Selecting what brokerage to work for can be a bit overwhelming. Here are a few things to keep in mind when interviewing brokerages, and yes I said interviewing brokerages as in you interviewing them! Almost any brokerage will be happy to take your money, so you want to find the brokerage that will best suit your needs.
Questions you may want to ask:
- What type of training is offered?
- What commission splits/plans do they offer and what do they include?
- Is there a cap after reaching a certain amount that you get 100% of the commission?
- Is there an area you can work in the office? Do you have to pay more for it?
- Is there an area with a computer that you can use when you bring clients to the office?
- Do they provide a website for you?
- Do they pay for any marketing?
- If you need help after hours, is there someone you can call for help?
- Does the office provide any sort of leads? Do you have to pay a referral fee for these leads?
Don’t just think about commission splits alone because other expenses can add up, so if one split is higher but includes more, you need to keep that in mind so you are comparing apples to apples.
A question I get a lot from new agents is “Do you think it is important to go with a well known brokerage?” This one is tough, in the long run it probably doesn’t make a huge difference, but for me starting out, I felt having the name of a larger brokerage behind me was important, and I was also very impressed with the training programs provided which really helped seal the deal. I recommend talking to other REALTORS® within the brokerage, find out what they like and what they don’t. You can usually find someone to give you an unbiased opinion!
One last thing to consider, do you like the facility? Do you think your clients would be impressed with the office? You will likely be bringing some there! Good luck and Happy Selling!
– Kris Gear, OREA YPN Committee Member & Guest Blogger