Organization and Management
Management is the Brain of the Organization
Management organizes and directs the firms activity
Management establishes the firm's goals and directs the manner in which those goals are attained--labor implements those goals
Role of Management
Implementation (Book calls this activation)--Job descriptions
Types of Management Functions
Line functions are direct functions of the firm's purpose; such as the listing and selling function.
Support functions are necessary functions not directly involved in the firm's purpose, such as secretarial, and other "house keeping".
Specially support functions are professional activities such as accounting, legal counsel, etc. These are often contracted out.
Structure of Offices
Independent contractors: implications of independent contractors vs. employees
Independent contractors employing personal staff [Top producers sometimes hire their own support staff. Discussion should also cover problems with office space and resources, as well as the relationship with the broker,when this option is used.]
Cooperating independent contractors [Sometimes salespersons can better use their talents when they job share. For example, one associate may have a terrific telephone technique and be good with detail work, while another may be a great negotiator and closer. Together they make a good team.]
Broker's Services to Independent Contractors
Data Support Services
Small Office Structures
Large Office Structures
Administrative controls [How does the firm structurally monitor performance and quality control?]
Reporting to supervisors
Reporting above supervisors
Office Size Issues
Office space per person
Optimal number of people per manager
Post-employment forms and procedures
Post-employment Forms and Procedures
Forms should include:
Personal information--Birthday, anniversary, family names
Office orientation--welcoming party?
Scheduling (They must give you their schedule rather than you give them one.)
Keeping a Personnel File
Copy of their license
Copy of their SS card
INS form certifying citizenship
Frequent Informal Meetings
Periodic Formal Evaluations
Three month on new hires
Evaluations should begin with positive traits and end with areas that need approval.
Additional training may be needed.
Document problems and action taken in personnel file.
Warning if problem is severe
Termination of Personnel
Most unpleasant task
Policy manual should specify offenses which result in immediate dismissal.
Should be done in person
Should not be done in anger
Should be done when embarrassment is minimized
Broker should be prepared to clean up unfinished business
Desk cleaned out immediately and keys surrendered
Other personnel should be notified with care