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Torn between brokers
06-28-2014, 01:02 PM
Post: #1
Torn between brokers
Hello, I got my license about a month ago and joined a brokerage in another city thinking distance would not matter. Though the broker has been supportive, I feel the distance is crippling me. I also feel the lack of name recognition is hurting me as well. So I'm thinking of making a jump. I've talked to 3 brokers.

First was a 100% option but didn't like the feel of the office, broker etc. So I nixed that one pretty quickly.

Second, is a boutique brokerage where the broker has a SWS mentality though she has not yet read the book (but will upon my recommendation). She has about 20 agent, a beautiful, centrally located office. She does charge a $100 monthly desk fee which also covers E&O. She seems to have a great reputation and is all about community. I feel she would certainly be available if I needed her.

Third, is a well recognized local brokerage backed by a large credit union and bears the credit union's name. They do tons of advertising, have great name recognition and a good office location. They also have their own in house mortgage and title companies though I am free to use another. Broker seemed extremely energetic, friendly and willing to help. However, I feel as if he will be driven corporately for numbers. They charge no transaction fees and no monthly fees. Only fee is $55 E&O quarterly.

Both two and three offered the same split going in. However, getting increases in the split would be more easily accomplished with option three as option two has a pretty large cap before I can move up. However, once you cap each year, you go to a 100% commission.

Thoughts?
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06-30-2014, 05:22 AM
Post: #2
RE: Torn between brokers
It's so confusing, isn't it???? And it's really hard to know which is the right decision, since once you've made it, you won't know if the "other place" would have been better. I can guarantee you that you won't be 100% happy with any brokerage you choose and will probably second-guess yourself regardless of your decision.

Don't let this paralyze you, though. From what I see here, Option 2 sounds like a better fit, though... what is your gut telling you?

"The Secret of Joy in work is one word - excellence. To know how to do something well is to enjoy it." Pearl S. Buck
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06-30-2014, 10:52 AM (This post was last modified: 06-30-2014 10:57 AM by Rg from ny.)
Post: #3
RE: Torn between brokers
Hi Tonya. Although I have been working as a realtor for a year, I have jumped around a bit (3 realtors in that time period). This is what I have found: At least in my area (a suburb of NYC) an agent cannot and should not rely on their manager or broker for training or ongoing guidance (although I do understand that Keller Williams is the exception to that rule .... I am not with KW, myself.).

The track record of any realty you are considering joining is also important. You are looking for a stable, forward moving company that is well regarded and professional. I think you might wish to search your multiple list service for number of listings in the last year or so brought in by each office, and what percentage of those listings were sold within a time period that is somewhat reasonable for your geographic area. Also, have most of the properties been listed by the same handful of agents at each office (that might be problematic for someone breaking in). I have received my training, by and large, from reading a lot about the industry and the philosophy of selling in general, and from coaches who write or post videos online. I have developed relationships with a couple of co-agents in my office, who help fill in the gaps in my education. I only would go to my manager if I had a real problem with a deal or situation. Hope this helps!

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