Posted by: realestatewebtrainer | March 21, 2011

Some Mistakes Real Estate Broker/Owners make Regularly

Running a Real Estate Brokerage or Franchise is not for the faint of hearts; it takes hard work, the right team, and mental acumen to make it. In the last few years the collapse of the Real Estate Market has made it more difficult and has demanded more out of these Brokers than at any time before; yet many are still making some fundamental mistakes – let’s look at how to correct some of them:

1. Running a Real Estate Brokerage is NOT about Selling Real Estate – it is about Fostering the Conditions for your Sales Team to Succeed. Brokers are a type of Coach who is tuned to the capabilities of his team and knows how to bring the best out of them.

2. Reality dictates that some Brokers must work on some Real Estate Transactions; and who can fault them. They must also realize that when they do so they are putting a lid on their brokerage; their time is now consumed by these transactions and there little time left the team. The few Brokers who manage to combine Selling with Managing have internal rules that seem to work:

– They limit the number of transactions they will work on a monthly basis.

– They refer all their Buyer Leads to their team and focus on Listings or Big Projects.

– They hire a personal assistant focused on their transactions to help them with Marketing.

– They avoid making the Office Administrator their Personal Assistant; they understand that the office needs its own caretaker who is committed to the whole brokerage.

3. Successful Brokers have coaches who focus them on the Big Picture; if a Broker is to grow their office they must understand they their job is to Hire Agents, Train them; and Retain them. This is NOT an easy task! Some Brokers even think that if they get lots of Sales than agents will come knocking on their doors – sorry but it isn’t so.

So What is your Plan for Getting Agents; Training said Agents; and Making them love your office and Brand so both of you can reap the long-term Benefits?

4. Finally: Are you developing the Leader within? Leadership and Vision are your greatest asset – do everything you can to become an expert in this area; John Maxwell has a series of Books and is a good Start; but you can find others – just get started; you’ll love the journey!

Happy Blogging 🙂 – Key Yessaad, Real Estate Trainer


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