Managing a real estate brokerage, no matter how large or small, is multifaceted, demanding, and, in most cases, daunting. The broker is the leader, role model, recruiter, trainer, supervisor, and counselor for everyone involved with that particular firm. The broker is the go-to, responsible person who makes everyone else’s jobs easier and more cost-effective in terms of client services, technology, and market information. And, the broker is the chief guide or trailblazer within a highly complex, competitive, ever-changing business and industry.
Essentially, the broker sets the bar for professionalism within a real estate firm and within the industry as a whole. That professionalism is built upon three areas of expertise:
- Recruiting and retaining outstanding agents—be those agents inexperienced, hungry, and focused or veterans dedicated to improving their skills, networks, and yield.
- Providing all aspects of sales and productivity training including specialties in technology, coaching, marketing, and research analytics.
- Complying with local, state, and federal real estate laws, policies, and ethics.
Real estate agents value brokers who have outstanding communications skills, integrity, and a commitment to listening. Agents also value transparency and fair practices when it comes to recruitment, promotion, and retention.
To become that broker—that leader whom real estate agents most value—pay attention to these qualities:
- Empathy. The most valued brokers know and understand the challenges agents face on a daily basis. They can lend an ear and help agents develop strategies and tactics to deal with those challenges.
- Entrepreneurial spirit. Respected brokers are highly motivated to create their own distinctive signature within their company and the profession as a whole.
- Client-centric. Esteemed brokers know that real estate is a people business. They are dedicated to motivate their agents to connect with their clients in order to construct meaningful, long-term relationships.
- Caring and supportive. Well-regarded brokers create company cultures that are both responsive to and proactive with their agents, their families, and their communities.
- Educators. Valued brokers are available to answer questions, help agents navigate complexities, and provide specialized training and tools. They listen and give credit to others.
Brokers who cultivate these qualities within their professional playbooks are the brokers who best serve their agents, clients, business, community, and the entire real estate industry. These are the brokers of value—the leaders of value—who both understand and appreciate that real estate is a people business. These are the brokers who set the bar.