Designated Managing Brokers

Everything You Need, Continually Updated, in One Place, to Set Your Office Up for Success

Mainstreet understands how important it is to have access to timely, quality information and guidance in our ever-evolving Chicagoland marketplace. The content and resources below will be continually updated with new developments, information and materials and has been curated exclusively for Designated Managing Brokers like yourself to utilize in engaging with and educating your office.    

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Important Notice

Mainstreet REALTORS® have reported receiving information from local or national website companies which serve to assist sellers or real estate licensees in sharing offers of compensation for listed property. While it appears that these websites companies are not affiliated with a local, state or national REALTOR® Organization nor Multiple Listing Service (MLS), we encourage you to speak with your company attorney to determine if the use of these websites will pose a risk to you or your brokerage based on the NAR Settlement.

You Are Worth Every Penny, But Do Your Clients Know That?

Now more than ever it is important your clients know what you do to help them buy or sell their home. Click here to download the list of 179 Ways Agents Who are REALTORS® Are Worth Every Penny of Their Compensation. We know that there are far more that just 179 though, click here for 105 more tips! This list was compiled by Mainstreet's very own Lynn Madison!

Explaining Real Estate Compensation

Still trying to explain how real estate compensation works to your clients? Click here to watch this short video from NAR to use as a visual guide for your clients. 

A few highlights from the video:

• Share how the process works

• Ensure buyers that agent compensation is always negotiable at the outset or as agreed to by the parties at any time before the transaction closes

• Costs should always be spelled out to buyers and sellers

• There are no standard commissions or service offerings

• To maximize transparency, the National Association of REALTORS® also encourages the use of buyer representation agreements

• Explain to clients that agents usually only get paid if the home sells. For sellers, their brokers are typically paid out of the proceeds of the sale

• You may even consider sharing why it's important for buyer commissions to be paid by the listing broker

Double Down on Your Skills, Knowledge and on You!

Mainstreet instructors Chris Read and Lynn Madison brought you a series of informative Coffee and Conversation sessions to help you invest in your future as a REALTOR®. How We Got Here, How to Talk to Sellers and How to Talk to Buyers will equip you with the tools and knowledge needed to grow and flourish in the changing real estate environment. Click on the links below to watch the recordings and to download the PowerPoint presentations. 

Competition, Transparency and Your Local Marketplace

As experts in the community, local REALTORS® help consumers navigate what is for many the most complex and important transaction of their life. The U.S. model of local broker cooperation is viewed as the best value for consumers around the world because it provides sellers equal access to the largest possible pool of potential buyers and creates the greatest number of housing options for buyers in one place without hidden or extra costs. Additionally, sellers making offers of compensation to buyer brokers also gives first-time, low/middle income and all homebuyers a better chance at affording a home AND professional representation. 

competition.REALTOR provides a comprehensive overview of how REALTORS® and the MLS marketplace benefit consumers.

Use this information to ...

• Tell your clients the value you bring to the transaction, what they can expect from your services and how you will be compensated
• Start an education campaign or publish articles on your social media channels and newsletters
• Show why the American real estate system that honors cooperation amongst professionals serves the best interest of home buyers and sellers alike

broker.REALTOR Resources through NAR

Now more than ever before the Designated Managing Broker must lead from the front. Using all available resources, insights and strategies to plot tactical decisions for your brokerage and REALTORS® is imperative. NAR offers Managing Broker resources to reinforce and sharpen your tool kit such as legal, safety, involvement programs and Broker summit registration. Click here for details.

Keep reading for more information on education options through Mainstreet and even a way to host classes in your office!

Personalized Office Visits: Live or Virtual, Your Choice

Did you know Mainstreet has a staff person dedicated to connect with you, our members? Mainstreet's Director of Member Outreach, Lynnette Mock, is your resource for everything Mainstreet (and lot's of other things!) You can include Lynnette in your next office meeting to educate and support your brokers regarding the current climate of the real estate market including, but not limited to:

• Competiton and transparency
• Value of a REALTOR®
• Member benefits
• Time-sensitive industry news and trends
• Professional Standards updates
• REALTOR® safety
• The latest in social media and marketing trends
• Contracts and forms

If the above topics don't fit the specific needs of your office, Lynnette will collaborate with you to create a value-packed presentation tailored to your office's unique goals and needs.

Monthly PowerPoint Slides for Your Office's Content Needs

Current, customizable content for sharing with your brokers between your Mainstreet Office Visits.

Anticipating your brokers' needs, both with resources and guidance, is part of fostering a successful brokerage. Mainstreet has a tool to help lighten the load that comes along with seeking out the most important news, updates and resources your office needs. Each month, the hottest, trending content is collected and served to you in an easy to customize set of PowerPoint slides. The slides are sent via email in our Monthly Managing Broker Update eblast. Previous topics include updates regarding the NAR lawsuits, contracts and forms changes, current events, unique education opportunities and member benefits just to name a few.

Haven't received your Monthly Managing Broker Update eblast in the past? Contact Dave Pollina at Dave@MainstreetRealtors.com or 630.324.8421 to ensure you don't miss the next eblast.

Continuing Education In Your Office (or Anywhere Your Brokers Are)

Nationally recognized instructors, quality education and knowledgable staff advisors.

Hosting Continuing Education in your office or a location of your choice gives you the ability to choose the right topics for your office's needs. As an added bonus, you'll ensure that your brokers have completed their education requirements; keeping your agents in business and in compliance. The process is also super simple; involving just four quick steps. 

Visit our In-Office Continuing Education page to get started now.

Designated Managing Broker and Brokerage Forms

Whether you're establishing a brokerage for the first time or adding agents to your office, here's a library of commonly used forms for managing brokers.