Strength in Sales

Keeping a hand in sales can help managing brokers stay on top of the numerous changes that are constantly taking place in real estate, according to Cookingham. Managing brokers who sell are out seeing properties, talking to clients and filling out the same paperwork as their agents. This equips them with the knowledge needed to give their agents sound advice when problems arise.

“Twenty-seven years ago, we were all out there on tour, looking at properties and knowing what was out there,” Cookingham says.

“Good or bad, now everything is available on the Internet with pictures, so many people have stopped doing that. But I think there’s a perspective that you lose if you don’t see it [a home] personally. No one’s ever going to tell you that it’s next to a garbage dump and the basement is four and a half feet tall. You don’t put that in the comments.”

McElroy agrees that there are advantages to having a managing broker who sells. He plans to keep selling a small number of homes each year, but focus most of his energies on training his agents and growing his company.

“I think there are definitely advantages to a managing broker being out there in the field selling, and I always want to keep doing a few deals a year just to stay sharp and grounded and in touch with the agent experience,” he says. “What I’m really passionate about is helping other agents become tremendously successful. I feel the best use of my time is to help them do that.”