BCREA - Managing Brokers Conference
At the recent BCREA - Managing Brokers Conference in Vancouver, there were folks in attendance who remembered when relationships between brokerages and agents were much different. The brokerage provided most of the services, splits were often 50/50, and there was more of an office team attitude. Then came the race to the bottom - which brokerage could give the most commission to the agents and survive by offloading services. The agent switched to an independent contractor attitude.
The challenge nowadays, is that BCFSA and FINTRAC view you and your agent as a team - non compliance by the agent impacts the brokerage. You provide your agents with a tool like REALTYnuance©, and some agents simply use it to submit deal sheets, failing to create valuable audit trails.
We heard all about leadership at the Conference. These days, Managing Brokers need to re-instill the "we're in this together" attitude and have it mandatory with the tools that will help avoid penalties, fines and loss of licenses.
A Managing Broker Pro tip: Meet with an agent a day and review the extent of their use of REALTYnuance© in creating audit trails. There are regularly scheduled basic and advanced training sessions that we will keep you updated with. More sessions will start in the New Year.
And a Parting Thought: What would you tell your agent to do if a Buyer refused to sign an exclusive buyer agency agreement? Wouldn't the same apply to someone who refuses to protect your brokerage?
