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How to Rate a Brokerage?

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Thameen | 27 Apr 2015, 10:48 AM Agree 0
I am with a brokerage, where the owners are only concerned filling up the brokerage with abundance of agents but no training, no information session, no support even if you ask, rather the front desk efficiency got slow down due to over pressure on the front desk personals.

If I want to switch the brokerage, I don't want to end up in the same pit again. It's not that easy to change the brokerage.

So, how rate a brokerage, before I make a decision?

Please Advise.
  • L Wald | 30 Apr 2015, 11:18 AM Agree 1
    Hi Thameen...your concern is valid and one that is quite often mirrored across the industry. The "model" of a successful real estate Brokerage differs from owner to owner. Is it simply "bodies in the Brokerage" or a Brokerage who thrives on creating and growing a successful Business by ensuring they are developing and delivering training, systems and tools that are relevant to your marketplace?

    They both exist.

    Interview various Brokerages with the following questions in mind;

    * Do they provide relevant and ongoing training (ask to see a copy of their Training Manual and Schedule)!!
    * Does the Manager offer "accountability" sessions for those who want them...these sessions are designed to ensure you are on track to reach your goals.
    * What systems does the Brokerage offer to ensure you are getting your fair share of leads (ask to see these systems and have them explain how they work)

    At the end of the day, a Brokerage who offers, at a minimum, all of the above, is your Partner - but you have to Partner with them by doing everything they teach and utilizing all of the Tools and Systems they have offered you.

    I have been Coaching and Training more many years and know, for a fact, that those who rise to the occasion and do what they are taught will have success!

    Another point....there is truth in "you get what you pay for". A Brokerage who does not ask for an investment (whether it's a monthly fee or a form of split) has nothing to give you in return (return on investment). Think like a business person...after all you want to be one!

    As far as the front desk....in a spring market many Brokerages experience an increase in calls and appointments. It's the nature of the beast. However, a Brokerage should be able to "position" their support staff to be able to handle this extra influx of calls by either having another support staff available or having a "call hunt" system where the overflow calls will "hunt" out another support person (perhaps someone assigned to broker load or type offers) to take those calls.
  • Thameen | 30 Apr 2015, 11:40 AM Agree 0
    Thanks for the advice, I appreciate it. When there is an authority to issue the brokerage license why there is no authority to rate brokerages? That will make all the brokerages into a thrust to perform towards the best. Like the way the brokerages award the agents, let the Brokerage licensing authorities rate the brokerages as well. There should be a set standard to operate. The renewal of brokerage license should have a report card to follow.

    Only then the quality will prevail. Or else whomever got the Broker license, they want to start a brokerage. Their concern is money oriented but not service oriented. These are the ones spoil the reputation of the Real Estate Profession.
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