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Residential Real Estate Broker Boosts Profits by Hiring Novice Managers

After seeing an outsider bring energy, accountability, and professionalism to a money-losing office, this broker changed his approach.

PRLog - Dec. 5, 2012 - BOONTON, N.J. -- Perplexed about how to turn around a struggling office, Todd Hetherington took a chance. He hired a retired military officer with no real estate experience to run the branch.

Hetherington tells Real Estate Broker's Insider that the move was a long shot, but he gave it a try anyway — and the move changed the way he runs his 773-agent company, Century 21 New Millennium in Alexandria, VA.

Since then, Hetherington has hired a dozen more real estate outsiders to run his offices. The result has been greater profitability, accountability, and professionalism.

Three important lessons that Hetherington learned:

* Real estate experience doesn't matter. Energy and management skills are key.

* Pay should be generous. Hetherington's salaries are $200,000 to $300,000.

* Managers should be paid based on the office's performance.

Learn how Hetherington hires new managers and integrates them into his offices in the December issue of Real Estate Broker's Insider.

About Real Estate Broker’s Insider

"Real Estate Broker's Insider" provides residential real estate agency broker/owners with actionable news and information on managing their businesses for greater profitability.

Website: http://www.BrokersInsider.com

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Source:Real Estate Broker's Insider
Phone:(973) 265-2300
Location:Boonton - New Jersey - United States
Industry:Real Estate
Tags:broker/owner, agent, angency
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