I have found the two common reasons real estate agents leave the business is because they do not receive what they were told they would get from the brokerage they affiliated and the most common reason they leave the business or change brokerages is due to the fact they aren’t making the money they thought they would.
Therefore, it is most crucial for you to align with the real estate company that will best offer the environment for you to achieve a high level of success . When talking with a company you are considering to “hang your license” with, remember that is it a bilateral interview. You should have a clear understanding of the firm’s Mission, Vision, Value and Beliefs before making a decision to join. Likewise, know how is the company going to train and mentor you. It’s not all about the split!
Real estate brokerages today are about education, support, and litigation avoidance. An agent may be doing what they’re supposed to be doing. But is the brokerage holding up their end of the bargain?
An agent today needs to understand that this is their business, that they’re creating. The brokerage is there for support. Agents should make sure they’ve interviewed several brokerages in their market to really see what matches your goals and your way of working.
When looking for a new brokerage there are many things to consider. However, most agents will focus on their compensation plan, what education is available, and what tools and technology is in place to support the agent.
Of course, not every agent is looking for the same thing. Some agents are newer and some agents are more experienced.
For new agents, access to training may be the most important aspect of a finding a real estate brokerage. Followed closely by mentorship and the ability of the brokerage to hold their hand. There are many pitfalls out there in real estate and choosing the right brokerage could mean happiness, satisfaction, and long term success.
A mid-level agent is someone who has been licenses for a while, and has done some deals, but may not be ready to be a “super agent.” They are perfectly happy making a handful of deals each year.
For those agents, the most important part of a brokerage might be access to the right tools and the right support. Again, this agent wants to be supported. But what they really need is the freedom to do what they are best at.
The experienced agent often times comes to a brokerage, at least initially, for the compensation. But experience has shown that they stay for the right environment.
A few tips for when changing or looking for a real estate brokerage to join.
- Try and attend a training to gauge the energy and style of the brokerage.
- With today’s technologies, there should be more than one way to get your training. There should be live training, a resource library, videos, trainer subscriptions, and even podcasts.
- Be selfish. Ask yourself, “What is going to be the key piece to me working with this brokerage?”
- The agent is the one interviewing the brokerage. Not the other way around.
There are only 3 kinds of real estate agents and only 3 kinds of real estate companies: DEPENDENT, INDEPENDENT & INTERDEPENDENT(KW). The only questions are, does an agent value what we value and are we delivering on our interdependent value proposition on a local level? When actually ‘bought into’ by our agents and leadership, INTERDEPENDENCE will always beat INDEPENDENCE 100% of the time,but also remember what Gary Keller says, ‘A real estate agent can not go from DEPENDENT to INTERDEPENDENT…without going through INDEPENDENT(lead generation) first’.
To learn more about INTERDEPENDENT agents and how Keller Williams Realty innovates the model, view this video. It is the most comprehensive and understandable explanation of the KW model I have ever seen.
It’s not just about what you ‘get’ at Keller Williams Realty…it’s about what you become!