Choosing A Brokerage to work with as a real estate agent can seem overwhelming. But keeping some basic things in mind will help you make a good decision.
(Different states have different laws governing real estate licensees and brokerages. Florida, for example, requires new licensees to work under the direction of a broker for at least two years. After two years, licensees may take the steps to act as their own broker.)
- Don’t hesitate to contact a brokerage to see if they are bringing on new agents. Most will be eager to speak with you!
- To find brokerages, do a search online to see which companies seems to have the best “sales presence.”
- When you interview with brokerages, make sure you are interviewing them – not just that the brokers are interviewing you!
- Compare brokerages between costs involved versus what they are offering in return. Some brokerages do not charge any fees upfront or monthly fees. Yet, they may keep more of the commission when you do a deal. This often works well for new agents. Other brokerages charge upfront onboarding and monthly fees. With these brokerages, you’ll find yourself keeping more of each real estate commission. Which one you choose is generally connected to whether you have your own startup funds.
- Find out what benefits you are getting from the brokerages. Some brokerages let you keep most of the profit, yet offer very little training as a tradeoff. Other brokerages may take more of the profit but provide detailed training and even leads!
- Finally, talk with other agents in the office to determine if there is an environment of support to help you build success!
(Check out our Blog Category: Brokerage News for more on this topic.)
By Pamela Kemper – Instructor
Azure Tide All Florida School of Real Estate