Switching brokerages? Use your head, not your heart

Why agents need to stop and think pragmatically before making a change
  • Before changing firms, agents should consider the culture, leadership and resources of any brokerage they are looking to join.

Switching brokerages is a fairly common practice in the real estate industry, but the reasons agents make the move can vary widely. Often, it’s in search of a better split. Or sometimes just a "better fit.” Regardless of the reason, agents are on the move -- perhaps now more than ever. According to the National Association of Realtors (NAR) 2016 Member Profile, the median tenure for Realtors with their current company decreased from five years to three years, after being at seven years in 2013. That means the average real estate agent may switch offices as often as three times during a 10-year span. According to NAR, 86 percent of its members are independent contractors with their companies, making all that moving relatively easy to do. Although change can be a good thing, there is such a thing as too much change. Before you take the plunge and make a move, consider the source of your motivation. Are you feeling underappreciated? Are another company’s recruitment e...