They say workers don’t leave bad jobs; they leave bad bosses. Of course, the situation is a little different in most real estate offices; we all know managing a crowd of independent contractors is different from leading an office of employees.
Still, the importance of managing brokers in recruitment and retention efforts is paramount. First, a recent reader survey hints at a year of mobility: Our 2019 Truth About Agents issue from the beginning of this month found that 23.3 percent of agents may be considering changing brokerages this year. And in our past surveys about the importance of leadership at one’s office, managing brokers have always ranked high among reasons agents stay — or leave. It seems managers recognize this too; when we asked them about their recruitment efforts this spring, managing brokers cited the No. 2 most effective way to get agents to move to your office as “being a strong managing broker” (and No. 1 was arguably related to that work: “creating a collaborative culture”).
But what can a managing broker do to up their game? That’s what this issue is all about. We learn what managing brokers are looking for when they recruit agents, and what they do when they’ve found someone they think will be a good fit in their office. How much can they really control, in terms of how agents do their business, and what’s the proper level of support and training to offer a person who isn’t technically one’s employee?
These certainly aren’t easy questions, and the answers may vary a great deal depending upon the personalities and cultures that drive a particular brand or office. However, I have learned a great deal from hearing these thoughtful leaders opine on how to create working environments that will serve the real estate professional of both today and tomorrow, and I think you will too. And if you have managing broker tips or stories to share, please don’t hesitate to email me at email@example.com.