Pay attention to the bolded sections (by
me)
New Reality Show Debuts – “The
Broker”.
Not The Apprentice nor The
Survivor this time it’s, The Broker. Yes, the ‘real estate’ Broker – a
combination of survivors and apprentices. The challenge facing contestants is
simple. Take all your life savings, secure a high-traffic high-rent location,
furnish it lavishly, install tens of thousands of dollars of technology, beg top
producing agents that work for other Brokers that used to be your friends to
work for you, give each agent at least 80 cents of each dollar that comes in the
front door, accept the total
legal liability for the actions of
all the agents you recruit, spend
thousands of dollars to advertise listings in newspapers knowing that no one
really reads the ads, buy a brand
franchise that collects six to
ten percent off the top of every
dollar you earn, contract with as many lead generating companies as possible
paying up to 35% referral
fees for business referred to you by
non-brokerage third-party companies, join a relocation network and discount your
business by agreeing to pay at least
another 30% on referred business
from corporations, affinity
groups (like
USAA) and other Brokers and finally,
adopt a commission schedule that provides for commission splits that are always
just higher than your competitor’s. And now contestants – for your objective.
You must do all this with this with your head-down running your business and
your rear end in the air to assure that you are a better target for all those
predators seeking a piece of your transaction
. Winners will be measured on their
ability to make more than when they started as an agent. A reality show?
Probably not. Just the reality of being “The
Broker”.
-Ken Jenny, RBSC
me)
New Reality Show Debuts – “The
Broker”.
Not The Apprentice nor The
Survivor this time it’s, The Broker. Yes, the ‘real estate’ Broker – a
combination of survivors and apprentices. The challenge facing contestants is
simple. Take all your life savings, secure a high-traffic high-rent location,
furnish it lavishly, install tens of thousands of dollars of technology, beg top
producing agents that work for other Brokers that used to be your friends to
work for you, give each agent at least 80 cents of each dollar that comes in the
front door, accept the total
legal liability for the actions of
all the agents you recruit, spend
thousands of dollars to advertise listings in newspapers knowing that no one
really reads the ads, buy a brand
franchise that collects six to
ten percent off the top of every
dollar you earn, contract with as many lead generating companies as possible
paying up to 35% referral
fees for business referred to you by
non-brokerage third-party companies, join a relocation network and discount your
business by agreeing to pay at least
another 30% on referred business
from corporations, affinity
groups (like
USAA) and other Brokers and finally,
adopt a commission schedule that provides for commission splits that are always
just higher than your competitor’s. And now contestants – for your objective.
You must do all this with this with your head-down running your business and
your rear end in the air to assure that you are a better target for all those
predators seeking a piece of your transaction
. Winners will be measured on their
ability to make more than when they started as an agent. A reality show?
Probably not. Just the reality of being “The
Broker”.
-Ken Jenny, RBSC
Interested in Learning More?
I have been been representing buyers and sellers in Charlottesville, Albemarle, and Central Virginia since 2001. Get local insight born of experience.
Dig Deeper
Always Read Covenants and Restrictions
You never know what you're going to find when you dig into Covenants and Restrictions. "1. No shop, store, trailer, temporary living structure, factory, hospital, asylum, institution, tourist home or business house of any kind, and no apartment house shall be erected or maintained on…
Revisiting the “0 to 5 Buyer is Gone” Post – 15 years later
Revisiting the “0-5 Buyer Is Gone” Theory We’re in a different market now. Some of the people who bought between 2021 and 2024 are trying to sell — and the ones who bought new construction, now competing against new construction, are having a hard time.…
A Charlottesville e-bike Success Story
I have an e-bike. I love my e-bike. I ride it to meetings all over the City of Charlottesville instead of driving my car. e-bikes are great. A friend got an e-bike. He loves his e-bike. He has a different perspective, and I asked him…
Flipping the Switch, Part 3: ADUs, Zoning, and the Practical Guide
Flipping the Switch, Part 3: ADUs, Zoning, and the Practical Guide Part 1 covered the data. Part 2 covered the design. This week: the regulatory landscape, the ADU reality check, and the practical checklist. The ADU Conversation Has Changed When I wrote about this in…