What do you think a real estate agent (new or experienced) is looking for in the company (Brokerage) they would be affiliated with were they to enter the business or transfer their licence?
The real estate business is changing a warp speed in technology, regulations, and due to the latest downturn. Average age of Realtor is 54 and consumer buying is 33. Brick and mortar offices will become less prevalent in the future. What attributes do you think are important from an agents perspective for the company they affiliate with as a career?
Good Answers (3)
Nobu H.
REALTOR | Volunteer NAR Leader | Instructor | Speaker
Best Answers in: Business Development (4), Personal Real Estate (1)
New or experienced:
Brand Recognition: Among both consumers and agents alike. This is pretty underestimated among us "independent contractors" where we've been told over and over again "we are our brand." That adage is pretty dated.
Agent and Consumer-centric tools: Anything my broker can do to make my job easier the better in terms of web, IT, marketing, et al. Anything my broker can do to better educate my clients the better: sales information, home values, regulation info, et al. We, after all, are representing buyers and sellers in the purchase of what will be the biggest transaction of their lives.
Training/Education: Also underestimated. There is simply too much information - in almost all facets of our industry - to absorb at any given time. I want to know all pertinent info/trends/regs changes, from the consumer on up, whenever I need it and my broker needs to facilitate it.
Quality Mentorship: My broker needs to create an atmosphere of professionalism and leadership through creative management and/or endorsement of agent mentorship relationships. I don't think many "new" agents know what to look for in their newfound career, much less their brokerage, and get in over their heads almost immediately. These relationships would not only weed-out dead weight quickly, agents who persevere will be better prepared to the the ground running more quickly.
I've seen it all, from the little independent to the big box broker; splits, commissions, all that stuff is a wash from brokerage to brokerage once properly negotiated. The irony of this question is that we've been grappling with the "how do I differentiate myself from all the other agents out there?" question forever. It's about time that this question was asked at the brokerage level. Core aspects of the broker business model will be the answer to that one.
1. Management that does not think and act like dinosaurs.
2. Management that [truly] protects the clients.
3. Management that provides relevant training if they are going to offer training/education.
4. Management that is professional and commands respect.
Marilyn M.
Real Estate Broker at Andrew Mitchell & Company; Wayland, Sudbury, Maynard, Stow & west of Boston
When I was new to the business in 1993 I looked for a company with excellent training, name recognition; marketing support and a non-competing manager/owner - technology in residential real estate was still stone age so that wasn't a factor. I really didn't know about negotiating splits or office leads or any of the things that aren't taught in licensing classes.
Second time around, I went for marketing tools - the company had an excellent direct mail program in place; the opportunity to help shape a new office that was part of an established company. and the split.
Last February I joined RE/MAX - this time it was respect, technology, international brand recognition, the network of high producing experienced agents, unlimited educational opportunities via the company and the support of NAR designations, independence, and ability to keep more of my earnings.
More Answers (10)
Commission split and lead generation.
I have always felt that being with a company with a recognizable name was a great benefit. But much more than that, I feel that if we 'older' agents are going to reach the 33 year old consumer, it will be initially through technology/internet...so why not have millions of dollars behind you in internet exposure - something you will get with a national company.
I'm well below average Realtor age. My background is business. I'm hooked up with tech/social yet old school about the basics.
* attractive commission structure
* commitment to high standards of continuing education
* support services
* foundation of industry and business integrity
* charitable community involvement
* accessibility to top notch Managing Broker
* high spirited and fun office
... for starters
I just recently moved from a franchise office to a new startup. The bottom line for me was the split (if any) and/or fee(s). The banking industry has made selling property near impossible to do in any reasonable amount of time. As a result, I found it necessay to simply look at the bottom line. I am a veteran of 13 years experience in commercial and residential real estate. While all of the people I have affiliated in every office I have been associted with a great people, there are no checks waiting for me if I didn't have a closing. Pure and simple, it's the bottom line.
Mike M.
Owner at Critical Path Action
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Mike,
In most cases they're looking for marketing and support to make their transaction processing quicker and easier (so they can spend more time with clients and prospects).
Mike
Well ,Good Q, I have been part of some of real estates in dubai.Unfortunatley even being part of big developer company with huge name we faced downturn in the market.Understood lost my job with company.
after all that experience I feel market stabilization is far more important then company integrity.In time of crisis what tactics are adobted by market ,is there any plan B? dubai Market enjoyed boom and now a downturn.When it was boom all companies were good to be with and in downturn even big companies are ruined themselves.So as agents what we can expet.
I can conclude,for career the company that provide leverage to employees would be my choice.As employees are big assest for any company.
Bob D.
Mortgage Banker for Bank of America Home Loans & Owner of Lock-it Mailboxes
I'd say where are they going to be in 5 years or better yet 1 year with the way technology is happening right now.
Bob Drawson
Links:
Joshua J.
I Love To Solve Problems Creatively & Improve Your Ideas | Social Media Marketing, Real Estate, Non-Profit Champion
Best Answers in: Personal Real Estate (2)
I prefer to do my own lead generation so that I am in control, so a company that teaches this would be first. With that being said, I would want a brokerage that leverages its size by making cost effective tools available to agents, such as real estate search website.
Brand recognition is not important. I've been with boutique companies and big ones and neither got me extra business or cause me to lose business due to the "name."
Commission splits are important, but dependent on the value they bring the agents. The more you take off my plate as far as responsibility, the more you can take from my check.
kevin K.
Management Consultant, writer, past TV show producer,
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...Brick and mortar offices will become less prevalent in the future.
not sure what you mean here. Licenses have to be
hung, files have to be made available. Plz clarify.
[RE broker]
Professionalism, consistency, access to management/mentors never go out of style.
