Posted by Leonard Steinberg on July 7th, 2014
In the past few months all sorts of rankings have come out showing how real estate brokers fare next to one another in either the number of transactions they close, the total volume of sales, or the total volume of exclusives they have on their books. I think the whole system is a big mess and in dire need of re-evaluation. For example, a recent list omitted the fact that Raphael De Niro, Darren Sukenik and I each have about $ 200m+ worth of signed contracts from 150 Charles Street that were not factored into the rankings….
Granted, ranking brokers makes other brokers greedier and more ambitious. But is it really a fair system when some teams as large as 40 salespeople or more are compared to teams with just a handful of brokers? Is a broker that sells real estate in New York better than one who sells much cheaper real estate in Arizona…..but just because of the extreme variance in selling prices the New York broker is automatically destined to ‘win’? Brokers use these rankings to their advantage, and I will be the first to admit I have touted my sales volume achievements…..knowing others are doing the same and probably ‘distorting’ their rankings to elevate their status in the eyes of the consumer, thereby gaining a competitive advantage. Well, I think I am about to end this: I no longer wish to participate in this tired game. Which other profession prints the sales volume of their salespeople, thereby broadcasting their income? I think its all a bit tacky. Worse, I believe it takes away the credit some brokers who sell lesser volume (but do so incredibly well) deserve so very richly. Just because a broker sells LOTS, are they the best broker? Just because a broker has a lot of listings are they the best broker? What if that broker specializes in helping renters and buyers and does huge volume without many exclusives? What about individual brokers who have silent partners and assistants but claim to do it all by themselves? There is a rather well known broker team that claim they are the NUMBER ONE BROKER TEAM…..NATIONWIDE…..when in actuality they are not even in the TOP 10 nationwide.
Why are gross distortions of this nature allowed and endorsed? Its sadly falsified and misleading advertising in a State where even mentioning the word ‘steps’ is illegal as it could be viewed as discriminatory against those with disabilities. It is time for a reality check and an HONESTY check. Its high time to give credit and praise to those lesser volume brokers who do some of the best, most professional brokerage……NATIONWIDE!