Who You Work For Matters: How to Find the Right Brokerage For You
The job you have can make all the difference in how happy you are in life, but the people you work for and the people you work with can truly determine how happy your professional life will be. If you’re searching for a new job, you should research the companies you’re considering working for, just as an employer would when hiring a new employee.
The right brokerage can make all the difference so it’s important to know what to look for if you’re starting your career in real estate or looking to make a change in your career. Today we’re sharing the factors to consider when searching for the right brokerage for you.
Commission Split & Fees
As a real estate agent, you’ll most likely get paid based on commission. When you sell a home, you wouldn’t take all the commission from the sale but would split it with your broker. Usually the brokerage will give the agent a little more than half the commission, but every brokerage is different. You should also be aware of any fees you are required to pay. The fees usually go to a variety of things including office space, office supplies, marketing, and signage. While the commission split and fees are an important factor in your decision, they aren't the only one. Do not rely solely on how much you are able to make when searching for a brokerage.
Is this brokerage a franchise or are they independent? Are they known for being tech-savvy or more traditional? Start doing your research. Google their company name and then do a few searches such as “homes for sale in [local area]” or “sell my home in [local area]”. If the results come back strong, then that’s a good sign. A brokerage with a lot of online presence and a good reputation means they are probably trustworthy and a good team to work for. You want to work with a team that has a strong marketing presence online and is known around town in a good way.
Culture is one of the most important factors when it comes to finding the right brokerage. First you have to decide what kind of culture you are looking for in your work environment. Do you prefer a small team with a few close-knit people to work with? Do you like having are large team where everyone works more independently? Do you like to know everyone is there to help each other out? Try to see if you can talk to some current agents at the brokerage to understand their take on the culture. You could also take a look at their social presence and website to see if they post about any team building events or if they spotlight any of their agents online — this is usually a good sign of an inviting and friendly culture.
Technology & Lead Access
In the world of real estate, technology is constantly changing so it’s important to stay on the cutting edge in terms of technology and marketing. Is this brokerage using any specific technology for their CRM, social media, or marketing? You should also ask what leads you’ll have access to. Do they have exclusive access to Zillow or Reatlor.com leads in your area? Are leads split up evenly or distributed among top-performers? These questions are extremely important to ask when searching for a brokerage because they will either help or hinder your career there.
Training & Support
Aside from having training for new agents, does this brokerage have any other trainings they offer their agents? The real estate market is in constant ebb and flow, which means you need to stay on top of the changes in order to do well in your career. If the brokerage you’re considering offers consistent trainings for their agents, that’s a good sign that they offer support. You should also consider if the leadership at the brokerage has time to support their agents or if they offer any kind of mentorship programs. Support is really important whether you’re starting as a brand new agent or a new agent to a brokerage.
We hope these tips help you when deciding which brokerage to work for. Who you work for matters, and can change the path of your career for the good or bad.
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