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Effective Strategies for Managing Brokers

by Doug Pitorak

MB 2014 finalManaging an office is one thing; the ability to seek out Realtors with the skills needed to thrive in real estate is another. Without quality agents, the office will flounder. Managing brokers know what they want in their Realtors; regardless of an agent’s experience, Realtors must be confident in their knowledge of the market and must show a natural ability to network with people. Managing brokers should remember Realtors for the right reasons; they must be ethical and compassionate.

Donna Lancaster has grown her pool of agents to 45 from 16 since she took over Berkshire Hathaway Homeservices’ Miami Beach office in 2007. When considering bringing on a new Realtor – managing brokers are always open to adding new talent – Donna wants agents who know to adjust to the myriad personalities they encounter through their clients. Above all, however, Realtors must be dedicated to the industry and must prove their worth as a networker.

“Most important is the commitment to succeed and the ability to network, because real estate is a people business,” Lancaster says. “Where are they going to get their business? I don’t want them to just depend on me to hand them out business. I need them to be self-motivated.”

Managing brokers all have their own tactics when they interview agents. Rosie Hernandez, managing broker of Gold Rose Realty in Miami, requests that prospective Realtors provide a written-out business plan. Jordan Millman, broker-principal of West Avenue Realty, quickly quizzes prospective Realtors about the market in the area, believing a great Realtor is one who can name the three hottest buildings on any given street without digging through the MLS. In a rapidly developing area like South Florida, managing brokers place an emphasis on knowing the market.

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