Key Brokerage Leadership Roles
This exclusive excerpt comes from the 2023 Swanepoel Trends Report. Now in its 19th publication, the STR is the definitive analysis of the most impactful trends shaping the industry. The report is available in digital and print formats.
To function well, the modern real estate brokerage has several key leadership roles it needs to fill with talented professionals. Depending on the size of the company, multiple roles could be performed by one person; in larger organizations, these roles are performed by teams of people.
Below are the key brokerage leadership roles, the responsibilities of each role — and what they typically pay.
Leadership and Management
The CEO or broker-owner often serves as a brokerage’s overall leader. Often, the person in this role is responsible for creating the mission, vision and values for the company and also for running the overall organization, including legal and compliance.
Compensation:
The compensation can vary widely, depending on how large the brokerage is and if it is a multi-office brokerage, regional brokerage or a franchise organization. The base salary range can be anywhere from $125,000 – $250,000, with a performance bonus of an additional $100,000 – $150,000. The performance bonus should be attached to increased company performance, such as Net Income or EBITDA.
Growth, Expansion or Sales Lead
A branch manager, director of growth or expansion, or sales manager often leads the vital sales role in a brokerage, with a focus on improving agent recruiting and productivity. At a high level, the sales department’s role is to generate revenue for the organization.
Compensation
: The compensation for this role typically starts with a base compensation of $125,000 – $150,000, with an uncapped performance bonus based on the achievement of key performance indicators.
Marketing Lead
In a brokerage, marketing is either under operations or a standalone marketing department. When companies grow large enough, generally they will create a marketing department that includes public relations, communications, branding and social media marketing. The marketing department promotes the business and drives brokerage sales and ancillary services capture, and provides the necessary market research to identify target customer audiences.
A significant focus of marketing work relates to supplying marketing tools, listing marketing materials and marketing programs to agents, and efforts that support recruiting. Depending on the company’s organizational hierarchy, a marketing director, manager or vice president of marketing might be at the helm. In some businesses, a vice president of sales and marketing oversees both the marketing and sales departments with a strong manager leading each department. A marketing lead can be a Director of Marketing, VP of Marketing, or Chief Marketing Officer. The associated compensation range varies based on the role.
Compensation:
The compensation for this role typically starts with a base compensation of $100,000-$150,000, and increases as the department expands. A Chief Marketing Officer in a larger organization can earn a base compensation of between $200,000 – $250,000, plus an incentive based on performance.
Operations Lead
While marketing and sales drive brand awareness and revenue, the operations department delivers on the brokerage’s promise to agents, consumers and its own goals. This means handling production, fulfillment and customer service. Real estate brokerage operations include transaction management, listing management, buyer and seller systems, transaction compliance and human resources (including hiring, onboarding and ongoing human capital concerns). An operations lead can be a Director of Operations, VP of Operations or Chief Operating Officer.
Compensation:
The compensation for this role typically starts with a base compensation of ~$100,000-$125,000, and increases as the department expands. A Chief Operating Officer in a larger organization can earn a base compensation of between $150,000 – $250,000, plus a bonus based on achieving operational objectives.
Marketing Lead
In a brokerage, marketing is either under operations or a standalone marketing department. When companies grow large enough, generally they will create a marketing department that includes public relations, communications, branding and social media marketing. The marketing department promotes the business and drives brokerage sales and ancillary services capture, and provides the necessary market research to identify target customer audiences.
A significant focus of marketing work relates to supplying marketing tools, listing marketing materials and marketing programs to agents, and efforts that support recruiting. Depending on the company’s organizational hierarchy, a marketing director, manager or vice president of marketing might be at the helm. In some businesses, a vice president of sales and marketing oversees both the marketing and sales departments with a strong manager leading each department. A marketing lead can be a Director of Marketing, VP of Marketing, or Chief Marketing Officer. The associated compensation range varies based on the role.
Compensation:
The compensation for this role typically starts with a base compensation of $100,000-$150,000, and increases as the department expands. A Chief Marketing Officer in a larger organization can earn a base compensation of between $200,000 – $250,000, plus an incentive based on performance.
Operations Lead
While marketing and sales drive brand awareness and revenue, the operations department delivers on the brokerage’s promise to agents, consumers and its own goals. This means handling production, fulfillment and customer service. Real estate brokerage operations include transaction management, listing management, buyer and seller systems, transaction compliance and human resources (including hiring, onboarding and ongoing human capital concerns). An operations lead can be a Director of Operations, VP of Operations or Chief Operating Officer.
Compensation:
The compensation for this role typically starts with a base compensation of ~$100,000-$125,000, and increases as the department expands. A Chief Operating Officer in a larger organization can earn a base compensation of between $150,000 – $250,000, plus a bonus based on achieving operational objectives.
Finance and Accounting Lead
Good finance directors need to understand every aspect of a brokerage to develop a financial strategy that will support the firm’s goals. In a real estate brokerage, this could include payroll, cash flow, budget, forecasting, recording and monitoring all company financial transactions, accounts payable, accounts receivable and invoicing. A finance and accounting lead can be a Director of Finance, Director of Accounting, VP of Finance and Accounting, or Chief Financial Officer. The associated compensation range varies based on the role.
Compensation:
The compensation for this role typically starts with a base compensation of $100,000-$150,000, and increases as the department or responsibilities expand. A Chief Financial Officer in a larger organization can earn a base compensation of between $150,000 – $250,000, plus a bonus based on achieving key financial objectives.
Technology Lead
The technology lead oversees all technology operations and evaluates them according to the brokerage’s established goals. In a real estate brokerage, the person in this role manages and directs the company’s technology operations related to agent tools and systems, tech support, product development and innovation, websites, network administration and enterprise architecture and security.
In some organizations, the technology and marketing roles are combined; sometimes, technology reports into marketing, since much of technology’s function in brokerage is marketing related. A technology lead can be a Director of Technology, VP of Technology or Chief Technology Officer. The associated compensation range varies based on the role.
Compensation:
The compensation for this role typically starts with a base compensation of $150,000-$175,000, and increases as the department or responsibilities expand. A Chief Technology Officer in a larger organization can earn a base compensation of between $200,000 – $300,000 plus a bonus tied to achieving company objectives.
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For more insights on hiring in today’s environment, read the chapter, “The 2023 Real Estate Brokerage Talent Playbook,” from the 2023 Swanepoel Trends Report.