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#354004 - 10/08/10 04:15 PM Family in a family business
soldhomes83 Offline
Member

Registered: 08/05/10
Posts: 436
Loc: OH
Living in a small Midwestern town I wanted to get another point of view or some opinions. The broker / owner of my office has decided over the last 2 years to bring his family into the business. It started 2 years ago when his son-in law came to work with us. Now his son in law and 2 of his daughters have joined the office as well. Now this is my problem. He is paying his son in-law a very large salary comparable to a 2.5 million producer, yet he produces only about $500K a year. His is paying one of his daughters to be a part time sectary at one of our branch offices and the other one he is paying the same as his son in law. Still not a problem it’s his money his choice. This is the problem they are all lazy, show up late leave early have 4 to 6 floor time slots a week while other agents have 2 at most. We are the biggest company in our area; we are double the size of our closest competitor (who happens to be a national chain).we have twice the agents, ½ to ¾ of the market share in listings and solds and a state of the art lead generation system that is rigged to provide his family with the best leads. Now the major deal is he is all over the other agents to produce more, list more, make more advertise more and etc... While his family does nothing knowing Daddy will support them. They have no incentive to work harder or at all really... I just don’t know what to do... I am the 3rd biggest producer in my company and feel like I have been completely disrespected and smacked in the face…
I feel like walking, but going to another company is not really an option at the time as I have just secured several large yearlong listing contracts... I really just wanted to vent and say… tell those kids to do it the right way or not at all…….. People like them are who give agents a bad reputation…

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#354132 - 10/10/10 11:59 AM Re: Family in a family business [Re: soldhomes83]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 8478
Loc: georgia
Well it's his business not yours.

As a broker and owner myself agents will often have various viewpoints on things.

I do not always agree to their position but I am open to listening FOR A SHORT TIME.If it goes on and on there will be a problem to be rectified.

It seems like you are upset they work less and make more in your eyes. I understand as we have a big preacher here and he set up his daughter at age 20 to record his cd's and tapes and make 85k to 100k a year for a cushy job. Meanwhile the funds were paid out of the church's budget from families who gave offerings who had very little to speak of.

I take issue with such things and I am no longer with that church.

So you can't change others perceived unearned success.All you can do is focus on yourself and if it gets worse leave.

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