The Real Estate Brokers Responsibility

Education & Training with Mayfield Real Estate Inc. 1999901491

I just concluded teaching a two-day seminar for the Council of Real Estate Brokers and Managers (CRB) - in Memphis, TN on "Performance Leadership," with a wonderful group of managers and brokers from around the U.S.  During this session it dawned on me the mind-boggling amount of responsibilities and duties a real estate broker/manager carries on their shoulders every day.  Don't misunderstand my statement, as I'm a 31 year veteran to the real estate industry, and I know firsthand all of the various areas a new sales associate must undertake to learn when they join your office, but for some unknown reason it's just become second nature for me as a real estate broker/trainer.  We spent the two days discussing the "ideal" sales associate, (our view and the consumers view) and then we looked at how the new and experienced agents needed to be trained, coached, mentored and what type of leadership style would work best for them.  Recruiting and retention ideas were formulated as well as devising a written "Leadership Plan" to implement all the newly acquired information.  Wow, what a needed and energizing experience for the real estate broker/manager! 

This was my fourth time to teach this course for the CRB and I must admit the material and content finally clicked for me.  I think the knowledge and needed action has always been there, but the need to organize, document and put your plans in writing finally made sense.  Most importantly, stick to it!  All of us have good intentions to follow a plan, but unless you take the time to formulate it and put it in writing, you'll always fall short of the mark.

My biggest revelation from teaching the class is the "amount" of stuff we must teach and train new agents who join our firm.  Policy and procedures, ethics, anti-trust, fair housing, do not call, customer relations, technology, and the list goes on and on.  Sure, most of the "stuff" they're supposed to learn in pre-license school, but everyone needs reminded and educated on a regular basis to learn and succeed.  If you're a large broker where you can delegate this out to a training manager or staff person you're one step ahead of most brokers, but for people like me and other small to medium size broker/managers, our job description continues to get bigger and bigger.  Unfortunately, the pay doesn't seem to stay up with the increased liability and responsibilities of being a real estate broker.

So what's the moral of this story/blog?  First of all, if you have never taken the Performance Leadership class from the CRB, do so today!  Call the council to find out when the next course might be offered, and or encourage your local REALTOR® board or association to offer the class to your membership.  There are several excellent instructors for this course, and the brokers/managers in your area will benefit greatly from this offering.  Second, begin to put your responsibilities for new and experienced agents in writing and think about ways you can fulfill and implement those plans.  Think about the type of agent you want on your team and what characteristics and qualities they should meet to join your team.  Ask yourself what your company's culture and core values are, and put those thoughts and answers in writing.  Remember, it's your business, and without a proper plan (written plan) you may not always hit the mark.

Comments (2)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Thanks for sharing your most informative post with us today. Full Responsibility is real.

Aug 22, 2009 01:59 AM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

I will check with our board as well. Very enlightening although I think they should do away with a Real Estate license and just make everyone Brokers with the same responsibility. No one can truly know what their agents are or are not doing.

Aug 22, 2009 02:03 AM