Why 10% of the real estate brokers employ 90% of the top Realtors in the industry?

Posted by Greg Steinaker on Tuesday, July 1st, 2014 at 9:15am.

First – what doesn’t work in real estate…

Some sources estimate that as many as 65 percent of Realtors leave their real estate brokerages because of their managers. We may say that real estate professionals quit their job or their company, but the reality is that they usually quit their leaders. The “company” doesn’t do anything negative to them. People do. Sometimes tensions arise between other Realtors or unmet expectations cause the problems that prompt people to leave. But often the people who alienate Realtors are their direct supervisors. Most real estate brokers can make a good impression on Realtors when they first meet. Add to that the optimism a Realtor has when they start a new job. They want a new job to work out. But over time, real estate brokers will be recognized for who they really are, not who they are trying to appear to be. If a broker is a jerk, it’s only a matter of time before a Realtor knows it.

So what type of broker does a Realtor normally quit?

Realtors quit brokers who devalue them. All of us want to hear good things said about us. We all want to be appreciated. However, many Realtors don’t receive positive feedback and appreciation at the office. Often it is quite the opposite; they feel devalued. Their brokers act superior and treat them with sustain, constantly reminding them that they are not selling enough, or casually reinforcing that “they are not good enough.” It is impossible to add value to someone we devalue! If we don’t respect someone, we cannot treat them with respect. Why? We cannot consistently behave in a way that is inconsistent with our beliefs. When a broker devalues their Realtors they begin to manipulate them. They start treating them like objects, not people. That is not appropriate for any broker to do.

Where do Realtors want to hang their licenses?

A real estate broker that looks for peoples values and expresses their appreciation for them is a purpose-driven real estate broker! An excellent real estate company is recognized in their community for their ability at finding value in an opportunity or deal – and they have the same mindset when it comes to people. A top-not real estate broker finds value in the Realtors who works for them and praises the Realtors for their contributions. The broker understands that the Realtor is contributing value to their customers through the services they provide as well as contributing value to the organization by increasing its overall worth. A good real estate broker understands that by reinforcing their Realtors instead of tearing them down, they are building them up for maximum performance. If a broker can find something to appreciate their Realtor in, they will appreciate working for the broker.

BanCorp Real Estate Group is a young up-and-coming real estate company that does not have a past to dwell on but rather a future to look forward to. www.bancorprealty.com info@bancorprealty.com

Greg Steinaker: Managing General Partner and President – BanCorp Properties

Leave a Comment