What should you look for in a real estate broker or agency as a licensed agent?

1 Commission split and fees

One of the most important factors to consider when choosing a broker or agency is how much of your commission you get to keep, and what fees you have to pay. Commission splits vary widely among brokers and agencies, ranging from 50/50 to 100/0, depending on your experience, performance, and contract terms. Fees may include desk fees, marketing fees, transaction fees, technology fees, and franchise fees. You should compare the commission split and fees of different brokers and agencies, and calculate your net income based on your expected sales volume and expenses.

2 Training and mentoring

Another factor to look for in a broker or agency is the quality and availability of training and mentoring. As a licensed agent, you need to constantly update your skills and knowledge, and learn from the best practices and experiences of other agents. A good broker or agency will provide you with ongoing training opportunities, such as webinars, workshops, courses, and coaching sessions. They will also assign you a mentor or a team leader who can guide you through the challenges and opportunities of the real estate market, and help you grow your business.

3 Support and resources

A third factor to look for in a broker or agency is the level and type of support and resources they offer. As a licensed agent, you need to have access to the tools and systems that can help you streamline your workflow, generate leads, market your listings, communicate with clients, and close deals. A good broker or agency will provide you with support and resources such as a CRM system, a website, a lead generation platform, a marketing budget, a transaction coordinator, a legal advisor, and an administrative staff.

4 Culture and values

A fourth factor to look for in a broker or agency is the culture and values they promote. As a licensed agent, you want to work with a broker or agency that shares your vision, mission, and ethics, and that fosters a positive and collaborative environment. A good broker or agency will have a clear and consistent brand identity, a strong and loyal client base, a high and stable retention rate, a diverse and inclusive team, and a social and environmental responsibility.

5 Reputation and recognition

A fifth factor to look for in a broker or agency is the reputation and recognition they have in the industry and the community. As a licensed agent, you want to work with a broker or agency that has a good track record of success, quality, and service, and that is respected and trusted by both peers and clients. A good broker or agency will have a high and positive online presence, a large and active network, a solid and professional referral system, and a recognition and reward program.

6 Growth and opportunity

A sixth factor to look for in a broker or agency is the growth and opportunity they can offer you as a licensed agent. As a licensed agent, you want to work with a broker or agency that can help you advance your career, expand your market, and increase your income. A good broker or agency will have a clear and realistic growth plan, a flexible and supportive management style, a competitive and innovative edge, and a generous and fair compensation package.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?