As the Broker/Owner (AKA: The Boss) of The Berkshire Group, most of the chats I have with my associates are just that, chats; usually about structuring a contract, or those one minute training moments that have so much value. However, occasionally, my conversations are much weightier, such as the one I had yesterday with an associate regarding a legal dispute over a contract to buy and sell. While the issue was of some significance, it was a particular snippet of our conversation that stuck in my mind. The snippet was “why are you so interested in helping me solve this problem?” I was so interested in responding to that question; I almost missed the significance of the question.
Once upon a time, brokers were responsible for the actions of their associates. That meant, along with multiple hundreds of other things, the broker went to bat for the associate if there was a dispute. I am still laboring under that concept. As another case in point, late last year, when another of my associates was stiffed on a coop commission, I went to bat for her. The hours I spent documenting the case for the attorney, completing the arbitration forms, and attending the hearing with her, were not things I had to do according to the current Colorado Commission rules or state law. I did it because I believe that is part of my job and morale responsibility as the Broker and leader. I believe that much of the consumer’s disconnect with our industry is a lack of interest and active supervision by the broker for the associates in their charge , and I want my associates to have the whatever advantage I can provide to them.
I operate a small brokerage, what is described as a “boutique” in current parlance. That means I can pay attention to what my associates are doing, not to hold them back, but to support them in moving forward, and sometimes going to bat for them. One can make many arguments about the best size of a brokerage and management “span of control” but in today’s real estate world, with sometimes hundred’s of associates operating under a single broker or manager, it is simply impossible for the leader to be attentive to the needs or issues of their associates. There just isn’t time. The question is, who cares, or perhaps, does it make any difference?
Actually, most brokers and their associates really do care. Brokers nationwide are struggling with the economy, just as everyone is, and there are now and will continue to be enormous challenges and changes in the real estate brokerage business. The industry may return to smaller brokerages, more able to make changes quickly to serve their associates and their consumers. Big brokerages will have to retool to cope with financial challenges, and more brokers will play a larger role in the success of their associates. As technology advances, previously high tech costs will become markedly lower, encouraging the transparency that all consumers are demanding. Franchises will become less attractive as the desire to create a Realtors® personal brand becomes more cost efficient, and the cost of franchising becomes prohibitive with reduced profit margins.
It will matter, and make a difference to many Realtors® to have a broker that will provide leadership, currency, support, and the occasional bat; because the average productive Realtor® will, by necessity, have to focus intensely on creating and executing the fewer business opportunities available.
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