Owning a business of your own is the American dream. Real estate agents or those considering opening their own residential real estate brokerage should read Dan Hamilton’s new soup-to-nuts book on establishing a successful brokerage.
Real Estate Brokerage: A Guide to Success by Dan Hamilton, Thomson/ South-Western, 2006, ISBN 0324379463, Paperback, 380 Pages, $46.95 is written by an experienced real estate broker and instructor. Hamilton readily admits that the brokerage business is going through a permanent shift in how they will continue to be financially successful and remain the first point-of-contact for residential real estate consumers. Admission is one thing, but the author provides deep and clear ways to reorient your brokerage from agent compensation,recruiting and retention, business planning and development, to effective new-age brokerage marketing. All ideas are explained in great detail, with an added benefit of bolded topics and bullet points, for those who want a pick-up-put-down desk reference.
Chapter titles include:The Real Estate Industry, The Real Estate Broker and Owner, The Real Estate Brokerage Office, Real Estate Brokerage Operations, Real Estate Marketing, Additional Marketing Ideas in Real Estate, Real Estate Brokerage Compensation Structures, Real Estate Brokerage Staff Relations, Recruiting Real Estate Salespeople, Recruiting Interview, Retention of Real Estate Salespeople, Real Estate Business Development, Real Estate Business Planning, Financing a Real Estate Business, and Starting Up a Real Estate Business.
In addition to the chapters there is an appendix and introduction. Chapters are presented in an easy-to-understand format with review questions to help the reader assimilate the chapter information and it’s relevance. Boxes highlight important definitions or statements. One benefit I especially liked was the use of relevant definitions adjoining text instead of the usual back-of-the-book glossary
This book is recommended to current managing brokers, real estate franchise operations managers, brokerage educators and trainers, and those contemplating starting up their own brokerage.