Part 4: Even Compensation, It’s a Win-Win-Win
Co-Broker Compensation Evens Out for All Brokers:
When talking to agents at other companies, they are often concerned that they would not want the additional expense of paying a Co-Broker, but what they don’t realize is that they too will be selected to be on a team and will be the recipient of Co-Broker income.
In a study we did two years ago, our Senior Brokers earned as much as their counter-part Associate Brokers during that given year. The reason is simple, Senior Broker compensation is higher than Associate Broker compensation and since everybody is required to have a Co-Broker, it usually comes out evenly. For example, if you have 14 transactions as a lead broker, you will share a nominal portion of the income with your selected Co-Broker. On the other hand, you will also likely be chosen to act as the Co-Broker on 14 other files. So, effectively, you may net out nearly the same amount of money.
The true benefit for all agents is not the additional income, but rather the early exposure they may have to upcoming listings and buyers that may inspire them to make proactive calls to clients they may have not otherwise thought of due to the collaboration of working on exponentially more files. The other bi-product is education. Our brokers learn at an accelerated rate due to their cross exposure of working with different agents on vast varieties of properties throughout the city.
It is truly a Win – Win – Win
Our clients win by having access to two full time brokers who are dedicated to their success. Our Senior Brokers win by being able to be in two places at one time, providing better service, and by being able to delegate field tasks to their co-broker. And our Associate Brokers win by gaining invaluable experience working side by side with experienced Senior Brokers and learning the trade.
Hear From Our Brokers:
“Having been in business 13 years as a solo agent before joining ELEETE, I wasn’t quite sure how I felt about using the Co-Broker system that Lee had developed. So, admittedly, I approached it with some reluctance. What I didn’t realize was how much I would grow to enjoy collaborating with others in this office. For me, it makes work SO much more fun. I haven’t experienced anything like the “team player” attitude we have here – it’s really quite unique. And, each year with ELEETE, my business has grown. With the staff to take care of the marketing, my time is free to meet with clients. And, while I think my Co-Brokers have benefited from working with me, I can honestly say I have benefited just as much, if not more. I’ve found a Co-Broker who is a perfect fit for me. She brings fresh ideas and perspectives and pushes me to try things I haven’t wanted to attempt on my own. My clients adore her, and it takes a lot of pressure off me to handle every detail. I love what our team has been able to create and accomplish and now I can’t image doing it any other way! I hate to admit it, but after 30+ years of experience, when it comes to providing exceptional customer service while promoting Broker life balance, Lee knows!” – Renée Harper, Senior Broker
