If you are new to the real estate industry, or considering becoming a real estate agent, you have come to the right place. When starting your real estate career, choosing the right real estate company is a critical ingredient to your success. Choosing a brokerage that aligns with your needs, personality, goals, and values is essential. Choose Wisely! On this page you can review information regarding making your first year in real estate a successful one.
How To Choose A Company When Starting A Real Estate Career
Things You Should Ask to See.
- Is there a written onboarding plan? An onboarding plan is essential in getting you started. It insures you are up and running quickly, and provides you with an understanding of how the firm operates, what tool and systems you can employ, and the policies and procedures you will need to understand in order to be the expert in the eyes of those you seek to represent. Having a written onboarding plan also assures you that time sensitive tasks are being accomplished on time.
- Is there a written Training Plan? Ask to see what training you can expect to receive in the first 2-months. Is the training online, live in-person, webinar, personalized. Can I meet the trainer? Is there both fundimental and advanced agent training?
- Are there agent testimonials? How do agents within the company saying about their experience? Ask if you can speak with a few of them.
- Is there a Company Value Proposition? If there is conviction and pride for the proposition, it will be written.
- Is there a Customer Relationship Management System (CRM)?
- Is there a Company Agent Portal? While all the real estate nation brands provide portals look for a company where the broker provides a company portal which has useful local information to help you grow and acquire the local information when you need it. Local portals improve communication, organization and efficiency within a brokerage firm, all three of which benefit the real estate agent.
- Is a personal Agent Website provided? Having an agent website can set you apart from other agents, expecially if your are new. Potential clinets will google your name and you need to display that you are talented, knowledgeable, capable, and established online. Ask about ease and support in creating your website - content is everything. Ask to see an example.
- Are there impressive presentation development tools? Most newer agents need to rely on visual presentations, but digital and printed. Does the brokerage provide these, what exactly do they provide, and what is the cost to you.
Factors to Consider in Choosing A Company
- Company and Office Culture: The atmosphere of the office is an important consideration. Will you fit in? WIll you be welcomed by other agents? Is integrity valued?
- Support: Most of the time, A real estate agent works independently, but you need a supportive environment when unforseen issues arise or if you want to develop a business plan to take your business to the a higher level. Is your manager or coach competent & caring?
- Technology and Tools:
- Reputation:
- Industry Involvement: Company leaders who are involved in the real estate industry bring an extra-special value to their agents. They have a pipleline to what is changing and input in making decisions that impact the industry. They are better in-the-know which translates to a real benefit to the agents they work with.
- Agent Compensation Package: Often called the split. You should focus on what your net split is rather than the gross split. Having the highest split has little value if you don't sell much. Balance the split with the training, support and free of cost tools you will receive aligns with your goals.
- Costs and Fees: Are there any fees I have to pay. What is the amount of the monthly or annual fee/fees. What are they for? Is there any fee or cost for training or mentoring?
- Errors & Ommissions Insurance: What is the E&O coverage and what is the cost to me. Some brokers charge an annual fee, which is ofter 100's of dollars, while others may charge a fee on each closed transaction.
- Lockboxes: Are lockboxes provided free of charge and are they electronic?
- Startup Costs: What is the complete cost to get started? This should include REALTOR® Associations and MLS fees.
- Signs: Both For Sale yard sigs and Open House signs. Are they provided by the company or agent?
- Ask about agent turn over. How many agents have left the office after 18 months. This will help you evaluate the effectiveness of the agent development program they offer.
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