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Sign into your accountWhat Every Broker Should Do Series – Set Production Standards
September 08 2013
Today's real estate business is undergoing major changes as it transforms itself from the old way of doing things into something more modern and digital in nature. How business is conducted will continue to evolve but one thing will never change – a brokerage is in business to be profitable.
Profitability begins with having sales associates and ownership understand that the associates have been hired for one main reason – their potential revenue stream. One way to ensure that the associate generates enough production to cover their costs of being there, as well as provides the company with a reasonable profit, is to establish minimum production standards.
An effective minimum production standards program must be:
- Reasonable and achievable
- Trackable
- Supportive to the associate
- Consistently enforced