Different Management Styles
Some managing brokers might tell you that their careers are a bit more difficult now. They need to stay on top of their agents and actively mentor them, “groom” them to do their best, advise them in every single kind of situation. But they also need to do so in a way that will make the agent happy and feel productive – what management styles get the most out of an agent? It differs from individual to individual.
“When agents are not subject to any accountability to either their manager or anyone else who is overseeing them, the managing broker loses control of the office,” Schumacher says. “That is when trouble starts. Believe it or not, there are some offices that do not even have in-person office meetings anymore. I need to get in front of my agents’ faces at least three to four times per month. When you lose the pulse of your office, you have lost control of your office as a managing broker.”
Goro agrees that a loose management style is always too loose, period.
“Everyone who is running a business needs some type of structure,” he says. “Maybe you could get away with it in a situation where you have employees, but it will not work with business owners. It takes a while to understand they have their own business, programs and systems to develop. I work with all of my agents at round tables to discuss current challenges and how to handle any challenges that may come up,” Goro says. “We discuss topics like how to create an effective listing presentation, handling multiple offers and coaching your buyers into making an offer when you know it is a situation with multiple offers. Experienced agents have great ideas if you listen to them, and this is one reason why I hold the round tables.”