Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.
Issue link: http://remag.rismedia.com/i/488167
H aving lived through one of the worst times in history for the real estate industry, Power Brokers have come out the other side all the better and put their companies on the path to success again. According to the results of RISMedia's 27 th Annual Power Broker Survey, 48 percent of responding brokers describe their respective markets as "growing" and 34 percent as "stable." Only a mere 4 percent of the top 1,000 respondents describe their market as "challenged." I think that says it all. Business growth in 2014—a more than $76 billion increase in sales volume over 2013—happened in spite of a number of legitimate market concerns, such as a lingering inventory shortage and a dearth of frst-time homebuyers. Clearly, Power Brokers have decided to not let the market dictate their success, but rather, have taken success into their own hands. At the center of their strategies? A well-trained agent force. When asked where they will be devoting the most resources this year, the vast majority of brokers ranked training and coaching (31 percent) and recruiting (27 percent) as the two greatest areas of investment. "Our ability to get new agents up and running quickly is key to our ability to recruit," says Mike Schlott, president of New England's Randall Family of Companies, who echoes the sentiment of his Power Broker peers across the nation. "We need to be able to offer them a supportive culture, strong training and mentoring, and a platform that gives them every opportunity for success." You'll fnd more compelling fndings from our 2015 Power Broker Report beginning in a special section on page 62. For the frst time in the history of the Power Broker Report, we are ranking the Top 500 brokers by sales volume, not transactions, to provide a different perspective on success. You will fnd the full ranking of the Top 1,000 Power Brokers, both by sales volume and transactions, in our complete Power Broker Report publication available online and in print later this spring. To all the Power Brokers who made the list this year, and to all the real estate practitioners working hard to create their own success, we extend our sincerest congratulations and utmost admiration. Your tenacity and positivity inspire us all. Wishing you continued success, John E. Featherston CEO & Publisher Choosing Success THE WORLD OF REAL 8RISMedia's 27 th Annual Power Broker Report: Taking Leading Companies is Local