Recently in "Broker Talk"

This week I changed my real estate brokerage affiliation from a franchise and am now an independent. I’ve done a lot of soul searching about which path to take, and suffice it to say that at the end of the day, I see more value in my own name and my brand, than any franchise. Perhaps I should have gone down this path from the start, when I opened up, but that’s water under the bridge.

More .... http://agbeat.com/editorials/leaving-a-real-estate-franchise-to-become-an-independent-broker/

Becoming a Broker

  4 Comments

Hello fellow ACERs. 

I am aware of the requirements to become a Broker. I am looking to speak/email with someone that can go over the costs associated with opening my own company as a broker independent of a franchise.

Any information or help would be greatly appreciated.

Thanks

Trent

trent.seidl@yahoo.com

Changing Paradigms Is Tough Work

  1 Comment

By Jose Perez  

We all know the mantra…you have to change to survive these days. That said, how many people are stuck in the old paradigms and not doing enough of the right things because they are afraid of upsetting the people around them?

Too many, in my opinion! Let me give you some examples:

I have been working on an office procedural process for hourly fee/fee-for-service transactions…  As always, I tend to over think it and wonder how I facilitate transactions once other brokers in our office become ACRES.  Granted we have procedures for processing paperwork for the traditional model, but besides state and local fees, does anyone have a suggestion on how the brokerage itself should charge brokers for facilitating hourly fees/fee-for-service transactions….  I am not asking for a specific number, just a general idea of what other office owners are doing… 

I am a huge fan of Go Daddy and wonder has anyone used them to develop a website which implements an online calculator to compute a client’s fees then offers PayPal or Google Checkout to process these transactions?  ACRE has a great website members can purchase as an individual broker but does ACRE have advice  for online facilitation for hourly fee/fee-for-service models? 

 I will call Go Daddy tomorrow and see what suggestions they have for a storefront application…  I think traditional banks would be too expensive for their storefront applications…  

I feel fairly comfortable with my specific fee schedule but uneasy when it comes to brokerage procedures when processing transactions for our brokers who will soon be ACREs.

I gave IE9 the boot...  Too much trouble!!

 

Calling ACRE Brokers

  9 Comments

I am the broker of a large office which operates on commission fees. I believe that some consumers will opt for consulting fees if given the choice and I am curious to know how brokers are splitting the fees with their sales associate.

In our office there is a minimum cost to open and process a transaction which attracts a file fee to the sales associate, If a sales associate did a small consultation there would often be very little left for them after office fees.

I am hoping to generate some discussion around this topic with brokers or sales associates who are currently using the consulting fee model or anyone else who has information or opinions on this topic.

ACRE wants to help us succeed! Anyone interested in participating in a Virtual Mastermind Group of ACRE Brokers, please chime in and/or contact me directly.

Some topics of discussion include:
Where are you with using the ACRE model?
What have been your successes?
What have been your failures?
What are drivers for your success?
What are the barriers that prevent you from success in using the ACRE model in your brokerage?
How do you structure compensation?
Sharing of best practices....and other topics that the group would like to focus on.

Please let me know if you are interested in participating, some time blocks of when you would be available for conference calls and how frequently you want to hold calls (once a week, 2x/month, once/month,once/quarter).

Once we understand the interest level, Ron Stuart and I will coordinate and post details. I look forward to hearing from you!

Thank you,

Stacy Erickson (ACRE Broker Liaison)
Broker/Owner
Halcyon Realty Group
Mesa, AZ
Stacy@AZHRG.com

Consulting Brokerage?

Below is the text of a message sent out earlier today to known ACRE® Brokers. To cover the possibility of missing anyone, as well as to solicit input from others, I reproduce it here:

Dear ACRE® Colleagues:

You are receiving this missive because you are both a Broker and an ACRE®.

As part of the ACRE® Webinar Series we would like to pull together the collective opinions, knowledge, wisdom and experience of the ACRE® Broker Community as it relates to the idea of setting up and operating a “Consulting Only Brokerage.” It will probably take the form of a Moderated Round Table Discussion and your participation will be important.

At this point we need an indication of your interest in the subject, whether or not you might be willing to participate and generally your thoughts on the idea. We look forward to hearing from you this week at seminars@theconsultingtimes.com .

Best regards,

Ron Stuart
ACRE® Teleseminar/Webinar Coordinator

I was trying to discuss with a broker friend of mine the beauty of the ACRE. Her initial and unbendable issue was that the E and O coverage would be more than the worth of the program to her as the broker. Is there alternative waivers or something to protect the brokers against these litigious suits if there is only $150.00 per hour or task to pay for the high cost of the E and O deductible verse the 3% which in the eyes of this broker better cushions the blow. She is the broker owner of 2 large Keller Williams franchises and would be "THE FIT" for our mutual goals. THOUGHTS???

Is the retainer fee check issued to the Broker/Company and run through the Broker
like a referral check?

Making Billing Easy

For those that are making this new consulting method work for them, if you're like me, the issue of billing brings questions related to making it easy on myself while still serving my clients. I have long been a very happy user of PayPal for Business. I use the debit/credit card for 1% off on all purchases and the ability to create custom invoices that I email to clients. They can just click a button or link in the email and pay via PayPal or any credit card. PayPal charges a 2.9% fee on each transaction, and to some that seems high. However, there are no machine costs or any other costs associated with it. Coupling that with the 1% cashback credit card, and I'm saving money over my previous credit card merchant account. Their reporting is excellent for accounting also. The system will even allow you to send reminders when payments are past due.

Recently, in conjunction with my ACRE™ certification, I found Billing Orchard. I still use the PayPal account through BO, but get a lot more customization ability for invoices and setting up individual items for my different hourly rates or package pricing. BO keeps track of my clients, allows emailing to the group, sends past due reminders and other functions that are well worth the cost. The look of the invoices is customizable and more professional than the PayPal invoices.

Just thought I'd throw these out for those looking for easy billing options that are customer friendly.

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