Survival Tips for Brokers by Stefan Swanepoel
March 31, 2009 by e-Partner · Leave a Comment
To Succeed Follow these Ten Golden Rules
Whether you own a small real estate office or a franchise with multiple offices, real estate brokers have much in common with other small business owners during these difficult economic conditions.
This economy affects all businesses and it doesn’t really matter if you are the local hair salon or the major department store, current market conditions are tough.
For real estate brokers, owners and managers the focus revolves around how to recruit quality agents, how to retain quality and productive agents and how to increase overall profitability.
This is analogous to the farmer who must plant, fertilize and water before reaping – and the sayings goes, “You reap what you sow.” Sowing solid business principles is certainly a key part of reaping a profit.
Included in the Swanepoel TRENDS Report 2009 is a list of 10 suggested action steps for brokers to be successful during the down turn. Here is a synopsis:
Recruiting
1. Define Your Hiring Objectives
Brokers must know what they want in a new hire before they can communicate the need to the marketplace. It’s no longer a numbers game but a quality contest. Creating unnecessary turnover wastes too much time and is too expensive, let alone the disruptiveness that results from bringing a team member on board who’s not a good fit.
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