Real Estate can be a lonely business. You are often times working alone on a wide variety of projects with little to no back-up. You are responsible for your own business, and while that can be exciting for those who are entrepreneurial at heart, no man is an island. Luckily for you, there is a person in every Realtor's life who is there to provide support. What exactly does a good Broker do? Check out our list of 9 Things Your Broker Should Be Doing For You below.
Real Estate moves fast and your broker should be able to keep up with timely demands from all of their agents. By not being available to quickly respond to consult on contract issues, your broker could be severely impacting your ability to get contracts written and ultimately impacting your bottom line.
2- Goal Setting:
Your broker should be assisting you with setting goals. If your broker isn’t willing to have a quarterly meeting with you one-on-one to discuss your business plan and to help create a plan to reach your goals, it might be time to consider a move.
3- Emotional Support:
Real Estate can get ugly, y’all! Your broker should be able to provide emotional support to you in times of need and should be willing to speak with any clients who need to be talked off the ledge.
4- Providing Opportunities to Learn:
Your broker should be on the lookout for places for you to grow in knowledge. Whether that be in-house classes and trainings, things available at your local Board, or coaching or online training, your broker should be giving you several chances a month to learn something new.
5- Fighting for Commission:
Getting paid on a deal isn’t necessarily a given. Commissions can be held up for any number of reasons, and your broker should always be willing to go to bat for you when it comes to getting paid.
6- The Legal Stuff:
Brokers should be up to date on the changes to the GAR forms that occur twice a year. If your broker doesn’t currently sell, they should be making it a priority to stay up to date with the changes of the forms, as well as with changes in real estate law. Brokers should also be connected with a network of lawyers that they can consult with for issues outside of their scope of knowledge.
7- Tone and Culture of the Office:
There are all types of ways to work. Your broker should make it clear what kind of office environment they have created. Knowing what kind of culture your office has is wildly important, as that is what sets the tone for how business is done in the office. Your broker should be able to clearly articulate what kind of company culture is prevalent at their brokerage.
8- Awareness of New Technology:
Your broker should be on top of the latest and greatest in real estate technology and should be providing access to the tools that will help grow your business. Your monthly fees should include several technology products, such as a website and transaction management software, and it’s your broker’s responsibility to make you aware of additional industry leading products.
9- Administrative Support:
This is crucial. The process for compliance and receiving commission payments should be clearly outlined and very simple. If your broker doesn’t offer table funding, check processing should be done in a timely manner. This often takes a team of support staff, but it’s you broker’s responsibility to make sure the processes are in place.
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