DISCOVER WHAT THE ELITE BROKERAGE BLUEPRINT CAN CONSTRUCT WITHIN YOUR BROKERAGE
We have been fortunate.
As brokerage leaders, we have built successful brokerage firms and recruited over 1,000 salespeople.
Our expert real estate brokerage coaching and training frameworks have enabled us to identify The 4 Key Components of Building Elite Brokerage Firms. We emphasize these components to ensure success:
We used The 4 Key Components to develop our Elite Brokerage Blueprint. This plan is designed to help new and existing brokerage firms reach a higher level.
This framework has helped our real estate brokerage coaching clients increase performance, productions and, as a result, profitability.
Understanding and Tracking Key Brokerage Performance Metrics
- Ideal agent count, the average number of closed units per agent, and net company dollar per agent to achieve the brokerage goal
- Volume, units, and the average commission amount related to market trends
- Correlation to profit: revenue, current and future organizational chart, space, marketing costs, value items for leverage
Increasing The Production Potential Through The Current Agent Roster
- Company dollar- how much is each agent currently worth?
- Offering coaching, training, and mentorship to increase the production of the agents
- Offering support services and technology that accelerate agent production growth
How Productivity Flows to Profitability
- Teach your agents to track and know their numbers
- Assess time management for agents- support advancement in this area
- Consistent productivity leads to profitability. Profitability leads to long-term wealth-building opportunities.
Our brokerage clients have seen increased profitability (many have doubled their profits) through our blueprint for evaluating, tracking, and measuring their numbers.
What you measure, grows
- Profit loss and income statement
- Keeping a balance sheet
- Agent receivables and other income
Ensuring a return on investment
- Assess expense vs. investment
- Static vs. variable costs
- Retention: management, decisions, activities, results
Thinking and evaluating for success
- Determine your tolerance for calculated risks such as investments and expenditures
- Policy on discounted commissions and agent concessions
- Capturing additional market share
Our framework for growth is a significant part of building an elite brokerage. With this blueprint, the lead broker can grow as a leader, teams and agents can grow their skills, and the firm can grow in production, profits, and by recruiting talented people.
- Gaining referrals to join from current agents
- Training and support based on the needs of the agent roster
- Knowing the right questions to ask to establish rapport
- Recruiting to The Four Levels of Income (at minute 10:00)
- Clarity on projected growth to achieve the goal
- Systematic follow-up plan for recruiting
- Seamless onboarding process
Recruit and retain to your Core Values and Mission
- Core Values as a non-negotiable recruiting filter
- Attract like-minded people to your brokerage
- Create and build consistency through alignment
Brokerage office: Brick & Mortar vs. Virtual
- Proactively building trust and loyalty through the environment
- Maintaining a great working environment in a virtual setting
- The difference between leadership and management
Building your brokerage around your agents
- Organizational behavior: expectations vs. best practices
- Communication – office meetings, interaction, engagement between agents, lines of communication
- Understand why agents move or stay. Then, build your brokerage based on the reasons why they stay. Consider factors such as leadership, culture, your brand, services/tech, and splits
CONSTRUCTING YOUR ELITE BROKERAGE
We work with new brokerages with growth goals, established brokerages improving in the 4 Key Components of an Elite Brokerage, and brokerage firm owners working toward exit and succession. We are interested in speaking with you about advancing your business at every stage. We can confidently guide your firm to the next level.
Connect with us to get started.
Bill, Debbie, & The MEC Team