REAL ESTATE AGENCY FIRMS : STAFFING AND ORGANISING

Abstract

The quality of staff recruited in an organisation has great impact on the performance of an organisation. A firm whose philosophy is on quantity in terms of staff size rather than excellence and quality in their selection of staff is bound to lose out in terms of high turnover and loss in repeat business. This study attempts to examine the types of estate agents employed, the compensation used to motivate and retain the agents and the organisation of the real estate firm to maximise the deployment of staff. A compensation scheme which is equitable, well balanced and relates to performance is necessary to motivate and retain high producing staff. However, the current compensation schemes implemented in most of the real estate agency firms are seen to be inadequate in motivating its staff. This is especially so for the incentive scheme as found in this study. In any organisation, proper co-ordination and allocation of work is necessary to encourage the staff and to create a friendly environment conductive to teamwork. This study shows that most of the firms practise specialisation of service and central allocation of work so as to maximise the marshalling of human resources in an organisation. It is thus perceived that the real estate agency firms today are aware of the importance of individual staff but does not reflect this in their compensation scheme adopted and do very little to encourage or retain their staff.