So far we have discussed ways to get listings,the importance of being at the office and learning new things, and of course self image..but maybe I should have started at the very beginning. I'm talking about when you are in Real Estate school and you have not even picked an office to work out of yet...
I'm sure your instructor told you how to choose an office, but did he REALLY tell you how to pick an office? Here is my suggestion..
- A Nationional Real Estate Chain is the first place I'd tell any new licensee to hang their license. Why? Well, You will have a bigger audiance. People tend to stay with what they know. If someone is thinking about moving from another state and they have a Coldwell Banker, ReMax, Century21,etc in their home town that name sticks in their mind. When they look to purchase Real Estate in your town, and see that name, they are more likely to call your office to find an agent. This is a big reason why I am big on floor time for new agents. Also relocation companies will be more likely to call your company when their client is moving to your town..this relates again to being at the office, and learning how to work with relocation companies. Your company web site will be searched more often than a small local company. Again, people stick with what they know..
- Talk to other agents I'm sure you must know some agents or someone who is in the biz. What is the word on the street about local offices and the agents you may be working with? This is a big reason why I chose my Coldwell Banker office. The broker and the agents of my office has such a good reputation of being honest, helpful, and most of all supportive of new agents. There's no ego's around my office. It sounded like one big happy family. I heard agents speak of back stabbing, attitudes, and just plain unhappiness in some offices. Look at the success rates of other newer agents and see who they are working with..You don't know how much a team of supportive peoople will help you out when you start out.
- Find out what each office will provide you when you join. It is very expensive when you are first getting into Real Estate. Everything you can get will help. I would not suggest going with an office that gives you 100% of your commission and charge you office space for your first office to work from. You are better off splitting your commissions with your broker, it could be months before you have your first closing-you don't want to start out deeper in the hole than you alread are in.
- How much advertising does the office do in the local papers? This is huge. A lot of offices will spend a lot of money on advertising in the newspapers-advertising that they pay for. This means you can spend more of your promotional dollars in other areas, like your sphere of influance that paying for newspaper ads. I'm not saying to ignore the black and white, but the more free advertising the better for you.
- How many successful agents work from the office? Just because they are a nationally known company, does not mean their agents are successful. They are successful for a reason. A good brokerage is a big part of it.
Being a new Real Estate agent is very exciting with an endless income potential and more personal freedom than with your average 9 to 5 job. Just remember, the failure rate of new licensees is pretty high, and choosing the right office is a big part of you being successful. If you are new and feel like you are in the wrong place, now is the time to move before you have a large business base. \
Good luck to all!!
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