Picking a Real Estate Brokerage: 4 Things to Consider
Choosing a real estate brokerage to join can be a daunting task, especially for new agents or those looking to make a change. With so many options available, it can be difficult to know which brokerage is the right fit for you. In this blog post, we will explore some key factors to consider when picking a real estate brokerage to join.
1. Company culture
A positive company culture can make a significant difference in your overall job satisfaction and success as an agent. Look for a brokerage that values collaboration, support, and education. Consider attending a few team meetings or events to get a feel for the company culture and see if it aligns with your values and goals. Additionally, check out their core values or mission statement. These are typically listed on a website page, but if not be sure to ask the broker!
Our core values can be found here.
2. Training + Support
Another critical factor to consider when choosing a brokerage is the training and support they offer. As a new agent, you will likely need a lot of guidance and training to get started. Make sure to inquire about the brokerage’s training program, ongoing education opportunities, and mentorship options. A good brokerage should provide a solid foundation of training to help you build your skills and support you as you grow your business.
3. The commission split
Next, we have the commission split, which can vary significantly from brokerage to brokerage, so it’s essential to understand the compensation structure before signing on. Some brokerages offer a higher commission split, but may charge additional fees for office space, marketing materials, and other services. Others may offer a lower commission split but provide more significant resources and support. Consider your budget and business goals when evaluating the commission split.
The last thing to consider is reputation. Look for a brokerage with strong brand recognition/awareness in the community and a proven record of success. Read online reviews and testimonials from current and past agents to get a better understanding of the brokerage’s reputation. Consider reaching out to agents at the brokerage to ask them about the company culture.
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