Choosing the right brokerage is imperative to your growth and your overall success. That’s because working with a brokerage is a partnership — you provide hard work, determination, and results and your brokerage provides you with the opportunity to maximize your reach, your business, and your ability to maintain relationships with clients.
How do you choose? Here are some of the most important things:
Position in the market
Reputation goes a long way in the real estate business. Whenever you partner with a brokerage you need to dig deep to see if they are well-regarded in the community. Check out reviews, the roster of current agents, or simply go out in the community to see what people are saying.
Next, investigate how they are positioned in the online market. When most people search for a home they start online and a brokerage’s position online will say a lot about their influence in the market overall.
Policy on growth
While they might not have one written in stone it should be easy to see if a brokerage is committed to your growth as an agent. Do they have the best technologies to help you service clients? Do they encourage creativity while providing resources for the best marketing?
The right brokerage will allow you to grow your business while providing a safety net of resources along the way. Details such as whether the offices are clean and professional looking can show you that they value the health and comfort of their agents.
Brokerage leads, commission, and fees
What’s your potential brokerage’s position on leads? Leads are going to drive your business. A lack of leads can severely hinder your ability to grow and become a better agent. While the vast majority of your leads will come from your own work, or your Team Lead, finding out how general leads are distributed is important.
It also helps to know how commission splits and desk fees are handled. While a virtual brokerage will typically allow for more commission and little to no desk fees, other splits can range from 50/50 to 70/30 with desk fees. Ultimately, this will affect your bottom line, so it helps to know more about the money you’ll go home with at the end of the day.
Training and coaching
The real estate market is always changing. Training and coaching are important to ensure that you’re always on the cutting edge. If you’re just starting out on your journey, training resources should be a top priority for you.
Even the best agents can benefit from coaching services and consistent training. Keeping up to date on the latest technologies, social media strategies, and marketing resources is incredibly important. It can separate the average agents from the exceptional ones.
When you choose the right brokerage you’re setting yourself on a path to becoming the best agent possible. Don’t cut your career short. Make sure you do your homework to get the best brokerage for your buck.