NC: Are you opening new offices or scaling back bricks and mortar?
BP: A little bit of both. We’re opening new mega offices and special boutique type spaces in addition to closing or consolidating others. This growth is much more enjoyable than having to reduce our costs while still maintaining our service to our associates and clients.
RC: We opened two new offices this year. While virtual offices are nice in theory, it’s difficult to penetrate a market without actually having agents working in the market from a “real” location.
NC: When it comes to agent count, are your numbers increasing or decreasing?
BP: We’re increasing new agents with potential and seasoned agents who have the ability to grow. We have a recruiting and training department that assists our managers.
RC: We’re focused on increasing the quality of our agents. That being said, we’ve added a considerable number this year while letting attrition move out the agents who are not that serious about a full-time career.
NC: What expense in your company needs the biggest shuffling now that the market is coming back?
BP: We actually began this process a couple of years ago by anticipating the improvement in the market. In the past, our company has looked at cycles like this as an opportunity to grow.
RC: It’s not any one particular expense. Instead, it’s a vision that everything we do should support the efforts of our agents and anything that doesn’t, isn’t necessary.
NC: Do you have any additional thoughts about this recovering market?
RC: As brokers, we need to stay level-headed and not get caught up in the hype that many of us did in the last good market.
