So you got your license, and now you’re wondering, “Where should I hang it?” Hopefully, you got a laugh out of that because you didn’t just hang it on your wall. What I mean by that is you should hang your license with a real estate brokerage.
But which one because there are so many? Well, today, I want to go through that and discuss with you some pros and cons. Just some general thoughts to think about.
What a real estate brokerage can do for your career
In my opinion, brokerages should be a platform for your success. Because, ultimately, the real estate brokerage you’re a part of will not make or break you. However, it will either hinder or help you on your roadmap to your success in real estate, whatever success means for you. Here are some things to consider when joining one:
1. How are you going to get training from your chosen Real Estate Brokerage?
First, you should know that there are things that should be considered very seriously. For instance, how will you get training? Who will help guide, mentor, and teach you about the contract? Or, who will teach you about farming techniques, or marketing techniques, or risk mitigation? In any case, you have to think about all of these things you need to do to close a deal and then obviously serve clients successfully. So training is very crucial.
Now, many brokerages have a variety of training programs. However, it’s not just that specific real estate brokerage as a whole. It’s the regional side, down at the office level, that you also have to consider. You have to find out what kind of expertise they can offer you. What kind of exposure to other top producers can they give you? Who teaches the classes? What kind of classes are offered? Next, how do they hold you accountable? How do they pair you with a mentor so that you can get your first few deals done? Will they teach you how to get open houses? All of that stuff are great questions to ask. So simply, if you’re going to start interviewing at some brokerages, you want to find out how they’re going to help you get into production quickly.
2. Brand Recognition
Then, the second thing I think is just as important but maybe not quite as important is brand recognition. If you walk into the room and you’re with Mom and Pop real estate brokerage, that may mean something in a, say, local geography. Heck, it may mean even more so than being a part of a big one like Keller Williams or Coldwell Banker because you’re one of a bazillion being with these names, right?
However, suppose you are trying to serve a small and specific niche, like farmland, certain condo complexes, high-end luxury, etc. In that case, aligning yourself with a brand that emulates what you’re trying to do in your career is huge. It’s super, super important. And doing some of that research ahead of time so that when you introduce yourself as, say, “Hans from Keller Williams Luxury International with GundermanGroup,” for example, people would immediately know something about that. That would mean something and give you a little bit of credibility. And that can really help you get a leg up, especially when you’re starting out. So think about the brand, where it’s positioned, and how you ultimately want to plug into that.
3. What your goals are
Above all of this, I would say it’s absolutely critical to consider what your goals are. When you wanted to get into real estate, what prompted you to do so? Was it the lifestyle? Was it the financial reward? Or was it trying to help people work their way through a very big, complicated, and expensive transaction? Perhaps some combination of those? Or, was it the ability to control your time in your schedule and build a team? All of that kind of stuff should be considered because your goals have everything to do with the decisions you make.
Now, I firmly believe, as my mentor, Andrew, always says, where you are informs everything that happens to you. So if you are going to surround yourself with people, a brand in coaching that is on a track you don’t care to be on will not be a good fit. Therefore, it would be best if you do a deep assessment about that.
A coaching course that can help you find the right real estate brokerage if you want to succeed in the luxury market
Just a quick side note. Currently, I am working on a coaching course. And this is exactly why I’ve put some of my coaching content together. I’m really hoping it would help people figure out how to get into, succeed, and win in the luxury market. Because I firmly believe that the luxury market is the best place not to be disrupted by technology and competition. In addition, it is also the best place to build relationships and a long-lasting career that is hard to outsource and disrupt.
Right now, my coaching course is currently free, but it will eventually be a paid program. Until then, I’m offering it for free to a select group. So if you’re ready to learn how to be a Luxury Market Expert, send an email with FREE COACHING in the subject line to firstname.lastname@example.org to apply! I want to make sure that you get off to the right start, make some good choices so you can tee yourself up for success in the luxury market!
I hope my blog on "Real Estate Brokerage | Things to consider before joining one" has helped you.
If I can give you more context on the process of buying or selling your home, please do not hesitate to reach out. My information is below.
Here’s to all your success!