I'm With Compass - Ask Me Why?

Pretend you and I have just met. You discover that I am associated with Compass Realty, Portland's 12th largest real estate company. You know… the one you keep hearing about.

You ask the following question, "Tell me, what's it like at Compass?"

I answer, "How much time do you have? I have a lot to share with you." And so we start our conversation.

First let me tell you why I'm in real estate. Before I entered the work force, my parents insisted that I continue my schooling. "A college education is the only way to get ahead," they used to tell me. So, I attended college to keep them happy. But, what I really wanted to do was make lots of money, buy a cool car, and date girls.

After finishing college and four years in the Air Force, my first real job was building airplanes for McDonald Douglas Aircraft Company. I was union; worked 40 hours per week, and my wages were $6.57 per hour in 1968. I was told when to arrive, when to take a break, and when to go home. Two weeks before Christmas I was told my job was being terminated, due to lack of work. What an eye opener that was for me. I made a vow to myself; I would never again, work for any company where my job was dependent on an employer's whim.

I knew what I wanted, independence, the ability to set my own hours, and unlimited income. So, I decided to join the real estate industry. After interviewing with several companies I had dreams of huge paychecks, buyers and sellers calling to request my services, and a cool car. The company I selected had a big name, nice offices, lots of agents and a really nice Principal Broker. After my first month in business I needed to do a reality check. I had no business, no big checks and was still driving my 10-year old car. What had seemed so easy, when it was first explained to me, became more difficult when put into practice.

My first company, I later discovered, was known as a Traditional Company. Leads were generated by the office and distributed to the agents. Agents had little in personal expenses, but were required to give 50% of their income back to the company. The agents were dependent upon the company, in a parent-child relationship, for their new business. Sales training and coaching were available for those who requested it.

Well, I requested it. My first sales manager, Harvey Chriswell, had three rules: First, see the people, if you are not talking to 20 people each day you are not working, Second, focus on lots of small sales, never let any one transaction make a difference in your standard of living, and third, never cut corners, always do the right thing and you'll never have problems that come back to bite you. I took these rules to heart, worked hard, and became a top-producer.

My second company was an Independent one. They collected a $2,000 per month desk fee and agreed to pay me 100% of everything I earned. There was no training or coaching available. Only experienced agents were hired, and we all worked independently from each other. The atmosphere was professional but agents focused on their own business with little sharing between them. The company was more interested in keeping desks filled than helping us to increase our income, or improve our business plans.

When my wife became licensed, they increased my desk fee to $4,000 per month. What that actually meant was, in order to receive the first dollar of profit; I had to earn $60,000 to cover our annual desk fees and business expenses. That's when I decided to find a different kind of company, a company designed for agents, a company with low fees, a company that focused on teaching me how to become a more productive and increase my income.

And that leads me to what I discovered about real estate. First, agents are considered by most companies to be necessary, just like desks, chairs and computers. Second, as long as you keep producing they leave you alone, so alone in fact that you may never be exposed to new ideas on how to grow your business. Third, professional give and take with your peers is more like a social club than a learning experience. Fourth, the top producers work from home offices or in the field, not at the company office. Fifth, this career can consume your life and reduce the time you have with your family, and sixth, retirement is a dream unless you make it happen yourself.

"So. Why are you smiling?" you ask. "Because I'm with Compass." I shoot back. And here's the story.

Compass is different. It follows a different model. It is an Interdependent Company where agents are recognized as the most valuable asset. The relationship between the agents and the company is one of give and take. Agents are treated as entrepreneurs and business partners, they are involved in the decision making process, they help the company to grow, and they receive guidance and business development for their own real estate practices. The relationship is one of adult to adult. It's all about having a balanced life, and a business built by design.

Unlike other companies, Compass Agents receive many systems to help them grow their practice. One such system is the Call Capture Hotline. This 24/7 system is used to provide pre-recorded information to buyers and sellers, while capturing the names and phone numbers of those who call. One inexpensive ad placed in the newspaper can generate multiple inquires and provide you with ready-to-buy or sell prospects. Think of this system as floor time without having to answer the phone.

Another tool is the personal Business Management Platform provided to each Compass agent. Not just a web page on the company site, but an entire Internet Business Management System that allows you to manage your business from anywhere in the world. This system places you as the only contact for over 20,000 MLS listings. It has contact management software to help you to manage your leads, and a state-of-the-art automated email feature that provides new listings, automatically, to prospects in your database. Used properly, this system can generate well over $100,000 a year in income to you.

A third system is one of individual Agent Home Offices. These home offices allow agents to work like top-producers, and insure all leads generated go directly to them. At Compass, agents are guided through the process of setting up their Home Office systems, and then trained and coached on becoming a top-producer. Compass agents are much more productive working from home, than most other agents working from company offices (For those needing outside office space, it is available through Compass at reduced cost).

The fourth system is the Talking House system. Each agent has access to company owned machines, along with training and manuals on how to generate listings and leads. Sellers love this Talking House approach. They can actually see buyers, parked in front of their home, listening in on their car radios. The Talking House is only one element of our exclusive listing program, one that rarely misses getting you the listing.

Another system for listings is the Compass Realty $10,000 Bonus Drawing. Sellers who use this listing tool will generally sell their homes in days instead of weeks, with multiple offers, and many times for more than full price. This system is part of the Compass Listing Presentation, with training given to each agent on its use. It is finely crafted to make your task of listing easier.

The last tool is Errors and Omissions insurance. You know, malpractice insurance for doctors, only for Realtors. Most companies pass this cost on to the agents with fees of up to $780 per year. But at Compass the coverage is part of the compensation plan (with no separate fee).

At Compass, agents are treated as business partners. Income goals of $100,000 to $250,000 are common. Through goal setting, mentoring, coaching, and training these goals become a reality. Many agents join us because they have reached an income ceiling with their old company and just can't get through to the next level. At Compass our main mission is to help you attain the income you desire while helping you maintain the life you deserve. A balanced approach to real estate is always recommended. What does a huge income mean, if you never have time to enjoy your family while earning it?

Sales training is readily available. Each week multiple classes are given on different aspects of the real estate business, how to list, how to sell, how to hire an assistant, how to create a team, how to find yourself when you're lost, how to get back on track, how to enter management, how to execute the basics, perfectly every time, and other subjects of interest. At Compass, the training never stops.

Are you tired of high desk fees? Many agents are paying $18,000, $23,000, $28,000 or more in desk fees. Some companies have no income caps at all. I know of one agent who paid over $65,000 for the privilege of working for her Traditional Company. Compass agents pay a low fee of $6,000 per contract year based on a 70/30 split. They receive 100% thereafter, subject to a small $250 transaction fee on the first 24 closings. Did you know it generally takes just four closings to reach 100%? You will immediately see an increase in income, just from our lower association fees.

Retirement may be a goal for you. Compass offers retirement planning for each agent. You are encouraged to set up your own personal retirement plan, including training on how to invest your pre-tax dollars into your own real estate portfolio. Methods to sell your practice when you are ready to retire are also taught. Getting old in real estate no longer means reduced levels of income or accepting a lower standard of living.

Management and ownership may have some interest for you. As Compass continues to expand, these opportunities will become available. Our current plan is for eight Agent Service Centers in the Portland-Vancouver area, with Eugene, Salem, Bend, Tacoma and Seattle targeted next. If you want to get in on the ground floor of a growing company, there are lots of ownership opportunities available here.

So. Why am I smiling? Because I'm happy, life is sweet, and I have time in my life for other things beside real estate. I love my work, and I love working with my associates and the staff.

The difference for me is having prospects, systems and sales that allow me to grow my own business on purpose, not just by accident. If you feel you are not getting your fair share, or if you are not earning the income you want, call Compass today for a confidential interview. Our number is 503 698-6988 to set up your appointment or just complete this easy I'm Interested in an interview form. Please call today, while this conversation is fresh on your mind.

Thanks for listening, and good luck on your real estate career.