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This is the second blog post in our New REALTOR series. To read the first post, “How to get your Real Estate License in Ontario” go here.
As a real estate agent, choosing the right brokerage to work with is crucial to your success in the industry. With so many options available, it can be overwhelming to narrow down the choices and make a decision. While it may be tempting to focus on what your commission splits will be and what fees you’ll be paying, don’t let that dictate your end decision.
To help you navigate this process, here are some important questions to ask potential brokerages when choosing where to “hang your sign”.
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- Does your management team sell?
While a management team with a background in real estate sales can offer valuable insights and guidance to their agents, you take into account whether or not the brokerage’s managers still actively sell real estate as well. If yes, they may not always be available to you to answer questions or provide help. There may also occasionally be conflicts of interest to be aware of. - Do you have in-house marketing?
A brokerage with an in-house marketing department can provide valuable resources and support to their agents. This can include professional photography, graphic design, and social media marketing. - Do you offer in-house coaching?
A brokerage that offers in-house coaching can help new and experienced agents develop their skills and achieve their goals. Look for a brokerage that provides regular coaching sessions and support so you can grow your skills and your business. - Do you have a new agent training program?
If you’re a new agent, it’s important to choose a brokerage that offers a comprehensive training program. Starting into this business can be daunting and hard to know where to start. A new agent training program can include training on industry regulations, marketing, and sales techniques. - Do you have multiple meeting spaces that make clients feel welcome?
Meeting spaces that are inviting and professional can help you impress clients and close deals. Look for a brokerage that offers multiple meeting spaces and amenities such as refreshments and technology. - Do you hold regular sales meetings with usable content and timely updates?
Regular sales meetings can help you stay up-to-date on industry trends and changes. Look for a brokerage that offers frequent meetings with useful content and timely updates. - Do you give back to the local community?
A brokerage that is involved in the local community can help you build your network and reputation. Look for a brokerage that sponsors community events and charities. - Do you have an experienced and dedicated commercial team that can support me?
If you’re interested in commercial real estate, it’s important to choose a brokerage that has experienced and dedicated commercial support. Look for a brokerage that can offer you the support and resources you need to succeed in this niche. - Do you have admin available to place my listings on the MLS or to help with my listing paperwork?
Admin support can be invaluable to a busy agent. Look for a brokerage that has a dedicated administrative team that can help you with your paperwork and listings so you can concentrate less on paperwork and more on selling. - How long has your brokerage been operating in the market?
A brokerage with a long history in the market can offer valuable insights and connections. Look for a brokerage with a proven track record of success and deep roots in the community. - What kind of ongoing training do you offer, if any?
Training at the beginning of your career is just one piece of the puzzle. Ongoing training throughout your real estate career can help you stay competitive and advance your career. Look for a brokerage that offers regular training and development opportunities. - What are your office hours?
Office hours can affect your ability to meet with clients and access resources, as well as outside agents and clients looking to book appointments outside of standard office hours. Look for a brokerage with extended office hours that fit everyone’s needs and schedules. - What is your brokerage’s productivity per person?
Productivity per person can give you an idea of how successful the brokerage’s agents are. Look for a brokerage with a high productivity per person ratio. - What is your brokerage’s market share in the region?
Market share can give you an idea of how well the brokerage is established and respected in the market. Look for a brokerage with a strong market share in your region.
- Does your management team sell?
Choosing the right brokerage is an important decision for any real estate agent. By asking the right questions and doing your research, you can find a brokerage that aligns with your goals and helps you achieve success in the industry.
If you have questions for us or would like some more guidance as you embark on this new career we’re always happy to help. Just reach out to our Broker/Owner, Vanessa Oake Hogan, to set up a meeting to get you started!
