Broker Spotlight: Brenda Thompson, HomeSmart Stars

In these times, double down — on your skills, on your knowledge, on you. Join us Aug. 8-10 at Inman Connect Las Vegas to lean into the shift and learn from the best. Get your ticket now for the best price.

Are you receiving Inman’s Broker Edge? Make sure you’re subscribed here.

Broker Spotlight: Brenda Thompson

Name: Brenda Thompson

Title: CEO / managing broker / owner

Experience: 21 years: two years as an agent and 19 years as a broker

Location: Dallas / Fort Worth, Texas, office in Plano, Texas

Brokerage full name: HomeSmart Stars

Team size: 105 agents

Transaction sides: 400 closings in 2022. YTD 2023 is charting at a 15 percent increase over 2022.

Sales volume:  $144 million in 2022

Awards: Designations/Certifications: ABR, AHWD, ASR, C2EX, CHMS, CRB, CRS, e-PRO, GRI, RECS, SFR, TAHS, TRLP

“Five Star Real Estate Agent” awarded 10 years consecutively by Texas Monthly Magazine (2013 through 2023)

“Best in Plano” awarded for real estate brokerage category to HomeSmart Stars in 2022 and 2023

Have been featured in articles in Agents Today, Forbes, Business Week, The Wall Street Journal, RIS Media, Texas Monthly, and Texas Top Agent Magazine. 

What do you wish more people knew about working in real estate?

I wish they knew about the dedication of agents in working whatever hours fit the needs of the client. I wish they knew about the entrepreneurship of agents to spend an extensive amount of time assisting clients, negotiating like crazy, and the expense of financial resources in marketing properties, self-marketing, licensing, membership in required associations, business resources such as MLS, websites, print materials, and more, all before compensation has been received. 

What are 5 things you’d like readers to know about you and your brokerage?

1. I love the real estate industry. Our brokerage is a reflection of that excitement for the industry. We love what we do.
2. We know our agents and have frequent training and social opportunities for our agents to connect with each other, staff and myself. 
3. I’m a bit of a self-proclaimed contracts geek. We pride ourselves on doing things the right way and with the best of intentions and attitudes. 
4. Our office is a beautifully diverse melting pot. We have agents from all types of backgrounds and are able to serve any community and in nearly any language, too. 
5. We provide our agents with a silver platter of tools and they have the opportunity to choose which tools to put in their own toolboxes. 

Tell us about a high point in your brokerage career.

I started my career in real estate in 2002, following an entrepreneurial career in the medical industry. I first held my license at a national brokerage, then obtained my broker’s license and opened my own boutique brokerage with several agents.

By the end of 2010, I had the privilege and honor of launching a new brand, as the first broker in the flagship office of a brand-new model. We established everything from processes to systems to all facets of the business, in a scalable fashion that could be replicated. I was able to build that first office, grow it to 350 agents and lead it to become the second most productive office in all of Dallas County, Texas, with 92 percent of the agents producing.

Subsequently, I joined the executive team to grow the network nationally. In nine years, the “vision” had grown to 85 offices across the country with 10,000 agents, all from that start of me being the first broker to open the first office. I enjoyed the experience immensely.

After nine years, I chose another leap, to follow another adventure, and to create and grow my own office again. I’ve been blessed to have opportunities to create and grow businesses, to mentor and coach, to give back by serving on state and local committees and boards of directors, to speak on stages in nearly every state across the US (including the Inman Connect stage), even to emcee conferences, and I’m not done yet.

The adventure continues as I’m always up for an adventure of growth.

What’s your top tip for freshly licensed brokers?

Find a mentor, a coach or a tribe you can connect with. You need a person or group you can bounce ideas off of, share successes with people who will celebrate with you, and lift you up in the hard times, too. Whether in person or virtual, local or national, you need regular check-ins with a mentor, coach or tribe. The same is true for new agents and is magnified for new brokers or brokerage owners. 

What makes a good leader?

Ears. Yes, really. Ears. The ability to really listen. A leader should listen to circumstances and individuals around agents, clients, corporate/board/owners, technology, other industry leaders, and to decipher how it all fits together and what actions need to be taken to account for what’s happening today and use that knowledge to predict the future.

At the same time, a leader should be careful not to dig too deep into the details. One must know the difference between what to listen to, what to lean into, what to delegate, and what to discard as noise.

I love the operational details as much as anyone. However, as brokerage and industry leaders, it is imperative that we keep a 30,000-foot view to evaluate and impact change. So, while I point to the importance of ears, I could add that there’s an importance in knowing when to put on the noise canceling headphones, too.

What’s one thing you wish every agent knew?

You don’t know what you don’t know. Don’t be afraid to ask questions. Partner with a brokerage with an involved leader, who is passionate about training and giving you the tools you need for success. 

Know someone who should be featured in an upcoming Broker Spotlight? Nominations, please, to brokeredge@inman.com.