It doesn’t make a difference.
Yup, I said it. It doesn’t matter.
The industry has changed and the best real estate company to work for will differ from region to region. There isn’t a single brand that’s superior anymore, because the truth is the whole real estate brand thing is DEAD. The whole individual brand thing is ALIVE & GROWING!
It’s nothing the brands did, it’s because of how consumers interact today. Less than 2% of buyers and sellers picked their agent because of the company they work for. In other words, buyers and sellers care more about WHO they are hiring than the name of the company they work for. Check out this post in one the Facebook groups I’m in.
Buyers and sellers are beginning to figure out that the quality of their Realtor is what determines a wise buying or selling decision, not the company behind them.
The best real estate company to work for in your market are the ones with the best leadership! They tend to have a TRUE leader running the show that inspires their agents.
If you are on the search for the best real estate company to work for, I would suggest starting with some of these questions. These should help you make an educated decision in things to look for. My goal of this post is allow you to make an educated decision and not fall for the “I’ve been here for years” line that so many of the brands hang their hat on.
What kind of tools and support do they offer?
The only reason real estate offices exist is to support their agents. It should be a real estate company’s duty to create an environment in which their agents can succeed in. Making it in real estate is not easy. There is a reason nearly 80% of new agents don’t last in the industry. It is not the agents job to create that environment. Real estate brokerages, pre-Internet, used to create tons of leads for their agents. Buyers and sellers used to approach the brand first, not the agent. Therefore, that was how many brokerages earned their split.
Today, we know that is no longer the case. Sure, some real estate companies still create business for their agents, but the difference today is that the brokerage/brand used to be the consumers first stop. Now the Internet is. I believe that because of this brokerages need to supply their agents with more tools to succeed in the digital age.
The best real estate company to work for is one that EARNS THEIR SPLIT!
What kind of culture do they have?
Have you ever heard of the phrase, “you are the average of the people you surround yourself with”? It’s true! Working at a real estate office with no energy can be extremely draining. Working at a real estate office with nobody in it can also have a negative effect. You need to determine how important culture is to you so you can make a wise decision.
Some agents like monthly social gatherings. Some agents like monthly meetings. Some agents like never seeing anybody in the office. Think about what’s most important to you and then talk to some of the agents who work there.
The best real estate company to work for has a culture you feel encouraged and energized to work in.
The Commission Split
What kind of splits do they have?
Split is not everything! When considering a new real estate company to work for, you should take everything they offer into consideration. Are they giving you business, but on a lower split? You need to look at your overall NET income potential. Far too many agents look for the highest split only, but if you are not doing much business, how much does that really amount to?
Some agents are totally independent and don’t need much support from anyone and could be better off at a 100% type of brokerage. Some brokerages offer creative residual sharing plans like Exit Realty, EXP Realty or REH Real Estate. Others, like KW offer profit sharing. There are all kinds of shapes and sizes that you can choose from today.
The best real estate company to work for is one that has the best commission structure for you!
What kind of technology do they offer?
The world of real estate marketing has completely changed. Real estate will always be a relationship based business, but to compete against flat fee brokerages, ZILLOW, and other Realtors you need to sharpen your technology game. Do they have a listing marketing system? Do they offer any kind of CRM tool that allows you to keep track of your database and market them? Are they familiar with SEO Marketing? Do they utilize Social Media effectively? Your real estate company should offer the right tools to fit your brand and marketing efforts.
The best real estate company to work for have technology suited for you!
Running A Business
What kind of leadership do they have?
I think this is one of the most important questions to ask when considering a new real estate company to work for. Ultimately the owner or managing broker of the company is going to outline the direction this company is going. Are they forward thinking and adapting to the changing demands that buyers and sellers have of real estate agents today or are they extremely old school?
Do they inspire you to take action and will you do more business simply by being around them?
The best real estate company to work for is one with LEADERSHIP that inspires you!
In conclusion DO NOT pick a real estate company on a brand alone. Pick them because you feel they are a right fit for you. I have seen many offices of the same brand, but run totally differently. Unfortunately, the brand you work for does not matter nearly as much as it used to. The good news is that this has created better opportunity for entrepreneurial agents. The bad news is that you might have to work a little harder to get to where you want to be, but hey isn’t that the concept of America anyways?