Have you ever wondered how every single real estate brokerage can claim they are #1?
Simple answer: misleading statistics. If you want to be #1 at anything, call a statistician and you shall be #1.
However, what is most surprising to me as a managing broker are the offices that use this as a main recruiting method.
In my opinion those brokerages need to focus more on making every agent in their office #1, and less on the aggregate production of the other 500 agents in the office. Because let's face facts, the overall production of the other agents in the office is putting $0 more in the agent's pockets, but sure is putting a lot in the brokerage's pocket.
Yes, I agree it does feel good to be part of a reputable and recognized organization and I believe in name brand recognition, that is why I chose to open the RE/MAX Prestige real estate brokerage in Anaheim Hills.
My advice to agents who are starting in the business, looking for a career change, or just not sure what to look for:
- Determine what type of agent you are or want to be (full time, part time, none of the time, etc). This is important because the business model of the brokerage must be aligned with your career type.
- Be specific in interviews. Find out exactly what the brokerage will do for your individual success.
- Know your numbers. Too often agents have no idea how much money they made, spent, or want to make. Most agents lose thousands of dollars per year because they don't take the time to know the numbers.
- Find a brokerage that cares. This business is relational, so find a brokerage you can identify with.