When is it time to switch brokerages? If you've been with your company for a long time or have been unhappy with the ways things are going, you may be wondering what else is out there. What things should you look for in a new company and why should you really make a switch? These are questions I get from agents.
The truth is... not every agent found the right office to join to begin with. They didn't ask the right questions, take their own needs into consideration, or sufficiently shop around to see what's out there. So let's assume you have your license with a brokerage and you are "curious" for whatever reason. Here's what you need to look for:
- What kind of support will you get?
I'm not talking admin and marketing here... I'm talking coaching and training. One thing the top producers will tell you is they all have coaches. As a coach, I can tell you... yeah... they do. That's exactly why they consistently produce so strongly. Having a strong broker and/or sales manager/team leader who is there for you (non-competing with an open-door policy) is definitely a big help to your business. Make sure it's someone you feel comfortable with, someone you trust, who can direct your focus, offer lots of on-going training at every level, and will listen to your thoughts, ideas, and opinions without being overbearing or condescending.
- What is the office environment like?
Working in an office full of nasty, negative people is not going to be a boost to your business whatsoever. If you plan on working from the office, is this an environment you can thrive in? Do the other agents seem warm and friendly? Would they help you if you needed it? Does it feel like a family there or does it feel more like you're just a face in the crowd? Even if you don't plan on working out of the office, knowing that you have a helpful group of fellow agents to network with, share ideas, tips, etc... that's what you need to keep your eye out for.
- What's the bottom line?
It's not about the commission, it's about what you put in your pocket at the end of the day. it's just like you tell your sellers when they ask about your commission during the listing presentation... So add up all the expenses associated with being part of any office you're considering, and figure out what the bottom line is. You know what you need to have to be an agent so what is the office providing you with and how much commission are you getting in relation?
- Is brand really important?
In today's world where every listing is pasted all over the web, the brand is not as big a deal when talking "is it gonna get me the listing?". YOU get you the listing by how the seller feels about you. It's not as much about the brand as it used to be. (don't send me hate mail on this one... I understand some of you will get defensive on this answer) It's about how you connect with the seller, how much the seller trusts you, and how confident the seller is in you being able to sell their home. Most agents are promoting their own team brand ahead of their brokerage brand these days anyhow...
So when do you know it's time to switch companies? Anytime you feel you would be better served somewhere else. It's doesn't have to be because you had a big blow-out with your current broker or got into it with a fellow agent you found snooping through your papers. I will tell you though... a strong broker/sales manager who cares, listens, guides, and coaches is a rare and priceless commodity that deserves unswerving loyalty... SO if you have already have that, the commission split is not near as important.
If you have any other questions about brokerages/franchises/offices or ifyou've been thinking about making a switch and you're unsure and want to talk about it... give me a call. I'm happy to point you in the right direction for you personally. :)
Angela K. Simanek, Simply Consulting
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