How to find the ideal brokerage

by Joe Rosengarten on 13 Sep 2018

In today’s real estate market, finding a real estate brokerage that suits a Realtor’s own style of work and personality is more important than ever.

Rather than simply taking a role at the first brokerage that shows an interest, real estate sales representatives should be interviewing at multiple brokerages within the area where they either live or want to specialize. Most Realtors are concerned about fees and commission splits when they first get started, but they should be focusing on the mentorship and support available.”

“At Forest Hill we encourage Realtors to take advantage of our coaching programs, get acquainted with the business and start selling as soon as possible,” says Rebecca Himelfarb, Head of Recruitment at Forest Hill Real Estate. “It’s difficult to know whether a company is offering value for their fees without getting your feet wet, taking the plunge and making some deals. As well, many companies have a commission scale so that Realtors can be rewarded for meeting sale’s thresholds.”

Realtors should consider whether there are opportunities to do open houses for other Realtors, shadow seasoned colleagues or generate leads either online or from within the brokerage. Does the office have sales meetings? Are there opportunities to meet with colleagues and collaborate? These are questions a Realtor should have definitive answers to before they commit to any brokerage.

“Individuals need to carefully consider their own personal objectives and create a checklist of what they consider to be a good fit, then review them with their potential manager to ensure that they are suitably aligned,” Himelfarb says.

Himelfarb encourages Realtors to ask the brokerage about their IT department and how and where listings will be promoted and marketed.

“Does the company have professional listing presentation kits and materials available to the Realtors?” she says. “What is the brokerage’s vision for the future?  Are they planning on an expansion or downsizing?  Where does the manager/owner see the company going in the future?”

“New Realtors should naturally consider fees and commission splits, but not without asking what is included for those fees such as marketing materials, advertising, photocopying, access to computers, mentorship, coaching and in office support.”

Download this industry white paper to find out more about identifying the right brokerage for you.

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