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As a Real Estate Coach who has trained thousands of Agents and Brokers I must admit that when it comes down to coaching Brokers, one on one is the only way to get the job done.
Coaching Brokers is very different than coaching agents. Brokers need one on one attention because of their individual business challenges and personalities.
While it would seem that standardizing a program would work for Brokers it does not. Brokers feel the need to be independent. They know they are different breed and want to stay that way.
If they belong to a Franchise they may get limited support. Then again some Franchisees learn from other Franchisees that they assume are successful.
In many cases that illusion is their downfall. Just because a broker has two MB and a Porsche does not mean they know what they are doing.
Remember it is easy to fool a competitor but difficult to fool a banker.
As I continue to coach brokers one on one around the country I find their attention span to be distracted by the day-to-day crises instituted from almost every angle. Staff issues, Agent Problems, MLS issues, Real Estate Commission issues, Partner Problems, Spouse problems and most of all RECRUITING disappointment.
Recruiting is the most important aspect of growing a successful office and too most brokers no fun at all. They hate it! Rejection is what they cannot handle. It lowers their moral and they will do almost anything to not pick up the phone and call someone.
I find most offices are under staffed due to budgetary constraints. Meaning not enough revenue to hire needed support.
In my opinion the future for Realtors is somewhat clouded by the so called Internet Discounters, Franchisor Greed, Cost of Overhead and AGENTS who want to Work Less and Not More.
I call it the aging demographics syndrome.
E & O claims are up and the public wants to bring down any firm they can due to the buyer making a dumb personal decision to buy a home that they really could not afford.
Everyone by now has heard of Sub-Prime loans. It is just what it is: a loan to someone with less than Prime Credit.
We know it’s not easy being a Realtor today. However many brokers would love to go back to being an agent due to the pain of being in business today.
If you go to Florida or California you will find many Brokers willing to give their companies away.
You would think in these times similar to 1980 and 1990 NAR would want to reduce membership fees instead of raising them.
Why does NAR need a credit union? They don’t but some brilliant board thought it was a good idea. As a former Board member of the RE/MAX Credit Union it is no bed of Roses.
It did not take long to know it was not what we needed. We lost focus on our key objective, which was selling Franchises and Recruiting Quality Experienced agents to better serve the public.
Brokers need support but are only perceived as a cash cow for NAR, attempting to justify their existence. Some of you reading this may remember the name of Stuart Wolfe.
Homestore’s founder and former CEO, Stuart Wolfe, was one of the biggest crooks of the boom. He sold hundreds of millions of dollars of stock while pumping up Homestore’s financials with fake revenue deals.
You have to ask yourself, why would anyone want to be President of a Board of Realtors? One reason is massive Ego’s and a free trip to the National Association of Realtors Convention.
My experience shows me that when a broker becomes a board president the business goes down hill fast.
In closing this view of what is taking place in the market today, I feel it’s time to think about how NAR can help the brokers and reverse the increase of dues being instituted.
With over 800 MLS’s in the US I would recommend reducing them to just one in every state.
Let the State Associations take over the MLS’s. Thereby lowering the Broker/Agent MLS fees.
We did something similar in PA when we built the TREND MLS in 1992. We saved those agents in my former RE/MAX Region over $375,000.00 in duplicate fees in the first year of operation.
Can it be done on a statewide scale, sure it can.
The real estate industry serves the needs of millions of Americans each year. Realtors are hardworking and dedicated entrepreneurs devoted to improving not just the living standards of their own family’s but of those seeking the opportunity of owning their own home one-day.
If you are inclined to buy a home go buy it! The time is right! Interest rates are low and it’s a buyers market. Call your Realtor and make an offer, you just might get the biggest bargain ever.
