I found this blog entry pretty accurate! When I made my move- I actually started my own company...its been great. But as I have always said- if you are unproductive at one company- you will be unproductive anywhere- same goes for success. The change should come because of how much of your money you are able to retain- by negotiating a fair split with your Broker. You have to be willing to find your own business if you are to be successful in Real Estate...you can not just sit back and wait on company leads... thats my opinion and its how I have made it in this business. I am responsible for my business- not my Broker :)
Most experienced agents have gotten the call. You know. The one from a broker from another firm calling or emailing you to come over and check out how green their grass is – much greener than where you are now.
Sometimes the grass is greener. Just as often, it probably isn’t.
To stay in business and thrive, a brokerage has to be able to attract new agents, and it’s usually more profitable to try to hire good agents from a competitor than to grow your own.
It may be flattering to know that you are wanted, but it’s not a reason to make a move.
There are some triggers that make agents stop and ask themselves if their current office is and will continue to be the best place for them to work:
- Their productivity takes a plunge
- They have a row with their broker or a colleague in the office
- Rich guys in New Jersey buy the company
- The owner of the company fires their manager
- The brokerage is family owned and the owners become embroiled in a family feud
- The firm fails financially
- The owner gets sent to jail
- Some sweet-talking competing broker does a full court press drive to lure you to his office
Before you start packing up your desk, keep in mind that you need to be making a business decision here. And unless your broker goes to jail or the company goes bankrupt, the other triggers are not necessarily a good reason to move. Well, maybe the family feud qualifies as a reason to split. Happened to me once.
If your productivity has tanked you need to look in a mirror before you search out a new company. Sometimes a move can give you a boost, but you need to be sure the slowdown isn't because you have a slothful work ethic. And patching up a misunderstanding is a lot easier than disrupting your business - unless maybe it's about your slothful work ethic combined with your disagreeable personality.
Now, the rich guys from New Jersey just might give your brokerage a shot in the arm. Or it could be a really awful corporate marriage. Still, I'd suggest that you give the new owners a chance before you run across town, or even across the street.
Switching brokerages is a serious step. Even if you are diligent about contacting your center of influence, you are likely to lose some business. Moving is distracting and disruptive.
And, yes. Sometimes it's really necessary and the best thing for your business.
Next: Interviewing Brokers