What To Consider When Picking A Brokerage

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Once you finish getting your real estate license, you have to worry about finding the right broker. As a new real estate agent, this is almost as important as the decision to start a real estate career. Whatever brokerage you opt for can make or break your real estate career. So, what exactly should you consider when picking a brokerage?

We spoke with some seasoned real estate experts, asking them what agents should consider before committing to any brokerage.  

Here’s what they had to say:

Coaching and Trainingandy

Andy Griesinger, the top agent at Keller Williams South Park, shares his thoughts about looking beyond the split to consider the core benefits of working with a brokerage.

“The biggest thing to consider when picking a brokerage is not necessarily the splits; it’s the coaching, training, and opportunities that you will get. Too many new agents focus on the split, but if they never have the chance to sell anything, the split doesn’t matter,” said Griesinger.

“The thing that drew me to Keller Williams was not only the coaching and training but the culture. It’s amazing to think how much can be affected in your business simply from the culture of your office and the agents you’re surrounding yourself with every day,” he said.   

Dmitrii Parilov_dxFeedThe IT Components and Online Presence of the Brokerage

Dmitrii Parilov, the managing director at dxFeed, reveals how the brokerage’s presence on new media and its IT components can be essential for agents.

“In addition to such well-known and obvious parameters as commissions, brokerage reputation, and available financial markets, it doesn’t hurt to look at its IT components. What kind of platform do they have? Is it user-friendly? What are people saying about this brokerage in the professional community and on blogs, LinkedIn, etc.?”

“Are they recognized with awards? It is equally essential to pay attention to their market data partners. Accuracy and reliability of data, the absence of interruptions and delays are critical components for your successful investment operations,” Parilov said.

Regulation and Personal Connectionandrew taylor

Andrew Taylor, Director of Net Lawman, talks about the importance of brokerage regulation and connecting on a personal level with people at the brokerage.

“It can be tempting to choose the highest hit on your google search, but really do your research. One of the first things you should ensure is that the person you choose is regulated. You need to ask a few questions, ensuring that your data is secure, and you should check reviews wherever you can find them,” said Taylor.  

“You then need to see if you connect on a personal level, that you feel comfortable with the broker, and that you feel like they understand you,” he said.    

john-lindenReach Out to Previous Agents in the Brokerage

John Linden, an interior designer who works closely with real estate agents, suggests doing some digging to unearth how the brokerage related to previous agents.  

“Consult with their previous members on how much support they actually offer. Do this before joining them. Most brokerages will promise you the utmost support possible in terms of mentorship, only for them to let you down after signing you.”

“You can avoid this career-making or breaking point by reaching out to their former employees and asking about their track record on this matter,” said Linden.

Track Record of the Brokerage in the Local CommunityPeter Joudaki

Peter Joudaki, a real estate agent with Angell Hasman & Associates, emphasized reviewing the brokerage’s track record in the local community before making up your mind.

“When choosing a brokerage, it’s important to find one that specializes in the area or community you plan to purchase in. It doesn’t matter whether they are a name brand or a smaller boutique firm; the most important thing to look for is their track record in that particular area.”

“For example, our brokerage, Angell Hasman & Associates, has 60 Agents, but we’re arguably the top producers in West Vancouver. The market shifts quickly, and it’s important to be working with a brokerage that has it’s thumb on the pulse of the market; otherwise, you could end up overpaying or underselling. Frankly speaking, that’s what buyers and sellers care about the most,” said Joudaki.