How To Choose A Real Estate Brokerage: Three Simple Questions

Choosing a brokerage is such an important part of your career path. Let us help you nail that interview with three simple questions. To learn more about brokerages in your state check out our Preferred Partners Program by scrolling to the bottom of our home page.

All those late evenings at the coffee shop glued to your laptop have paid off; You passed your finals and are officially a licensed agent. Now what? Here are a few things to consider when selecting who to work for.

Training is imperative. Let that be the first question you ask any prospective brokerage. A learning platform like Perry Real Estate College is going to arm you with a solid foundation. However, even with everything you learned online and in textbooks, real estate holds many interesting facets and nuances. The only real way to learn is to dive in and be knee deep in the trenches of the transactions. This uncharted territory can be intimidating as a new sales agent or broker. Ask about their training program, duration, mentoring programs and everything that their training encompasses.
Ask about the monthly fees associated with each brokerage. Chances are you’re already prepared to pay for your local MLS access and local board’s association dues. However, many brokerage’s offer incentives that are very attractive to new agents. For instance, they may offer to waive your desk fee for the first year or cover your errors and omissions insurance. Conversely, they may offer a generous commission yet make you pay for everything from the paperclips up! Next ask about what they will offer you in the way of marketing. As a new agent, you will want to have strong marketing support to promote your new business. This can be costly so a brokerage that offers free marketing plans and materials can be an asset to you.
Lastly, discuss their compensation structure. Brokerages must stay competitive with their commission splits to recruit new talent and maintain seasoned veterans in the industry. Be forthright in asking what you will be given as a new agent. 50/50? 60/40? Weigh these options objectively and consider the big picture and all the monetary parts moving then decide what is the best fit for you.

The best part about choosing a brokerage is they want new agents! We have one of the most successful pass rates in online real estate education, making brokerages confident that recruiting our students will be a desirable addition to their team. Keep in mind that the interview isn’t unilateral. It is a two-way street. You, the new agent is interviewing your potential new broker as much as they are interviewing you. Interview with several real estate agencies then compare and contract who will be the right fit for you to support you on a path of success in this ever-changing industry.