Compensation from Coast to Coast
By Amy Meadows, Real Estate Business Magazine, August/September 2006
Considering the Compensation Plans of CRBs Around the Country
One of the most critical decisions you must make as a broker involves how you're going to compensate your sales associates. The compensation model you ultimately choose affects everything from your ability to recruit and retain outstanding agents to your business profitability. And just like you, CRBs around the country have weighed the pros and cons of numerous compensation plans trying to find the perfect balance between satisfying the needs of their sales force and cultivating a thriving real estate company. This article highlights the successful compensation models of a broker/owner, owner/CEO and industry consultant. These real estate professionals also share some tips for selecting the right compensation structure with Real Estate Business readers.
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Strategic Business Management really forced me to examine what we do as REALTORS® and how I manage. This course is the difference between growing and increasing marketshare or going out of business.
Elizabeth Worrall Daily, CRB Candidate, Mary Worrall Associates