How to Find the Best Real Estate Broker
You did it! All those weeks of studying have finally paid off. You passed your real estate exam and you're now the proud owner of a real estate license.
You are eager to get started selling houses but first, you have to find the best real estate broker so you can get your career started on the right foot.
Finding the Best Real Estate Broker
It will take some time and research but choosing the best real estate brokerage to work for is especially important at this stage in your career. This is when you learn the ins and outs of the business and develop your skills.
Keep reading to discover how to find the best real estate brokerage firms.
Commissions May Not Be the Most Important Thing
Although it's important to understand what percentage you will earn on each sale, it’s not the most important thing to consider.
A broker provides many other benefits that are necessary to get you started in this business. You may get a smaller commission but earn more money overall.
Because the real estate business depends on word of mouth and reputation, as a new agent, you won’t have the clients and referrals needed to get sales.
Some brokerages offer 100% commissions but you have to understand the costs and fees you will have to pay. Not all of these types of commissions are equal so do your research.
Interview with More Than One Brokerage
The objective of most interviews is for the employer to decide if you are the right person for the job. Your goal in interviewing with a brokerage is to determine if they are right for you.
There are national brokerages that you can work for such as, Re/Max or you may be considering a brokerage in your local area.
National brokerages offer in-depth, classroom training but you may have to spend more time in these classes and less time selling houses.
You may also have to do some of the grunt work, such as manning the front desk to take care of walk-ins. But many of the leads they get are based on brand recognition, which may be passed on to you.
A local brokerage has smaller offices and they focus on a specific location. The perk of working for a local agency is that you get more hands-on training. You could have a better chance of getting leads because there aren’t as many agents to compete with.
Check Their Marketing
You want to be aware of how a prospective broker is using marketing. This will help you to determine if they can attract quality clients and help you to understand some of their policies. You are also able to get a glimpse at some of the agents that are currently working there.
Check out their website, billboards, local newspaper ads and television ads. You can learn a lot from their website, which will showcase the properties they have for sale.
Find out If You Will Be an Independent Contractor or an Employee
This is especially important when tax time rolls around. If you're an employee, you will be paid a regular salary and benefits. An independent contractor will have to take care of their own taxes and will not get a regular salary or benefits.
Enter a New Era of Online Real Estate Brokerages
Many people looking for real estate now begin by searching online. Having a brick and mortar office building for a real estate business is no longer so important.
The low overhead of having a brokerage firm online means that our independent sales agents can earn more, learn more and get better support.
Finding the best real estate broker can be difficult when you don’t know what to look for. If 100% commissions, in-depth training, and no hidden fees sound good to you, join our team and enter the new era of real estate brokerages.