are copying the KW model but getting it all wrong. Instead of actually sharing profits, they dip into agents pockets -- forever. At GMAC, people who recruit you will receive 1 to 2% of your total earning. This does not go levels deep and never caps out. ERA and Exit have similiar reward models.

In some cases, these brokerages will offer lockboxes, signs and other resources. The downside is that all of these items keep you dependent on them and, oh yeah, "would you like some JOHN SMITH with your Coldwell Banker sign?"

So who's not doing this?

• Keller Williams - Doesn't spend a dime on brand building or recruiting. Each agent caps out at a predetermined number, in Atlanta it's 18K. After that it's strictly 100%. This renews itself every year. This also creates equality and quality control. No agent is worth more than the 18K so unethical agents will be "dehired." That's unimaginable when brokerages would hire monkeys if allowed. It's more about YOU the agent. KW spends their money on training agents how to do the business. If you've ever met a KW agent, then you know it's about being professional and having a career worth having.
• Solid Source (Local) - A Per Transaction based company. Their "Christian" foundation makes them an interesting study.
• Flat Fee/100% Companies - They offer no training or support but you keep everything. Typically you can do what you want as well, even as far as creating a sub brand.

This was pretty down and dirty but it should give you some insight. What has your Broker done for you lately? My guess if they aren't teaching you how to fish, their causing you to be dependent on them. If that's the case, ask yourself this, "what happens when the market shifts and it's no long profitable for them to provide these things at this price?" Prices go up, ethics go down and you'll be looking elsewhere.

At the end of the day, when you look at your business, are you supporting YOUR brand of Real Estate or your BROKERS?

Professonals?

Another flat fee company out there is known as Realty Professionals. Very much like Chapman Hall and other flat fee type companies. It's a no service, no support, all the commission company. This is a great business model overall and really assists in the helping agents lower their commissions and pass the savings along the consumer. The difference between Realty Professionals and Chapman Hall or any rather, the difference between Chapman Hall and all other flat fee companies is that Realty Professionals charges a transaction fee. So in exchange for less of a monthly burden you only have to pay when you perform.

With many of these types of brokerages out there, it's no wonder why they are not doing anything in the market overall. One of the reasons why Remax, Coldwell and others have experienced agents is because they simply can afford it. If you can't pay the bills you'll likely end up at one of these flat fee companies. Now whether you get what you pay for is up to you. I could make a case against it at Remax. So the question still remains, are the agents at Realty Professionals, professionals? If you take professional to mean, competent, then YES. However, if you take professional to imply that an agent is taking the business seriously and sees it as a career, then I would have to say, No. There are exceptions to every rule, there are top agents world over that are in unheard of brokerages, so don't take that as a hard and fast rule.

In any case, Realty Professionals offers a nice, relaxed enviroment. The big draw of this particular company is the laid back broker, Jim Burchette. Every agent I've encountered has had nothing but nice things to say.

Again, as with Chapman Hall, you get a low risk, relaxed enviroment with no training, no support or leads or anything. In comparison, RP has more offices than CH, but at a higher cost.

Summary:

What you get with Realty Professionals

• $200 A month / $250 a transaction
• more office locations than most flat fee companies
• no training
• no frills