Clocking hours in the field, continuing education, and state-specific licensing are all part of the trajectory.

It’s been a few years. You’ve had success as an agent, and now you’re considering the idea of opening your own brokerage. Or maybe you’re already a broker and eager to advance your career or the careers of those on your team.

Before beginning on that path—or starting an agent down it—consider and convey the realities. Being a broker is a “huge responsibility—you’re liable for what your agents do and need to take it very seriously and doublecheck everything,” says Karen Hatcher, AHWD, CPM, C2EX, CEO and head broker of Sovereign Realty and Management in Atlanta.

Fortunately, obtaining a broker’s license doesn’t have to mean starting your own brokerage immediately. Instead, you can always begin the the process by obtaining your broker’s license and then deciding which level of leadership is right for you. There’s a hierarchy to the broker path, and you can choose which level best suits your goals and experience.

For example, if you’re not yet ready or interested in managing agents, you can be an associate broker and continue to work under a managing, principal or designated broker. Opening your own brokerage can, of course, take you to the next level in your career, but, Hatcher says, there are many factors to consider, including significant overhead costs, administration and regulations.

“There’s a difference between getting your broker’s license and being successful in that career choice,” says Ben G. Schachter, GRI, the Florida-based broker and president of The Signature Real Estate Companies and co-founder and head of sales of TotalBrokerage Software. “It’s not easy to be a successful broker.”

To help you or others on your team get off to a good start, here’s a step-by-step guide to becoming a broker.

Gain Ample Experience as an Agent First

After earning your real estate license, you need to attain a certain amount of experience in the field to qualify to become a broker. Since this requirement varies by state, check on the requirements with your local or state real estate board in the state or states in which you plan to open your brokerage. “Most states require an average of two years of an active sales license before you’ll qualify for your broker’s license,” says Schachter. While you put in that time, try to work with a mentor, who will help you gain wisdom, confidence and experience, he advises. They can also help you write a business plan, which will come in handy once you’re a broker, he adds.

Take Steps to Earn the State Broker License

Once you know how much experience you need as an agent in your chosen state, verify the amount of continuing education credits you need. Find out how many hours and which courses, certificates or trainings count toward those requirements and where these education resouces are offered. After completing the required classroom hours, you’ll need to pass your state exam. To find the right school, consult your local or state real estate board, Hatcher says. You can also ask your peers where they got their broker training and licensing, says Steve Snider, the managing broker for Aventura, Sunny Isles and Bay Harbor for One Sotheby’s Realty in Florida.

Make a Business Plan

After you’ve earned your broker’s license, write a business plan, counsels Schachter. In the plan, record your goals and objectives. “Are they purely economic or are you trying to correct something in the industry?” Do you want to focus more on buyers or sellers? How will you define success as a broker?

Next, determine how you’ll monetize your business, whether through commissions, fees you charge your agents, or other services beyond selling or renting properties. Also ask yourself whether you’ll continue actively selling real estate yourself. “Most brokers do because they need that stream of income,” he notes. Once you answer that question, reflect on how much time you’ll devote to cultivating new business, serving existing business, and conducting clerical work, management and marketing. Remember: If your plan is to become a managing broker, these responsibilities will be largely yours or yours to outsource. Devoting adequate time to these tasks is cruicial to your success, so create a preliminary schedule, recognizing you’ll likely adapt it over time.

Also put together a budget for achieving your goals. “The number one reason for failure is the expense [it takes] to start a business,” Schachter says. Even if you’re not launching a brokerage, you may still incur marketing expenses, professional fees and the like. “You can keep expenses to a minimum, but you need to figure out how long you can survive financially until your business is profitable,” he continues. Plan on no income for six months and little income for one year, he advises. As you evaluate expenses, try to take advantage of the free tools and resources available through the National Association of REALTORS® and your state and local real estate boards. “Be as frugal as possible and don’t overspend,” he counsels.

Finally, come up with an exit strategy in case business doesn’t go as you’ve planned, and set measurable benchmarks to assess your progress. If you don’t achieve those goal, such as a certain income by a certain date, transition to your exit strategy.

Hire Your First Agent

“Everyone wants their first agent to be a top producer-moneymaker-powerhouse, but it never happens,” says Schachter. “That top producer-moneymaker-powerhouse doesn’t want to work with a brand new person in the business—they want to work for someone who can offer them more.” So, accept that your first few hires won’t be bringing in seven or more figures off the bat. Consider applicants who’ve worked in related fields, like real estate development or financial services. For example, Snider recently hired someone with extensive cold-calling experience in the financial services industry. In that agent’s first seven months on the job, he generated more than $5 million in real estate sales.

Invest in people with true potential. After all, it’s your own bottom line you need to consider. For Schachter, that means they possess intelligence, professionalism, and ambition.

Get to Know Your Agents

For the first several months of his first year as a managing broker, Snider took agents to lunch every day, asking them what they needed from their broker. Among his many insights, he learned that not every agent shared his mindset and goals. “As someone who’d worked as an agent for 25 years, all I could think about was how to make more money every second of every day,” he recalls. “But when I met with agents, I found some were okay with making much less. Maybe they owned income-generating investment property or wanted to keep their life the same and support their spouse or spend time with their grandkids.”

Successful brokers can balance their own desires and goals with those of their agents. Get to know your agents so you know if you can work together successfully to make the goals both of you have a reality.

Find a Coach or Team of Advisers

For insights on being a successful managing broker, Snider relied on senior executives at his brokerage for advice, especially during his first year in his new role. If you’re at a smaller brokerage, you might consider working with a real estate coach. “It’s far too easy when you’re self-employed to not have accountability,” says Schachter. “Invest in yourself so you can be better at your job, which will allow you to be a better mentor and coach to your agents,” he says.

National Association of REALTORS®
Reprinted with permission

Community engagement has myriad benefits for your brokerage and your agents.

Rose Varona likes to join fellow volunteers of a motorcycle ministry group from 8 p.m. to 4 a.m. distributing food and drinks for the homeless in downtown Albuquerque, N.M.

“In addition to providing nourishment, we offer prayers and resources for individuals seeking to reunite with their families or requiring medical care,” says the qualifying broker, office manager and property manager at Realty One of New Mexico. “I always knew that I have a passion to help others.”

She remembers the day in church when the motorcycle ministry announced the need for volunteers for the late-night food distribution.

“Something inside of me ignited, and I told my family, ‘This is what we are going to do,’” she says. She’s deeply committed to making the effort a family affair, sometimes bringing her children along for the ride.

“It was eye-opening for my children, who began to understand the hard realities faced by homeless individuals and the importance of gratitude for what we have,” she adds.

Reasons to Get Involved

Agents and brokerages are embedded in their communities and as such, often engage in community endeavors, which often pays off personally and professionally. Volunteer efforts go a long way to build strong relationships and better neighborhoods.

“By participating in community events and philanthropic activities, we have built a positive reputation,” says Varona. “When they see our commitment to the community, people feel more connected to our brand and more likely to choose us over competitors.”

Engaging with the community has opened doors for her to valuable networking opportunities and helped build relationships with many families and businesses.

Plus, research has shown over and over again that being part of your community and volunteering can also improve your overall health and attitude.

A study by Harvard T.H. School of Public Health shows that older adults who volunteer for as little as two hours a week can significantly reduce the risk of early death and improve their sense of well-being.

Find Your Passion and Follow It

For Francesca Lampert, Johnston Lampert Group at Coldwell Banker Realty in Menlo Park, Calif., volunteering allows her to refocus her energy outward and help others, which can put her stressors into perspective. She also sees it as an extension of her job as a practitioner.

“Real estate is all about helping people within our community, and that need extends beyond just our clients,” she says.  She also was a 2020 National Association of REALTORS® 30 Under 30 award winner.

“Good real estate agents are pillars of the community. As such, we need to be meaningfully involved in the issues surrounding our communities and also partake in and celebrate the wins. We are local advocates,” Lampert states.

Right now, she and her partner, Bob Johnston, area builders and other real estate professionals have formed Community Builders Foundation, a new nonprofit, that helps the aging population age in place so they can remain in their communities. Johnston knows how important this is to many seniors, as his father fought for as long as he could to stay in his own home.

“This inspired Bob to create the foundation, and I quickly joined the cause. We all benefit from a close-knit neighborhood,” she says.

Inspire Your Agents to Get Involved

Lampert believes that leaders can set an example by walking the walk.

“It’s the best way to get other agents involved,” she says. “Make the opportunities available and well known, and make it fun and easily accessible. Our office also does annual food and toy drives around the holidays.”

Her office offers several opportunities for agents to get involved, including sponsoring plays and events at local elementary schools and running food and toy drives around the holidays.

“It’s great marketing. Name recognition is everything, and it helps build goodwill and creates a positive association. Plus, it’s fun,” she remarks.

Varona feels that incorporating volunteer opportunities into the workplace can lead to a happier, healthier, and more engaged team, ultimately benefitting staff, agents and the brokerage.

“When I volunteer, I feel a profound sense of fulfillment and joy. Knowing that my time and effort can make a positive impact on someone’s life gives me a deep sense of purpose,” she says. “Sharing my expertise without expecting anything in return also provides a unique sense of freedom and self-worth.”

She’s found that getting into the community boosts team bonding, personal well-being and company loyalty.

“Employees are more likely to develop a sense of pride and loyalty towards a company that encourages and supports volunteer activities. This can lead to higher retention rates,” Varona adds.

Here are some other ideas brokerages and their leaders can implement to get more involved in the community:

• Partner with local businesses. Together, you can offer promotions or discounts to your clients. “This supports the local economy and builds strong relationships within the community, which in turn increases your visibility,” says Varona.
• Volunteer at your kids’ school and events. “Make a positive impact on the organizations and communities you’re already a part of,” Lampert says.
• Host community workshops. Offer free workshops on real estate topics, such as home buying tips and home buying seminars, Varona states. “These events position you as an expert in your field allowing you to connect with community members who may be future clients.”
• Give some hours to one of your passions. “I was a past Habitat for Humanity volunteer,” Lampert adds. “Working at the local ReStore was very fun, and I learned a lot about local housing issues in my community.” Varona serves on the board of Empowerment Films, a nonprofit raising additional awareness of domestic violence with age- and culturally-appropriate videos to be distributed locally, state, nation and, eventually, worldwide. “As a domestic violence survivor, this cause is near and dear to me,” she adds.
• Donate. “Give a percentage of your commissions to a charity you are passionate about or let your clients choose which one to get them involved,” Lampert says.

No matter what your brokerage decides, getting involved at the community level solidifies the brokerage’s position and helps agents feel more connected. It’s a great way to show agents that you care about more than just the bottom line, and it often leads to successful relationships in the business as well.

National Association of REALTORS®
Reprinted with permission

If you’re a broker ready for an office, keep in mind your business’s mission and needs when deciding on space.

When the rent on her office increased, Atlanta-based Karen Hatcher, CEO and broker of Sovereign Realty & Management LLC, decided to buy her own space. Prioritizing convenience, visibility and value, she aimed to find a spot in a central, up-and-coming area with significant car traffic. Since the location would be prime, she knew she’d need to compromise on square footage—she just needed to accommodate her full team for meetings. So, when Hatcher learned a business owner with her ideal space was retiring, she jumped on the opportunity and hasn’t looked back since. 

Thanks to time and experience, Hatcher knew exactly what she needed. For brokers setting up their offices for the first time, thinking about all the options might seem overwhelming.

Choose a Spot

Location matters, even if you’re not investing in a traditional brick and mortar location. 

Decide whether you need an office

Not all brokerages require a dedicated brick-and-mortar location, though it’s exactly what some need. In today’s remote-friendly work environment, myriad options avail themselves. As a broker, your first task is to assess the kind of office space your team needs. 

“When an agent or two comes to me and says we need an office, I try to figure out if two people—or 25—want that, so I ask around a bit,” says Jeff Samuels, SVP-Regional Manager of the Northern California region of The Agency. “I ask if we’re missing anything right now and if they’d prefer an office or a few free lunches each week. It’s one or the other,” he continues. 

For a compromise that can be ideal if you’re starting out, consider a coworking space, he suggests. “You can collaborate with people not in your industry and meet potential clients.”

Focus on your mission

Know your company’s niche, Samuels advises. The Agency is a global luxury boutique brokerage, he explains. So, when setting up an office, he makes sure each decision aligns with those three qualities: luxury, boutique and global. That’s why he knew opening an office in tony and charming downtown Los Altos, Calif., made business sense. 

Weigh visibility versus space

You’ll need to choose between a smaller office—possibly in a more centralized location— and a larger office further afield, figuring out which makes most sense for your business. Both types have pros and cons, says Samuels, whose region includes a mix of boutiques and larger spaces. 

He explains that a busy downtown street location can serve as a billboard, promoting your brand and helping your team connect with the local community. On the other hand, a larger office could serve as a regional hub and offer ample parking and space for private offices and meeting rooms. The Agency office in Alamo, Calif., embodies this style, and is ideal for hosting larger get-togethers, like regional meetings.

Remember your mission, as well, and note that a smaller space might work better for your needs. Smaller spaces feel lively and breed collaboration, he adds. One case in point: the 1800-square-foot downtown office he just opened in Berkeley, Calif., has a cafe-style rather than an office-like feel. Vibrant and inspiring, team members pop in and out, rather than working at assigned desks. 

Either way, make sure the location is as central to your agents as possible, urges Alex Platt, broker associate and principal agent at Compass, who just opened the brand’s Delray Beach, Fla., office. “If they’re 20 or 30 minutes away, they won’t come in if they have an appointment in the other direction,” he says.

Try to accommodate your entire team

When figuring out how much space you need, plan on enough seats for everyone, recommends Platt. “That’s seats, not desks,” he clarifies. “It’s very rare everyone will come in and work at the same time. You don’t need a desk for every agent, but you do need a large space so that when everyone meets, there’s enough space.” That’s why Hatcher insisted on a conference room with enough seating for her entire team. 

But be economical

Don’t overspend on space, Samuels recommends, noting an overly large office could feel like a ghost town or be financially onerous. To defray your costs, take a cue from Hatcher, who rents out two desks in her office: one to a construction team and the other to a maintenance company. 

Build it Out

To optimize the use of your space, make sure you think intentionally about how to use it.

Include these zones

If you’re going for a full-on brick-and-mortar space, plan accordingly to make sure you maximize the use of the square footage. Plan on a reception area, conference room, open workspace, walk-in closet (for swag, signage and brochures), kitchen, bathroom, and printer area plus smaller more private workspaces and, ideally, outdoor space and parking. While Hatcher’s office features a screened-in front porch, The Agency’s Berkeley office includes a backyard. These outdoor areas increase the workspace, enabling agents to take calls without disturbing their colleagues.

Balance closed and open, fixed and flexible space

Aim for open space for collaboration plus closed rooms for concentration and private conversations, suggests Samuels. When it comes to private offices or permanent desks, consider them for office managers or other staffers who work in the office full-time, suggest Hatcher and Platt. Otherwise, since agents rarely work in the office all the time and simultaneously, include ample unassigned “jump” desks and open tables. Distribute these workspaces throughout closed and open areas. That way, when an agent wants to socialize and brainstorm with other agents, they can choose a desk in the bullpen. However, if they’re negotiating over the phone or trying to focus on writing a listing description, they can head to a smaller, quiet room with a door that closes. 

Offer amenities

“We want to make the office inviting, so people feel at home and want to come in,” says Platt. So, make sure your office is pleasant and comfortable and includes desirable items. Think: a commercial black and white printer stocked with plenty of ink and paper; reliable Wi-Fi, and ample snacks and drinks. 

National Association of REALTORS®
Reprinted with permission

You can’t expect an agent to meet a goal they don’t know exists. Establish expectations early, and reiterate them often.

Carey Murcin, associate broker at Meservier & Associates in Auburn, Maine, sees a lot of agents moving from company to company. 

“I can only guess they are looking for something that they feel is not being provided at their current brokerage,” she says. “Expectations, of course, come into play. Agents need to know and align with what is expected of them, and what they can expect from their agency.” 

Brokers are responsible for setting and relaying clear expectations for their agents. When this is done effectively, agents understand exactly how they need to perform to meet those expectations. Once an agent is on board with what’s expected of them, they can communicate better with their clients. Clear expectations from the top trickle down to the customer. 

It’s when communication from the broker to the agent is murky that things go amiss, which can cause issues both internally and with clients. In an industry that centers around helping customers make a major purchase—oftentimes the largest purchase of their lives—crystal-clear expectations, communicated effectively, are a necessity.

“From beginning to end, regardless if you are working with a buyer or a seller, they need to know what is expected of them, what they can expect of their agent, and what to expect from the process in general,” she says.

Setting Your Office Up for Success

A 2023 Gallup poll shows that nearly half of all U.S. employees don’t know what’s expected of them at work. This applies whether an employee is remote, hybrid or in the office. 

Lynsey Engels, CRS, AHWD, president of the Mel Foster Co. in Bettendorf, Iowa, says she makes sure her company—from leadership and management to staffers and agents—is communicating expectations on every level. Leadership communicates to management, management to staff members, and staffers to agents. And when it’s done right internally, it trickles down to the clients as well.

Part of communicating effectively and making sure expectations match the needs of the business is keeping everyone up-to-date on changes. Engels takes this seriously and makes it a point to “educate everyone on significant changes,” she says. She has more than 150 agents and 20 managers in locations across Iowa and Illinois.

She also focuses on providing training and inviting experts to speak to her office, ensuring her agents and staff are updated on industry or industry-adjacent best practices. The experts include a host of attorneys they work with, who often speak to the various liabilities agents might face in the field. 

The goal, she says, is to make sure her agents have what they need to do their jobs well, which then makes the customer feel comfortable with the agent representing them in the transaction. 

Make Sure Everyone Is on the Same Page

Murcin believes there are certain steps to ensuring agents have a clear understanding of a broker or owner’s expectations for them and their businesses. Likewise, it’s important that brokers understand the expectations and goals of their agents.

Make Sure Agent Expectations Align With Yours

As a broker, it’s important to ensure your agents’ business goals align with what you envision for your brokerage. Not all agents have the same goals for their business, and that’s OK, says Engels. But it’s useless to set expectations and then find out your agents’ goals don’t align with your own at all. That’s essentially setting yourself and your agent up for failure.

Have a conversation with your agent first, to make sure you can help them reach their goals and that they can help your business reach its milestones as well.

Communicate Effectively

1. Keep it simple. It all comes down to how information is communicated. Simple, clear communication goes a long way. “Be direct with expectations even if you are worried there will be resistance,” Murcin says. 
2. Give context. “Explain why the expectations are what they are and what benefit it has to the overall structure of the company and how it will, in the end, help everyone succeed.”
3. Be flexible. “Always be open to reevaluation of the expectations and keep an open dialogue with your people. Do they still make sense? Are they still serving the purpose intended? If not, be open to change.”
4. Come up with a plan for unmet expectations. The reality is that even if goals are clearly set and articulated, sometimes someone misses the mark. “Missed expectations can be very disappointing, especially when you take pride in your profession,” Murcin says. Build in space for error and a plan to help agents get back on track. 

Help Agents Set Expectations for Customers

Expectations aren’t just for the broker-agent relationship, though. It’s also important for an agent to have reasonable and realistic expecations for their customers. Murcin says they should keep in mind that buying or selling a home is not an everyday occurrence for a customer, and agents would do well to keep that in mind. As such, the customer’s knowledge of the intricacies of the transaction is limited. 

“Setting realistic expectations from the start is helpful to avoid the emotional roller coaster that can be buying or selling a home,” she says. Brokers can help agents by helping explain what they can and cannot expect a customer to understand about the process. This can then help agents serve their customers in a way that instills trust and conveys value.

Setting clear expectations is an important part of ensuring success for the brokerage at all levels. It is one of the best ways to make sure everyone is held accountable for their responsibilities.

National Association of REALTORS®
Reprinted with permission

Though both parties might balk at learning from one another, brokers can set the tone and relay the mutual benefit of working together.

When he entered the real estate industry 10 years ago, Michael Biryla, team lead of The Mike Biryla Team at The Agency in New York, joined the team of a more established agent and worked open houses. Much has changed since then though.

Newer agents might be more comfortable with technology and remote work, while seasoned agents lean heavily on their established networks and time-tested ways of generating business. Managing new and seasoned agents can be challenging with such different approaches. To bridge those gaps, “you have to be willing to mix the old with the new,” says Dawn David, licensed associate real estate broker at Corcoran in New York. “Aim for the middle ground and be versatile, since different methods work for different situations and in different times.”

Show You Understand the Need for Both Perspectives

First, embrace both styles yourself. Camaraderie and cohesion among agents start with the example you set as the broker. “Brokers should recognize the value the old and new guard bring to the table,” says Vanessa Pierce, managing broker at Coldwell Banker Realty in Winter Springs and Oviedo, Fla. New agents can encourage experienced agents to try different approaches, she adds, while more established agents can offer perspective and success stories. “It’s good to hear from both sides of the table.”

“I look at everything as a coaching opportunity,” says Julie Jenkins, the broker of record at EXIT REALTY in Ontario, Canada. If an agent says they won’t try something, she’ll ask why not and offer to help them work through it. Sometimes, agents just need a little support—and a push—to make some changes. Then, once the agent tries the new approach, it’s a good idea to follow up on a regular basis to make sure they’re not struggling, David advises.

David says she’ll use herself as an example when encouraging seasoned agents to learn something new from a less experienced agent. “I always like to put myself in people’s shoes and say, ‘When I did this 100 years ago…,’” following with an anecdote. She’s the first to admit to her team when she’s having trouble learning a new technology, she says.

Meet Agents Where They Are

“Lean into your agents’ strong suits and highlight their attributes instead of what they lack,” Biryla says.

She encourages agents to focus on their strengths and dip into less familiar waters simultaneously. For example, one of Biryla’s agents previously worked in television, so Biryla encouraged him to call those contacts and meet them for lunch. Since this agent is not a fan of social media, Biryla suggested he post pre-formatted, pre-curated content just once a week. “So, he’s using tech, but it doesn’t overwhelm him or make him feel defeated. Calling and meeting his old friends is the best use of his resources.”

Debunk Myths

Sometimes, newer agents are skeptical of more traditional approaches. Here’s how brokers explain their value.

• In-person meetings: Many newer agents believe they can do everything from coffee shops or home, says Biryla. He believes that’s a misconception. “When you come to the office, you’ll hear about a property coming up, which you would never know about just from 30-minute Zoom meetings.” Plus, you learn the nuances of the industry, he adds. He also believes it’s easier to have hard conversations in person.
• Cold calling: “People think cold calling is a waste of time, but it’s a lost art,” Biryla stresses, noting it helps agents develop discipline, patience and resilience. “The one misconception I hear all the time is that listings fall into my lap. Agents don’t realize I probably spoke to that person for the first time nine months ago and followed up.”
• Print marketing: “You never know where your buyer will come from,” says Biryla, who splits his efforts between print and digital. One of his most successful strategies is sending physical mailers to builders. “I got a listing two months ago from someone who kept my mailing from two years ago,” he reveals.
• Slow down and write it out: “We are in such a fast-moving environment and people do things at record-breaking speed,” says David. “A lot of times it seems there isn’t time to get everything in writing. But slow it down and document everything.” Recently, she verbally conveyed a seller’s response to a buyer. Later, the seller worried his message had been miscommunicated—and David wished she’d emailed or texted the seller’s response to the buyer instead.

Similarly, seasoned agents are bound to have misconceptions about the usefulness of things like technology and social media. For these reasons, when there’s a meeting or training, Jenkins tries to sit agents together who can teach each other. “I try to foster a team-like atmosphere where we’re all in this together,” she says. Similarly, Pierce encourages her seasoned agents to become office mentors.

As the broker, fostering that kind of atmosphere, rather than letting differences fester into potential issues, is a terrific way to set the tone between seasoned and newer agents. 

National Association of REALTORS®
Reprinted with permission

Recognition goes a long way to building loyalty and esteem.

Christina Pappas, president of The Keys Company in South Florida, celebrates the successes of her agents and staff as part of their business culture. Pappas believes doing so builds a collaborative brokerage. 

“It’s the heart of our success, and we continue to find ways to do it,” she says.

One of her favorite quotes from Napoleon is, “Give me enough medals, and I’ll win you any war,” and she believes that consistent acknowledgment of her agents and staff members helps reach business goals and build camaraderie.

To thank those who have been at the company for five, ten and fifteen years, Pappas and her father and CEO, Mike Pappas, hand out plaques and gifts. They also give handwritten work anniversary cards to their agents and employees, as well as birthday cards. “In August, I did over 400 cards, with 30 people with over 20 years with us just that month,” she says.

They were so appreciative of those celebrating their 40 years with The Keyes Company and Illustrated Properties, Miami, that they sent them on a cruise. Everyone wants to be appreciated and acknowledged. Celebrating the successes and milestones of agents and staff can foster loyalty, job satisfaction and motivation.

A 2024 Quantum Workplace study found that employees were 31% less likely to leave the company when their leaders had a formalized plan for recognition. Business outcomes for individuals who received regular recognition from their superiors increased by 12%. In short, recognition is a small act that could reap big rewards.

“We celebrate everything,” Pappas says. “Our culture is a really warm welcome and family feel.”

Make It Organic

After leaving a large franchise, Katie Beamon opened her agency, Home Love Colorado Real Estate, in Fort Collins two years ago. She convinced a fellow franchise agent, Coy Wylie, to join her as co-owner and managing broker. He brought his daughter, a licensed agent, with him. Beamon says her goals for her office of six include their excitement about their careers and a focus on customer service.

“It doesn’t matter what the market is doing or how many deals we do,” she says. “We are happy, content and passionate. You build a space they can do their best in, love their families and communities and build something they are proud of and contribute to.”

She offers recognition and fosters team spirit through in-person get-togethers—usually held at a local bar for happy hour—and the team loves throwing parties throughout the week to celebrate successes.

“We gather for a drink and a meal. We do sing-along Christmas parties with friends and family. We are centered around music, either playing it or going to hear it. In fact, Wylie is a lead guitarist in a band, and they all go as a group to listen and support him.

She shies away from empty compliments and opts instead for heartfelt one-on-ones, which give her the chance to learn about her team members’ “why.” Once she knows what they’re working toward, she helps them advance their careers so they can achieve their goals.

Small Gestures, Big Impact

With over 3,500 agents and 45 offices throughout six counties in Florida, Pappas has many milestones and accomplishments to keep track of, but she’s committed to doing so. For instance, if someone has a baby, the brokerage sends food and gifts. She and her father hand out annual awards each year for their associates. They also visit each of the 45 offices in the summertime and give out what they call “half-time” awards.

“We start in early June and do two offices a day to celebrate everyone with an entire theme throughout the year, which is Rise with the Tide this year. We bring in a photographer for updated headshots, too,” she says. Pappas wants the celebration to extend to all members of team members, so she encourages the offices to set up a breakfast or lunch for agents and employees.

“It’s just about re-engaging with our associates and meeting them where they are. We spend two hours with them,” she says. 
Celebrating milestones and successes should be part of your office culture, but it doesn’t have to be complicated. Here are Beamon and Pappas’ ideas for celebrating your company and your people:

• Find and apply to industry awards programs. “Our public relations and marketing firm look hard at all award opportunities in the industry,” Pappas says. “The applications are filled out and we put our associates and employees up for various awards.” For awards like the Best of the Best or Top 30 in the industry, voting is necessary. Pappas makes sure those who are nominated know the team is behind them. The brokerage uses social media to garner votes and awareness. “We really embrace our agents’ successes,” she says.
• Be vocal about milestones. “Every human needs to be seen,” Beamon says. “We call our agents every closing, and every single closing gets a Facebook post, so they don’t have to remember to do it.” This is a simple acknowledgment that makes an agent feel seen.
• Build celebration into your leadership style. Pappas and her father have long relied on handwritten notes, face-to-face recognition and other types of acknowledgments, which let agents know their work and presence are appreciated.
• Listen. Sometimes, acknowledgment comes in the form of listening. “People just need to be there and try not to fix everything,” Beamon says. “You get beat up in this industry. As a leader, you are the therapist, the brother, the sister. You have to be so many things.”

National Association of REALTORS®
Reprinted with permission