What is the first step you need to take in order to have a successful career in real estate? Well, you need to first make a smart business decision. The real estate brokerage you choose will have everything to do with how good of a licensed real estate salesperson you end up being. Yes, real estate agents technically work for themselves; but they can’t work independently. A negative or positive effect on your career can be the result of picking the wrong or the right real estate brokerage with which to be associated.
The constant recruitment of agents by most real estate companies is relatively common. But the right company is going to differ from others in their philosophy, operation, and structure. As an up-and-coming real estate agent, it is important that you find a brokerage that is a good fit.
Have you selected your very first real estate brokerage yet? Are you looking for a new real estate brokerage? To help you plan ahead and weigh out the cons and pros of real estate brokerages, here are some suggestions, factors to consider, and important components.
Interview with the Brokerage
The following are questions that should be asked when interviewing with a real estate brokerage:
- What is the market share of the office?
- Are there marketing resources and technology support?
- If employed by the brokerage, what would your obligations be?
- What is the benefit package and the commission split?
- For their agents, is administrative or clerical support provided/offered?
- Are they MLS (multiple listing service) members?
- For new agents, is there a training plan in place?
- Would you be working as an employee or as an independent contractor, as a real estate salesperson?
- What are their goals and what kind of agents are they looking for?
How Can I Narrow Down My Search?
When searching for a real estate brokerage, it is possible to narrow down your search by asking the following questions and/or doing a little research on the following:
- Do they serve the area in which you would like to work and is it a large market?
- How many real estate agents do they currently employ?
- Do they effectively promote their agents, the office, and properties?
- On Internet sites and in the local papers, how is the quantity and the quality of their ads?
- Is there a certain area of real estate in which this brokerage specializes?
- In the local area, is this company well-established?
- As a real estate brokerage, nationally and/or locally, what is the company’s reputation?
Scout Out Your Potential Area
You likely have an idea of what area you want to work in. Or you certainly should. Here are a number of factors to consider when scouting out the area in which you feel you would prefer to work:
- If the brokerage has an office, do a quick drive-by. Does it have an attractive exterior, ample parking, and is the location convenient?
- In order to check out opinions pertaining to the local offices, talk to agents that are currently working for different brokerages.
- Review some of the printed materials at several of the local real estate brokerages.
- Pretend that you are from out of town and check out the local area.
Check Out eRealty Advisors
One real estate brokerage that has made a positive impact in the New York area is eRealty Advisors. We have a full understanding of the value of technology in today’s real estate market, and we are pro-agent. That’s why we are at the forefront of our industry. At eRealty Advisors Inc., we keep it simple. There are no desk fees, franchise fees, or hidden fees. You keep what you make with our 100% commission model. We can help you earn more by showing you that when it comes to your earning potential, the sky’s the limit. If you are wondering what it would be like to work for a 100% commission virtual broker, contact us or click here for a brief preview.