It’s easy to think that you’ll be okay at any broker or brokerage firm.
You’re so excited to start your real estate career that you might be willing to go with the first broker to offer you a position on their team.
But if you want your real estate career to start off on the right foot, you’ll need to find the right broker.
Not all brokers are created equal.
Some may be very mentorship-focused, taking pride in helping new agents start their new career.
Others may not be interested in nurturing a new recruit at all, leaving you to fend for yourself until you learn on your own.
Though each style may fit some agents and not others, you need to articulate to yourself what exactly you’re looking for in a broker so you’ll be more ready to disqualify the ones who don’t fit your needs.
Consider these 5 things when looking for a broker.
1. Are they making deals?
Before you choose a brokerage, try to find out how business is going. Talk to other agents in the brokerage.
Are they making sales?
Could you see any of them as mentors?
You may be doing a lot of work on your own as an agent, but your brokerage is meant to be a support system.
If you don’t see yourself fitting in with the culture of the office, then you may want to keep looking.
2. What’s their reputation?
Like any other business that operates on word of mouth—like dentists, lawyers, and doctors—a brokerage firm will have a reputation that they need to cultivate and protect.
Snoop around online to see what other people are saying about the brokerage. Find their negative reviews on Google, see if they have any issues on the Better Business Bureau—if any red flags stick out, trust your gut.
But remember that some online complaints are anomalies and may have more to do with the complainer than the company.
3. Go with your instincts
Disqualifying a broker may be as simple as not getting the right vibe from the people you meet. Trust this feeling. You are under no obligation to stick it out with the first brokerage you find and keep the following in mind:
You are the one interviewing the brokerages for a good fit, not the other way around.
4. Location, location, location
Not all brokerages deal in selling the same kind of properties.
If, for example, the prospective brokerage deals a lot in expensive waterside properties, you may get some big commission checks. However, the opportunities to sell such homes may be few and far between.
And those luxury properties may not go to the “runt of the litter” like you—the newbie at the brokerage.
Consider whether or not the brokerage is in a luxury area and if selling more expensive homes is the particular kind of challenge you’re looking for, rather than selling more homes at a lower price.
5. Listen through the grapevine
Asking other agents about a broker is one of the best ways to get the inside scoop on a brokerage and how they do business.
Does the brokerage provide good leads?
What are their fees like?
How do they split their sales between agents?
The best fit for the people you talk to may not be the best fit for you.
Brokerages that provide offices, advertising and excellent training may take higher fees.
If you’re an agent who prefers to do more on your own, you may want a more hands off brokerage. It’s all up to your particular disposition as an agent.
If you’re looking to get your Florida broker or agent license (or if you just need continuing education), then visit our website, Larsoned.com, or give us a call at 239-344-7510.
About Larson Educational Services:
Utilizing 40 years of real estate training and professional education experience, Florida real estate school Larson Educational Services is the premier provider of Florida real estate licensing, exam preparation, post-licensing, CAM licensing, mortgage loan originator licensing, and continuing education in Southwest Florida. Classes are available in Fort Myers, Naples, Sarasota, and online. We are an approved Florida Real Estate School (License #ZH1002299), Florida CAM School (License #PRE31), Florida Insurance School (License # 370501) and NMLS Approved Course Provider.
Larson Educational Services
13040 Livingston Rd. #12
Naples, FL 34105