Broker to broker [electronic resource] : management lessons from America's most successful real estate companies

praise For Realtor? Magazine's Broker To Broker By Providing Best Practice Management Tips With Thought-provoking Ideas, Broker To Broker Offers Invaluable Guidance On Virtually Every Aspect Of Our Dynamic Industry. The Book's Easy-to-read Format, With In-depth Supporting Material Available Online, Is An Innovative Approach To Helping The Country's Brokers And Managers Find Effective Solutions To Today's Challenges. —ron Peltier, President And Ceo, Homeservices Of America, Inc., Minneapolis, Minnesota This Compilation Of The Latest Realtor? Magazine Articles On Real Estate Brokerage Management Could Be Of Help To Brokers And Managers Looking For Practical Ideas To Boost Their Operations. The Book Quotes Extensively From Veteran Brokers And Managers Who Are Trying New Ways To Build Sales And Tackle Problems. Within The Book's Range Of Articles Could Be Helpful Ideas For You. —j. Lennox Scott, Chairman And Ceo, John L. Scott Real Estate, Seattle, Washington The Editors Did Their Homework. The Pace Of Change In Our Business Is A Constant Challenge. Even If You Don't Want To Lead The Charge In Industry Change, Brokers Would Do Well To Study The Innovative Concepts (such As The Employee-agent Model) Illustrated Here. The Section On Operations Is Particularly Useful For Brokers Of A Multi-office/multi-region Operation. —steve Brown, Abr?, Crb, Vice President And General Manager, Crye-leike, Realtors?, Memphis, Tennessee The Editors Of Realtor? Magazine Do A Fantastic Job Of Keeping Realtors? On Top Of All Real Estate Concerns. No Issue Is More Timely Or Essential To Building Good Business Than Brokerage Practices. —blanche Evans, Publisher, Agent News, And Editor, Realty Times, Dallas, Texas Broker to Broker......Page 5 Contents......Page 7 Foreword......Page 11 Introduction: Bringing Management Best Practices to You......Page 13 Section I: Managing Operations......Page 19 Boosting Your Bottom Line......Page 21 Taking Control of Your Accounting......Page 26 Preparing for a Financial Turn for the Worse......Page 29 Calculating Associate Compensation—The New Rules......Page 31 Running Multi-Office Loan and Title Companies......Page 37 Growing without Adding Staff......Page 39 Disaster-Proofing Your Brokerage......Page 41 Dealing with a New Competitor......Page 46 Go Commercial—and Help Your Residential Business......Page 48 Increasing Foot Traffic through Your Door......Page 54 Winning the Publicity Game......Page 56 Handling Negative PR......Page 63 Getting the Most Bang for Your Ad Buck......Page 65 Growing Your Business......Page 72 Scenario Planning: Take Your Future in Hand......Page 77 Business Models: New Approaches to Profitability......Page 82 Business Models: Full-Service vs. Limited-Service......Page 88 Helping Associates Work Better, Faster, Smarter......Page 93 Spinning Returns from Your Investment......Page 98 Supporting Your Systems without Spending a Lot......Page 102 Unplugging Your Associates......Page 105 Starting Up in a Big Rival’s Backyard......Page 112 Providing Liquidity to Net Customers......Page 114 Adding Home Styling to Your Services......Page 115 Catering to City Dwellers on a Country Purchase......Page 117 Making Downtown Revitalization a Niche......Page 118 Tapping Technology for That Whizbang Effect......Page 120 Attracting Clients through a Blend of Business and Art......Page 121 Learning from the “Fixer-Upper” Franchise......Page 123 Building a Big Following in a Small Town......Page 125 Serving the Hispanic Investor......Page 126 What the Timeshare Niche Is All About......Page 128 Working with Others to Leverage Buying Power......Page 130 Making Your Storefront Interactive......Page 131 The Next Level for Apartment Locator Services......Page 133 Section II: Managing People......Page 137 Shrink Your Washout Rate......Page 139 Attracting and Keeping the Best......Page 144 Why Associates Work Where They Do......Page 151 Behavioral Testing: Hire Recruits That Fit In......Page 155 Inclusionary Recruiting : Brightest under the Rainbow......Page 160 Four Steps to Rookie Success......Page 164 Work-Life Balance: Got Health?......Page 166 Keeping Associates Attuned to Safety......Page 171 Personal Safety Guide......Page 172 Know Sexual Harassment When You See It......Page 173 Helping Associates Cope with Personal Crises......Page 175 Achieving Work-Life Balance......Page 177 Office Design That Keeps Associates on Top......Page 181 Adapting to Life with Gen X......Page 186 What Career Means to Generation X......Page 190 Now Comes Generation Y......Page 196 Keeping Rivalries in Check......Page 197 Training Associates to Succeed......Page 202 Managers That Sell: When to Stay in the Game......Page 207 Offering Annuities to Spur Recruitment......Page 211 Complementing Traditional Associates with Salaried Division......Page 213 Paying Salaries, Charging Fees......Page 214 Freeing New Associates from Pressure of Selling Fast......Page 216 Letting Associates Take a Company Equity Stake......Page 218 Motivating Associates through Personalization......Page 219 Training Associates to a T......Page 221 Section III: Managing Risk......Page 223 Living with Litigation......Page 225 Addressing Top Legal Concerns......Page 230 Test Your Antitrust Knowledge......Page 235 Heading Off Privacy Complaints......Page 238 Understanding Internet Copyright Law......Page 240 Know How to Give Legal Testimony......Page 243 Fair Treatment in Dual Agency......Page 245 Trademark Correctly......Page 248 Avoiding a Breach: Fiduciary Duties Clarified......Page 251 Commission Rules for Departing Associates......Page 253 Employment Law: Who’s Exempt?......Page 256 Avoiding Pitfalls......Page 260 Proper Documentation Keeps You out of Legal Trouble......Page 264 Improving Customer Service......Page 267 Lowering E&O Premiums through Customer Service......Page 271 The Right Amount of E&O Insurance......Page 276 Making Dispute Resolution Work......Page 278 How to Handle Multiple Offers......Page 281 Upholding the Standard of Care......Page 284 What to Know about Synthetic Stucco......Page 287 What to Know about Stigmatized Properties......Page 289 What to Know about Mold Liability Risks......Page 292 Protecting Your Name against Identity Thieves......Page 295 Knowing Loan Fraud......Page 298 Understanding Buyer Rep Lead-Paint Disclosure Duty......Page 301 Liability for What You Don’t See......Page 304 About the Contributors......Page 308 About the National Association of REALTORS......Page 312 About the REALTOR Code of Ethics......Page 313 Company Index......Page 315 Subject Index......Page 318

Praise for Realtor? Magazine's BROKER to BROKER "By providing best practice management tips with thought-provoking ideas, Broker to Broker offers invaluable guidance on virtually every aspect of our dynamic industry. The book's easy-to-read format, with in-depth supporting material available online, is an innovative approach to helping the country's brokers and managers find effective solutions to today's challenges."
--Ron Peltier, President and CEO, HomeServices of America, Inc., Minneapolis, Minnesota "This compilation of the latest Realtor? Magazine articles on real estate brokerage management could be of help to brokers and managers looking for practical ideas to boost their operations. The book quotes extensively from veteran brokers and managers who are trying new ways to build sales and tackle problems. Within the book's range of articles could be helpful ideas for you."
--J. Lennox Scott, Chairman and CEO, John L. Scott Real Estate, Seattle, Washington "The editors did their homework. The pace of change in our business is a constant challenge. Even if you don't want to lead the charge in industry change, brokers would do well to study the innovative concepts (such as the employee-agent model) illustrated here. The section on operations is particularly useful for brokers of a multi-office/multi-region operation."
--Steve Brown, ABR?, CRB, Vice President and General Manager, Crye-Leike, Realtors?, Memphis, Tennessee "The editors of Realtor? Magazine do a fantastic job of keeping Realtors? on top of all real estate concerns. No issue is more timely or essential to building good business than brokerage practices."
--Blanche Evans, Publisher, Agent News, and Editor, Realty Times, Dallas, Texas

Written for the office managers of the over 168,000 registered realtors, Broker to Broker: Management Lessons From America's Most Successful Real Estate Companies helps brokers make the most of their business. This book takes previously published articles from Realtor Magazine and brings them together in one volume This book brings together articles from Realtor Magazine in a single volume to help brokers make the most of their business. Organized into 3 sections - Managing Operations, Managing People and Managing Risk - it is an essential resource for managers in real estate offices.