SANTO DOMINGO - Wershin Montiel, associate broker of RE/MAX Metropolitana, maintains that the failures generated in the master broker model lie in the fact that in the sector there are good salespeople building the figure without having generated in themselves the criteria and managerial character that is required for it.
“In other words, we have good intentions but poor execution. Projects of this caliber aren't just executed; they also need to be resolved. And if we lack the vision, skills, organization, and managerial commitment to see it through to the end, we've already arrived," emphasized the former organizational culture consultant for the franchise, who also served as general manager of RE/MAX Metropolitana for three years.
Regarding the abuse in commission payments, which would be affecting sub-brokers, as Reyna Echenique stated in an article published in this media last week, Montiel responds that it may happen but that, nevertheless, he is inclined to think that the issue stems from a lack of intelligence and wisdom in doing business.
“And we trap ourselves in payment schedules, with the unpleasant result of being unable to fulfill the promises we make in our offers. Then the real estate agent, who is part of the sales force, feels taken advantage of. Acquiring the intelligence and wisdom for the business is, quite literally, better than silver and gold. Therein lies my first invitation,” he explained.
Wershin Montiel. (External source).
For the associate broker of RE/MAX Metropolitana, the success of executing a project under the figure of the master broker lies not in the sale of the units, but in the preliminary negotiation, in the "purchase of the business".
He explained that if negotiations are conducted from a complacency , with the sole objective of retaining the funds, transparency and the firm commitment to commission payments in terms of method, form, and time are at risk.
“ Then many setbacks arise along the way, discouragement, little synergy and/or dynamism—a scenario unsuitable for real estate professionals with a strong heart, and one that lays the groundwork for a potentially unpredictable outcome. If we negotiate from a competitive standpoint , then we will be forward-thinking, proactive, and preventative regarding the clarity and monitoring of processes, conditions, and commissions, in order to facilitate the smooth running of business ” he stated.
He said that some real estate agents have suggested to him that it is the trust that complicates and delays the commission payment process, in those cases where the project is protected by this figure.
Montiel considered that this figure oversees and safeguards the investments of the various stakeholders involved in the project, and has its formal structure; however, he noted that the main party responsible for and interested in the sale of the offered product is the developer, therefore negotiations must take place with them. "You can secure the best conditions for everyone, at the best possible cost for everyone, by working with them."“.
Wershin Montiel agreed that the figure of the master broker should be part of the bill to regulate real estate intermediation that is currently being considered in the Chamber of Deputies, although he also approves that it can be included in some regulation derived from said law or through a rule issued by an organization such as the Association of Real Estate Agents and Companies (AEI).
Montiel reminded real estate agents, particularly master brokers, that it is of paramount importance to exercise sound judgment. “ That is to say, to be present and share what we know is good, for the mutual growth of our real estate businesses. That is my final invitation,” he concluded.
