Choosing A Brokerage

Whether you are pre-licensed or post, the next big decision is where to hang your license. Let’s talk really quickly about why it matters.

Many of us have that one ex that we got tangled up with in high school. They were a step outside of how we identify with ourselves because this new-date bada$$ spent multiple hours in the smoke pit, skipped class, and had a wardrobe that paid too much homage to the cast of Grease.

By aligning our reputations with those people, the school’s view of us often changed. They formed a new assumption: You must be a deadbeat, too, even though you were still slamming honors awards up like it was going out of style.

Who you surround yourself with is paramount to the image of your new real estate business. The same goes for choosing which brand of brokerage to align yourself with.

Here are a few things to think about, prioritize and decide on before you get into bed with another brand.

Fees. Obviously, you’re going to want to know how much money they will charge you. Before you say yes, ask what those fees give back to you. Do they have an edgy, innovative marketing platform to help with your listings? Is there a cap? What happens if you don’t make the minimum? I really like this article for specific financial questions to ask if you want more meat to chew on in this area.
Do they offer a platform for your database? If not, that’s an extra fee you need to calculate along with your RMLS fees, PMAR, etc.
Do they offer a new agent program? What is it designed to do? Sometimes folks get lured into these programs, but the teachings aren’t exactly up to snuff. You can call a boardroom full of new agents a “new agent program” and learn what you could have learned on a random blog like this one.
How does the company give back and can you participate? Being active in your community is essential to your brand image. Does the brokerage spend its dollars in your community and help you leverage your business at the same time? If not, does it make sense to align your brand with theirs?
What’s in the future? Ask about management. Who’s doing what and how do they intend to grow? Ask them what their focus is as a company. If it’s just to pack in as many people with a heartbeat so they can garner fees, you could assume they are building a brand of quantity, not quality.
Who will be your direct managing broker? This person will be huge in your life. They will be helping you navigate tough deals, teach you perspective, negotiating, all of it. Make sure you connect with this person because you’ll work closely together.

Choosing your future brokerage is an undertaking. The biggest question is, do their values align with yours? Your clients will ask you why you chose that particular company. I am asked all the time. The answer should be a good one.

As an aside, if your wardrobe is still chock full of pleather, I want to apologize in advance for this post.

Let me know your thoughts about choosing a brokerage. If you’re stuck, let’s work as a community to get you unstuck. Leave me a comment below.

Until then, chin up, keep your feet moving … and burn the white flag.

Shelley ZavitzNovember 25, 2019Comment