Best Practices

 

What do you like best about the real estate company you are affiliated with?  Both the general brand, and the specific franchise or office.

In August of 1977 I obtained a real estate license and joined a large local firm.  In my opinion, their best practice was asking agents to submit their yearly goals.  Their agent goals became part of the company goals for the year. Another best practice this firm had was assigning new agents a seasoned mentor.

A few years later, I joined a national franchise.  The local broker had periodic contests that lasted a month.  My favorite was called ‘steak, hamburger, or hotdogs!’  The office was divided into three teams.  Each team was headed by a top producer who ‘drew straws’ for the team members.  One point was given for a listing or sale.  A half point was awarded for a listing sold.  At the end of the month the team with the most points received steak at a company BBQ.  Team #2 received burgers, and team #3 received hot dogs.  The camaraderie, competition, and accountability was fun and productive.

Five years later I joined a strong, local 100% company.  Their best practices included a weekly newsletter with ‘haves and wants’ and timely tips from the broker on industry issues.  Each commission check had the agents YTD G.C.I listed.  Quarterly re-licensing class were offered for free at a light lunch provided by sponsors.

Currently, I’m with a large company. Their best practices include satellite T.V. education and designation programs, cumulative production awards (hall of fame, lifetime, circle of legends), a quarterly newspaper, a weekly e-newsletter with a blog for agent input, and numerous charities to support.

Recently, I received a call from my 401K planner.  He asked for a few minutes to get together and review my account performances.  We discussed my goals, and expectations.  After he left, I thought a periodic performance review would be a great best practice for a real estate company.