RJ Wagner and Assoc. Realty
Management Summary
The initial management team is the owner/licensed broker. The broker of this firm has the only authority to sponsor oncoming licensed real estate agents under the corporate broker license. Upon joining this firm agents will receive a complete training program to include the broker’s published book, Texas Real Estate: The Mobile Mentor, a complete library to include all company documents and marketing correspondence furnished on CD-RW and/or Diskette, free inside/outside photography of all listings, marketing plan/goal setting guidance and counseling. This firm and their agents will experience on-site broker guidance and on-site mortgage advisory at all times.
At this time, this broker is an active listing broker. Recruiting licensed agents is now in process in the Houston and surrounding areas. This firm estimates to add a total of three licensed agents in 2001, with a minimum of 12 agents to be added throughout the year of 2002. (A minimum of one agent per month gain in 2002). This firm strives to obtain a minimum total of 15 licensed real estate agents contracting under this sponsored broker. Agents with this firm have the option to work in-house or out of a home-based office.
In addition to the real estate services provided by this corporation to homesellers and to homebuyers, this firm offers inside/outside photography services in-house as well as to other broker firms. This service is free to in-house agents and a service fee is charged to other broker sites and agents utilizing this service.
As RJ Wagner is a sole proprietorship, the principal’s personal net worth is given below.
| Personal Net Worth | ||
| Assets | ||
| Current Assets | Notes: | Balance |
| Checking | $1,500 | |
| Savings | $6,000 | |
| Investment | $58,000 | |
| Household Goods | $24,000 | |
| Auto | $6,300 | |
| Auto | $0 | |
| All Other | $0 | |
| Total Current Assets | $95,800 | |
| Long-term Assets | ||
| Main Residence | $150,000 | |
| Improvements | $0 | |
| Account | $0 | |
| All Other | $20,000 | |
| Total Long-term Assets | $170,000 | |
| Total Assets | $265,800 | |
| Liabilities | ||
| Current Borrowing | Balance | |
| Credit Card | $3,000 | |
| Credit Card | $350 | |
| Credit Card | $58 | |
| Auto Loan | $3,681 | |
| Other Current Debt | $1,500 | |
| Other Current Debt | $0 | |
| All Other | $0 | |
| Subtotal Current Borrowing | $8,589 | |
| Long-term Borrowing | ||
| Mortgage | $64,000 | |
| Other Long-term Loans | $0 | |
| All Other | $0 | |
| Subtotal Long-term Borrowing | $64,000 | |
| Total Liabilities | $72,589 | |
| Net Worth | $193,211 | |
6.1 Personnel Plan
This firm will not have employees but rather independent contractors. Therefore, the firm will not be issuing payroll to employees. Payroll will be issued to the broker of the corporation alone. All reception/secretarial needs will be complied with by the on-site/on duty agents on any given day. There will be two licensed agents on duty at all times.
Licensed agents will receive 3% commission on “one” side (seller or buyer side) of the sale spectrum. Of that 3% commission earned, 25% is awarded to the company. If an agent performs the act of the selling agent and also the buyer agent of the same property sale, then this agent would gain the full 6% commission (both sides of the agency), therefore, the corporation would be awarded 25% from each agency side.
We believe this plan is a fair compromise between fairness and expedience, and meets the commitment of our mission statement. The detailed monthly personnel plan for the first year is included in the appendix.
| Personnel Plan | |||
| Year 1 | Year 2 | Year 3 | |
| Wagner | $36,000 | $60,000 | $100,000 |
| Other | $0 | $0 | $0 |
| Total People | 0 | 0 | 0 |
| Total Payroll | $36,000 | $60,000 | $100,000 |
By 
