Mentorship programs can boost agent success and increase morale.

The company that Jon Yacovetta works for was pretty new in 2020, with a lot of growth due to an influx of new agents coming on board. 

“I have a background in education and leadership, and I had phenomenal mentorship myself from Bret Weinstein, our founder and CEO,” says the Director of Mentoring at Guide Real Estate, in Aurora, Colo. “So, as we were taking on these new agents, Bret thought it would be a good idea for me to put those skills and what I learned from him to use, and to teach these new agents how to do real estate and provide the supervision all new agents require.” 

After the initiative proved successful, Yacovetta and Weinstein decided to implement a formal mentorship program, which took off and became a magnet for attracting talent. When executed well, a mentorship program can make a huge difference for agents and the brokerage, helping agents gain confidence and clients and thus bringing in more money.

He adds that it also becomes a point for recruitment and growth, plus it creates new opportunities for producing agents to earn and to add to their experience and expertise.

Mentorship Makes a Difference

Ahmed Islam grew up in Dubai but came to New York City when he was 16. After getting his real estate license and working for several years in the industry, he entered a mentorship program offered through the National Association of REALTORS® as a mentee. His main reason was that he felt he needed more guidance and basic advice to enter the world of commercial real estate.

“I’d go to commercial brokerages, and they’d tell I just wasn’t ready for it,” he adds. “I had a lack of experience in it.” 

He’d identified a California agent in the commercial sector who he wanted to learn from. “The good thing about him was he went above and beyond. He taught me a lot of motivational stuff, not just work. I hit the jackpot,” he states. 

“Being mentored helped me bridge the gap from residential to commercial. I had tried to get into commercial for seven years,” says Islam, who is now a commercial real estate specialist and partner at Prime Realty Services in Camp Hill, Pa. 

Because of his great experience as a mentee, Islam became a mentor and has served as one for the past three years. 

“Being a mentor is giving back like all the people that paved the way for me,” he adds. “They took time out of their schedule to help me. They were selfless. No one was paying them.”

Considerations for a Mentorship Program

“There are many benefits to having a mentorship program, like more successful agents and fostering a feeling of giving back for mentors,” says Yacovetta. “It just has to be done right, and that’s the most difficult part.”

He explains what’s helped his brokerage create and maintain a successful mentorship program:

Assign someone to run it 

“A mentorship program will not get off the ground without dedicated personnel,” he says. In order to implement a formalized program, someone must have the time and capacity to run it. Consider hiring a staff member or making the mentorship program the main focus of an associate broker’s job.  

Leaders need to invest in the program

Simply deciding to create a mentorship program isn’t enough. You have to be willing to see the initiative through and make clear your investment in it. “At the leadership level, the leaders have to be passionate about agent quality and growth. They have to be patient enough to understand the plight of new agents and be willing to endure those plights.”

Bring in agents who want to be mentored

A motivated agent will be more successful in a mentorship program than one who’s uninterested,” Yacovetta says. “That’s why it’s important to consider offering mentorship to a dedicated few who really want to be mentored. “We recruit like-minded individuals who want to learn and who want to be led. So, being careful about who we bring on certainly plays a part in the longevity of the program. We’ve had 35 agents make it through the program.”

Let potential mentors voice their interest 

“If they want to be a mentor, they’re already on board,” he adds. The ones who are interested come to him to help out, and no one is ever required to do it. “They’ve already had the experience in real estate to know that new agents need help in order to survive.” They also want to provide that help to better the agent and the industry.  

Guide the trainers 

Meeting with the mentors once a week to check on their mindset, their process and how their mentees are doing keeps the program running smoothly.  To be a mentor, agents must agree to provide supervision as stipulated per their regulatory agency, and have closed a minimum of 75 transactions. 

Guide the mentees 

Those who are interested in the program meet with Yacovetta in-person, and they go over the mentorship agreement, which outlines the entire program, expectations, and criteria for graduation.

Require time together 

At Guide Real Estate, mentors must meet with their mentees at least once per week for accountability purposes, goal tracking and general support. The mentoring, however, is highly variable, Yacovetta says. Mentees are enrolled in the program for their first five transactions and must complete a series of classes and practical application tasks to graduate. The mentors can tailor their process based on what the mentee needs.

Offer the right resources 

Mentors need to ensure that mentees have access to as many educational and systematic resources as possible, Yacovetta advises. For example, they need a CRM. Also, they should know where to seek out classes to build their skill set and to stay up on their continuing education credits. A mentee also needs to know who their network is within the program. “There should be a clear phone tree in place in the event the mentee has an emergency and that mentor is not immediately available,” he adds.

The Benefits of Mentorship for the Brokerage

Islam believes if the agent advances in their business, the brokerage grows as a result.

“A brokerage should have a lot of interest in strengthening their agents, which helps them. How will they succeed if we don’t help them?” he asks. 

He also feels that those connections between mentors and mentees can flourish friendships throughout the industry, strengthening the industry.

“I have remained friends with my mentor. He knows a lot of people. He’s the connector with somebody that I want to connect with. He always introduces me to people all the time,” Islam says. 

He also believes that the new agents can teach the experienced agents things they never knew before or encourage them to try something they wouldn’t have attempted previously, like social media and new technologies. It’s a win-win for a brokerage for the different generations to learn from one another and benefit from each other’s skill sets. 

Yacovetta’s brokerage chooses to keep costs low for agents, which means they rely on agents to make sales in order to bring in money. Since that’s the case, their agents need to feel confident in the field and they need to produce. This makes a mentorship program a natural fit to boost agent—and thus, brokerage—success. 

“We only make money if they’re making money. So, it is certainly a mutually beneficial situation. We put in the time and the resources up front,” he states. “If the agent finds success, the investment pays off for everyone.”

Successful mentorship programs aren’t just a boon for the mentees, either. A good one offers incentives for the mentor as well. 

“I’ve certainly grown as an agent, a mentor and a leader,” Yacovetta says.

National Association of REALTORS®
Reprinted with permission

Personalized service and transparent communication go a long way in making a customer happy.

Starting a career in real estate can be daunting yet rewarding. Transitioning educational knowledge into building relationships with prospective buyers requires humility and a determination to perfect the craft.

When I was a newbie in the industry, my strategy began with dedicating time to learning from leaders who excelled at providing unique customer experiences that left a lasting impression. Their advice offered insight into the different dynamics of the real estate industry.

Agents look to brokers as leaders and rely on broker support to help them define and implement successful customer satisfaction practices. Brokers succeed when they are committed to leading their agents and providing them with the resources and community necessary to foster relationships.

Our success at Stone Martin Builders (SMB) is directly related to the lessons I learned through my professional community, composed of industry leaders and a diverse group of real estate professionals that I found through my involvement with local real estate organizations. As a company, we’ve learned that these three simple and effective tools have helped us maintain buyer satisfaction that exceeds expectations:

• Build dynamic teams committed to buyer success
• Be comfortable having difficult conversations 
• Customer satisfaction extends beyond the process; always aim to offer more

At SMB, being a trusted advisor to prospective buyers requires the right support. All our teams provide a seamless experience and guide home buyers through each stage of the process. Relationship building is at the helm of how we operate, which is the key takeaway for brokers to relay to their agents.

Building a relationship with the buyer and their family starts with understanding who they are, what goals they want to achieve and where they are in the homebuying journey. Once an agent understands these factors, they need to be equipped with the tools and resources to help guide buyers to their goals.

A brokerage needs to offer the right support so that agents can focus on the client. This might look like regular check-ins with agents to ensure they are committed to their clients’ goals and providing the resources an agent needs—a transaction coordinator, marketing support, educational opportunities, technology, etc.

Encourage Empathy

As experts in the homebuying space, we are all trying to empower buyers by providing the right amount of information to educate without causing overwhelm. As I train real estate professionals, I like to reinforce that we should walk alongside buyers, ensuring they understand that their agent is not here to push them into something they are not prepared for. Additionally, as buyers advance in the homebuying process, real estate practitioners should show empathy and compassion. Not all clients come with the same level of preparation and knowledge of the process, and it is the agent’s job to be their guide.

The Value of Feedback

Asking for feedback can also help an agent navigate new ways to personalize the buyer’s experience. For example, we implemented the buyer satisfaction survey. We provide this survey at three points: at closing, 30 days post-close, and one year post-close. This allows SMB to gauge what areas in our process call for improvement.

Create the Right Environment

In this industry, it is crucial to be comfortable having transparent conversations with buyers who might want to avoid important information, like the state of their finances. These conversations can oftentimes be difficult or uncomfortable for clients. But understanding a client’s financial circumstances helps inform the sale, so agents who are informed are better prepared to help their clients. As a broker, troubleshoot situations that involve uncomfortable conversations with your agents. Give agents tools to help create a relaxed environment during first introductions so that they can increase buyers’ willingness to be open about their financial circumstances.

Take the Extra Step

Agents should provide the same level of service to all clients, but they can also tailor their approach to the client’s needs. For example, when necessary, taking an extra step with detail-oriented buyers can aid in easing concerns. SMB agent teams in the Huntsville, Ala., area commonly work with buyers who are engineers or government employees who seek a deeper understanding of the building process. As an extra level of service, these agents facilitate opportunities for buyers to meet with the build team. This extra step reinforces the buyer’s trust in the agent.

In these unique circumstances, additional steps may prolong the process, but brokers will want to emphasize that agents should not be deterred. Earlier in my career as a new real estate professional, I worked with an entrepreneur who was a first-time homebuyer. This buyer needed more information to understand the process. I provided all the information and documentation needed, and it made the process longer. However, seeing the process through to completion and watching him get his keys was rewarding. We saw our hard work pay off in real time.

It’s important that brokers remember agents are representatives of the brokerage. When brokers meet the needs of their buyers and aim to offer that extra step in service, they can build a lasting relationship with the company, often resulting in referrals to family and friends who are ready to enter the real estate market.

Communicate Often and With Clarity

Delays in the home-building process that are outside an agent’s control can negatively impact customer satisfaction, such as delays in materials or inclement weather. Materials that are slow to arrive are two examples. In these situations, effective communication is non-negotiable. I have found communicating weekly with the buyer about where they are in the homebuying process is necessary to navigate the process.

Unwanted surprises can also trip up momentum. Providing photos or videos of the home in its various stages during the building process prevents these hiccups. In rare instances where quality does not meet customer satisfaction, having customer service representatives contact home buyers who have had negative experiences can help. Seeking constantly to improve, this feedback is an opportunity to gain experience, as these instances can be used as case studies for sales teams’ training efforts. Team members learn how to rectify these situations as they impact the homebuying journey.

National Association of REALTORS®
Reprinted with permission

Brokers who take an active role in agents’ success help build market momentum and company loyalty.

The real estate brokerage business is one of great fluctuation and change, often dependent on the state of the market. It’s no secret that the past several years have pushed the industry into unforeseen circumstances and opportunities. As an example, the COVID-19 pandemic propelled us forward when it came to the use of technology. It opened the doors to a new age of conducting business while being more operationally efficient. The key to moving forward and building market momentum is for brokers (and their family of agents) to evolve, be agile and have a platform and business model built that exceed consumer and industry expectations.

The “why” for the successful brokerage today, and into the future, is the agent-centric model rather than a company-first approach. That’s been a common theme for us, and it’s something we’ve aligned on in our business for a long time.

Guide Agents Toward Their “Why”

One thing that we’ve taken a deeper dive into is auditing our top producers to determine what they’re doing compared to everyone else at the firm. They all possess different personalities with different backgrounds and leverage different tactics to drive growth. What they all have in common—and what guides them to be successful—is their personal “why” and their commitment to it. If an agent isn’t committed to their “why,” the very first time they hit a bump, they’re going to stop. Our job as their business partner is to help them realize that and help them figure out exactly what their “why” is. That is our commitment as brokers and as business partners.

Once an agent establishes and commits to their “why,” they will be successful. If they’re successful, the brokerage is successful. This approach has been big for us and it’s something we live by every single day.

Now, be aware that the biggest hurdle for most agents to get there is patience. Many agents come up with their “why,” start putting in the work, say they’re committed to hitting that goal, but they pick arbitrary timelines to get there. These arbitrary timelines are not necessary, and they create stress that ultimately pushes them off the path that they need to be on.

Shift the Focus to Problem Solving 

We found another common trait that holds agents back from hitting their next level—romanticizing what got them there. They’ve fallen in love with the method and not the problem. Our role as brokers is to get agents to stop focusing on the solution and focus on the problem. If you focus on the problem, you’re going to be willing to try a million different solutions. Shifting that mindset is what gets results.

Give Agents Tools and Resources

Essentially, our brokerage is an incubator. We provide a controlled environment, both online and offline, for the care and growth of our agents. To get them to their “why” and to close more deals, brokers should first have the infrastructure in place—from a training, coaching, and development perspective. Second, they need measures and thought processes around maintaining culture and agent connection. Third, they must believe in the agent-centric process. If you believe this is the way the industry is headed, and that it’s the right thing to do for the agent, then do it.

There are any number of stresses put on a broker today, from recruitment and retention to bottom line pressures on profitability. The real estate brokerage business is dynamic and is constantly changing. It’s evolving into an agent-centric business model and developing a partnership with your agents is key to moving forward, building market momentum, and exceeding the needs and the expectations of agents and the consumers they partner with each day.

National Association of REALTORS®
Reprinted with permission

The market is always shifting, and building diverse revenue streams means your bottom line can withstand fewer sales.

In today’s market, some brokerages are finding themselves at a crossroads. “Our margins have nearly evaporated,” says Florida-based Ben Schachter, broker and president at The Signature Real Estate Companies. Sellers are negotiating for lower compensation and real estate professionals are optimizing their commission structures. Though it’s always been important, brokers are finding that creating additional revenue streams and reducing expenses are more important than ever. 

Schachter and other brokers aren’t new to the need for diverse revenue streams, though, and their experience is proving useful in the current market. The following are broker-tested options for building new revenue sources to support the bottom line.

Start a Tradeshow

Twelve years ago in South Florida, the market was slow. Noting how often businesses who relied on agent referrals were soliciting his brokerage, Schachter guessed many would pay to get in front of agents. So, he created the South Florida Realty Expo to convene as many as possible, keeping the branding generic and making admission free. Then he kept his costs low. Since country clubs depend on real estate professionals to bring them new members, one quickly agreed to host the event for free. To spread the word, Schachter bartered booth space for ad space with local newspapers. Then, he tasked a few of his agents with selling sponsorships, booths and speaking slots (they received commissions on sales).

In the end, 250 practitioners attended, 45 companies bought booths and the expo earned $15,000 in revenue. Since then, Schachter has hosted three more expos. The most recent one drew 3000 agents, 150 companies bought booths, and the expo generated $100,000 in revenue. Along with making money, these events have built Signature’s relationships with vendors.

Create a Subscription Program for Vendors

Following the same logic, Schachter realized companies would pay to pitch his 1400 agents, beyond just bringing them breakfast or lunch. So, he established an annual “preferred vendor” subscription program. To participate, they’re first vetted by Schachter. If they pass the test, they pay his brokerage an annual fee. In return, they receive the full Signature agent contact list, access to all Signature events and the chance to visit Signature offices to pitch his agents (they can pay an extra fee for a premium speaking slot at the company’s annual meeting). Plus, they’re listed as a “preferred vendor” on the Signature homepage. About 60 companies currently participate.

Establish Affiliate Businesses

Schachter devised another way to earn income from businesses: he offered some vendors the chance to “graduate” from preferred vendor to exclusive vendor partnership status, where they’d become Signature affiliates. His arrangement with each company is different, and he’s careful to adhere to the Real Estate Settlement Procedures Act (RESPA)—regulations protecting consumers during real estate transactions.

But a common model is a licensing partnership where each vendor carries the Signature name and benefits from the company’s marketing expertise. Over time, Signature has grown its network of affiliate companies to a dozen, one in each category, including title insurance, pools and construction. In 2024, proceeds from these affiliate businesses accounted for about 50% of Signature’s net income.

Close an Office

Last February, Florida-based Steve Snider, managing broker at One Sotheby’s Realty, closed one of his offices, even though it was profitable and home to 10 of his agents. The space was costing him “a few hundred thousand dollars” a year and Snider was particularly keen on making changes to keep costs low. With $20,000 of the money he saved, Snider upgraded the conference room in one of his other offices to help his brokerage land a developer client. The developer was shopping for a real estate firm with an appealing space that could be used as a sales office. Swapping out the furniture, framing the TV and adding a chandelier and drapes did the trick, and Snider’s brokerage signed the developer.

Ditch Marketing That Doesn’t Work

During a downturn a few years ago, Rhode Island-based Ron Phipps, owner of Phipps Consulting LLC, assessed his expenses. He was disappointed to learn that annually, his brokerage was generating $40,000 in revenue from leads it was purchasing for $60,000. So, he refocused his marketing efforts on the clientele his brokerage had served for the past three decades.

In one campaign, he and his agents sent emails and snail mail to residents of a 35-home neighborhood where they’d been involved in 25 of the sales. In hand-written “thank you” notes, they recognized the area as one of their success stories and invited residents to reach out if they or their contacts were ready to make a move. Then they called to follow up. Within 36 months, they’d secured five listings from this effort.

“We real estate professionals keep thinking we need to spend a lot of money to get tangible outcomes,” Phipps says. “But we already have the relationships and need to lean into them, to remind legacy customers how hard we work and the value we bring. Focus on the people who know, love and trust you, and scale that.” 

National Association of REALTORS®
Reprinted with permission

Events can lead to revenue by bringing in potential clients and establish your brokerage as a staple in the community.

For many brokerages, hosting real estate events are a necessary way to bring in business.

“Events are everything—they allow us to engage with the community, and we are nothing without our community,” says Isaiah Hazward, managing partner, The Homebound Group at Coldwell Banker Realty in Washington, DC.

The logisitics of hosting a real estate event are less important than what comes after, though. Instead of getting bogged down in event planning, agents should focus on post-event follow-up. That’s the step that leads prospects further down the sales funnel. Still, a successful event involves some planning.

Here’s how to plan events that will catalyze sales.

Create an Event Schedule

For efficiency, stick with the same event formula each year. That way, you’ll be able to plan your events budget, and your sphere of influence will know what to expect. Don’t worry though: you can still build fun and surprise into your events so that the schedule doesn’t feel stale.

• Add novelty: Hazward hosts four large annual events: a spring brunch, summer BBQ, fall get-together and winter holiday party. But he switches up the concepts. One year, his holiday party took the form of a masquerade ball. For another, he used the Reniassance as inspiration.
• Be current: To spark more interest and make things relevant, pick themes inspired by current events and trending search terms, Hazward suggests. He’s tied events to an upcoming election or Beyonce concert tour.
• Incorporate charity: Further distinguish events by raising money for a local nonprofit. In advance, poll invitees about which organization they’d like your event to support and emphasize how attendance will help elevate a cause.
• Plan follow-up sessions: You’ll be top-of-mind for those who attend an event, which means they’re more apt to attend things you plan in the near future. Schedule an educational seminar for a month after each event. Make sure you keep the topic relevant to the audience and aren’t repeating previous seminars. To differentiate yourself, discuss real estate investment rather than the ubiquitous topic of first-time homebuying, recommends Ben Schachter, broker and president of The Signature Real Estate Companies headquartered in Florida. For instance, cover becoming an Airbnb host or the process that’s involved when purchasing new construction.

Control Expenses

Schachter aims to cap his per-event cost at $200. April Harrington, on the other hand broker-owner at EXIT Real Estate Experts in Old Hickory, Tenn, hosts nine large events each year and spends about $10,000-15,000 on them in total. What you’ll budget for spending should depend on the return. Think about what kind of revenue each event type should bring in, and plan around that to ensure a profit. Consider ways to save on costs as well.

• Get co-sponsors: Invite businesses, like title companies, appraisers, financial advisors, and real estate attorneys to co-sponsor events or portions of events. Vendors have covered hors d’oeuvres, balloons, and champagne toasts for Harrington’s events.
• Save on the venue: For a large event, book a hotel ballroom for an off time, like a Tuesday—there’s a good chance you’ll nab the space at a discount, says Schachter.
• Reuse: Host open houses two days in a row (Saturday and Sunday), so you can reuse some of the flowers, drinks, decorations, and even unopened or unused food products where it makes sense.
• Avoid waste: In general, only 40-50% of RSVPs will attend, says Harrington. So, order accordingly, rather than overspending on food and drink.

Boost Attendance Numbers

Getting people in the door is the important part, and it can be tricky. Increase your odds with a combination of marketing, PR and sales.

• Spread the word: Post events on Eventbrite and promote them on social media using popular search terms. Also send press releases to local media.
• Personally invite people: “Make sure people know you want them there,” says Harrington. Reach out via text, email and phone. For open houses, Schachter tells his agents to leave postcards or Post-it notes at the 100 homes closest to their listing. They should mention they stopped by to invite each homeowner personally.
• Send reminders: Email or text a save-the-date 60-90 days out, says Hazward. Then, provide event details 30-60 days out and a reminder to invitees who haven’t RSVPed one month out. Finally, send reminders one week out and the day before the event.

Capture Leads

One of the main purposes of hosting events is to build your database. But it’s too easy to come away open-handed or with incorrect names and phone numbers.

• Require attendees to register: “Capture as much data as humanly possible,” suggests Hazward. Invite each person to bring a guest looking to buy, sell, or rent and ask for their contact information as well.
• Conduct an in-person giveaway at events: To enter, guests need to provide their contact information.
• Verify phone numbers: At open houses, suggest agents not only rely on sign-in sheets. Instead, they should offer to text guests their contact information on the spot, suggests Schachter.

Don’t Neglect Follow-up

Your agents might be tired after hosting an event. But they shouldn’t rest until they’ve completed this crucial step.

• Say “thank you”: Within a couple of days of each event, send a follow-up note, suggests Harrington.
• Share event photos: Post pictures on social media and in your email newsletter. Send them to people directly when you can.
• Talk real estate: Invite attendees to your upcoming educational session (see above) or to schedule a one-on-one real estate consultation with you.

Events raise your brokerage’s profile within the community and help you become better known. They also provide you with a roster of people that you can then turn around and share with your agents. Remember: building a database that leads to revenue and establishing your brokerage as a community pillar should inform how you plan and run your events.

National Association of REALTORS®
Reprinted with permission

A long-time agent shares the surprises, challenges and considerations of opening her own real estate company.

Many real estate professionals are hardworking, ambitious and goal oriented. No matter where they are in their career, it’s only natural for them to be thinking about what comes next. They want to be in control, have a grasp of their destiny and create a plan to get there. For those who have reached the pinnacle of success by hitting their sales goals year-in and year-out and wish to continue making a difference in the real estate industry, they may conclude it’s time to look for a new challenge.

For me, the next logical step was to become a broker-owner and manage my own shop.

My story began over 20 years ago at a local Century 21 office here in Northwest Georgia, and then as a top producing agent with ERA Prime Real Estate. After hitting a sales and personal growth plateau, I made the decision to open my own brokerage with the brand where I started: CENTURY 21 The Avenues in Calhoun, Ga.

I want to share the surprises, considerations and challenges of opening my own brokerage and how I leveraged those to achieve greater success.

Challenge #1: Choosing the Right Franchise

The biggest surprise I faced centered around the selection of a brokerage. I knew I wanted to franchise and affiliate with a company that shares my ethics and values. My biggest consideration—and one that influenced my decision to open my doors as CENTURY 21 The Avenues—came down to one word: “Why?”

My focus was on being perceived by real estate consumers and industry professionals as a champion of the communities where I live and work. What surprised me was Century 21 Real Estate would be that company. The re-branding, its focus on transforming the industry from transactional to experiential, unparalleled name recognition and respect, and C-Suite thought leaders who care about me, my agents, and my overall growth, helped seal my decision to return “home.”

My “why” aligned with that of the brand, which involves getting up and working harder and smarter than the day before. To me, if you do the right thing, then good things will happen. Plus, I didn’t find another company with the same passion that I have—and the timing in my life was perfect.

Specifically, becoming a broker afforded me the ability to invest in my future and take on the challenges that come with a leadership role. Now, I’m building a culture that supports agent growth and prosperity, and a place for people to collaborate, engage, and get deals done. Equally important, I’m bringing to market a company that works to make a difference in the community.

Challenge #2: Building Out a Team

Moving forward, my greatest challenge was building out the office. I needed to make sure I was Onboarding the right people for the right positions to ensure everyone functions efficiently, affordably and within cultural parameters. I do have people in place right now, but I’m also looking to interview and fill leadership positions in marketing and recruiting. I won’t hire someone just because they have a license. I want people looking to create a different experience at a real estate company.

Until my team is fully in place and functioning at 121%, I have decided to continue selling. I simply cannot walk away from the volume of business that I’m doing right now. The good news is that I had experience wearing both hats at ERA and earlier in my career when I opened a RE/MAX startup right out of college.

As an entrepreneur, you’re often asked, “What keeps you up at night?” My answer to that question is to make certain that I haven’t missed anything. I’m constantly reviewing my growth plan, thinking about systems and processes, and evaluating the services and productivity platforms my agents need to deliver the best client experiences, so that they, in turn, will earn industry-best quality service ratings.

The challenges I’m facing now are recruiting agents who share our cultural values and working through office renovations while operating out of a satellite office. But I’m confident I will overcome these challenges by leveraging my positive mindset, leadership skills and prior managerial experiences.

Considerations for Agents Who Want to Become Brokers

Join your local chamber

For other real estate practitioners thinking about making the transition from top producer to broker-owner, consider joining your local chamber of commerce. Get to know other professionals in your marketplace. Ask the chamber to support your office’s grand opening, which can help spread the word about your new brokerage and build those valuable relationships with members of the community.

Get involved in the community

I want to build a company that’s involved in the community. That way, people will get to know our agents. My goal is to promote the people who work here and be the local go-to brokerage that home buyers, sellers, and real estate investors value, appreciate, and rely on.

Manage your mental health

One last note: Identify what relieves your stress and motivates you to succeed. For me, it’s my partner. He listens to me, supports me, and is my voice of reason. When I feel overwhelmed and I get a little too anxious, he reasons with me and gets me through it. When it comes to my motivation, I immediately think of my grandfather. He was a business owner with an unbelievable work ethic and was an amazing human being. He was a huge influence in my life and my biggest supporter.

Going from real estate agent to broker-owner is a monumental shift. You’re moving from having the safety net of someone else’s brokerage behind you to being on your own. Yet, despite the many surprises, challenges, and considerations of opening a brokerage, having the ability to make a difference in the lives of your agents, consumers and industry partners, makes the transition from agent to broker tremendously rewarding.

National Association of REALTORS®
Reprinted with permission