Deciding which broker and firm will best suit your individual needs, particularly at first, is not unlike entering into holy wedlock. Yes, you can always move on, but please do not underestimate the important role broker-selection plays in establishing yourself in the real estate industry—and ‘broker hopping’ is not a good idea.  The masses of top producers are torn in their advice to new agents concerning broker size. There are many who proclaim big is better and then there are those who suggest small is safer. And then there are the literally thousands of firms that fall somewhere in between.  While the ultimate choice should be a personal one that has been carefully weighed against one’s own standards and priorities, there are a number of factors—as well as opinions— that might serve to help those who are ready to take that first step. Here, we will explore the kinds of options and expectations you should be keeping in mind when selecting a place to ‘hang your license.’

What’s a Broker For?

There are a few things about brokers you’ll need to understand before we go any further into the wonders of the real estate world. ; Real estate sales people, alias, agents, can only sell real estate if and when their license is placed with a licensed broker. Just because someone has taken the required courses, paid the fees, and passed the exam, does not mean that the individual can cavort around and start selling houses.  Anyone who is already working in the real estate industry knows what a mess that would be!

A broker serves as the party that answers for his agent’s actions. Whatever you as an agent do, can have an impact upon your broker. Needless to say, brokers assume much responsibility for those otherwise “independent contractors” that agents are classified as (at least by the IRS). Clearly, brokers must exercise, out of necessity, extreme caution when considering new agents into the office or firm. Let's concentrate on what kinds of things you’ll want to think about when interviewing brokers.

While our Course and Membership Site is more informative, here is a list of questions you should ask potential brokers when you interview them:

1. What kind of training do you provide (always the most important question)

2. What kind of advertising do you do (to support floor time....do they have floor?)

3. Do you accept part-time agents? (if that's what you're interested in)

4. Can you tell me how many Top Producers work for you?

5. How long has your average agent been with you? The longest agent?

6. What kind of office, clerical, or promotional support do you provide?

7. How much technology do you use and provide to agents?

8. Do you have a company website? Do I get my own page?

9. What is the commission split and how does it change with production?

10. Does the commission split revert back to the beginning each year?

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