New Real Estate Agent Guide – Finding the Right Brokerage for You
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There are over 90,000 real estate brokerages in the United States! Remember, you are not just picking a brokerage to work at and represent, you are establishing an important relationship that must benefit both parties to be effective.
Here are some questions and tips to help you find the right fit.
What’s Your Style?
First, think about your own personal style. How do you work best? On a team or as an independent spirit? Do you like structure and processes? Or do you prefer a more flexible approach?
What Type of Clients Do You Want to Serve?
Consider the type of client you want to work with such as: First time buyers, veterans, luxury homes, vacation homes, empty nesters, multi-family units, commercial, new construction, or condos.
Choosing an Agency
There are three types of brokerage agencies, each with their own pros and cons.
National Franchise Brokerage
- Pros – Well established, name recognition, may have many resources (office and marketing support).
- Cons – May not have as much flexibility. Competition for leads may be more intense.
- Pros – May be more opportunity for agent to grow. Less competition for leads. Strong relationships in community.
- Cons – May not have as many in-house resources. Smaller training and marketing budgets.
- Pros – Larger commissions. More flexibility.
- Cons – No in-person collaborations. No access to office services and support.
What Type of Training Do You Need?
The market is always changing – now more than ever – so you need a way to stay up to date with trends. Training is a critical part of your continued success. Find out what types of training the brokerage offers. Some pay for additional training as part of the support offered while you may have to pay on your own for other options.
In-House Real Estate Training
- What does the real estate training include? If you’re joining a large brokerage it might be classes and resources from within the company. If you join a boutique brokerage, this might include training from a senior agent or the team lead. Find out also if there is a set time frame or if training is ongoing.
- Is there an opportunity to learn from more experienced agents within the brokerage?
- Does the brokerage support outside training and coaching with a company such as Buffini and Company?
- What type of technology does the brokerage offer? How much of it will you be responsible for, as far as cost and maintenance goes?
- Will someone help with setting up email accounts, social media and website profiles?
- How is their website set up? Is it easy for you to update and for potential clients to find you?
- How will you build your database? Will you be on your own or will they assist you? Do they have a real estate CRM? What do they offer for training and support on it?
- What do they offer for real estate marketing?
- Does your brokerage provide guidance for print and social media marketing? Will your agency provide content, printing and cover mailing costs?
- What other kinds of online marketing do they have? Are you allowed to have your own email marketing and/or social media pages or must they be part of the company’s?
- What is the onboarding process for a new agent?
- Do they have someone on the team that will help you get set up with insurance paperwork?
- Are there scheduled “check-ins” to see how you are doing or need to have questions answered?
Is there a staff member who will provide administrative assistance such as phone backup and purchasing office supplies?
Be sure to take your time and carefully review the information above when considering a brokerage. Talk to other agents, too, to get a sense of how things operate where they are. If you make an informed decision, you will set yourself up for success in your new profession!