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Broker/Owner/Managers Should Provide Not Compete

By
Services for Real Estate Pros with RE/MAX Executive Realty - Happily Retired 104763

Success starts at the top, but often we read posts written by Broker/Owners that state they do not secure business for the office.  I have never understood that train of thought.  Success starts at the top.

This does NOT equate to competing with agents in the office.  This does NOT relate to taking money out of an agent’s pocket.  What it DOES represent is the Broker/Owner providing listings for the office.  It signifies an office with its shelves full of inventory for the agents to sell.  It is inventory to market, and it results in phones ringing.

It’s the responsibility of the Broker/Owner to provide an office with stability.  The agents can complement that by selling the inventory plus replenishing the listing supply. 

The “top dogs” should lead the way, and that includes sales managers.  That is not equivalent to competing.  What it does provide is a comfortable environment with significant inventory for the agents to use to secure other inventory and/or sell if they are working as buyers’ agent.

Business and success starts at the top, and I firmly believe that. I’ve exercised that in the past.  As the sales manager, I never worked a buyer. I referred all buyers, and actually handed them to agents for “no fee.”  What I provided was new construction in the form of multiple subdivisions. 

The agents offered to do open house events, and they kept all business that was secured from those events.  I never collected a referral fee for any sale, but I did collect my listing fee on every listing. 

Everyone was very happy; no one left the office until I moved to my next office; and we not only made money, but we were the top office in the entire MLS database.  Did I mention, there were only six of us in the office, and it was a “mom and pop” office!!!!

Yes, success starts at the top….just be honest about it, and the key word is PROVIDE not grab!!!

Posted by

 

 

Barbara Todaro, Great Grandmother to Caleb, Santino, Aiden and Gianni       

Todaro Team - Retired

508-918-9148

               

             Copyright © 2009 - 2021 Barbara Todaro

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Comments (18)

Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Barbara, I think you described the real estate comparison to "profit sharing" in other companies.  Agents have to feel they share in the success of the brokerage.  This may be why you see a revolving door at some brokerages! Happy New Year. 

Jan 03, 2016 03:12 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Well said...it's called leadership!   Always appreciate your very thoughtful posts.

Jan 03, 2016 03:15 AM
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

I like your view of this.  Each brokerage has their duties of what their broker does.  A broker should always provide leadership, no matter what other functions they do in the office.

Jan 03, 2016 03:55 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Sounds like we are on the same page here Barbara Todaro . That was what I was saying on another post about not putting my name on the sign riders, I want agents under me to get a piece of the action even if it's my listing.

Jan 03, 2016 03:58 AM
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Barbara Todaro, It sounds like you are a great manager and broker. I would say that your agents are lucky to have you!

Jan 03, 2016 05:10 AM
Barbara Todaro

my main focus now is marketing.....when I was active, that was how I managed the office and there was NO turnover of agents..... and I didn't need to recruit any more agents....6 handled all of it....

Jan 03, 2016 05:13 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks, Barbara. for sharing your successful office practices.

Have a most productive month.

Jan 03, 2016 05:49 AM
Kathy Streib
Cypress, TX
Home Stager/Redesign

BarbaraT- no one wants to feel as if they're competing with the manager/owner.  You all win when there is plenty of inventory to sell and the pipeline is kept open and full. 

Jan 03, 2016 06:59 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Totally agree, Barbara!  I think the industry would change dramatically if this model of leadership prevailed.

Jan 03, 2016 07:13 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Barbara - I agree completely. It gets a lot simpler when it is just a mom & pop (Mary & Dick) operation, but we'll be adding another agent this spring, and we'll be making sure she has a smooth start and plenty of business.

Jan 03, 2016 08:10 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Barbara,  "Provide" not "Grab"... such an important distinction.  Reminds me of one of Zig Ziglars mottos:  "You can get everything in life you want if you help enough other people get what they want".   What a wonderful approach.

I'm always preaching that the most important thing for new agents is to carefully select their broker.  This fits right in.  

Jan 03, 2016 10:49 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

BRAVO; I couldn't agree more!

I'm ready for 2016; are you Barbara Todaro?

Jan 03, 2016 12:28 PM
James Dray
Fathom Realty - Bentonville, AR

Good morning Barbara, I'm a non-competing broker and the agents love it.  I pass out leads to the next agent in line.  they know to answer the phone when I call them.  Life is good

Jan 03, 2016 06:45 PM
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

I don't want to sound like a broken record. But who cares. I will say it anyway. You are AMAZING! A big inspiration for us. 

Thank you for being you. Don't change. BTW, your new BMW is due this year. Flash it when once you have it.

Jan 03, 2016 09:51 PM
Barbara Todaro

you're always too kind to me, Maria Gilda Racelis xxoo

Jan 03, 2016 10:08 PM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

This is the type of manager I left my last office to work for.  The previous became all about grabbing.

Jan 04, 2016 02:36 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Barbara

Your post makes a lot of sense . . . . as I say that it's always a topic that can become heated by either side.

Good luck and success.

Lou Ludwig

Jan 04, 2016 11:26 AM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Barbara. You are hard working, astute, and generous. It does start at the top.

Jan 04, 2016 09:18 PM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Ditto, ditto, Barbara Todaro I am in total agreement with your management style.

BTW Loved the interaction with Roger about the pizza.

Jan 04, 2016 10:35 PM
Barbara Todaro

Roger's the best....

Jan 05, 2016 08:11 PM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

My Philosophy has always been that if I am getting half of your money, I feel like I need to do something for you...is that not correct?

Jan 05, 2016 10:42 AM
Barbara Todaro

the best thing any broker/owner can provide for the office is new business that is secured by them and not by competing with the agents.... business that you found by digging....broker/owner/managers should provide.....broker/ owners/managers should be listing agents....make the phones ring for the agents to work the buyers.....

Jan 05, 2016 08:13 PM