Regardless of what everyone likes to say, real estate is not and never has been a team sport! Not at the “agent” level anyway – where we were all trained. But now we are “Brokers” with an entire office to manage and we can’t do it alone. Now we do need a team, and that team is our staff. The brokerage model as well as staffing requirements, roles, and real estate office management have changed quite a bit over the years and in this two part video, we delve into the differing staff roles and organizational structure of a modern profitable brokerage.
- 00:46 – The reality – you only need two staff members to run an office up to 200 agents.
- 00:58 – Get rid of the receptionist – or at least the old concept of one. Faxes and switchboards are archaic. It’s not how it’s done.
- 01:40 – Replace them with an OA – Office Administrator – the dragon at the gate. They do file compliance, reporting issues and more on this in another video.
- 03:07 – Are you going to be a self-managed office or hire a full time manager. HINT: Self managed offices are a problem for a lot of reasons. Do you want a vacation? What do you want to spend your time on? TRUST us – Office Managers are the way to go!
DO THE MATH: Manager is $30K/year to start, plus bonuses based on production,
1 100K commissioned deal per month covers your manager. How long does it take to do that type of deal?
160 hours/month the manager should be working full time.
- 05:25 – If you are the top producer, you are a horrible manager.
Do you have additional questions on this topic or want us to start a new discussion for FREE Broker School? Join the #freebrokerschool conversation – Leave your comments right here on our blog and continue the conversation. We want you to have any real estate tools you need at your disposal.
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