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Whether you’re new to real estate or have been an agent for a while, the real estate brokerage you choose makes all the difference. Here are the five things any real estate agent needs to know to find their next real estate brokerage:
1. Local Presence:
How involved is the brokerage and its agents in their local community?
To network and find clients, it’s important to have a local presence. People will notice a brokerage that’s sponsoring junior hockey games, showing up at events, or funding charitable initiatives. This helps build rapport, which is essential for real estate agents’ success.
2. Reputation:
Aligning yourself with a well-known, reputable brokerage will help clients know they can trust you. Building trust is essential; if you are new to real estate, you may not have “brand recognition” (just yet). Therefore, with a well-known brand behind you a client won’t be asking who is that and who is that brokerage they are with.
3. Training and Support:
How does the brokerage support their agents? Consider a brokerage with managers available to assist you, in
stead of a lone Broker of Record who is too busy running the brokerage with no time to help. Also look at formal training and education opportunities. In a constantly changing field, you should always be looking for growth opportunities and ways to stay knowledgeable of the industry and the market.
4. Technology:
You want technology to help, not hinder. So, if the brokerage is using dated, hard-to-navigate technology and programs, it might not be the place for you. Similarly, if the brokerage is constantly switching to new programs or using programs that aren’t synchronized, it could be taking away valuable time from your clients and your sales.
5. Commission Split:
This is not as important as the other factors, but is still something to consider. After you have some experience, you can decide what commission split works best for you and what maximizes your revenue.
There it is! Five things to consider when choosing a new brokerage. You can find out more information about a brokerage by research, asking for referrals, and talking directly with the brokerage and its staff.
