Congratulations! You got your real estate license. Now where do you hang it?
The easy thing to do – join the same brokerage as your friends. Kidding. Don’t do that. You should join a brokerage that is best for you and your goals.
When I was deciding where I wanted to hang my license I attended a real estate career fair. It’s kind of 2000-era of me to admit that but I knew I didn’t want to go with any company – or just follow my friends to the same brokerages. So I walked around a career fair and stopped at booths that stood out.
Since I knew I wanted an esteemed and recognized brokerage, I only focussed on luxury real estate companies. As I walked around I paid attention to how each company represented itself. I noticed their signage, how their marketing materials felt *luxe vs basic*, and how their representative was – engaging or cold. Since the company, brand, and people were who I’d be associated with, all the small details mattered. After narrowing down to my top choices I scheduled meetings with three different brokers.
Here are my must-do suggestions before you determine which company you’ll call home.
Meet With Multiple Brokerages
- Schedule meetings with multiple brokerages. I’d suggest three to have a good baseline of comparison.
- When touring the office – do the people and space match your vibe? It might sound insignificant but this is where you’ll meet clients and these are the people you’ll interact with regularly.
- Come prepared with questions you’d like to ask the broker. Remember – you’re interviewing them as much as they’re getting to know you.
Questions To Ask The Broker
- Do they have a training or mentorship program? If so – what’s included in the program?
- Do they offer complimentary continued education? If so – how often is this available and in what format? (in-person, online, or both)
- Do they have monthly or annual fees? If so, how much are they and what do the fees include? (For example: E&O insurance, marketing materials, website creation, listing sign install / removal, printing, desk fees, one-on-one coaching)
- Do they provide you with business cards or is this something you’re responsible for out of pocket?
- Do they offer creative marketing strategies and PR? If so – are they included or are they an additional fee?
- Do they build you a personal website?
- Do they have a 24 hour broker hotline?
- What are their commission splits and are they negotiable? – Hot Tip: They are. This is where you can practice your negotiating skills.
The Takeaway
It might seem like a lot of questions to ask or consider but choosing the right brokerage is very important. It sets the tone for your future – so be choosey.
You might like: Open House Safety & Client Vetting or Should You Join a Team As a New Agent?
