By Jesse McCarl
There are a lot of things to keep in mind when you’re looking to find a brokerage. This always happens very early in your real estate career, but can happen periodically for the rest of your life. Here are the questions you need to find the perfect real estate company for you, plus a look at franchise vs. independent brokers.
Questions to Ask
Company Vision and Culture
- What are the long term goals of the brokerage?
- What are the company’s core values?
- What is the turnover rate like?
- Is there additional training or a mentor program?
Paycheck and Benefits
- How much of the commission goes to the company?
- Do they subsidize your advertising budget?
- Is the office in a convenient and practical location for you?
- Are you supplied with any additional technology resources?
- Is the company site easy to navigate? Are their agents well represented?
- How many listings are currently active? Are they high quality?
Franchise vs. Independent Brokers
38% of agents use franchise brokerages, and 59% use an independent brokerage. The other 3% are undisclosed. Your franchise ones are the big names that people recognize such as Keller Williams, Re/Max, Sotheby’s, etc. Those areas have more budget and resources, as well as established authority and credibility. Independent brokers, however, offer more flexibility for agents and allow more input from their agents.
- Remember that brokerage offices need you more than you need them. Don’t be intimidated.
- When you meet to discuss partnering with a company, it should be a dialogue, not just an interview. Make sure you are as good a fit for them as they are for you.