This year, the Council of Real Estate Brokerage Managers has added exciting new courses to its lineup of educational offerings for brokers, managers and salespersons. Ending 2002 with a course offering in Dallas in December, the new courses promise to offer attendees the latest issues in risk management and generational marketing.

The two new courses, which have already been road-tested across the country, are single-day educational opportunities which will continue rolling out with more available dates in 2003.

Master instructor Bonnie Sparks explains, "The concept behind the risk management course was added productivity and profitiability because they have managed risk. They walk out of there with at least 15 training templates that they can implement immediately, and company policies and interviewing questions that they can work with so eliminate people in the company who put them at risk. They walk away with stuff they can do."

Director of Professional Development for the Council Jan Aksztulewicz says that the courses were created to assist members with their full potential in a real estate management career.

Risk Management

”Riisk management isn’t a new topic,” says Aksztulewicz. “but there are some changes in the industry, and that is important.”

According to Aksztulewicz, errors and omissions insurers say that 60 to 70 percent of all real estate lawsuits stem from misrepresentation and lack of various disclosures. Liability increases with dual agency transactions, which is having an effect on NAR members.

“It will all trickle down,” says Aksztulewicz. “Janet Branton with REBAC says there is a tremendous increase in the number of people taking ABR courses, and that echoes what is going on in the marketplace. More people are considering single side representation.”

But single representation may not be an option for brokerages which do a large percentage of their business in dual agency or transactional brokerage transactions.

”Because agency is affecting us state by state, there are some limitations,” acknowledges Aksztulewicz. “I would guess that the numbers make strong suggestions to the extent that you can continue to absorb those costs, but the pressure is on. A brokers’ actions are to start with awareness - can you be all things to all people, is there an opportunity to commit to one side or another?”

”I think that the real opportunity is for training of broker owners and managers,” says Aksztulewicz, “while there may not be anything you aren’t being mandated to do, you still do have a responsibility for training and development to keep your firm out of sticky situations.”

She points out, “Our industry has an approach to avoid taking on hard issues. There are opportunities for education, training and development for brokers manager and agents alike. We have to look at all kinds of issues - misrepresentation, anti-trust issues, the Internet. With the advent of technology there are a lot of thing s to consider, copyright issues, risks unique to Internet usage. Our course is pretty involved.”

Generational marketing

On the flip side of being able to hang on to the money you make, is information that can help you earn more.

The real estate industry has a now famous generational gap between its service providers who are in their mid-fifties, and first-time and move-up homebuyers who are in their mid-thirties, according to NAR studies. These generational differences also exist between salespeople and managers.

Why is there such a rift between baby boomers and GenXers?

"Boomers were first genration where both parties worked outside the home and the GenXers raised themselves," explains Sparks. "They do things on their own , they don't want to be micromanaged. Baby boomers were raised to be shown off. Their veteran parents saved money to raise them so they spoiled them. Boomers were both self-centered and not there, so GenXers were kind of abandoned. They created families with their friends, and at the mall and became self-reliant. This is outside of real estate, but it helps you see their attitudes."

”Brokers and managers should be looking at external messages of how they appeal to different generations,” advises Aksztulewicz. “We look at external influences and the generational influences in the office. When different generational groups are working together, what is creating a generational void?

Why are generational issues more of a problem than they were, say, 20 years ago?

”I’m a GenXer,” responds Aksztulewicz. “I was shaped by boomer values. You wanted to work for a company your whole life, and collect the gold watch at the end of your career. But while we were growing up, there were massive layoffs, and a lot of our parents were affected so that was a big occurrence. We saw that loyalty wasn’t rewarded. And in light of recent corporate events, you can’t be as certain about the future, so GenXers and GenYs value things like insurance, 401 K plans, and time off more than a great salary. As a broker/manager with a recruiting strategy, you have to know what motivates people – what they value.”

Aksztulewicz sees generational differences leading to two challenges for the broker/manager – recruiting and customer service.

Recruiting

“Generational differences is one aspect of why it is hard to recruit college age people,” says Aksztulewicz. “It’s hard to view yourself being successful as an independent contractor when you are loaded with student loan debts. An independent contractor work arrangement is daunting because there are no benefits.

”You may see people in today’s job market, and some may consider real estate as a temporary job, but not a first career,” offers Aksztulewicz. “We as an industry, the senior leaders, have to create a space for them and their contributions. “

Relating to customers

”From the customer service aspect, you have clients who do a lot of research online first,” says Aksztulewicz. “so, technology can create a generational difference.

“Younger people are more comfortable with technology and use it more than our agents currently do, so that can create a service barrier in response time. If they can’t get information, they will tune out. Our Realtor web sites are designed to capture, not give information to invite the person to come back in. Registering to get into the site can be regarded as a putoff. They want timely responses to e-mails, to get information, and if the agent insists on meeting in person, it can be a communication struggle. The idea is to be mindful and vary your repertoire as far as communications styles go.”

There’s also what younger users regard as professional and unprofessional behavior.

”AOL or Yahoo e-mail addresses aren’t considered professional for business,” she says. “The agents ability to access information, follow-through and give complete information are all issues.”

Why is catering to customers based on their ages important? “We all identify with out own set of experiences and perspectives and appreciate that others have different life experiences and perspectives that help shape their value system. It’s being mindful of diversity. Not everyone thinks or acts like us.”

These courses are designed to teach you things you didn’t know. “These are advanced, focused topics,” says Aksztulewicz, “a must for brokers who want to continue to be profitable and productive and keep themselves out of hot water.”

Published: October 28, 2002

Use of this article without permission is a violation of federal copyright laws.