In commercial real estate agency you sometimes strike the problem of deciding what to do when your employer doesn’t seem to be doing the right thing with support for the agency team. You have the choice to stay on and tolerate the problems, or you can find another agency. Don’t take too long to make a decision.
If the problems are real and substantial, they can have a direct impact on your effectiveness as an agent. I guess you will have to decide what is best if this is a problem for you, however here are some of the pressures that I have seen some agents suffer.
- High desk fees and little support
- No back up on telephones during the day
- Advertising and marketing support is missing
- Lack of confidentiality between agents from and by the support team
- Low grade proposals and information memorandums
Commercial real estate is quite special and the support process in the business or agency is of real value to helping a sales person move ahead.
Agents must have a mindset of progress and drive; that is how they get the business done. The support team on the other hand can be less focused on results and more on process. At the end of the working day the agent still needs that important proposal to be done, yet the administrative staff will say that it’s time to go home! Yes, it happens all too often.
If you feel that you must change agency, take the time to understand a few factors before you make the move. Here are some ideas to help with that.
- The commission structure has to be rewarding for the effort you will put in. Pay attention to the way in which commission grows when you bring in more listings and create greater commissions. Is there a pay back of retainer and how does that work?
- Will you have a probation period? How does it work?
- Understand just how you are controlled by area and property type. Are there any restrictions? Will those restrictions limit your market share?
- Can you introduce a buyer or tenant to a fellow agent in the office and will you get a share of the commissions?
- How is your database maintained and who owns the data?
- What is the support process when it comes to marketing, documentation, listings, proposals, letters, and email marketing?
- What desk fees will you be charged and how will that work for you?
You can likely add other topics to the list. Make the right choices about the agency that you work for and get all the facts before you move.