Detailed information and resources are presented here for the management of a real estate brokerage. The facility and physical layout, staffing, files management, information sharing, training and more will be analyzed.
What can we do as an individual real estate agent, or as a brokerage, to reduce our costs and survive through down real estate markets? They aren't always national, with regional down markets on occasion.
More than ever before, brokerages are carefully examining their cost structures and cutting where they can. One way is to cut office space and overhead by allowing agents to work remotely with an Intranet.
With real estate marketing changing, and pressures from Internet and discount brokers, is the old real estate agent commission and brokerage business model in danger of extinction?
Our real estate office policy manual must address how compensation outside the MLS is to be handled, as well as how disputes will be resolved. Example documents here.
There are instances when commissions must be modified, and there are other modifications to commissions when referrals are involved. Get examples here of the real estate office policy manual section.
Our real estate policy manual must clearly state how we will compensate associates, as well as procedures for compensation related disputes. Get example pages here.
This section is critical, as you do not want to run afoul of federal fair housing laws. Make sure associates read, understand and acknowledge these rules.
Advertising is regulated closely by most states' real estate governing boards. Place the rules here, and be sure your associates understand and follow them.
In this section of our real estate office policy manual we tell our associates what advertising we authorize, as well as how costs will be allocated.
There isn't anything more important than the thorough understanding by your associates of your brokerage policy on agency relationships. This section of our Real Estate Policy Manual deals with it.
Our real estate policy manual must address the way in which our associates employ and use personal assistants. Particular attention should be paid to what duties are legal.
A real estate office policy manual must deal with the use, filing and protection of documents. This includes not only client documents, but also company correspondence and marketing materials.
This section of our real estate office policy manual catches several topics, the largest of which is the sign policy. This section clearly sets out how signs are to be ordered and who pays for them.
A real estate office policy manual must cover every aspect of the operation of the business. In these two sections we stress safety and talk about vacation and leave time.
Offices that enjoy busy phone and walk-in traffic will want to set up an Office Floor Duty schedule. Associates should be there during business hours to answer questions and greet potential clients.
This section of our real estate office policy manual deals with contacting the broker and with the confidentiality of client and brokerage information.
We must always make clear to our associates that even the perception that they are giving legal or tax advice to a client can become a problem. This real estate policy manual section deals with this.
In our development of a real estate office policy manual, we deal with how we contact our associates when out of the office, as well as how associates should act with regards to substance abuse and smoking policy.
The Internet has changed the business of real estate considerably. It has also added risks to your operation that must be addressed in your real estate office policy manual.
This section catches a group of things that cover how the office will look, be maintained and other general office operations items. It will also deal with telephones and messages for associates.
In today's world, very clear policy on discrimination and harassment issues is critical. A clear policy can protect you if an associate does something outside policy.
The independent contractor status of associates is quite important to the operation of a brokerage. Do not risk it due to a lack of understanding or policy direction.
In any business environment, disputes can arise. Put a bunch of independent contractors in competition in their own brokerage, and chances of disputes is even greater.
In our ongoing development of a real estate office policy and procedures manual, we now need to list miscellaneous type expenses that an agent might incur and who is responsible for payment.
In this section of our real estate brokerage office policy manual, we set out the required affiliations, board and MLS memberships that must be maintained by the associates at their expense of doing business.
This is one section of a series on developing a policy manual for a real estate brokerage. We deal with the Mutual Benefit Section and Ethics.
From this article, you are linked to detailed explanations of the sections in an example real estate brokerage office policy manual.
Real estate assistants are a logical phase in the development of a real estate business. The busy agent or broker can funnel duties to the assistant that are taking time away from interaction with clients. One must be careful to know their state's laws as to what functions are allowed based on whether you have a licensed or an unlicensed real estate assistant.
If you want some informed and straight forward information about the legal risks we take daily as real estate agents and brokers, this book can give it to you. A CD ROM with usable forms for reducing liability is included.
This article gives helpful information for attracting the best new real estate agents, what to ask in interviews and how to get the ones you want.
