7 Steps to Choose the Right Brokerage for You
As a real estate agent, choosing the right brokerage can make all the difference. You want to find a brokerage that matches your values, supports you and helps you grow. With so many options out there, it’s hard to choose. This post will walk you through 7 steps to choose the right brokerage. Plus, we’ll show you why REAL Broker, LLC is an excellent choice for many agents.
Choosing the right brokerage is a big decision for agents. With so many to choose from, it’s tough to decide which one is best for you. This post will help you choose a brokerage that matches your goals and values.
📌 Step 1: Know What You Need
Start by thinking about your career goals and what you need from a brokerage to achieve them. Do you need mentorship, training programs or the ability to work on your own? Do you want a brokerage with a strong online presence or a traditional office? Make a list of your requirements to help you search. Knowing what you need will help you focus and find the right one.
Know your short-term and long-term goals, including your income, work-life balance and career advancement opportunities. What kind of support and resources do you need to achieve those goals, training, mentorship and technology?
📌 Step 2: Research Brokerage Models
Research is everything when choosing a brokerage. Look for brokerages that match your goals and values. Check their website, social media and online reviews to get a feel for their company culture and reputation.
There are many brokerage models, each with pros and cons. Here are some:
Traditional Brokerages: Larger and established, in-person resources, physical office space and a structured environment.
Virtual Brokerages: Like REAL Broker, these are online only, flexibility and advanced technology with lower overhead.
Boutique Brokerages: Smaller, specialized firms that may focus on specific markets, like joining a larger team at another company.
Get to know each model and decide which one fits you best.
📌 Step 3: Compare Commission Structures
Commission structures vary from brokerage to brokerage. Some brokerages offer a flat fee, while others offer a percentage-based commission. Consider what type of commission structure works best for you and your business.
Commission splits and fees matter. A commission split is the percentage of the total commission paid to the brokerage and the agent for a real estate transaction. The split can vary from brokerage to brokerage, some 50/50, others 70/30 or 80/20.
Different brokerages offer different commission structures:
Fixed Percentage Splits: A set percentage of each commission goes to the brokerage, the rest to the agent.
100% Commission: Agents pay a percentage of their commission to the brokerage until they hit a cap, then they keep 100% of their commission minus small fees.
Sliding Scale Splits: The percentage goes to the brokerage decreases as the agent’s sales volume increases.
Which commission structure fits your financial goals and business plan.
Knowing commission splits is key to your success as a real estate agent. By knowing the different types of commission splits, how they work and what to expect you can negotiate better and increase your earnings.
📌 Step 4: Check Training and Support
Training and support from a brokerage can make a big difference in your career. When researching brokerages consider:
Mentorship: Do they have experienced agents you can work with?
Training Programs: Are there training programs for marketing, negotiation and market trends?
Technology and Tools: Do they have state of the art technology for you and your clients?
Choose a brokerage that has the resources and support for your business.
📌 Step 5: Check Company Culture
According to a Glassdoor report, company culture is the number one factor real estate agents consider when choosing a brokerage. Company culture is key to job satisfaction and career growth. Consider:
Core Values: Do the brokerage’s values match yours? Are they about collaboration, growth or innovation?
Agent Community: Is there a sense of community among agents? Do they help and support each other?
Brokerage Leadership: Are the leaders approachable and supportive?
Choose a brokerage with a culture that fits you and a positive work environment.
📌 Step 6: Other Income Streams
Many brokerages offer other income streams, like free stock or revenue share for bringing in new business. This can add up over time. For example, Keller Williams has profit share, REAL Broker has up to $4,000 per year for each agent you bring in, plus revenue share down five tiers. REAL also awards free stock for capping or becoming an “Elite Agent” with $24,000 in free stock per year.
📌 Step 7: Talk to Other Agents
Finally, talk to agents who are currently or have been with the brokerages you’re considering. They can give you the inside scoop on the work environment, support systems and growth opportunities.
By following these steps you’ll be well on your way to finding the right brokerage for your real estate career. Remember choosing the right brokerage is a big decision that can make a big impact. Take your time and research carefully.
📌 My Choice of Brokerages
When evaluating these criteria, I chose to join REAL Broker. Their cloud based model allows me to work from home and have all the tools and community support at my fingertips. This has saved me so much time. REAL’s training is top notch with hundreds of online courses and 20-30 live training sessions a week. Plus their other income streams like revenue share help during slow market times. I get about $60,000 a year in passive income from revenue share which supplements my business.
REAL has some of the best technology for agents and clients and is always innovating in this space. If you want to learn more about REAL Broker I’d love to schedule a 1-on-1 video call to see if it’s a good fit for you. Choose a date and time below.
National Association of Realtors. (2022). 2022 Realtor Survey.
Real Trends. (2022). 2022 Real Estate Commission Report.
Real Estate Training Institute. (2022). 2022 Real Estate Agent Survey.
Glassdoor. (2022). Best Real Estate Brokerages to Work For.
