Real(i)ty check: Broker ethics in recruitment
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Do you believe it is unethical for one broker to solicit another broker's agents?
- No. (54%, 244 Votes)
- Yes. (46%, 211 Votes)
Total Voters: 455
Tell us your views on broker recruiting strategies — do they foster healthy competition for talent, or are they a disruptive business practice?
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About The Author
ft Editorial Staff
is the writing staff comprised of legal editor Fred Crane, In-House Broker Consultant Fernando Nunez and writer-editors Connor P. Wallmark, Giang Hoang-Burdette, Jeffery Marino, Carrie B. Reyes, Sarah Cantino, Matthew Taylor and Matthew Shade.
Latest Comments
![iStock_000006413523Medium-BW[1]](http://firsttuesdayjournal.com/wp-content/uploads/iStock_000006413523Medium-BW1-106x75.jpg)
What I have seen (even sent to me as a broker) are false hopes and false dreams. Promises of 100% commissions for a flat fee rangeing from 495 to 995. Plus transaction fee for E& O . training and support from 500 miles away. I laugh and laugh at these people. but it gets obnoctious when you get it from the same ones every week.
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Brokerages should limit their recruiting efforts to general ads in real estate and other publications they decide may be successful as well as direct mail to the thousands of inactive agents. Otherwise, brokers are interfering with a contractual relationship between a broker and their agent. The biggest offfenders are the large brokerages that act like whales, sifting through the licensed population, taking in bodies in an effort to gain a statistical advantage on the market activity.
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If the Broker solicits another brokers agent, that broker is esentially soliciting the other brokers customers
and listing that the agent has. We know that some brokers solicit other brokers listing during there listing period, this is considered unethical by most Board of Realtors and so should soliciting agents. opinion!
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All is fair in love and war! Get over It* Any business worth it grain of salt, should always be on the look out for the best candidates in the market place. In this case – The Agent wins with more incentives, commission, benefits. That how it work folks!!
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We all know we have to abide by the code of ethics in Real Estate, then why the farming of license agents should be any different?
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Its hard to say. If a agent is happy where they are, then they will stay there, if not they maybe looking themselves for a new opportunity..
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there is no agency relationship in a broker associate arrangement. with a few notable exceptions real estate brokers use independent contractors. offering an advantageous business opportunity to an independent contractor is not anywhere near unethical…to suggest otherwise is to imply that associates are indentured…that’s ludicrous.
charles…it is the goal of every businessman to build a book of clients that we take with us as we move about to our advantage. you may be unclear that existing listings are the property of the sponsoring broker, not the agent that is working the file. once a file closes the agency relationship is terminated.
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I don’t mind recruitment efforts, but as a professional, I think I’d prefer a phone call from a legitimate brokerage than an email from some unknown. Offers of 100% compensation aside, I always feel flattered that folks think I’m worthy of employment with them, and an invite to an interview is a very nice gesture. On the other hand, I don’t plan to leave the brokerage I’m with. Folks here are reputable, experienced, loyal to each other, and we “fit.”
Steve Bradley.
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I think that Steve Bradley said it very well. I would indeed be flattered if someone
thought I was worthy of employment, but I would just as soon have it very low-key
and thoughtfully extended. However, does it seem somewhat smarmy. Old School,
maybe?
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Real Estate is a business, so why would the tactics, strategies, practices found in all other businesses to hire talent be, or, expected to be, exceptional , or unethical in this industry?
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Nobody mentioned the other side…the opportunist agent. They come in and sign up for your offered split and once they get their first check start to complain they want more without an increase in business of course. They also bad rap you and your company behind your back to the other agents trying to make them as unhappy as they are. They also want help with every little thing on their files and with their clients. Also they don’t like to attend meetings or hear about any new policies like turning in paperwork and files.
We provide them with a place to work with lights, climate control, phones, internet, copiers, marketing materials and so on but they are never happy.
And if they ever do start to get busy to where you think you might get some return on your investment finally after all the aggravation they up and leave your company for a song and dance or to start their own company and then try to bring their new friends from your office with them!
So much for adult daycare!
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