As a real estate agent, finding the perfect brokerage can make all the difference in your career. It’s crucial to choose a brokerage that aligns with your values, offers the right support, and helps you grow professionally. With so many options available, making the right choice can be daunting. But don’t worry – we’re here to help! In this article, we’ll walk you through six essential steps to choose the right brokerage for you. And, of course, we’ll highlight why REAL Broker, LLC is an outstanding choice for many agents.

Step 1: Assess Your Needs and Goals

Start by taking a good look at your career goals and what you need from a brokerage to achieve them. Do you need mentorship, comprehensive training programs, or the freedom to work independently? Are you looking for a brokerage with a strong online focus or do you prefer a brick-and-mortar brokerage? Make a list of your priorities to guide your search. Understanding your needs and goals will help you narrow down your options and find the best match.

Step 2: Research Brokerage Models

There are several brokerage models available, each with its pros and cons. Some of the most common models include:

Traditional brokerages: Typically larger and well-established, these brokerages offer in-person resources. They often have a physical office space and a more structured environment.
Virtual brokerages: These brokerages, like REAL Broker, operate primarily online, providing agents with flexibility and a technologically advanced platform to work from. They usually offer lower overhead costs and a more modern approach to marketing.
Boutique brokerages: These are typically smaller “mom-and-pop” brokerages that specialize in one specific market. Joining one of these brokerages may be equivalent to joining a larger team at one of the other companies.

Familiarize yourself with each model and determine which one aligns best with your needs and goals.

Step 3: Compare Commission Structures

Commission splits and fees play a significant role in your earnings as a real estate agent. Different brokerages offer various commission structures, so it’s essential to compare them before making a decision. Some common commission structures include:

Fixed percentage splits: A predetermined percentage of each commission is paid to the brokerage, while the agent retains the remainder. This split varies by brokerage, and sometimes by an agent’s experience level.
100% commission: Agents pay a percentage of their commission to the brokerage until they reach a certain limit which is known as their “cap”. After that, they keep 100% of their commission, minus a few small fees.
Sliding scale splits: As an agent’s sales volume increases, the percentage paid to the brokerage decreases, allowing agents to keep a larger share of their commissions.

Consider which commission structure best suits your financial goals and business plan.

Step 4: Evaluate Training and Support

A brokerage’s training and support offerings can significantly impact your career growth. When evaluating brokerages, consider the following aspects:

Mentorship: Does the brokerage provide access to experienced agents who can guide you through the learning process?
Training programs: Are there comprehensive training programs available, covering topics such as marketing, negotiation, and market trends?
Technology and tools: Does the brokerage offer state-of-the-art technology for you and your clients to use?

Choose a brokerage that provides the resources and support you need in your business.

Step 5: Analyze Company Culture

The company culture of a brokerage can play a significant role in your job satisfaction and professional growth. Consider the following when assessing a brokerage’s culture:

Core values: Do the brokerage’s values align with your own? Are they focused on collaboration, growth, or innovation?
Agent community: Is there a strong sense of community among agents? Do they support and help each other?
Brokerage leadership: Are the brokerage’s leaders accessible and supportive?

Select a brokerage with a company culture that resonates with you and fosters a positive work environment.

Step 6: Additional Streams Of Income

Many brokerages today also offer their real estate agents additional streams of income in their businesses. This is primarily in the form of free stocks in the company or revenue share for helping the company grow. For many agents, this additional stream of income can become pretty significant over time and may even surprise the commissions you earn.

For example, Keller Williams first pioneered what they call “profit share” where they will give you a small portion of your brokerage’s profit if you help recruit real estate agents to the company.

Companies like REAL Broker have expanded on this concept and offer their agents up to $4,000 a year for any agent they directly bring into the company for as long as that agent is with them. And this “revenue share” actually goes down 5 tiers, so if that agent brings in an agent you receive revenue share on them as well, going down 5 tiers.

REAL also gives their agents free stock in the company by hitting certain milestones in their businesses each year such as capping or hitting “Elite Agent” for which REAL gives them $24,000 in free stock each year.

Step 7: Talk to Other Agents

Lastly, speak with agents who are currently or have previously worked with the brokerages you’re considering. They can provide valuable insights into the brokerage’s work environment, support systems, and growth opportunities.

By following these six steps, you’ll be well on your way to finding the perfect brokerage for your real estate career. Remember, choosing the right brokerage is an essential decision that can significantly impact your success, so take the time to research and evaluate your options carefully.

With your research and evaluations complete, it’s time to make a decision and join a brokerage that aligns with your goals and priorities. Don’t be afraid to ask questions and take your time – finding the right fit is crucial for your long-term success in the real estate industry.

Once you’ve selected a brokerage, focus on building relationships with your fellow agents, participating in training programs, and making the most of the resources and support available to you. As you gain experience and develop your skills, you’ll be well on your way to a successful and fulfilling career in real estate.

As a final note, remember that your needs may change as your career progresses, and it’s essential to continually reassess your goals and priorities. Regularly evaluate your current brokerage and its offerings to ensure that it continues to be the best fit for your evolving career.

My Choice Of Brokerages

When evaluating all of these criteria, personally I chose to join REAL Broker.

Their cloud-based model allows me to work from home and still have access to all the tools and community they provide. Not having to drive into a physical office in order to receive training, network or ask questions has saved me a lot of time in my business and life.

Their training, in my opinion, is some of the best in the industry, and have access to hundreds of online courses provided by top agents from around the country. REAL also provides 20-30 live training sessions a week I can join in on and interact with other agents.

I also find REAL’s additional streams of income to be very helpful in my own business. As of this article, I receive about $60,000 in passive income in the form of revenue share every year. This income helps by business during slow times in the market and means I don’t have to sell as many homes as I would without it.

REAL also provides it’s agents with some of the best technology for them and their clients in the industry and is constantly innovating in this space.

Want to learn more about REAL Broker? Pick a date and time below to set up a 1-on-1 video call with my self to see if it would be a good fit for you.

How to Choose the Right Brokerage for You in 6 Steps