How To Choose Your First Real Estate Brokerage<\/h1>\n

<\/p>\n

[mashshare]\n

---

\n

So you\u2019ve just passed your real estate salesperson\u2019s test. Congratulations! Real estate sales can be the most rewarding journey that you\u2019ll ever embark on \u2014 or it can also be the biggest cause of stress you can imagine. You\u2019ve got a few upcoming decisions that might define your entire career, so pay attention closely.<\/p>\n

As a new agent, you\u2019ll have to decide which brokerage is best for you. Most states require new agents to work under an established broker for a minimum time frame (two years in California) before they\u2019re able to get their broker\u2019s license and work alone.<\/p>\n

These first two years is also where you\u2019ll learn your craft and, according to the National Association of Realtors, either sink or swim. Over 80% percent of new real estate agents exit the business in their first two years.<\/strong>\u00a0It\u2019s easy to see why.<\/p>\n

Real estate is a very \u201crelationship-oriented\u201d business. A good portion of a successful agent\u2019s business comes from past clients and referrals, of which a new agent wouldn\u2019t have. During the first couple of years, new agents have to earn their business through \u201csweat equity,\u201d which means a lot of cold-calling expireds, door-knocking and open houses.<\/p>\n

Because these activities are more of a numbers game, they tend to take longer to pay off, and new agents can go months without a commission check. That\u2019s why it\u2019s so important to select the right brokerage from the start.<\/p>\n

When you\u2019re ready to start working, make sure that you interview with at least two or three different brokerages. Unlike a traditional job environment, where the employer is interviewing you to see if you\u2019re a good fit for them, you should be interviewing the brokerage to see if it\u2019s a good fit for you. This process is where you\u2019ll start discussing commission splits, lead generation options and training support.<\/p>\n

If you\u2019re starting the brokerage search from scratch, you\u2019ll want to decide whether you\u2019d like to work for one of the national chains (Re\/Max<\/a>, Keller Williams<\/a>, etc.) or join up with a boutique brokerage (REH<\/a>, John Hart<\/a>, PLG<\/a>, etc) in your local market. The paths are different, and both offer pros and cons.<\/p>\n

<\/div>\n