« « Does This Co-op Building Permit Washer-Dryers in the Apartment? | Home | Pizza Wars - Brooklyn Style » »

Mark David and Company Real Estate Agent Exodus - What the Fark?

October 9, 2007

Thanks to Shitty Habitats for this scoop. It seems there is an exodus of real estate agents from New York City real estate brokerage Mark David & Company. What gives?

Many of the agents are heading to another company for a better deal. In this market, do you blame them? I really wonder if that’s really the only reason. I mean, from the sounds of it, people are getting fired left and right for no reason. Hey, wait a second - can you fire an independent contractor? I thought that only applied to people with an “employee” status?

At any rate, there must have been some major communication or philosophical issue that caused so many to leave. Is this a sign of more things to come in the industry? Who knows. But one thing is for sure, it doesn’t look good for Mark David & Company to have this sort of attention. Unless they address it, we will all have one side of the story.

Real estate brokerages need to start appreciating the agents that represent their company. They are the backbone to the company’s success. We have all heard many stories of agents leaving for various reasons. One of the biggest reasons is not being appreciated. A simple pat on the back here and there really does matter. We have feelings you know.

Lest thy broker never forget, it’s the agents who build relationships directly with buyers and sellers. Not necessarily the “Company” or “Brand”. It’s a people business for pete’s sake. Relationships can last a long time, regardless of what company an agent works for. So when they leave your company, chances are, many of the prior relationships they built over the years under ‘the company” umbrella will follow the agent. A good real estate agent cherishes their relationships and fosters them. A good brokerage does the same.

“Treat others as you want them to treat you because what goes around comes around”
- unknown author

Technorati Tags: Mark David & Company, Real Estate, Agents, New York City, Relationships

Posted by Rudolph D. Bachraty III | Filed Under Real Estate Blog

Comments

2 Responses to “Mark David and Company Real Estate Agent Exodus - What the Fark?”

Thorny on November 8th, 2007 11:57 pm

In response to the unknown author whom we kindly regard as Braveheart Jr., and many of us who do know him will never know what Jr. really stands for considering there was a name change a few years back.???? Leaving one company for another thinking that the grass is greener, at this point, may be suicide. Yours. I know from experience because I made a really bad move 2 years ago. Dam those sleazy lawyers. Sorry for the choice you made Mr. Braveheart. You are now on a captainless vessel. . Being king of the s–t house isn’t that great if your kingdom stinks. Needless to say your days are numbered as well. Captain Howdy Doody will do better. Instead of installing a revolving door he most likely has an ejection seat under your plank.
To pinpoint any one company and to say that agents are leaving in droves applies to every company out there including the one you’re with. That includes all 3 of them. “Everyone” in the rental business is scrambling for a better deal but there isn’t one. This includes the company you are with. Promises, promises mean nothing and cannot be kept if the underlying structure of the business is faltering or didn’t exist in the first place. Things change and promises made at a better time my no longer apply. Blame the market.
We are in a failing rental market. The bottom line is there is no more rental market for the rental broker in Manhattan. It’s over, finished, kaput, finito! I predict in the next 5 to 7 years rentals and rental offices will be virtual. Stop blaming the x boss for the mass exodus and the unfulfilled promises. Blame a tight market, the no fee landlords, and the no broker listing services for that. As much as you all hate to believe this, clients “don’t” need a rental broker anymore. No fee apartments are in abundance and “no broker” listing services, like the one I am planning, are popping up all over the place. The only glimmer of hope you all have if it’s rentals you want to do is, “corporate relocations” and “small building owner rentals”. That’s about the size of it. Another suggestion if you like real estate is get into sales or commercial leasing. In response to your comment : “Hey, wait a second - can you fire an independent contractor? I thought that only applied to people with an “employee” status?” Duhh… Yeah, I believe it is possible when your boss is paying out $50 grand a month in rent and expenses just to have a few posers show up every other day at 1 and leave at 5 and do nothing but take up air space. Come on, we all know a few of those. I’ve seen my share. How about the agents who sit there and steal your clients when your out on the crapper or the ones that call all their relatives in Israel. Is that cause enough for dismissal? It sure as hell is when you are paying the bills.
Love,
Thorny
Rudolph D. Bachraty III on November 9th, 2007 10:30 am

hi thorny!

now that’s what i call a comment

you raise some interesting points. the most obvious being that the residential rental market is a completely different animal than sales. cutthroat to say the least. order takers are a poison on both sides of the biz. when you provide no real value or knowledge, you should really find something else to do.

brokers have overhead - it’s a given. the mentality has always been to see how many rats - i mean agents - a broker can get. the more the merrier. more agents = a higher chance of them getting more deals done. but, the caveat is that the more untrained and unskilled people you have, the more headaches you will have.

is it really in the brokers best interest to have numerous people just sitting around waiting for an”order”? i think not. we need less agents who are great at what they do.

if a broker cleans house of bad and unproductive agents, then that’s one story. but if the agents work their arse off and are not appreciated or treated fairly, then leaving may make sense. there are always two sides of the story.

so your starting a new listing service? cool! send me details anytime, i’d be happy to review it.

thanks for sharing your thoughts with us.

best,

- rudy