Once you pass the real estate licensure exam, you’ll next step is to find the real estate broker where you can put your skills to a test. Choosing the right real estate broker is very crucial for your career. You will need a broker’s help to get your first client. You need a company where you can make use of their tools and systems to jumpstart your career.
Here are a few guidelines to help you determine the best real estate broker:
You know that most brokerage companies pay their agents by commission. If you don’t sell, you will not get paid. Your goal is to earn as much as you can from your sale. Different brokers have different ways of giving out commissions. Just be sure that you are getting a bigger chunk of money out of your sale. It is better if you can find a broker that gives other incentives such as communication and gas bonus on top of your commission.
2.Check the office culture
When you are invited for an interview, try to observe what kind of company is it. The organization, cleanliness, and how the employees behave toward each other can give you a hint on the office culture. Each broker promotes a culture different from others so you really need to know what you are looking for. Is a start-up, small broker with a family-like culture appealing to you? Or do you want an established, big company where you can have more freedom to work on your own? The best way to know the culture of a broker is to talk to their current employees or attend a company function.
3.Franchise or independent brokerage
A report from the National Association of REALTORS® reveals that 57% of realtors are working for independent brokers. There are pros and cons in both franchise and independent brokerage. With franchise, you are quite assured that the firm is already stable since they have been in the business for a long time. However, they tend to be stricter over their agents. On the other hand, independent firms are usually working for a local community with small to mid-size teams. Working for independent firms means that you will have more freedom on how you will do your work.
- Teamwork and Support
You will be working alone most of the time. But there are also days when you will be assigned to work for a team to accomplish a particular goal. Observe how the company values teamwork as a strong foundation for encouraging support for each employee. The management support is very important to boost the morale of their agents to be at their best every day.