The 7 Characteristics of a Platinum Broker

Posted by Angela Hoffmann on Mar 18, 2024 6:00:00 AM

Platinum Broker

A "Platinum Broker" is distinguished as a broker who attains exceptional profitability compared to their industry peers. They excel in outperforming their peers in all leading categories and are representatives of best practices within the field. 


At "The Profit Centre," we conduct evaluations across key categories to accurately identify and designate individuals as Platinum Brokers. These evaluation metrics encompass crucial aspects of success, such as gross and net profit per agent, expense efficiency, employee costs, and the cultivation of organizational culture.


A Platinum Broker isn't necessarily the one who generates the highest volume or oversees the largest number of agents. It's easy to be misled by sheer volume metrics; however, the focus should be on maximizing returns on volume – a principle that defines the essence of success in the brokerage domain.


The evaluation criteria are focused on key metrics such as gross and net profit per agent, expense efficiency, employee costs, and the overall organizational culture. It's important to note that being designated as a Platinum Broker goes beyond just volume metrics; it highlights the ability to deliver a higher return on investment.


Characteristics of Platinum brokers include:

1. Hunger for self-improvement

They actively seek ways to improve themselves, demonstrating humility and engaging in active networking to learn from others and enhance their skills continually.

2. Willingness to take calculated risks

Platinum brokers are not afraid to take risks, but they do so after careful evaluation and analysis, understanding the potential rewards and consequences.


3. Embrace a profitability mindset

They prioritize profitability and understand the importance of creating profit in their business. They make decisive moves forward and are strategic in their financial decisions.


4. Fearlessness in making tough decisions

Even when faced with challenges such as changing compensation plans or difficult situations, Platinum brokers exhibit fearlessness in making tough decisions that are in the best interest of their business.


5. Absolute clarity of their numbers

Platinum brokers have a clear understanding of the key performance indicators (KPIs) that drive their business. They are diligent in budgeting and ensuring fair compensation for their employees.


6. Create a powerful and attractive culture

They prioritize creating a powerful and clearly defined culture within their organization. They focus on quality over quantity in agent recruitment, ensuring that each agent aligns with their values and goals.


7. Demonstrate integrity

They uphold integrity in all their dealings and do not compromise their values for short-term gains. These brokers recognize that not every agent fits their model or culture and maintain consistent processes and strategies.


Platinum brokers redefine industry standards and inspire others to strive for greatness in every aspect of their professional endeavours. How do you measure up?  Contact us here at The Profit Centre to find out if you are a platinum broker.

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Topics: Brokerage Profitability, Key Metrics, Success, Mindset, real estate broker, return on volume