Congratulations on your license! Haven’t quite gotten it yet, check out how to become an agent and our online school of real estate.
A real estate brokerage is simply an agency or office where real estate agents work. Because you’ll likely need a brokerage to generate income, it’s a good idea to find one before completing
your pre-licensing course. We’ve broken down some things to consider when selecting a brokerage.
The type of brokerage you work with can help determine the volume of work you do, the training and mentorship you receive and the company culture you are a part of.
National Franchises like Keller Williams Realty and Re/MAX provide instant recognition, a variety of resources and national training options.
Local or Boutique-Style Brokerages provide trusted clients in their community, personalized and individual training, resources catered to you and room for growth and advancement. Sound like your speed? Contact one of our brokers to see if LAH is the right fit for you.
Virtual Brokerages have ushered in a new era of real estate brokerage that is entirely online. This provides lower desk fees and great technology resources.
Although you are your own boss, your brokerage can provide support and credibility to you as a new agent. It is important to find out who you are representing and if they will best support you.
When meeting with different brokerages, make a list of personality traits you are looking for in a company. See if the brokers you are meeting and potentially will be working closely with match up.
Continuous Training and Education are essential to becoming a successful agent. Look for a brokerage that offers opportunities for growth. Not only do you want to be an expert, you want to work and represent a group of well respected, knowledgeable agents. In-house training is even more of a bonus!
Ask each brokerage what type of in-house resources they provide. Are you solely in charge of your marketing or is there someone to help guide you? Where can you get leads as you are getting started? Is there a referral department? Is your broker available to you? These are all important questions to consider.
Before accepting an offer from a brokerage, make sure you understand their commission structure. There are a few different splits that are common.
A traditional-split means you get 50% of the commission and your brokerage gets the other half.
The high-split plan means you get a higher percentage of the commission, but these commission plans are usually accompanied by high monthly desk fees and less agent resources. Finally, the hybrid plan is a combination of the traditional and high-split. They usually offer agents a percentage at the beginning of the year which increases when agents meet certain monetary goals. When talking about commission, be sure to take into account all extra fees and expenses. While a high-split plan may seem great at first, you need to take note of all the extras.
Ready to talk to us, reach out to our brokers and set up a meeting today!