A Cushion to Ease a Transition
Bernie Weinbender’s Canadian brokerage pays a draw against
future commissions to keep agents’ income streams flowing.
I was farming 2,000 acres and running 40 head of cattle in 1986
and looking to make a change. Friends got me started in the
real estate business. After working for a couple of brokerages, I
bought a Century 21 franchise. Then I sold it in 2007 and joined
Century 21 Dome Realty as the managing broker. I’m responsible for the compliance, regulatory requirements, and administrative operations of the company.
I also oversee a program that guarantees a monthly income
to qualified agents. They have the option to receive a draw
against their future commissions. This gives us the flexibility
to recruit promising new agents or to keep good ones we other-
wise might lose.
Accountability Is Imperative
To qualify for the draw program, you have to be licensed, and
we have to see the ability to pay the money back. You have to
follow rules and perform tasks, which are outlined in a detailed
accountability plan. Each week you meet with your manager
to review the work you did that week and your plans for the
following week. We look at how many hours you spent prospect-
Managing Broker Bernie Weinbender left farming for real estate.
He now uses a flexible tool for cultivating agents.