Such a well written e-mail by our Vice President of Sales…I just had to share!!

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Dear fellow local Real Estate Professionals,

Have you heard the news? Apparently there are companies out there that will offer huge splits, caps, profit sharing, training, coaching, etc. etc. and based on the messages being sent by the leaders they have massive agent counts, and huge increases in production, market share, internal rankings, etc. etc. They even attach graphs that make all of the other large and clearly successful companies look as though they’re failing miserably.

I wanted to share my humble thoughts on this out of respect and fairness to the intelligence of all of the local agents who receive these incessant claims that disparage the success of others who have worked very hard over many years to reach their levels of legitimate accomplishment.

If you’ve read that Prudential California Realty has only increased by a meager 24% verses another firm that is up a whopping 2400%, it would stand to reason that one could get the impression that the other firm was just blowing the doors off of Prudential, and the other firms with modest increases in comparison. So let me shed some light on the reality of the very misleading and disparaging graph;

If a company did 1 transaction in 12 months and then the next 12 months that company did 2400% more business than the previous period, they would have closed only 24 more transactions. This is an example, but to be clear, we are talking about small numbers translated into embellished percentages to create a graph to make others look bad. As an equal comparison, Prudential California Realty actually has closed a total of 514 transactions in the previous 12 months in Yorba Linda and Anaheim Hills. A 24% increase in business would be about 123 more transactions in a relatively small market area! So I ask you, who’s story is more exciting to you? Who is really making an impact in the market area? Who is attracting MORE buyers and sellers? Who’s agents are winning more listings, more sales, more appointments, etc.? I urge anyone at any of the other named large firms on the chart that was sent out to do the math for their own firm. You’ll feel a lot better about your success and “modest” growth too. 🙂

I’m sure you hear the claims of double digit numbers of agents joining these firms and number like 100, 110, 130+ agents have joined too. Internal high rankings for “agent count”. And the thought is that “wow” that’s huge! A simple scan of the PWR or roster will provide tremendous clarity into the truth. The other glaring fact is that any company can hire licenses to inflate their roster count, but isn’t what we do about selling more homes? What am I missing here that “agent count” is the new measurement of success? No offense to agents who sell 1 or 2 per year, but at Prudential, these are generally agents who leave us who are looking to get “all the money” on a few transactions, verses increase their production by taking more listings and sales. This is NOT the Prudential model, and I don’t imagine it is many others either who have achieved large success in this industry as a firm. In the end, we believe that it is simply all about the customer and provide services geared to help our agents get more of them and therefore make more money as a result!

But what about “profit sharing” or recruiting incentives, aka “mailbox money”? That sounds attractive… Right? If it were really something substantial and easily obtainable, it wouldn’t take a 12 page handout to explain it…. Would it? At Prudential, we aren’t looking to sell you into some program to turn you into “recruiters” waiting and waiting for your “mailbox” money to show up if/when the company achieves profitability. Rather we offer a very quietly promoted program called TeamBuilder that is a legitimate “revenue sharing” program. It’s simple… When an agent you referred, joins the firm, and closes a transaction, you get up to 3% of the GCI the first year and then 1% forever, paid to you every quarter. No strings, the company doesn’t have to be profitable, no hoops to jump through, a check just shows up! Just ask agents like Ashlie Ducros, Karyn Schonherz, Stephanie Francoeur, Rich Thorson, Carole Geronsin, Sally Radi, Pam Minier, Erika Ferguson, Ron Lippa, and many many others, who have all gotten checks ranging from $60 to several thousand dollars in a QUARTER! It’s real money and they don’t need to have a Phd to figure out how and how much they will be paid. With that said, we’ve never hired an agent because we have this program. Agents join Prudential because it’s “where you go when you want to grow”!

To keep my email from getting even longer, I will save some for my next letter to you all next week. Just keep in mind that you may not want to UnSubscribe just yet. You really don’t want to miss my “Boast Buster” emails. At the very least you’ll be informed and know what “everyone’s’ talking about.

In closing, I sincerely would like to thank all of the great Realtors in the community of North Orange County. We are a proud community and have some of the best agents in the entire county, state, and nation here. We work together in a respectful and professional manner and my goal is to simply encourage that continued behavior. I am genuinely impressed with so many of the successful firms that have served North OC for so many years. Their success cannot be ignored or diminished by some manipulated percentages. Let’s all play fair and keep doing a great job in our community!

Brad Pearson,
Vice President, Sales

P.S. I have attached the % graph that was sent to our agents recently, as well as the most recent Year to Date Unit count ranking for Anaheim Hills and Yorba Linda markets combined as was done on the other graph to offer a clearer picture of the “rest of the story”.


About erolbayraktar

Erol Bayraktar, BRE 00179251 Manager Coldwell Banker Previews International Irvine Erol Bayraktar brings with him a broad background as branch manager of the Coldwell Banker Quail Hill – Irvine office. Erol is an Orange County native and began his real estate career in 1994. Erol’s success and extensive experience in selling homes in the luxury market proves to be a cherished resource for Coldwell Banker agents. He has earned numerous top-producer awards with the successful completion of more than 100 transactions. Erol has an extensive track record of helping his agents achieve top producer status while utilizing his internet expertise, personal coaching, training and business development. He works constantly with agents to develop marketing materials and advertising programs that differentiate themselves in the marketplace and generate income-producing leads. He values the benefits that technology can provide to agents in order to help them become more efficient and more productive. “I constantly strive to take our sales associates and office to the next level. It is my goal for our customers to continue to be extremely satisfied with the services we provide through our professionalism, market knowledge, personal attention and complete family of services experience. It is my goal to help others enjoy the same levels of success that I have been fortunate to enjoy!” Coldwell Banker Quail Hill – Irvine agents benefit from a manager who is available 24/7 to assist with any situation. Erol provides backup for his agents with various situations in which they need advice or support. Prior Sales Manager Prudential California Realty Yorba Linda Erol Bayraktar brings a broad background to the job of managing an office. His Experience includes a track record of success in real estate as well as helping agents achieve top producer status as sales manager and trainer using his expertise in personal coaching and business development. Having grown up in Yorba Linda, Erol began his Real Estate career in 1994. Since then, he has constantly striven to work in the Luxury markets and higher end price ranges. Erol has been recognized by his former companies for his outstanding production in the luxury market. He has listed and personally sold homes up to $4.4 million dollars and managed listings for his team up to $11 million dollars. Erol’s extensive experience in selling estate homes will prove to be a wonderful resource for Prudential’s agents, who already have a strong presence with Fine Homes in Yorba Linda and across North Orange County. Rich Cosner, owner of Prudential California Realty, is thrilled to welcome such an exciting addition into his Prudential family. “Erol is a knowledgeable and very professional addition to our management team,” says Rich. “His experience in the high end price ranges makes him a perfect fit for our Yorba Linda branch. I am confident that his experience and background will be a tremendous advantage to our agents in our Yorba Linda marketplace!” Top Producer Experience As a native of Orange County, Bayraktar applies his impressive local market knowledge to his practice – which has earned him numerous top-producer awards and has ensured his successful completion of more than 100 real estate transactions. After spending the past two and a half years focusing on Luxury Estate Sales with the McMonigle Group, Bayraktar now brings his unwavering commitment to client service and proven sales talents to Prudential California Realty. Coaching & Training Agents for Success Erol is equally thrilled to work with Prudential California Realty and the Sales Associates in the Yorba Linda office, who have already been recognized as the top ranking real estate office for the area for all of 2009. “I look forward to taking the sales associates and the office production to an even higher level. It is my goal for our customers to continue to be extremely satisfied with the services we provide through our professionalism, market knowledge, personal attention, and complete family of services experience. I have always wanted to be in a leadership position where I can help others enjoy the same success that I have been fortunate to enjoy!” Availability 24/7 Agents in the Yorba Linda Office benefit from a manager who is available 24/7 to assist with any situation. Erol provides back up for his agents with various situations in which they need advice or support. A Passion for Excellence in Business Development, Technology and Marketing Erol works constantly with his agents to develop marketing materials that differentiate themselves in the marketplace and generate income-producing leads.

Posted on August 16, 2012, in Uncategorized. Bookmark the permalink. Leave a comment.

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