Our members are in the process of recommending Managing Brokers and Agents who they believe are a good fit for our profit sharing model. When the on-boarding process is complete there will be approximately 22,000 Agents in the United States and its territories and 3,600 Agents in Canada. In addition, there will be approximately 300 Managing Brokers.
The world of residential real estate has many different players, including appraisers, home inspectors, property managers, contractors, bankers, mortgage loan officers, and government agencies, as well as prospective buyers and sellers. But, the workhorses of the typical real estate transaction are the people that coordinate the process—the Agents and Managing Brokers. For purposes of this discussion we will refer to Agents, Brokers and Managing Brokers as “Broker”.
A good Broker is similar in nature to a conductor of a symphony, coordinating the different players to make a successful transaction a reality. At different points in the process, the Broker is a salesperson, a buyer’s advocate, an analyst, a business manager, a consultant, a negotiator, and a marketer, just to name a few.
There are over 1,000,000 REALTORS® in North America. It is our prediction within 5 years there will be fewer than 400,000 because of platforms like Dorothy.comSM. There are over 1,000,000 REALTORS® in North America. It is our prediction within 5 years there will be fewer than 400,000 because of platforms like Dorothy.comSM. We are currently looking for Brokers to on-board for your state. We provide referral bricks for any successful recommendations. Successfully on-boarded Agents will earn you 500 bricks and successfully on-boarded Managing Brokers will earn you 5,000 bricks.
Dorothy.comSM provides the processes and tools to augment the required traits. We have found the following qualities and traits are shared by successful Dorothy.comSM Brokers.
1. Life-Time Continuous Learning. In the past staying up-to-date on the latest real estate issues in the local market would allow a Broker to service clients. In tomorrow’s world, the Broker is required to learn about new technologies and processes monthly. Continuing education and professional development are doors to opportunity a Broker must use to enhance member experience.
2. Build a shared network of connections. In the past a successful Broker would have a personal rolodex, spreadsheet, CRM list of contacts within the market they serve. The list would include other real estate agents and brokers, potential buyers and sellers, and all the other players in the real estate industry, such as appraisers, home inspectors, and mortgage loan officers. With Dorothy.comSM the Broker builds an even higher base of knowledge as all Brokers share information and are compensated for sharing information. Duplicate data of any type does not exist. Uniquely organized repeatable Knowledge is POWER.
3. Understand the local housing market. A top producing Broker appreciates and utilizes the nuances that make a specific community’s housing market and pricing strategy unique. Success comes from identifying and developing a focus or niche in the local real estate market that allows the Broker to distinguish themselves from the competition. The Dorothy.comSM profit sharing model uniquely differentiate the Broker from all competition. Dorothy.comSM’s integrated database of appraisal, sold, active, trends provide single login access to data to improve member experience.
4. Attention to detail. Paying close attention to the details is imperative for a Broker’s career. A Dorothy.comSM Broker is attentive to the unique needs of their individual member. If a Broker is well organized, follows up with leads, communicates well, and pays attention to the needs of the member, they will close more deals. Dorothy.comSM provides artificial intelligence and cognitive thinking that ensures each step of the Buying, Selling, Renting, or Prospecting process is followed without a human assistant.
5. Engaging personality. A good Broker doesn’t just buy, sell and rent properties—they service members. It’s important to have a real personality. People respond to the Broker who has a great attitude, is reasonable, honest, and confident. Our Brokers obtain a sense of fulfillment by serving others.
6. Interest in houses and architecture. Having a true interest in houses and architecture can give a Broker an advantage over other agents. If the Broker’s knowledge and interest level is apparent in conversations, members will see the Broker cares about the profession and the member.
7. Hustle and tenacity. Being a top producing Broker requires a great work ethic. The successful Dorothy.comSM Broker has the tenacity to pursue every lead and the hustle to aggressively market member properties. It’s not just about putting in a lot of time—it’s about working smart, putting in the right amount of time, and doing whatever is necessary to close the deal. Dorothy.comSM provides the daily focus needed to assist in the prospecting/closing process. Tools are in place to measure and direct the process: Awareness, Knowledge, Liking, Preference, Conviction, and Close. This integrated success funnel provides more time for hustle, tenacity and member service.
8. Honesty, integrity and 360˚ feedbacks. A Broker’s professional reputation is crucial to a long and successful career in real estate. Becoming a member of the National Association of REALTORS® is one way to show the Broker practices high ethical standards. The Broker must be willing to adhere to a code of ethics, standards of practice and to receive constructive feedback on each transaction.
9. Self-motivated entrepreneur. Having a desire to control their own professional destiny and be their own boss is a trait shared by Dorothy.comSM Brokers. To be successful in real estate requires a high degree of self-motivation, drive, and smart decision making. Since we limit the number of Brokers to the available local population; our Brokers service members instead of competing with another broker in the same office selling the same product (the MLS). We provide the predictive process steps and knowledge for our Broker to be successful.
10. Problem solver “Opportunity” mindset. Does the Broker enjoy coming up with creative solutions to problems or issues? Our members and Brokers are compensated for providing ideas and suggestions. The Dorothy.comSM platform will change as quickly as the opportunities are identified.