Does your managing broker sell and list properties?

Your managing broker is in an enviable position, for someone who sells and lists properties.  They often are the one that people call, asking if the manager can give them the name of one of the top agents in the office, who might be good to help sell their property.  Or do they know someone who'd be good to help find lakefront property for a relocating couple, coming in from New York City.

A managing broker who also lists and sells would be in a position to shortstop some of those calls, and accept the leads for themselves... after all, what client could resist the sales pitch (from someone whose opinion they were just soliciting) "Well... I list / sell properties in that area, and I AM the managing broker, here in the office, so I could do an excellent job for you".  And even the most ethical manager might find herself in a difficult position, if a particularly lucrative listing or buyer might cross her desk.

My managing broker does not routinely list or sell properties.  She does not compete with me (or any of the other agents in the office) for listings or buyers.  Managing an office of almost 100 prima-donna agents (and yes, I include myself in the land of primadonnaville) is a full-time job... maybe a job and a half, and she dedicates all of her professional time to that task.

There are managing brokers in our area who do list and sell regularly.  They are in smaller offices, and list and sell in order to supplement their income.  I don't like the idea of my manager competing with me for listings.  Their title gives them a slight edge with the public, and I don't think that's right.

How about yours?  Does your manager compete with you?  Are you okay with that... how do you feel about it?

ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate
Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779      Cell: 847.924.3313      Email: Almay@aol.com
Evanston Real Estate & North Shore Real Estate • Licensed in Illinois

   

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Star Posted by Alan May, Coldwell Banker Realtor® Evanston, Illinois & Northern Suburbs on 01/31/2010 09:12 AM   Comments (173)   Competition in the ActiveRain Channel   competition  
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173 Comments on Does your managing broker compete with you?

20 Most Recent Comments Displayed Show All

FEB
05
2010
116,020 Points 2 Featured Posts

Interesting thread an dpost, I am not sure I have much to add other than to agree that trust is the issue.  I am a managing broker who lists and sells but I do not take leads, ever and if I do have to handle someone who walks in and no agents are available I pass them right on to one of our agents as soon as possible
12:45pm • #157
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

jason - agreed.  trust is the key.
12:55pm • #158
FEB
07
2010
333,351 Points 4 Featured Posts

If you have to depend on leads from your brokerage, it might be time to get out of the business. You should be generating your own leads and not worrying about some one else!

Ty
8:32am • #159
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Ty - if you'd taken the time to read the entire post, or the comments in the thread, you'd see that I addressed a number of times that I am not relying on leads from my brokerage.  but leads DO come in to the brokerage, and whether they're shortstopped by the managing broker is the issue.  thanks for playin' our game.
8:59am • #160
FEB
08
2010
180,823 Points 5 Featured Posts Called Shot Master

Interesting post Alan. I am the broker/owner of two offices. I do list and I do sell. I talk with the agents coming into my office prior to their decision to join; I like us to be on the same page as it relates to this.

I would much rather not do these things, but real estate is my source of income. I do not rely on my agents to pay me a "salary."

Leads that are specific to a listing go to the listing agent. My agents are encouraged to have a website, use social media, blog, etc but most do not.

I think the issue comes down to the point you mention in the comments above - is the agent relying on leads from the brokerage?
6:53pm • #161
FEB
09
2010
1,053,427 Points 397 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Alan, I guess it really depends on the way the office is set up and whether or not the competing broker is working business they have created or whether they are just skimming off the top.

My office is virtual. At this point I only have 2 agents but both pretty much get all of their business from me. i DO cherry pick the buyers and sellers I want to work with and pass the others on. BUT I also keep pushing my agents to generate their own business. I would NEVER solicit someone that called in off of one of their ads or called in asking for them.

If agents generate their own business then having a competing broker makes no difference at all.
9:37am • #162
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Debbie - in my opinion, it does NOT come down to whether the agents are relying on company leads for their business.  It's a more fundamental issue, in my opinion.  Does the managing broker handle "loose" leads fairly?  And do you "trust" your managing broker to do so? 

Bryant - in such a small office (virtual or not), where you only have 2 agents, and they both rely on you for their business (at least for the moment, until they build their own)... they have to "trust" you, that you're handling "loose leads" that come to the office, fairly.  I'd imagine, since the 2 agents are probably related to you... that they have a high level of trust.  That changes things dramatically, don't you think?
2:04pm • #163
APR
13
2010
243,105 Points 16 Featured Posts Attended Rain Camp Called Shot Master

I don't compete with my agents and my sales manager is not eligible for company generated lead business.  In fact, we use this as a big recruiting tool with experienced agents who are fed up with their broker and managers taking all the incoming leads. 

 
9:44am • #164
APR
14
2010
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

weichert - it sounds like an excellent recruiting tool.
12:30pm • #165
AUG
19
2010

Hello,

My wife is a ReMax agent.  She signed an independent contractor agreement back in 2007.  In February of this year she left because it was her opinion that her broker and another employee (this employee's daugher was an agent as well) were hand picking the leads.  The broker was the top selling agent, the "daugher" agent was # 3 and my wife was # 4.  My wife NEVER got a lead.  Anyway, she moved on to another company.  Long story short, her old broker is getting ready to sue because the independent contrat has a clause stating 60 days notice must be given.  My question is, is this enforcable?  To our knowledge, she is the only agent the broker is holding to this clause of the contract.  Others, such as myself, left without this threat.

Thanks in advance.
Jim Ellis
12:20am • #166
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Jim - I'm not qualified to answer that question.
8:30am • #167
JAN
03
2011
649,326 Points 111 Featured Posts Outside Blog Called Shot Master

Alan I see I must have been Miss Chatty Cathy on this one.  Hope I wasn't wrecking your nerves:-).
10:24am • #168
1,542,920 Points 116 Featured Posts Localism Sponsor Outside Blog Called Shot Master

This was a big deal when our office found out we were getting a new managing broker.  He was an area top producer, and competing with him for a listing would be impossible.  However, our brokerage informed us that they do not have competing brokers.  Thanks goodness for that.
11:10am • #169
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Charita - I like "cathy".

Chris - sounds like you dodged a bullet.
7:41pm • #170
JAN
04
2011
461,523 Points 12 Featured Posts Outside Blog Called Shot Master

Alan great topic, our manager is only allowed it seems to bring her own listing in. You post seems to lead to many more such as who is the favorite agent, what's good for one agent is not for the other, does the manager set the mood of the office?. Some further AR posts for the future.....
2:33pm • #171
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

David - and clearly many brokers do sell.
4:13pm • #172
143,179 Points 1 Featured Post Attended Rain Camp

Our company has all non-compete managing brokers in our offices. I don't think it's a good idea for a manager to compete with their agents because I think this could lead to a conflict of interest.
6:40pm • #173
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Victor - a popular feeling.
8:01pm • #174
APR
11

My managing broker has been in the business forever.  And for the past few years so has her husband.  That means they take up twice the floor calls and won't relent no matter what. Today she went in for a minor medical procedure when her husband had the floor duty.  He wouldn't give it up even though he wasnt' around.  A client came in at 9:45 and the administrative assistant dutifully left the information for the husband, even though myself and another agent were there.  At 4:45 he finally called the guy! We only have 4 agents that take floor duty and they are two of them!  And.....her percentage of the sale is bigger than ours.  I am sick about it.  This is my full time job.
Steve
2:05pm • #175
886,379 Points 227 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Steve - I can understand why you'd be concerned about that.
2:56pm • #176

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Alan May, Coldwell Banker Realtor® Evanston, Illinois & Northern Suburbs (847.425.3779 almay@aol.com) Ambassador_large

Alan May, Coldwell Banker Realtor® Evanston, Illinois & Northern Suburbs

Evanston, IL

More about me…

847.425.3779 almay@aol.com

Address: Attn: Alan May, Realtor®, 2929 Central Street, Evanston, IL, 60201

Office Phone: (847) 425-3779

Cell Phone: (847) 924-3313

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