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Are you looking to start a career in real estate and trying to figure out which brokerage to work for. It can feel overwhelming at first – I get it, I’ve been there. So here are a few things to think about:
First off, let’s talk about commission splits. Different brokerages offer different percentages of the commission you’ll earn from each sale. Some may offer a higher split meaning you keep more of your money, while others offer a lower split but more training and support. You’ll want to make sure you understand the commission splits, what all it includes, and how they fit with your goals.
Next, training and support is super important, especially as a new agent. You’ll need a lot of guidance as you learn the ropes – the learning curve is steep, and really you will never stop learning. Look for a brokerage that offers great training programs and ongoing support, like mentoring, weekly meetings, and access to marketing resources. This is part of the reason why I was attracted to exp realty – they offer a ton of virtual courses, so it’s easy to do on your own time – but not only that, the courses are taught by top agents from around the world, so you really gain new perspectives. It’s also really easy to access your brokers, and extra support through all the tech we have like Workplace and EXP World, which is our virtual office. You can find so much help in the world, even things like help with your website or accounting.
A brokerage’s reputation is also important – I don’t think this is the most important, because ultimately it all comes down to you and how you represent yourself. But you’ll want to find one with a strong reputation in your market and among other agents and industry professionals.
Technology is another factor to consider. This goes back to my training point, like EXP World for us. You’ll want a brokerage that invests in the latest technology to help you manage your listings and communicate with clients, and grow your business.
Office location and culture are important too. Consider the location of the brokerage’s office and whether it’s convenient for you. Also, take a look at the culture of the brokerage and see if it aligns with your values and personality. For me when I was choosing my brokerage, I loved the idea of having a virtual office that I could access from everywhere. As a mom and a realtor, sometimes I’m short on time, and the last thing I want to be doing is commuting to an office for no reason.
Finally, a brokerage with a wide network of agents can provide you with more opportunities to learn from more experienced agents and make more connections in the industry. We are lucky at exp, we have access to Workplace, which is like Facebook but for our brokerage. There are tons of referral groups – it’s easy to access anyone in a matter of seconds through workplace.
Remember, the right brokerage for you will depend on your individual goals and needs. Take the time to research different options and talk to different agents at each brokerage to get a sense of what it’s like to work there. And don’t stress, if you find that it’s not the right fit for you, you can always change brokerages – or maybe your goals change, and something else will fit with you better – you can always move.
So there you have it, some key things to keep in mind when choosing a real estate brokerage to work for. Good luck on your search!