I attended one of our office meetings today, and got a question asking for an example of systems being used to make brokerage more efficient.
Every broker must comply with state, provincial, or other governmental regulations when reviewing and approving transaction files. Whether your company is large or small, a standardized process for this is essential so you don’t miss anything – similar to a pilot’s checklist prior to taking off in a plane. Many large companies with several branches have traditionally tasked their office managers with this responsibility, thus de-centralizing the process. There are some efficiencies to this, but I believe it also creates inconsistencies in the quality of the contract review process, because each manager has different opinions and thresholds for acceptable contracts.
Our company is large with many branch offices, and we choose to centralize this process. This allows us to train a small group of contract review specialists to review ALL of the company contracts from every branch. This results in consistent information going to agents about corrections, answers and procedures. It also avoids duplication of the same position from branch to branch.
How does your company handle the contract review process?