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Hi, I'm Mom! (aka Principal Broker for Dan Stewart Realtors)
I've had several new agents in the last couple of years, as well as some of our
long-time agents, talk to me about what's being said on the local real estate
recruiting scene.
I just wanted to note a couple of things; but, first, I want to say that Dan Stewart
Realtors is more of a family than a business and we have never tried to
compete with other firms. We have our core values and those don't change!
long-time agents, talk to me about what's being said on the local real estate
recruiting scene.
I just wanted to note a couple of things; but, first, I want to say that Dan Stewart
Realtors is more of a family than a business and we have never tried to
compete with other firms. We have our core values and those don't change!
Now, these are the top complaints I've been hearing about local recruiting...
First, the rampant claim that you'll receive free services with no fees and you'll still keep 100% in
commissions. You may be keeping 100% of your commissions, but I guess the monthly office fee or
similar, plus any transaction fees, are being paid out of your savings account.
Second, a local firm is claiming to offer more resources than any other firm in town. I was always taught to
use words such as "always" or "never" sparingly because it's hard to back up such words. I've read some
of these recruiting emails that claim you'll be getting free services including the syndication of your listings
to Internet sites such as Yahoo!, Craigslist, etc. In the summer of 2008, our local Realtors board sent
instructions to all 4000+ agents in town on how to syndicate listings by using a free listings syndication
service. It took us five minutes to sign-up for that...on the day we received the notice.
details about minimum deals required per year, etc. I've heard that word deceptive used several times. One
example relayed to me is a realty firm giving something for free when the service is available, for free, to all
Tennessee Realtors. I'm referring to the free Transaction Desk software, which automates the transaction
Third, I've heard feedback that local recruiting efforts are misleading, often lacking the fine print telling you
process. It is offered by the Tennessee Association of Realtors. You can upgrade to a full version; but, the
Third, I've heard feedback that local recruiting efforts are misleading, often lacking the fine print telling you
basic version is free.
Fourth, in addition to hearing that local recruiting emails don't fully-disclose all the disclaimers up front, I've
also heard that firms are making claims that you have access to technologically-savvy staff members. In
this day in age, who doesn't? I checked one of these firms who says they offer the latest and greatest but I
don't see them offering a free online resume page like we do (published within 2 hours for every agent who
wants one). We know of one firm that charges $50 for each resume or "bio." We can say that we are offering
it for free because we have an agent who gives of her time for free, day after month after year......
Why does she do it? Because she's a part of our "family" and she wants to see our group succeed! We
don't collect a $100/mo., or more like most local firms, to cover these services.
Think about this: if we had 500 agents and we charged $100/mo. (call the "fee" by whatever name you
want), then I would be raking in $100,000 every month....that's $600,000 every year. Now you know why
many local firms are known for making more money off their agents than in closings.
I've had some of our agents say they were personally called to be recruited but they said they weren't going
to leave "Mom" ...so I think that's a credit to what I've tried to be to Dan Stewart Realtors.
You know, we've had a virtual-type office setup for years; but, we still require agents to pick-up their office
mail and come to an occasional sales meeting (which often leads to fellow agents learning about recent
listings we've acquired and that can lead to closings!). Who wants to feel isolated by never interacting with
other agents? If you stop in the office occasionally, you may just hear about the next great "deal."
When you cut through all the promises, you'll often see a different perspective on things! Rarely is anything
ever free or the way it appears to be! -Mom
First, the rampant claim that you'll receive free services with no fees and you'll still keep 100% in
commissions. You may be keeping 100% of your commissions, but I guess the monthly office fee or
similar, plus any transaction fees, are being paid out of your savings account.
Second, a local firm is claiming to offer more resources than any other firm in town. I was always taught to
use words such as "always" or "never" sparingly because it's hard to back up such words. I've read some
of these recruiting emails that claim you'll be getting free services including the syndication of your listings
to Internet sites such as Yahoo!, Craigslist, etc. In the summer of 2008, our local Realtors board sent
instructions to all 4000+ agents in town on how to syndicate listings by using a free listings syndication
service. It took us five minutes to sign-up for that...on the day we received the notice.
details about minimum deals required per year, etc. I've heard that word deceptive used several times. One
example relayed to me is a realty firm giving something for free when the service is available, for free, to all
Tennessee Realtors. I'm referring to the free Transaction Desk software, which automates the transaction
Third, I've heard feedback that local recruiting efforts are misleading, often lacking the fine print telling you
process. It is offered by the Tennessee Association of Realtors. You can upgrade to a full version; but, the
Third, I've heard feedback that local recruiting efforts are misleading, often lacking the fine print telling you
basic version is free.
Fourth, in addition to hearing that local recruiting emails don't fully-disclose all the disclaimers up front, I've
also heard that firms are making claims that you have access to technologically-savvy staff members. In
this day in age, who doesn't? I checked one of these firms who says they offer the latest and greatest but I
don't see them offering a free online resume page like we do (published within 2 hours for every agent who
wants one). We know of one firm that charges $50 for each resume or "bio." We can say that we are offering
it for free because we have an agent who gives of her time for free, day after month after year......
Why does she do it? Because she's a part of our "family" and she wants to see our group succeed! We
don't collect a $100/mo., or more like most local firms, to cover these services.
Think about this: if we had 500 agents and we charged $100/mo. (call the "fee" by whatever name you
want), then I would be raking in $100,000 every month....that's $600,000 every year. Now you know why
many local firms are known for making more money off their agents than in closings.
I've had some of our agents say they were personally called to be recruited but they said they weren't going
to leave "Mom" ...so I think that's a credit to what I've tried to be to Dan Stewart Realtors.
You know, we've had a virtual-type office setup for years; but, we still require agents to pick-up their office
mail and come to an occasional sales meeting (which often leads to fellow agents learning about recent
listings we've acquired and that can lead to closings!). Who wants to feel isolated by never interacting with
other agents? If you stop in the office occasionally, you may just hear about the next great "deal."
When you cut through all the promises, you'll often see a different perspective on things! Rarely is anything
ever free or the way it appears to be! -Mom