Choosing a brokerage to hold your license and to represent is very important. You want a company that aligns with your mindset and core values. Will you be an independent agent or are you looking for a Team?
Further, what will you be getting in return for hanging your license with them? Start here when you do your research! There are a number of other things you should consider above and beyond splits…
What sort of office would you be working out of? Are the interior and exterior well taken care of? Remember, you may be meeting clients there and you want the office to be inviting, professional and have the amenities you need to transact with your clients. If it is run down or doesn’t offer things like internet, copier, meeting rooms, etc… make note of it! Physical appearance of the outside and inside is something your clients will judge you on.
Does the brokerage have an up to date and welcoming website? Does it include pertinent information for would-be clients like location, informative nuggets about buying and selling, agent info, etc… ?
In today’s word, people start online when they are researching almost any business. Do they have social media pages/accounts? How to they present themselves to the world? After all, if you join this brokerage, that website and online presence will reflect on you. Be sure it is displayed in a manner you don’t mind associating yourself and your business with.
Is there a Support Staff?
At this brokerage, what type of support, if any, is there for the agents? Do they have a transaction coordinator? listing manager? lead agent? Another very important question is if they do have a support staff, is there an additional fee to use them?
New agents need lots of support as they wade through the ins and outs of the industry and serving their clients. What sort of back-up will you have at this brokerage?
What sort of Training do they Offer New Agents?
New agents don’t know what they don’t know. Does this brokerage offer a training program? If so, what does it consist of? Or, do they sign you up and throw your in the deep end and say “sink or swim?”
This is important! As a new agent, you should be a sponge and absorb all the knowledge you can about transacting real estate as well as how the team or office runs. To serve your clients at the highest level, you need to be trained!
Remember, in addition to making sure their core values align with yours, you need to verify what’s offered to agents over and above commission splits. Splits is a very small part of the overall value a brokerage can offer. You can have great splits but zero training, zero support, zero exposure or bad office conditions and those items can cost you so much of your great split that you are actually losing.
Think about it. If you aren’t set up for success, 80% or 90% of $0 in sales means $0 in commissions.