Tips to Select a Real Estate Broker
Introduction ď ˝
Whether you are a recently-licensed real estate agent or a seasoned professional looking for new opportunities, working for a real estate broker can expose you to a large client base and help you succeed in your real estate career. Most cities and communities have a large number of nationally recognized brokers and locally managed real estate companies.
Tips to Select a Best Real Estate Broker
Research the real estate brokers in your area from a consumer perspective Conduct an online search of different brokers in your area Schedule an interview with brokers you are interested in Talk about commissions Determine how referrals and leads are handled Assess the available technology Talk to real estate agents in your area
Research the Real Estate Brokers in Your Area from a Consumer Perspective ď ˝
Pay attention to the companies you would notice if you were looking for a broker as a seller or a buyer. It may be helpful to imagine you are from out of town and searching for a home.
Conduct an Online Search of Different Brokers in Your Area ď ˝
A successful broker will have an attractive website, activity on sites such as Facebook and Twitter, and well written reviews and testimonials on sites such as Yelp.
Talk to Real Estate Agents in Your Area
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Find out what the most desirable companies are, and why. If you completed your real estate education locally, you may also be able to ask the professionals at your school for broker recommendations.
Schedule an Interview with Brokers You Are Interested In ď ˝
Most brokers will jump at the chance to talk to a potential new agent. Call their local offices and schedule an interview to get started. Read the rest of this section first and have a mental (or physical) list of questions ready for your interviewer. Know what sort of answers to your questions you prefer
Talk About Commissions ď ˝
Most brokers divide the commission 50-50 with their agents. You will also need to know which party pays for licensing, marketing materials and benefits such as health insurance. The amount of control a broker usually has over these things will often be similar to the amount of control they have over your selling process.
Determine How Referrals and Leads are Handled ď ˝
You will want to know if agents are assigned potential clients in a specific way, or if it will be up to you to bring in your own clients. Some brokers, especially larger ones, offer leads and other leadgeneration services to agents. This can be invaluable if you are in a new area or are just starting out.
Assess the Available Technology ď ˝
Some brokers require their agents to provide their own laptops, cell phones and other devices. Other brokers might provide computer access, copiers, fax machines and even iPads or tablets. Factor this in to the cost of getting started in your real estate career
Who I Am‌. ď ˝
Matthew Raanan is currently working as Residential Broker in ColdWell Banker who provides the help in real estate marketing and project management in California.