Congratulations! You’re about to embark on an exciting new career as a real estate agent. But like all change, it can be scary, filled with difficult decisions, starting with like what real estate brokerage you will choose. Which one will help give you the start you need to build a successful career?
Right now, the market is flooded with brokerages looking to recruit you. That’s the good news – you have options. Now the tough news: there are so many with very different value propositions that it will take some serious work to pick the one that’s right for you.
Here are four things you should consider when choosing your first real estate brokerage:
No. 1 – Don’t just jump for the bright and shiny
You’ll find that some real estate brokerages offer some enticing benefits to join, but just like everything, you should look at the fine print. The best way to do this without analyzing every word is to read reviews about the company. Both good and bad reviews will give you the inside scoop.
No. 2 – Despite what they say, it is about the money
The money matters. because it’s your hard-earned income. You’ll be working diligently, especially in your first year of real estate, to establish a good financial foundation. And so like every expense, you need to know what you’re paying for when you sign on to work for a brokerage. If you’ve done some research, you already know that different brokerages charge different fees or dues, offer up different commission structures and may even have sign-on bonuses and profit sharing. But before you sign any paperwork, make sure that you’ve done the math.
Take some time to sit down and look at your potential expenditures versus your projected income. Make sure you calculate commission splits and determine how and when fees and dues are assessed. To be confident you know what you’re getting into, you should sit down with the recruiter, manager or broker of an office and verify the math. Are you comfortable with the result? It could be one of the most critical questions in your decision-making process.
No. 3 – Look for a brokerage whose values align with yours
Values matter and most values are developed at the top and are passed down throughout the entire organization. It may not seem like one of the key factors in making your decision, but how your values align with your office and the franchise organization will make a difference in the long-term.
For example, does your office look for ways to give back to the community? Do they encourage team-building and have a positive office environment? Do they have training and mentoring programs and do they facilitate knowledge sharing between agents? Or is this even important to you? If so, make sure you know what values the company holds and if they stay true to them.
For example, check out the lively culture Realty ONE Group offers its real estate professionals — beyond the exceptional tools, technology, and services you’ll need to succeed. Make sure any brokerage you consider measures up. The values and vision of an entire organization could impact how long you stay and how happy you are while you’re there.
No. 4 – Love what you do and have fun
Selling real estate can be intensely rewarding, but it can also be a tough and emotional job. So you’re going to need a supportive team behind you.
Researchers have proven time and again that people who have fun at work are more creative, more productive and work better with others. That’s reason enough to find a brokerage that puts a high value on having fun while working. It’s this kind of environment that will get you through the roller coaster ride of being a real estate agent.
Realty ONE Group offers its real estate professionals 100% commission, a growing, and thriving brand, coaching and mentoring, a cool culture, modern offices and an opportunity to give back to the community. Visit with us and find out why so many agents are making the move and staying with Realty ONE Group.