Comments on: What am I looking For from a Real Estate Company?

By: Small is the new Big | agentgenius.com- national real estate opinion column

Small is the new Big | agentgenius.com- national real estate opinion column — Thu, 03 Jul 2008 19:30:30 +0000

[...] Jay Thompson, Matt Fagioli, and AG’s very own Benn and Lani Rosales. Teresa Boardman has done some pondering on this topic as well. Will she go small [...]

By: Michelle B.

Michelle B. — Tue, 01 Jul 2008 05:23:52 +0000

Teresa, you’re my hero. I heart you! : )

Especially the part about training classes…… to put together a really good class, one people will want to come to, takes some serious time and effort! I feel like if an agent has time to put together a good class, then they don’t have enough business to have the most current, relevant information in the class.

For those that are interested, I am fortunate in that I work with a locally owned brokerage that is pretty no-nonsense when it comes to fees. Just a nice, competitive desk fee (with options even), flexible split, no franchise fees, no tech fees, no transaction fees, and some very low cost, completely optional services (flyer printing, postage, listing syndication, etc.). Managing brokers are always available, I’m on a first name basis with the owners, they keep my paperwork organized, and I get paid right away. They work hard to maintain a solid reputation and market share, and are very selective about the agents they let in. After being there for a couple years, I decided to persue a recruiting call, just to see what I might be missing. Big, nationwide franchise company. The broker interviewing me had never met the owners. He didn’t expect that question, and I was done with the interview after his answer.

By: Marc Diaz

Marc Diaz — Sun, 29 Jun 2008 13:10:31 +0000

Great post and comments. Myself and others have been meeting and discussing this question and the broader question of “What will the future brokerage model look like?” (www.rebuildingrealty.com). I’ve concluded (no great insight here), that there will of course be many models just as there are today. But, if each agent will go through the process of understanding the different business models and also what they want from their brokerage, I think both sides will be much happier. As the posts reference, one question each agent needs ask their broker (and clearly understand) is how the brokerage will make a profit – if you don’t see that the broker can make a profit – beware – they may not be in business for long. I’ll post shortly the results of our most recent meeting which was to discuss the monthly expenses for a brokerage. We had almost 100% accuracy on this – the agents underestimated the expenses and overestimated revenue. However, when confronted with the actual expenses – agents were quick to identify ways to cut costs and readily agreed that many items should be shifted to the agent instead of the company.

Thus, is the case for more transparency!

By: Broker Bryant

Broker Bryant — Sat, 28 Jun 2008 00:07:04 +0000

Great responses. It sounds like having a knowledgable and accessable broker is a big plus. That’s a good thing since that is what I enjoy doing the most. I LOVE talking real estate and solving problems. And I’m a fanatic about good communications. I’ve always thought that the intangibles is where I can create the most value for my agents. Ok you guys have givem me lots of food for thought. Thanks!!!

Jay I’m going to call you next week so we can share ideas. Thanks for the offer.

By: Paula Henry

Paula Henry — Fri, 27 Jun 2008 17:58:48 +0000

T- I’m not sure there is a perfect brokerage or broker, but I am still in pursuit of something which resembles such a place. If I decided to go back to Arizona – I would call Jay, though.

I don’t begrudge my brokerage a fee – just make it reasonble. I don’t want to pay for things I don’t use or do not find beneficial to my business.

Office supply fees when I don’t use the office supplies. I am rarely in the office and have everything I need at home.

Home books which I have never recived a call from – okay -one call for over $600. a year.

I don’t need the fancy office so don’t tell me how much it takes to pay your bills. I’m interested in paying my bills and making a living.

Like you, I want a broker who is available to answer questions and guide me when I need it; someone who supports me and my business.

I create my own business, I want my number (only) on the sign. I’m not about feeding floor time agents and my time is too valuable to work floor time.

I don’t take a lot of time from my broker or the office, only when I talk about making a change, then they want to listen and help.

I believe there is a lot of talented broker/agents out there who will be providing agents what many of the big brokerages are missing.

By: BawldGuy Talking

BawldGuy Talking — Fri, 27 Jun 2008 17:57:25 +0000

My broker pays me upon closing via immediate wire to my account.

I’d like to hear the motivation of broker/owners who play the delay game. What’s the motivation?

By: Jay Thompson

Jay Thompson — Fri, 27 Jun 2008 15:41:45 +0000

@BB – “Jay, I think I’m older than you so do I get to pull rank with hiring Teresa?”

Uhm… no.

And I ain’t no spring chicken….

We should chat sometime Bryant about the trials and tribulations of opening a brokerage. I’ve got 4 whole months of experience now.