5 factors to consider, before signing with a
broker
“Am I making the right choice?” a persistent question that
concerns agents before signing-up with a broker most of the time. Whilst those
who have been in the business have their experience to rely on, fresh
professionals have a difficult choice to make. It is an important choice that
could flourish or stagnate your realtor career
Here are 5 factors you should consider that will help you
make an informed and better decision.
Market Credibility;
The best way to find and receive feedback is to speak to
those already in the profession. Family and friends could help you connect with
experienced agents in the community if you are aware of none. You could hope
and expect for an honest opinion from expert hands. Find out how the broker has
contributed to the overall growth of the agent, be it monetarily or skills
enhancement. Reasons he/she has chosen to continue or quit with a broker as
well as what changes he would like to see in the organization that would give
further momentum to realtor career.
Social media or mass media as I would like to call it is
another source of information gathering available at our fingertips. Browse
thoroughly through discussion forums, rating and review sites and social media
platforms of the company to get a broad view. Whilst some social platforms can
be directly or indirectly influenced by companies, exploring beyond the first
page of any search engine, portal or platform should help paint the larger
picture.
Support
Whilst all companies have proprietary technology and
verticalised support teams, factors that distinguish them are agent centric and
customer driven attitude. Non availability of staff during the closing of that
crucial escrow, access to senior management for guidance during a short sale,
in-house expertise across domains that help centralize operations for you and
increase efficiency are some of the things that matter and should be researched
well before joining.
Training
Periodic, industry oriented training modules would help in
professional growth in realtor career. Whilst most companies make promises of training its
important these promises are met consistently. For those new to the profession
adequate training would help build confidence and firm your footing in the
industry.
Your Revenue – Your Costs = Your Income
Simple maths and important one at that, 100% commission
splits are common now-a-days, it’s the hidden costs you should find out and worry
about. Desk fees, monthly membership fees, franchisee fees, workstation fee and
more such fees would inflate costs, dig deeper into your revenue and shrink
your take-home income. Also, the ability of a broker to generate and provide
good quality leads consistently would increase the probability of opportunities
for you to continue with a healthy income.
Lastly, Build yourself as a brand
A recent NAR study shows that only 4% of real estate buyers
and sellers think that a brokerage brand is an important factor for a
successful transaction. A company that supports you by providing you the
required tools and enhancing your knowledge and skill sets would help you build
a brand of yourself and thereby multiply your realtor career. Innovation,
though an overused word, is something that sets apart people and firms who make
it a cornerstone of their existence. An innovative and professional driven
company would help you become the Real Estate professional you aspire to become.
