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There are a lot of real estate brokers out there heading up many different models. There are broker-owners, brokers who oversee entire states, brokers who work for large brokerages and brokers who head up one-person companies. I think if a broker really knew what they were getting into prior to taking on this position, they may have thought twice about it, as the challenges are many, and the skills needed to be successful as a real estate broker are more than they appear to be.
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Being a broker takes an unusual set of skills, as you have to be entrepreneurial enough to make money but also be able to serve the agents that you lead in a meaningful way. It is not easy to balance these two skill sets, and most people lean one way or the other, which may not be ideal for this position.
So, after doing this for a while and meeting brokers from all over the country, make that the world, I have come up with 10 characteristics that I have observed of great real estate brokers. Should you possess many of these traits, your office will be a success for sure.
How many do you possess, and which ones do you need to work on?
- Great brokers are really good at hiring people, both staff and agents. Like sports coaches, they are master recruiters and can consistently bring in new extraordinary talent to their offices. They always surround themselves with the best staff.
- They have the ability to keep all the balls in the air at the same time. They achieve consistent growth in all areas. They don’t slack off on one thing to excel in another. That’s why they have a great staff.
- They are very eager to learn and get better. You can always find them reading a book or taking a class, even when they ran out of time hours ago. They are always seeking new information that will make them better.
- They never stop working. Their brokerage is always top of mind, and they are always in total control of the direction it is taking. The best ones like to be in control, much like a top-producing agent.
- They are easily accessible. They are easy to reach and fast to get you what you need. They do not procrastinate.
- They are masters in time management. They are generous with time when needed and selfish with it when needed as well. This could be the most important characteristic of all, contributing to their success.
- They are master delegators. They delegate everything that they can but watch everything from a distance as well. This gives them the time to do the most important things for the bottom line.
- They are passionate about succeeding, and their agents like them. They are good people with good hearts.
- They create a positive, productive business environment and structure for their agents to thrive in and find success.
- They are master communicators. They keep the information flowing between the office, the staff and their agents. They stay in communication with all their agents all of the time so they can address issues as they come up.
So, there you have it. Like any position, there are certain traits and skills that are conducive to success. Many of these brokers have these characteristics within them naturally, and the best are always striving to get better at the skills that they do not possess.
Being a broker is a challenging job, but also one that you can get great satisfaction from, as you can play a role in the success of many people in many ways. The one thing that comes through very clearly about successful real estate brokers is that they really love what they do.
Joseph Santini is a managing broker at Coldwell Banker Realty in Boca Raton, Florida. Listen to his podcast or connect with him on LinkedIn.
