25 – The Broker Owner Experience: The Self-Managing Real Estate Brokerage™ Part I

The Self-Managing Brokerage™ is our training program for our broker owner partners and franchisees. It is a self-contained business plan designed to to launch a new brokerage, or to transition an existing brokerage to the Real Estate Brands Ltd model. Creating a Self-Managing Brokerage is not a one-time training event, it is the foundation of our value-added relationship with our partners and franchisees. 

Here are the central tenants:

1 We Work by Referral – We are in the relationship business, not the transaction business, earning referrals from our very best clients. Working by referral is built into our DNA and is essential to who we are as a company. We not only teach our licensed professionals how to create referral based businesses, we support them daily through our operations, marketing, and technical investments. 

2 The Client Obsession – We are committed to maximizing every opportunity we can to form a personal and lasting connection with our clients. Every client touch point from the moment a potential client contemplates a purchase or sale, until well after a transaction is closed, is an opportunity to advance our brand and reputation.

3 Innovation Through Process – We understand that freedom, innovation, and superior service is achieved by documenting and sharing everything we know about operating a profitable brokerage with our partners. A profitable franchise relationship is not just about a logo and marketing slogan, it is about the proven processes and operational procedures that form the basis of a consistent and satisfying client experience. 

4 Agents for Life – Our licensed professionals are the front line of our organization. Our agent attraction strategy and selection process is designed to screen in professionals that are personally aligned with our brand values. We expect to be the brokerage of choice for every agent we serve, at every stage of their career. We pledge to work with our broker owner partners to provide the leadership necessary to ensure our agents reach their personal goals and potential.

5 Tools and Tech – From the mundane of a reliable wireless connection and working printers and scanners, to the sophisticated technology of an online customer relationship manager, the tools we provide our agents must work as promised day in and day out. Every tool and technology we offer our agents is designed to facilitate working by referral, or to increase productivity. 

6 Broker Profitability is Job #1 – Our mission is to support the entrepreneurs that have chosen to make their mark on the world through real estate. We believe that broker owners deserve to be recognized, and appropriately compensated, for the critical role they play in our industry. Our clients will only be served if our brokerages and broker owners are financially strong. 

7 The 25% Solution – There is significant opportunity in this business for broker owners who wish to serve 100% of the people who need a home, not just the people who want to own a home. Adding property management services sets up an additional stream of income that can make the difference between merely existing and thriving. While it may be appropriate for some offices to emphasis property management over sales, for most, property management income that is no more than 25% of total revenue is enough create significantly increased cash flow.

That’s a wrap! We’ll see you back here next week for The Broker Owner Experience: A Word about Chris McAllister

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