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Owning your own business 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 setting up a successful brokerage.
Real Estate Brokerage: A Guide to Success by Dan Hamilton, Thomson/South-Western, 2006, ISBN 0324379463, Paperback, 380 pages, $46.95 Written by an experienced real estate broker and trainer. Hamilton readily acknowledges that the brokerage business is undergoing a permanent change in how they will remain 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 reposition your brokerage from agent compensation, recruitment and retention, business planning and development to effective new age brokerage marketing. All the ideas are explained in great detail, for those who want a pick-up-put-down desk reference, with the added benefit of bolded topics and bullet points.
Chapter titles include: Real Estate Industry, Real Estate Brokers and Owners, 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, Real Estate Salesperson Recruitment, Recruitment Interviewing, Real Estate Salesperson Retention, Real Estate Business Development, Real Estate Business Planning, Financing a Real Estate Business, and Starting a Real Estate Business.
Besides 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 information and relevance of the chapter. The boxes highlight important definitions or statements. One benefit I particularly liked was the use of contextual definitions adjacent to the text, rather than the usual back-of-the-book glossary.
This book is recommended for current managing brokers, real estate franchise operations managers, brokerage educators and trainers, and those considering starting their own brokerage.
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