Fann Realty offers new benefits to its agents

As an independent contractor, a Realtor does not usually expect a benefit package. Fann Realty is offering the unexpected and the incentives are paying off.

Linda Fann, owner and broker, started the business with the intention of encouraging agents. Fann Realty, which opened in February, has 16 agents and more than $3 million in listing inventory.

Fann said that when she got the idea to create an agency where the agents are treated as individual business owners, she only had to make one phone call for her vision to become a reality. Her investor, who wants to remain anonymous, asked what she wanted and Fann told him, "My own business. Something for agents. A way to give back to agents and make it worthwhile."

Four days later she had an office in Glenstone Square and by the end of three weeks they were "busting at the seams."

"We didn't do this to make ourselves get rich. The incentives are to help the agents be successful. We want to help build their self-esteem," said Fann.

Fann believes the incentive program they have put together is unique in the real estate business. Among some of the perks they offer:

Self-paid health insurance through the investor;

An agent-controlled 401(k) program;

Paid vacations or Christmas bonus;

Help with the cost of real estate school.

Agents who reach $3 million in production with Fann Realty in a year will get a leased van with insurance paid for one year. Agents who have 10 listings, two houses under contract and two completed sales will get their pictures on their own billboards.

"All of this is subject to change, too. We haven't been in business that long for it to be in place. It is in place right now," but subject to change, said Georgann Brown, Fann Realty's office coordinator.

Brown, while electing not to get specific about commission splits, said: "That is negiotable. If I got a producer in here at $3 million to $5 million, they're going to get a better split than the new ones coming in. The van and those things are on top of their commission.

"We are pretty much right in between some of them we are not the lowest and the highest starting out."

Located at 1722 S. Glenstone Ave., Ste. HH Fann Realty expanded its office space and purchased 14 telephone lines. The Branson office opened for business in April with Bill Harris serving as broker at that location.

"In the first month of business, we closed five properties," said Brown, who is Fann's mother. "Currently, we are ahead of our forecast for the year-to-date (earnings) projection."

Brown and Fann worked together for almost a year at another local realty company when they left with the vision of building an agency that would offer encouragement to its agents.

Fann and Brown had previously worked on two business deals with an individual who they knew had helped others. It was to this person that Fann made her initial telephone call.

Both Fann and Brown attribute the suc-cess of the business to their associates' benefaction, long hours of hard work and the family environment at the office.

In addition to her mother's role in the organization, one of Fann's sisters works as receptionist and another sister plans to join the team as an agent. Since Fann's husband works an unpredictable schedule, her father, who is retired, helps take care of her children "and the dog."

Brown said that sometimes potential agents are wary of coming into a strong family environment, but she believes they have put a system of checks and balances into place that guarantee all agents are treated fairly.

"When a call comes in on someone's ad, that agent will be assured of getting their call," Brown said.

Rachel Blackwell, an agent with Fann Realty, agrees. "The main attraction to working here is the family environment."

Fann said that she wants to see the business grow and grow big. She believes with the cooperative atmosphere and support she offers her agents, success will subsequently ensue.

"I just continue to be thankful and amazed for the wonderful people who have joined the agency on word of mouth alone," Fann said.