Praise for Realtor? Magazine's BROKER to BROKER"By providing best practice management tips with thought-provoking ideas, Broker to Broker offers invaluable guidance on virtually every aspect of our dynamic industry. The book's easy-to-read format, with in-depth supporting material available online, is an innovative approach to helping the country's brokers and managers find effective solutions to today's challenges."--Ron Peltier, President and CEO, HomeServices of America, Inc., Minneapolis, Minnesota"This compilation of the latest Realtor? Magazine articles on real estate brokerage management could be of help to brokers and managers looking for practical ideas to boost their operations. The book quotes extensively from veteran brokers and managers who are trying new ways to build sales and tackle problems. Within the book's range of articles could be helpful ideas for you."--J. Lennox Scott, Chairman and CEO, John L. Scott Real Estate, Seattle, Washington"The editors did their homework. The pace of change in our business is a constant challenge. Even if you don't want to lead the charge in industry change, brokers would do well to study the innovative concepts (such as the employee-agent model) illustrated here. The section on operations is particularly useful for brokers of a multi-office/multi-region operation."--Steve Brown, ABR?, CRB, Vice President and General Manager, Crye-Leike, Realtors?, Memphis, Tennessee"The editors of Realtor? Magazine do a fantastic job of keeping Realtors? on top of all real estate concerns. No issue is more timely or essential to building good business than brokerage practices."--Blanche Evans, Publisher, Agent News, and Editor, Realty Times, Dallas, Texas
Author(s): Robert Freedman
Edition: 1
Year: 2005
Language: English
Pages: 320
Broker to Broker......Page 5
Contents......Page 7
Foreword......Page 11
Introduction: Bringing Management Best Practices to You......Page 13
Section I: Managing Operations......Page 19
Boosting Your Bottom Line......Page 21
Taking Control of Your Accounting......Page 26
Preparing for a Financial Turn for the Worse......Page 29
Calculating Associate Compensation—The New Rules......Page 31
Running Multi-Office Loan and Title Companies......Page 37
Growing without Adding Staff......Page 39
Disaster-Proofing Your Brokerage......Page 41
Dealing with a New Competitor......Page 46
Go Commercial—and Help Your Residential Business......Page 48
Increasing Foot Traffic through Your Door......Page 54
Winning the Publicity Game......Page 56
Handling Negative PR......Page 63
Getting the Most Bang for Your Ad Buck......Page 65
Growing Your Business......Page 72
Scenario Planning: Take Your Future in Hand......Page 77
Business Models: New Approaches to Profitability......Page 82
Business Models: Full-Service vs. Limited-Service......Page 88
Helping Associates Work Better, Faster, Smarter......Page 93
Spinning Returns from Your Investment......Page 98
Supporting Your Systems without Spending a Lot......Page 102
Unplugging Your Associates......Page 105
Starting Up in a Big Rival’s Backyard......Page 112
Providing Liquidity to Net Customers......Page 114
Adding Home Styling to Your Services......Page 115
Catering to City Dwellers on a Country Purchase......Page 117
Making Downtown Revitalization a Niche......Page 118
Tapping Technology for That Whizbang Effect......Page 120
Attracting Clients through a Blend of Business and Art......Page 121
Learning from the “Fixer-Upper” Franchise......Page 123
Building a Big Following in a Small Town......Page 125
Serving the Hispanic Investor......Page 126
What the Timeshare Niche Is All About......Page 128
Working with Others to Leverage Buying Power......Page 130
Making Your Storefront Interactive......Page 131
The Next Level for Apartment Locator Services......Page 133
Section II: Managing People......Page 137
Shrink Your Washout Rate......Page 139
Attracting and Keeping the Best......Page 144
Why Associates Work Where They Do......Page 151
Behavioral Testing: Hire Recruits That Fit In......Page 155
Inclusionary Recruiting : Brightest under the Rainbow......Page 160
Four Steps to Rookie Success......Page 164
Work-Life Balance: Got Health?......Page 166
Keeping Associates Attuned to Safety......Page 171
Personal Safety Guide......Page 172
Know Sexual Harassment When You See It......Page 173
Helping Associates Cope with Personal Crises......Page 175
Achieving Work-Life Balance......Page 177
Office Design That Keeps Associates on Top......Page 181
Adapting to Life with Gen X......Page 186
What Career Means to Generation X......Page 190
Now Comes Generation Y......Page 196
Keeping Rivalries in Check......Page 197
Training Associates to Succeed......Page 202
Managers That Sell: When to Stay in the Game......Page 207
Offering Annuities to Spur Recruitment......Page 211
Complementing Traditional Associates with Salaried Division......Page 213
Paying Salaries, Charging Fees......Page 214
Freeing New Associates from Pressure of Selling Fast......Page 216
Letting Associates Take a Company Equity Stake......Page 218
Motivating Associates through Personalization......Page 219
Training Associates to a T......Page 221
Section III: Managing Risk......Page 223
Living with Litigation......Page 225
Addressing Top Legal Concerns......Page 230
Test Your Antitrust Knowledge......Page 235
Heading Off Privacy Complaints......Page 238
Understanding Internet Copyright Law......Page 240
Know How to Give Legal Testimony......Page 243
Fair Treatment in Dual Agency......Page 245
Trademark Correctly......Page 248
Avoiding a Breach: Fiduciary Duties Clarified......Page 251
Commission Rules for Departing Associates......Page 253
Employment Law: Who’s Exempt?......Page 256
Avoiding Pitfalls......Page 260
Proper Documentation Keeps You out of Legal Trouble......Page 264
Improving Customer Service......Page 267
Lowering E&O Premiums through Customer Service......Page 271
The Right Amount of E&O Insurance......Page 276
Making Dispute Resolution Work......Page 278
How to Handle Multiple Offers......Page 281
Upholding the Standard of Care......Page 284
What to Know about Synthetic Stucco......Page 287
What to Know about Stigmatized Properties......Page 289
What to Know about Mold Liability Risks......Page 292
Protecting Your Name against Identity Thieves......Page 295
Knowing Loan Fraud......Page 298
Understanding Buyer Rep Lead-Paint Disclosure Duty......Page 301
Liability for What You Don’t See......Page 304
About the Contributors......Page 308
About the National Association of REALTORS......Page 312
About the REALTOR Code of Ethics......Page 313
Company Index......Page 315
Subject Index......Page 318
