How To Choose A Brokerage As A New Agent
As a new agent, how do I choose a brokerage?
There are so many different types of brokerages, from big franchises to small boutique brokerages. You’re going to have to do your research to find out what will work best for you.
Big franchises are more likely to provide training classes on the ins and outs of real estate.
That’s going to be pretty useful for a first time agent. Many Realtors are going to be swayed by commission splits but I guarantee that the better the split, the less that brokerage offers. If you are brand new, you’re going to be overwhelmed and there likely won’t be anyone to help you.
Brokerages want agents. If you can fog a mirror, they’ll take you so you have to really scrutinize the different options that are available to you.
Here’s what I want you to do:
Write down your goals
Think about what you need as a brand new Realtor. Think about how much you want to make. Do you know how to generate leads? Do you know how to start a database? How’s your marketing game? Consider these things. Consider what you need to learn to be successful. This is where your goals start.
Create a list of questions
Think of questions that you can ask a brokerage to get a better idea of what they provide. Of course you are going to want to know about commission splits but there are so many other benefits you can get from a brokerage. Think about training opportunities, mentorships or coaching opportunities. How much administrative support do you get? Do they help with marketing? What would the first 30, 60, 90 days look like?
Interview 3 brokerages
Once you have figured out your goals and have compiled questions to ask, go out and interview no less than three brokerages. Find the one that is going to help you succeed. Weigh the pros and cons. I can’t stress enough that a good commission split doesn’t mean crap if the brokerage doesn’t provide and support for new agents. A lower split is worth it if the brokerage provides training, coaching and mentorship!
I don’t want you to waste precious time at a brokerage that isn’t a good fit.
Do the work! Make some goals, prep questions, interview brokerages.
If you are a few years or more into real estate, tell me about your first brokerage and how you went about choosing them.
If you’re a new agent, share your goals in the comments!