Brokers run their brokerage, which means attracting and keeping agents, filling the client pipeline so their agents have a leg up, marketing to compete with established national brands, determining agent compensation model, reviewing financials, and keeping ahead of new software, laws, and trends, among other considerations. Buying and selling should not be on any successful broker’s radar except to find ways to support your agents leading to agent sales. So, unless you’re planning on keeping your new brokerage to just a few agents, allowing you to continue to work directly with buyers and sellers to some extent, you are in for a mind shift.
You must think like a broker and support your agents to grow and prosper. Profits depend on the productivity and staying power of your agents, so you must continually stay focused on agent productivity and happiness under your business model. Attention to your agents wans if you are still focused on directly selling properties yourself, and profits will plunge with agent neglect. As an independent broker, you must remain mission focused based on your evolving business plan, which sets you up, with the help of your agent’s sales accomplishments, as the driving force behind your company’s prosperity.