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PRODIGY®

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Professional

 

Tips on Brokerage Management

 

1. You may set up your brokerage firm at anytime as long as you have the broker license; with the minimum set up as a one person company, using your home address for registration or an executive office to keep the cost low.

 

2. Have a unique name that is eye catching, special and easy to remember.  Name such as "Any City Real Estate Limited" is too general and, on the other hand, too localized to trade in that city only.

 

3. If you want to run a large office, beware of your expenses.  Many brokerages, including big franchisees, could not survive in down time simply because their overheads were too heavy.

 

4. Do not enter the war of pricing to offer highest split to your agents.  You have to maintain a reasonable split between the agents and the brokerage.  Instead of lowering down your split, try to offer something unique.  For example, a coalition with other brokerage firms will give your agents a bigger exposure and a stronger network to trade.

 

5. You don't need too many top agents in your brokerage.  Top agents are good for advertising your firm.  If they are on split commission plan, their split rate would go to as high as 100%.  That means they are using your resources (secretarial services, stationery and etc).

We will keep on updating this page, please come back later.  Please go to Brokerage page for more contents.

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