RISMEDIA, Nov. 29, 2008-“Being in the real estate industry, we are constant students of our craft and we are always learning,” says Jim Bass, associate broker/owner, Real Estate Teams, LLC. So, in order to keep his team just shy of 200 agents motivated, his strategy is to make sure that there is constant communication between them. Here, meet Bass, and learn other ways he’s operating in the Mid-Atlantic region.
Real Estate Teams, LLC
Region served: Mid-Atlantic
Years in real estate: 15
Number of offices: 3
Number of agents: 187
Average sales price: $319,000
Average time on market: 96 days
Key to staying profitable: True accounting. We are a joint-venture co-op, and so we share the cost of operations as well.
One tech tool you can’t live without: Our intranet
How do you determine your marketing spend?
We started our own ad committee in 2003, and at that time, we were focusing 80% of our marketing in print and 20% on the Web. Since then, our numbers have changed; we now focus 20% on print ads and 80% on the Web.
How do you keep your agents motivated?
In order to keep my agents motivated, I make sure that there is constant communication between myself and them. Being in the real estate industry, we are constant students of our craft and we are always learning. I speak at national conferences so I always bring back ideas and new and different ways to do things. I believe in sharing these tips with my agents. There are a lot of great things going on in the industry that are working for real estate professionals, so there is no need to reinvent the wheel.
What are two fundamentals essential to your company’s continued success?
The spirit of cooperation that is found within our company is one of our keys to success. We are a company of companies with over 40 senior teams that are always working together and sharing business best practices and ideas with one another. The management team that we have in place is another way in which we continue to remain successful within our real estate market.
How do you remain ahead of your competition?
When I go on a listing presentation, I tell the seller that if they list their home with us, we will include it in our advertising and specifically in the local Real Estate Book magazine and their associated online sites. The promise to advertise has been a great motivating tool for many of my sellers and I’ve used the print deadline to get them to make a decision. Basically, professional marketing wins listings.