Choosing the right real estate brokerage is a big step in your career. It’s like joining a sports team. You want a team that helps you play your best, develop your skills, and win.
Your brokerage is your team. The better the fit, the more you’ll grow and succeed.
Find out how to pick the best brokerage for you. It’s a move that could change your career for the better.
What is a Real Estate Brokerage?
A real estate brokerage holds the license for all the agents working there, which makes it a legal requirement to join one before working with clients.
Think of a brokerage as the main hub for real estate agents. It’s the place that backs you up when you’re selling homes or helping folks buy them.
You might be wondering about the difference between a broker and an agent.
Real estate brokers have gone a step further in their education and licensing. They can run their own brokerage or oversee agents.
On the other hand, agents work under brokers to help people buy and sell homes.
Together, they make a team that covers all the bases in real estate transactions.
Real estate brokerages come in all shapes and sizes. Some are huge, known by everyone, and have offices all over.
Others are small, focusing on specific neighborhoods or types of homes.
But big or small, each brokerage has its own vibe, its way of doing things, and its plan for helping you succeed.
Choosing the best real estate brokerage is all about finding a place where you can learn, grow, and reach your career goals. Keep your eyes open, ask lots of questions, and get ready to find your perfect broker.
Factors to Consider When Choosing a Brokerage
Picking the right real estate brokerage is crucial to any agent’s success. You want to make sure you’re joining a broker that supports its agents to become their best.
Here are some key things to keep in mind:
Leadership Team
Success starts at the top. A great real estate brokerage is only as good as its leadership, making it essential to learn about their executive team.
You only want to choose a brokerage with strong experience and a vision for the future. They should have a clear plan of action for right now as well as for their future.
And that plan should be more than just “to grow”.
Culture and Values
It’s vital to find a brokerage that feels like home. You’ll spend a lot of time working with these people so their goals and values should match yours.
Do they value teamwork? Are they all about innovation? Will they provide you with value?
Make sure their playbook aligns with your game plan.
Training and Support
Having a brokerage that offers solid training and support is a game-changer. Especially if you’re new to the real estate industry.
Look for places that offer workshops, mentoring, and resources that can help you learn the ropes and keep improving.
Commission Structure
Money matters. Different brokerages have different ways of splitting the earnings.
Some offer a straight split, while others might have a more complex structure or even offer a salary.
The best brokerages offer multiple compensation plans so you can choose what works best for you.
Figure out which setup will let you achieve your financial goals.
Brand Reputation & Market Presence
Being part of a brokerage with a strong reputation can give you a head start.
Check out how well-known the brokerage is, how much market share they have, and what people say about them.
Are they growing? How fast? What do other people think about them?
Asking questions like these will ensure you find a brokerage with a solid footing in the industry.
Technology and Resources
Having the right tools can make a huge difference in any industry. Real estate is no different.
Does the brokerage have up-to-date technology for managing listings, marketing properties, and communicating with clients?
The right tools can save you time and help you close deals faster.
Marketing Tools
How will your brokerage help you market and promote your listings? Are they providing you with marketing materials such as:
- Business Cards
- Flyers
- Door Hangers
- Post Cards
- Thank You Cards
- Neighborhood Reports
- Sign Riders
Tools like these are powerful resources that will help you sell more homes. While also showing your clients that you’re the best person to serve them effectively.
Growth Opportunities
Look for a brokerage that helps you grow, not just as an agent but also as a person.
Can you see a path to advancement? Do they encourage agents to take on new challenges?
A good brokerage should help you level up in your career.
Perhaps they offer plans that help you build out your very own business.
Making the Decision
Now that you know what to look for, it’s time to make your choice. But how do you decide?
Here are a few steps to help you pick the best brokerage for you:
Interview Multiple Brokerages
Don’t just settle for the first one you meet. Talk to several brokerages to get a feel for what’s out there. Put them to the test before you pick the one you want to join.
Ask the Right Questions
When you meet with brokerages, ask about the things that matter to you. How do they support their agents? What kind of commission structure do they offer? How will they help you grow? The answers will help you make a smart choice.
Here’s a list of questions to ask the brokerage:
- What is your vision for your brokerage? Ultimate goal? (You need to make sure you’re own vision aligns with their future plans.)
- What is your growth plan? Have you thought through how you’ll handle expansion into new markets? (Have they thought this through? This is not something you can figure out as you go.)
- How much brand freedom do I have? Can I build my own brand? How prominent does the brokerage need to be in my branding and marketing?
- What systems, software, and tech do you offer agents?
- What does your support look like? If I have a problem, who do I call?
- What does the production of your average agent look like?
Talk to Other Agents
Sometimes the best intel comes from the field. Talk to agents who work at the brokerages you’re considering. They can give you the inside scoop on what it’s really like to be part of the team.
Bonus points if they can tell about their past experiences with other brokerages and how they compare.
Here are questions to ask other agents at the brokerage:
- What’s your favorite thing about the brokerage?
- What’s the #1 thing you dislike? Biggest issue?
- Is it easy to get support when you need it?
- What trainings are they providing?
- Do you take advantage of any software or systems they provide? If so, which ones?
- What’s the culture like? Do they have events? Are you solo all the time? Or do you get together and collaborate with other agents?
Trust Your Gut
After you’ve done your homework, listen to your instincts. Choose the brokerage that feels right. The one that seems like a good fit for your personality and goals.
Transitioning to a New Brokerage
Are you already with a broker and thinking about switching to a new real estate brokerage? It’s like moving to a new school. You want to make friends fast, learn the layout, and get involved.
Here’s how to make the move smooth and smart:
- Communicate with Your Clients: Just like sending out a “we’ve moved” card, let your clients know about your new brokerage. Explain how this move is good news for them too because of the new resources and support you’ll have.
- Transfer Your Listings: If you have homes on the market, you’ll need to work out how to move these listings to your new brokerage.
- Dive into the New Culture: Every brokerage has its own way of doing things. Be open to new ideas and ways of working. Connect with your team and learn the system as quickly as possible.
- Take Advantage of Training: If your new brokerage offers training, jump on it. It’s a fast-track way to level up your skills and get to know your new teammates. Identify the leaders and agents that can help you advance and improve your career in real estate.
Best Real Estate Brokerage to Work For
Choosing the right brokerage is a big deal. Here at SPACE, we went through the same process. After checking out our options and thinking about what mattered most to us, we chose to join LPT Realty.
It has been one of the greatest decisions for our real estate team.
Speaking with Pete Kamboukos, CEO of SPACE, these are the main reasons we switched to LPT Realty:
“They have a leadership that is extremely experienced,” Kamboukos said. “They have a great growth plan and financial stability. They are keenly aware growing too fast would cause issues for the brokerage. Which oddly enough has made them one of the fastest growing brokerages ever. Their executive team has a great vision for the future. It’s planned out in detail from start to finish.”
Kamboukos continued about his favorite part of working with LPT Realty saying, “I love what they’re doing for agents. LPT Realty provides more value to help real estate agents sell homes than any other brokerage I’ve ever seen. One of their mottos is ‘Real Estate First’, which is exactly what we want for our own agents.
Some additional benefits of working with LPT Realty include:
- They have a great culture that feels like family.
- The offer agents digital and print promotion packages.
- They provide free listing packages for every listing an agent gets.
- They’re always innovating with new tools like LPT Connect.
- They have no outside investors and no debt.
- They offer awesome training and support, so we’re always learning and growing.
- The commission plans are fair and well-structured, which means we’re rewarded for our hard work.
- Their reputation is top-notch.
- Their annual conference is all about what they’re doing to help agents sell more houses. They’re not sidetracked by “shiny object” syndrome with efforts that are wasted.
- People know LPT Realty and that helps us stand out in a crowded market.
- And more.
LPT Realty ticked all the boxes for us.
We wanted a brokerage where we could shine, grow, and make a difference for our clients. LPT was the perfect fit.
Come See What Makes Our Team the Best
If you’re thinking about making a move or choosing your first brokerage, take a look at what matters most to you.
Think about your goals, your values, and where you see yourself growing.
Consider what SPACE found in LPT Realty. It might just be the game-changer you’re looking for. Reach out today, ask questions, and see where your potential can take you.
