Recruiting a Top Producer May Not Be Worth It
Six profit building tips for residential real estate brokers, owners, and managers.
(Boonton, NJ, February 13, 2014) — Many brokers make the mistake of hotly pursuing a top producer by offering a favorable split and administrative support.
But says Loren Wallace, of Lone Wolf Real Estate Technologies, You recruit that top guy, and you give him such a great split that you dont make a lot of money off him.
The agents doing $70,000 a year who never gripe about splits and fees are the bread and butter, he adds.
Even worse, top producers can be disruptive.
Wallace says he has seen instances of a top producer arriving at a firm and competing so hard for business with the companys existing agents that other agents left.
In the February issue of Real Estate Brokers Insider, Wallace shares this and five additional profit tips for agency brokers, owners and managers.
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