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Here is the history of real estate brokerages and real estate agents from the 1950’s to today, 2008, some 60 years later…
1950’s – In the 1950’s there were no women in real estate. Real estate was a man’s world - period. All deals sold by a real estate company were the real estate companies listing, with few exceptions. Brokers knew each other, but they rarely sold each other’s listings. The broker was also the “deal doctor”. The broker was the smartest person in the office when it came to real estate. Agents did not do a deal without the broker being involved and them going to every listing and buying appointment. The agent was basically the assistant. The broker was the agent in the 1950’s. Listings were kept on index cards and buyers viewed these cards only if they met the broker’s approval.
1960’s – In the 1960’s the first multiple listing service (MLS) was formed to help companies sell each other’s listings. The first multiple listing service was done with index cards, similar to how brokers had kept their listings before. Cards were sent to each other’s offices listing the commission that an agent from another company would be paid. Then the MLS progressed into the book that was published every week. An agent was prohibited to give this book to their clients. However, every Friday (or whatever day of the week that the book came out) the offices would have new listing night where families could come to the office and see the new listings in the new MLS book.
1970’s – Franchising became popular. Franchising offered real estate brokers some continuity in training. Franchising also brought in referrals from other parts of the country to the broker. The Realtor boards also started offering training and designations. The agents were able to tell the public that they were “trained” and that they have this or that designation. The Million Dollar Club became known as a designation to the public. However with all of this “training” agents became more independent and they started doing business without the broker.
1980’s – The real estate agents take over. They start marketing themselves on signs, not just the brokerage. The real estate agent starts demanding higher splits from the broker for the business they are doing. They start getting glamour shots and personalized advertising. ReMax starts with a bang and many agents leave their current broker for higher splits. Their thought is, they already know what to do to bring in their own business and they have been trained by the Realtor board.
Source: NIMMA BENGALURU

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