What Should a Newbie Realtor Expect from Their Broker?

By
Real Estate Broker Owner with www.GreenHomeRealty.com 0548772

Sponsoring Realtors is a big responsibility and risk for every Broker.  It's not anything like hiring a Buyer's agent since a all Sales Persons are sponsored by the Broker, not the Realtor. If the Sales Person falls short, go rogue, mis-step, mis-speak, write a contract incorrectly, or violate the Code of Ethics, it falls on the Broker. Everything said, written, and done reflects directly on the Broker. Yet, brokerages hire sometimes as many as 700 Sale Persons and expect the Risk Manager (note I used the singular form) to set up systems to manage the risk. No wonder why Big Box Brokers and rogue Brokers have so many quality control issues.  I'm not against Big Box Brokerages, I am against poor quality control.

Some brokerages offer various training programs with as many as 30-40 students in a class. They also rely on other Sales Persons in the firm to mentor the newbies.  Some  offer coaching classes in group settings to keep costs down. Others rely on a video series and leave it up to the agents to role play; isn't that the blind leading the blind if you're all newbies?  That might be a good fit for some Sales Persons, but that's not what I want for Green Home Realty. 

Unlike many brands allowing their agents to brand any which way, my brand is unique in that Green Home Realty is a certified Green company making it more challenging to retain the firm's integrity.  Because I had a new Sales Person on my radar, I had to seriously reflect on the impact that person would have on the integrity of the company and what he would need in order to be successful and to make this a great place to start his real estate career. 

What should be most important to a Sales Person's decision is what the Broker will do for them personally and specifically. Not the market share; it's irrelevant given we are Independent Contractors. The number of agents is a factor as it pertains to the Broker's ability to manage risk, coach, and maintain the integrity of the firm's reputation. The experience and expertise of the Realtor matters in that the Broker is ultimately reasonable for all transactions and marketing by the Sales Person. The ability of the Broker to recommend business tools and coach how to use them effectively.  Training is important and should match the Sales Person's personality and learning style. Lead generating is important so phone duty, online leads, open houses, etc. are great, but only to the extent that they are quality and that the Sales Person can effectively convert them into a prospect.That might be where most training fails; conversion is much more than a script.

I hired a new Realtor today, Andrew "Drew" McCurdy. Technically he doesn't start until June 8, but in the mean time I'm starting orientation and Basic Training this Friday. The pre-launch planning will give Drew a better launch with a more effecive and bigger initial impact. I have him up on my new website without content yet. When he gets a chance to write his page I'll write a blog about Drew and probably set up a member account for him on Activerain. I'll probably encourage him to share his training insight.  What I love most about Drew is his enthusiasm and passion for learning and for Green. I truly am looking forward to having a team member that is as energetic and focused as I am.

Is your Broker serving you well?

Andrew McCurdy

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Topic:
Real Estate Best Practices
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Diary of a Realtor
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Tags:
new agents
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Rainmaker
357,440
Morris Massre
Realtor Broward County Florida
Berkshire Hathaway Home Services

Cathy, as always I'm glad you are so dedicated.  I have moved on to Prudential from Fortune International exactly because of that lack of dedication from them.

May 23, 2012 11:28 AM
Rainmaker
979,963
Scott Godzyk
One of Manchester NH's Leading Agents
Godzyk Real Estate Services

Congratulations on the new hire Cathy. I am feeling the need to start looking for some agents as well, business keeps growing and it has become almost a must. I feel personal training always beats out those 30-40 person classes. Have a great day

May 23, 2012 11:32 AM
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Dick Greenberg
Northern Colorado Residential Real Estate
New Paradigm Partners LLC

Hi Cathy - Congrats on getting Drew on board. Your post is a very thoughtful examination of the responsibilites you have undertaken. It's amazing to me how many managing brokers I know who couldn't follow your logic - they're completely driven by corporate imperatives that reflect only on short-term revenue issues. The fact that you have considered the long-term issues - and actually thought about Drew's needs - is ample evidence that he has made a wise choice.

May 23, 2012 11:33 AM
Rainer
96,151
Chris Hardy
Northern Colorado Real Estate
Elevations Real Estate, LLC www.BuyFortCollinsHomes.com

Cathy - Having hired a number of licensees (many of them new), one thing I discovered is that it is tremendously difficult to determine whether a new hire will ultimately be successful or not.  There are so many variables that come into play - there is no single personality profile of real estate sales success regardless of the class time and book learning.  Coaching and mentoring are the two most valuable components of an apprentice salesperson's arsenal of tools.  Congrats on the newest addition to your brokerage!  I hope Drew exceeds your expectations and finds success with you as his coach and mentor!

May 23, 2012 11:36 AM
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Brenda Mullen
Your San Antonio TX Real Estate Agent!!
RE/MAX Access

Congrats on hiring an agent Cathy!  I am sure he will be a great asset to your company and with your training, coaching and mentoring he will flourish :)! 

May 23, 2012 02:13 PM
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Cathy Bureau

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