The real estate industry has reached a new stage of evolution. Growth is a process and doesn’t happen overnight. Just like those perfect homeowners with green thumbs, it's critical to know when it's time to prune the plants. A trim here and prune there is how you spark development for the future. The same concept applies to brokers leading their offices through adversity with intentionality and a solid framework.

Traditional and independent brokerages should take a hard look at some of the real estate changes and legal outcomes in 2024. They should get a game plan together and ask agents critical questions about their experience in the field. What are some things that can be fixed or things that need to be addressed? What are some common misconceptions about their offices and agents, and how should they tackle them head-on? Sometimes, creating dialogue in a company and getting to the root of issues between teammates is not just damage control; it's culture creation. 

Brokers play a crucial role in supporting their agents to achieve success in a fast-paced and competitive environment. However, it's about more than tech tools and resources that usher in successful results and develop top-producing agents. Does the office have a culture set where discussion can be had between agents and brokers? Is there an open-door policy when delivering concerns? Consumers are looking for transparency more than ever, so agents will also be looking to advise their clients with more knowledge and understanding as well. 

In a world where every word you type or say and every picture you like or post is subject to judgment, agents will be looking for guidance, best practices, and policies to keep them out of harm's way.

However, brokers don't just have an obligation to their agents. They owe duties to consumers, which — depending on the representation established — often include dealing honestly and fairly, using care, skill, and diligence in the transaction, and disclosing all known facts that materially affect the value of residential real property and are not readily observable to the buyer.

Brokers play a monumental role in upholding the values and professionalism that make up the Realtor® brand. Educating agents is just part of their responsibility. It's also about equipping those agents to be brand ambassadors in the community who can adequately represent their office, city, state, and nationwide brand. As the real estate industry changes this year, brokers need to examine their offices and strategize on how they can simply be better for their agents and do better in their community. 

By RWorld Staff
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