Press Release

Compensation Plan Benefits Top Real Estate Producers and Agency Ownership

(Boonton, NJ, June 1, 2009) — At Coldwell Banker Walter Williams Realty, top producers chafed at the realization that they were carrying the company.

And the company's owners fretted that their profits had disappeared along with Florida's real estate boom.

The June 1 issue of industry newsletter Real Estate Broker's Insider reports that the Jacksonville-based company took action by revamping its compensation plan with the help of David Cocks of Compensation Master.

Cocks helped the brokerage make a number of changes that gladdened top producers and ownership. In fact, the only agents who didn't appreciate the changes were the least productive salespeople, Monica Hentschel, regional managing partner at the firm tells Real Estate Broker's Insider.

The most important change: Establishing a breakeven point for agents that allowed the company to cover its expenses and make a 5 percent profit.

In a nod to transparency, Hentschel made no secret of the company's profit margin. "We were very open and honest with the agents," Hentschel says.

The process had the benefit of letting agents know just how thin the profit margins are for brokers.

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