Do you feel like the company does not appreciate your efforts to bring business to the brokerage? Are office politics restricting you from working efficiently? Is there another brokerage company that is luring you to switch by offering better recruitment promises?
It is relatively common to switch brokerages in the real estate industry. Although this is a kind of practice that is widespread among real estate agents, the reasons behind such action often vary widely. Usually, it is about fitting better with the brokerage company while others do it for a better splitting of commission. Typically, the last three months of the year are the slowest in the Real Estate business, and this is often the season when most agents are on the move especially those who do not have any active listings. However, regardless of the reason, do you know when it is the best time to look for another brokerage company?
When your brokerage company practices a broker-centric culture, then maybe it is time for you to consider changing houses. This type of culture is prevalent in an office environment where everything is centered around one point only: your broker getting their split of your hard work and money. This is also one of the reasons why many agents often look for another brokerage company that can provide them with limitless growth by giving them the tools, resources, training, motivation, and strategies to become a top producer.
Sales is what a real estate agent’s career is based upon, and if they are not being given the right tools and training so they can sell better, they will be looking for another brokerage who will. An agent needs help in marketing so they can establish their brand and build their leads. If a brokerage company has failed on this part, they are certainly looking forward to many agents crossing over to greener pastures. To put it simply, agents look for new brokerage companies that can offer them solutions that will make them even more successful.
What to Look for When Changing Brokerage?
As a real estate agent, you are an entrepreneur who runs your own business, and this is not an easy thing to do. Many agents today are highly committed to their career and most often act according to what is best and ideal for their overall success. This is more than just looking for a brokerage company with the best and highest commission plan. So when planning to change brokerage companies, there are several things you need to consider.
First of all, you need to define the work culture or practices you want to fit in. What type of working environment best fits your practical ethics? So while this may seem like one of those scenarios wherein you are required to go with your instinct, this is a factor that will affect your decision-making process.
If you are more efficient in working with a smaller group of people, you may want to look for a small company where you have the opportunity to develop close relationships with your co-workers. If you want an atmosphere that is all-business and corporate, look for a company that meets your requirement. This is critical because if the work culture and office practices of your current brokerage company do not fit with your goals and professional needs, it can weaken your ability to succeed in that environment.
Another thing to consider is business support. Simply put, what does your new company offer you that will help you become more successful on your own? A higher commission split is a factor that must always be considered, but this is not the sole factor that will make you decide whether to join the company or look for another. You need to find out if the brokerage company provides you with vital resources that will sustain and support your professional development while you are with the company. Are there opportunities to be explored or do they offer support for your lead generation efforts? Do they have the right marketing tools that will help you establish your new brand with the new company? Do they have affiliate businesses that can be leveraged so that you can improve your experience with clients and the way you provide your service?
Beyond these issues and questions, you must be positive about the support that is most essential to you. More often than not, emotional stress can stir the desire of a real estate agent to make a switch. However, such a significant action must not be based on anything that is purely emotional. After all, this is an important business decision, so it must only be based on objective and sound reasoning.