08.28.17
Forbes: Essential Traits Brokers Need For A Successful Agent Partnership
With two million active real estate licenses in the U.S., according to research provided by the National Association of Realtors (NAR), it only makes sense that brokers are looking to partner with a percentage of these agents to help grow their brokerage. However, developing a successful relationship is not always easy, as NAR statistics indicate that the average agent only stays with a brokerage for seven years.
Building your business and retaining your agents is top of mind for agencies. When looking to add a new agent to the fold, these traits, as recommended by members of Forbes Real Estate Council, can help ensure you have a successful and long-running partnership.
1. Ability To Network
In order for an agent to be successful, they must able to work their own network of family and friends for business. This is especially true when they are first starting out. No amount of training can replace this type of effort. If an agent is not willing to put themselves out there, their road to success will be much more difficult. I think many agents do not come in with this mindset. – Mathew Roth, Hawthorn Builders
2. Someone Who Complements And Challenges You
Find someone whose skills complement yours and someone who will play devil’s advocate. They should be comfortable enough to argue their point with you. If both people think alike, one of you isn’t necessary. – Lee Kiser, Kiser Group
3. Being Trainable
Many agents who have had their license for many years are so used to the traditional listing routine. Times are changing and the industry is evolving. As more options for homeowners to sell their home without an agent emerge, agents must be agile enough to adapt to the market. – Hillary Hobson, Highest Cash Offer
4. Mentoring Skills
As a real estate broker in Texas, my brokerage uses a 100% commission/transaction fee instead of the normal percentage commission split. Hiring agents with mentoring skills frees up time for me so I can focus on recruiting and marketing. Agents who possess these skills help other agents who are less experienced to understand our business better. The less babysitting for the broker, the better. – Angela Yaun, Day Realty Group
5. Knowing The Math
Coming from the institutional space, it is important for a broker to know their numbers. A broker must have a strong financial expertise, including financial underwriting. Institutional multifamily deals are investment decisions that are in the millions or hundreds of millions of dollars. – Susan Tjarksen, KIG CRE LLC
6. Believing In The Future Of Real Estate
We look for agents who believe in the future of a better real estate experience, with higher standards and lower costs. A thick skin is crucial if someone wants to join our team. We do things differently, and many agents and brokerages aren’t open to the change we seek. Not taking this personally — and knowing the cost of disrupting the stale, agent-centric industry — is a non-negotiable. – Joshua Hunt, TRELORA
7. Genuinely Helpful, Eager To Learn And Grow
As an independently owned agency, we have the advantage of working in an intimate setting with people we’ve handpicked to suit our company’s values. One of those values being to “zig where others zag.” We’re never afraid to try a new approach to something, and take pride in our commitment to our clients. In interviewing agents, we look for genuinely helpful people who are eager to learn and grow. – James Krueger, Krueger Real Estate
8. Understanding The Core Values Of “Team Spirit”
I look for agents who understand they are not working FOR me but WITH me, as well as the other agents in our company. That means appreciating and accepting “in house” arbitration, understanding every single success for ONE is a success for ALL, being willing to reach out to fellow agents for help or to be helped, and understanding that one’s actions represent the whole. – Ruth Marlene Graham, Tropics Real Estate
