From Agent to Brokerage is a Huge Step:
Using the resources of this site, you'll find help starting your new brokerage, setting up your business systems and growing it for an exit strategy. Real estate brokerage office management begs a plan. Let's profile some of the considerations here.
The Franchise Decision:
From national marketing exposure to group buying power for everything from signage to advertising space, the franchise provides immediate "bigness" to the brokerage.
Of course, all this comes at a cost, both up front and ongoing. Most charge a significant up-front fee and an ongoing percentage of revenue.
The Office Facility:
1. Privacy for agents and clients
2. Communications equipment
3. Computers and information technology equipment
4. Visibility and client presentation (location, location...)
5. Access and parking space
6. Training/conference areas
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Operating Procedures and Systems:
And this isn't a "seat of the pants" thing. Use the resources you'll find here to develop a detailed written plan and outline of what you'll need to get your brokerage off the ground. Do the "leg work" and put together the necessary personnel and systems before you open the doors.
Sales and Lead Management:
At the very least, any leads that come in from the company web site should be carefully tracked and the agent's follow-up actions monitored. Identifying top performers for more leads will pay great rewards.
Insurance and Risk Management:
Train, train, train should be a priority. Passing the license exam doesn't make an expert, or even a safe novice. There's a huge amount of sales training going on, but your brokerage will benefit greatly from some legal, forms, ethics and contracts training to go with it.
Be available for your agents. Make it easy for them to seek your advice.
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Start Your Exit Strategy from Day One:
If you get to the last couple of years before retirement and just start thinking of how much the business is worth, it's too late. Too much value will be lost to poor planning. Use resources here to learn how to plan systems to increase business value.