What to Look for When Deciding to Join a Brokerage

Deciding what brokerage to join might seem like a daunting task. There are a ton of big names and small boutiques on the market that advertise similar attractive incentives which can be repetitive and confusing.

Luckily, this can be a very easy task if done right. The first thing you want to do is follow my three-step guide from the article “The Best Way to Start a Career in Real Estate” which you can read by clicking here. Once you define the kind of realtor you want to become the rest falls naturally.

The following list is the key points you want to look for in a brokerage when deciding which one to join.

1. What is the Culture Like?

Is there a thriving team culture of collaboration or is everyone loan wolfs? If you are new to Real Estate you need to be able to feel like you can ask for help and there is a community that wants you to succeed. If it’s a dog-eat-dog brokerage you won’t learn the ropes and you will stay at the bottom.

2. Is There Services and Admin Support?

Your brokerage should be providing you with so much support that you feel like you have a personal assistant. The Jack of all trade agents is a dying breed because the world is way too complex to do it yourself. The more support you have the more organized you will be which will allow you to take on more deals.

3. Brokerage Has a Strong Network of Service Providers

You are only as strong as your network, and if you are aligning yourself with a brokerage that has a weak network of service providers you will not come out on top.

4. Brand Power

What does the brokerage’s brand represent? Does the brokerage’s brand align with your personal brand? I founded a unique brokerage because I believe that the ubiquitous big box brands of “Last Century Realty” are all the same. Often, the only difference between most big box brokerages is the colour of their flag. Which consumers find BORING

5. Does the Brokerage Present Additional Income Streams?

If you are not considering how to diversify your investment portfolio you are missing out on major opportunity. The same can be said for your brokerage. If your only source of income is through selling properties, you have no additional incentive to advance your career.

When joining a brokerage, you want to look for the opportunity to access more streams of income. For me I focus on, sales, mentoring, dividends, profit sharing, and business development to name a few.

If you have no idea what I’m talking about… time for a change 😊 

6. Don’t Focus on Cost

The last thing you should be focused on is the cost. First, you want to focus on all the value the brokerage brings to the table versus the other options you are considering. The cost can be invaluable if the offerings increase your income experientially. The difference between a percent or two or a few thousand dollars could be worthless compared to the sales volumes their services allow you to profit off of.

Have any tips for what to look for when joining a brokerage or are you a new realtor with questions you’d like answered?

Send them over, I’d love to check them out!

-   AJC