One of the toughest decisions you’ll get to make as a new real estate agent is who to affiliate your license with. In other words, take a great deal of care in choosing a real estate broker.
Here are some very important items to take in to consideration;
- Are they company focused or agent focused?
- What is their new agent training program and do they have proof of success?
- The state says that the broker owns all listings. Fine. What is the broker’s policy if you choose to leave? Do you get to take the listings with you or does the broker keep the listings?
- Same with your database. Does your database of current and future clients belong to you or the broker? Or, does the broker have rights to your database after you leave?
- What is the culture of the brokerage? All for one? Or mind-your-own-business?
- Do the agents have a say in how the office is run?
- Who do you have access to that first year?
- What is the market share of the brokerage? (Do you want to be part of a small office or a big office? – There are trade-offs for both.)
The list above is not all encompassing. But it is a great place to start. Seek your own answers. Research. Ask to speak to some of the broker’s agents. Ask to see the office’s trends. Are they growing, staying the same or slipping back?
Here in Kansas City we have a lot of great brokerages to choose from. Some are very limited service, some full service and everything in between. Some have been around decades and others are startups. Some small, very small. Some large, very large.
You really have a Good, Better, Best decision to make, in choosing your broker. The income difference between Good and Best, can be significant. So research, make a decision and then make the decision right.