After getting a real estate license, the first and most important thing to do is to choose the brokerage you want to join. It will be a huge opportunity for you to grow in a positive and empowering environment. Likewise, joining a brokerage will greatly impact your real estate career. However, with so many options to choose from, be sure to consider various factors and aspects to make a wise and calculated decision.
To help, we listed down a few things for you to consider before joining a brokerage!
What Are Your Career and Personal Goals?
Before you start searching for a brokerage that suits you, first define your personal and career goals as a real estate agent. Your goals can be different, but they should be supporting and building on each other.
You can ask yourself the following questions:
- How can I contribute to the success of the brokerage I want to join?
- What kind of skill or experience do I want to learn in the brokerage?
These questions will give you an idea about the business goals you want to achieve.
On the other hand, your personal goals should include the amount of commission you want to get and how quickly you want it. Once your priorities are set, you can make better decisions and surely find the best brokerage for you.
What Are Your Peers Saying About the Brokerage?
The first-hand experience of your fellow real estate agents will give you as much insight required to make a good decision. Likewise, you can read the reviews and suggestions of other professional real estate agents on authentic sites.
It will help you identify all the things you need to know before taking a pick. This includes the following:
- The kind of resources a brokerage has
- The commission it offers
- Their values
- The way it treats the agents
- How well it contributes to their learning process
- The tools it offers to real estate agents like AgentData
All these information contribute to the success or status a current brokerage has.
However, keep in mind that what seems to be the best fit for other agents might not equally work for you. Thus, you must know what you want to have or what you care about the most in a brokerage.
What’s the Environment of the Brokerage Like?
The environment of a brokerage defines both the atmosphere and the relationship that it’s going to build with its agents. Some brokerages provide an environment where you can work alone, while others prefer their agents to work in proper teams.
However, in both cases, the environment should feel welcoming and comfortable. It’s definitely your call to choose the environment that you prefer. Don’t take this lightly as it is a crucial feature that can help make your decision easier.
Where Is It Located?
The location also plays a key role in choosing a brokerage. As an agent, you will be spending most of your time in the field, but still, you might have to go to the office for one reason or another.
It will be convenient for you if a well-established brokerage is located in your area. Having an accessible location will also help you save a lot of time from traveling and getting stuck in traffic.
How Long Has the Brokerage Been in Business?
Experiences speak volumes. When you make such critical decisions that will affect your career, you must take expertise into account.
Experience doesn’t necessarily mean the number of years a brokerage has been established. It’s also important to know their success rates and how many exemplary real estate agents they’ve produced in the past.
What Kind of Action Plan Does the Brokerage Have?
A brokerage must have a proper plan of action for its real estate agents. You can invest a good amount of time in visiting the site to read their mission statements, goals, and vision, but if you don’t know anything about their action plan, you won’t be able to make the right decision.
Words of promise are nonsensical if you don’t know exactly what they’re going to “do” after taking you in.
Does the Brokerage Offer a Training Program?
As an enthusiastic learner, there are many things you need to learn during your stay in your chosen firm. This includes assembling the contract, listing the property for sale, and evaluating the property. A renowned and authentic brokerage would offer a good training program to new real estate agents.
It must also have a clear training task to guide you. Moreover, current programs should be constantly updated to keep up with the changes in the industry.
In that sense, if a brokerage is more concerned about collecting money from agents than focusing on their training, you should definitely steer clear of it.
Does the Brokerage Help in Networking?
You can’t grow in real estate without connections. A good brokerage would provide you with every opportunity for advancement. It will have a proper system to help its agents connect with more clients easily to ensure they make more sales and grow their businesses.
In a brokerage, it’s essential to know how to network to open new doors for you. This is the most effective way to expand your knowledge and learn from others.
To Sum Up
Joining a brokerage is one of the turning points in a real estate agent’s career path. The more aspects you take into account while choosing a brokerage, the more it will help you make a calculated decision you won’t regret!