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Do You Really NEED A Supervising Broker?? What's The Answer??

By
Real Estate Agent with Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate 303829;0225082372

Do You Really NEED A Supervising Broker??  What's The Answer??

It Happened One Day Back in about 1995.  I had been involved in the real estate industry in one capacity or another for what appeared to be forever.  At the time, I was very dissatisfied with the negative atmosphere and petty actions of other agents.  Sadly, the managing broker who followed a Laissez-faire management style was no help.  I began to "look around".  I settled with a company that permitted me to work from home and on my own with a minimum of office meetings.  Somehow, it just wasn't right for me because it was a strong listing company.  That was about the time I began Internet advertising and had more business than I could handle.  What was that broker doing for me???

My past experiences and opportunities had led me to a time when. . . . .

I could answer all of my own questions!!!

So, I asked myself a question. . . .  "Why do I need to be supervised by a Broker??"

I answered my own question, "I DON'T".  You may be in the same position.

Perhaps the signs have been there for quite a while.
You ask other agents about their company. 
You ask about their brokers.
You attend association meetings to meet other agents and brokers.
You ask questions about agents and brokers, not about real estate practices.
You believe that your broker/agent commission split doesn't reflect your hard work.


Perhaps you've been asked the question, "Why don't you get your broker's license?"

Put all of the above together and you have an awakening.  You realize that it's time for you to make the commitment to:

      Research the schedule for classes to obtain your broker's license.
      Make sure you have the time to devote to the classes and study.
      Make sure you have savings or an income stream to compensate for the time.
      Make sure you are self-motivated to complete the classes.
Make sure you can answer your own questions.

   You may find that "POT O' GOLD".

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This post inspired by personal experience and a post this morning by Barbara Todero.

Posted by


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Comments(79)

John F Muscarella
RIVER FARM PROPERTIES, LLC - Venice, FL
Broker/Owner, Venice, FL, Florida's Suncoast

Lynn:

 

I did this about 4 years ago and have never looked back.  It's all about confidence and trust in yourself.  I also only wanted to work with better agents.  So now I can hire only those who I trust their work and ethics.

Mar 08, 2014 10:15 PM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Hey, Lenn!  I included this post in today's Last Week's Favorites.  Have a great week.

Mar 09, 2014 03:37 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

John.  I see the quality of agents employed by smaller brokerages as far superior to the average in the mega brokerages.

Pat.  Thanks. 

Mar 09, 2014 04:42 AM
Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

I've had my broker's license for several years and in January I decided to embark upon the next chapter of my real estate career--broker owner of a very small firm.  My son and I now wonder why we waited so long to make the move.

Mar 09, 2014 06:11 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

And is that the supervising broker that caused you all that grief when you wanted to take your url with you?  I remember reading about that.  When we know more than they do . . . time to rethink.  

Mar 09, 2014 06:32 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Norma.  I think many of us think the same thing.

Carla.  That's the one.  I was very unhappy there.  A real estate friend said,

"Lenn, get your broker's license and you won't have to worry about where you're going to be." 

I did.

Mar 09, 2014 06:44 AM
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

I've witnessed a large percentage of mega-brokerages that lack supervision over their agents and "teams".  If there's not much supervising going on, why all the phony pretense about "broker supervision" by these big-box companies?  Seems like broker supervision is for small companies, but somehow the juggernaut firms are exempt.

Mar 09, 2014 04:10 PM
Norma J. Elkins
Elite Realty Group - Morristown, TN
Realtor - Elkins Home Selling Team

I have often wondered why more people don't get their brokers license and do their own business but I guess they don't want to step out of their comfort zone. Probably lots of responsibilities. 

Mar 09, 2014 08:42 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Eric.  They're not exempt.  They simply have structures that are designed to protect the companies.  They are adept at shifting responsibility to agents/teams, etc. 

That said, every single problem that I see in contracts leads to the lack of broker supervision.

Norma.  I suspect that considering the complicated nature of real estate, many agents want the comfort of someone to go to with questions and guidance.

Mar 09, 2014 09:11 PM
John Fauth
Coldwell Banker King Thompson - Grove City, OH
Turning your dreams into an address!

I work for a large broker and our manager has an open door policy. What questions there are get answered quickly. Your story though is a good watermark for when and if the moment comes to go to the next level. Yet many agents are to affraid to go to the next level.

Mar 10, 2014 01:52 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

John.  I wasn't afraid.  I just wanted to make sure I was ready.

Mar 10, 2014 07:32 AM
Cathy Wolters
Wolters Realty & Property Management Company - Cocoa, FL
Your Brevard County Property Management Expert

I know it was the right thing for me to do. I have never looked back. Great post. 

Mar 10, 2014 10:35 AM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Great post Lenn, I always knew that I would eventually be the guy in charge and it was not long after college before I was.

Mar 11, 2014 09:56 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Cathy.  I believe that's the way most think.

Bob.  That confidence is essential.

Mar 11, 2014 10:02 PM
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Hello, Lenn,

Some in our business are cut out to be – destined may be a better way to say it – the Boss. That is the managing broker or broker/owner or whatever the title may be. You clearly fit that mold. Then, of course, you broke the mold!

Mar 24, 2014 03:08 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

John.  Thanks, I think!!

Mar 24, 2014 09:12 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

To this day, I am thankful to have known this fabulous Realtor® Broker and friend.

I am choosing this post by Lenn Harley  to BOAST-A-POST for the February 2020 contest hosted by Richie Alan Naggar 

Feb 03, 2020 05:01 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

How wonderful to visit with Lenn Harley ..a true AR trooper who serves-up meat & potatoes subjects with a touch of Lenn. Worthy of a boasting too Margaret Rome, Baltimore Maryland thank you

Feb 03, 2020 07:26 PM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Great choice Margaret.  Lenn Harley is missed in the Rain, and is a fabulous choice for the Boast a Post Challenge. 

Feb 05, 2020 08:37 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

This was a great choice for the Boast-a-Post challenge. And Lenn's input is just as applicable now as it was six years ago!

Feb 15, 2020 05:23 AM