Know what to look for, what your worth is and what you value most in your new brokerage search
There are many important and different reasons why you may consider a change of scenery in your day-to-day real estate business. Deciding which brokerage to exercise your skills at can have a major impact on your reputation, long-term career goals, growth—and, most importantly, your pocketbook. It’s a big decision, so it’s important to take the time to outline your goals and needs when considering changing brokerages.
If you’re thinking about switching up your brokerage, here are some things to consider before you get overwhelmed or unnecessarily burn any bridges.
In today’s real estate world, technology is king. From search-and-find apps to digital brokerage tools and platforms, technology is transforming the home-buying process and customer needs, so it’s only natural that technology needs to be a central feature in your business and where you hang your shingle. Make sure you focus your efforts on a brokerage that values technology and innovation. HomeSmart, for example, is a company that operates everything on an all-in-one proprietary platform. From streamlining tasks to handling what you need on the go, HomeSmart delivers an end-to-end management system that keeps brokers and agents equally engaged.
Flash-in-the-pan brokerages pop up every day, and they can be exciting. But finding somewhere that values consistent development and growth in everything from revenue to market size to client base is imperative. Agents might gravitate to something shiny and new—we get it, it’s sexy—but you want to be somewhere that will also help you continue to grow and that has a reputation to back it up.
You and Your Own Business
At the end of the day, your success in real estate is dependent upon you—it’s up to you to be your own boss in most situations. Review your approach to the industry, check in with yourself to see how your goals are coming along, and ask yourself what you’re doing to see growth in your business. You’re the master of your own destiny. A solid and successful brokerage can help with the tools and training, but you must put in the work.
Crunch the Numbers
A lot of brokerages say they provide real value for their share of the split and the fees they charge, but how are they really helping you? Is it worth it? HomeSmart gives 100%-commission to its agents, taking a small fee out with each transaction, while providing access to leading technology, training and support. This all-in commission model puts more money back in the agent’s pocket while also helping them be part of a company that values independence, innovation and sustainable growth.
Sometimes, a move might not be the right call or one that you have to make right this minute. Take your time, see what works best for you, and set a plan for yourself that’s going to put you in the best position to succeed.
Michael Swope is the chief revenue officer at HomeSmart International, responsible for leading HomeSmart’s corporate brokerages, agent recruitment efforts, service teams as well as business development for HomeSmart’s Affiliated Businesses. For more information, please visit homesmart.com/join.