In its 2016 Member Profile, the National Association of REALTORS (NAR) reported that that the median tenure agents work with a brokerage firm is three years. Translation? Agents change office at least three times within a 10-year period of time.
Obviously, there are many reasons to change brokerage firms just there are many reasons to change professionals and/or home locations. Some of those reasons to change brokerage firms may include wanting a better commission split, a better “fit” with the people in the firm, a disagreement with the broker/owner, a better fit with the firm’s overall culture, a better, more consistent focus on a particular geographic market area, etc.
Whatever the reason for wanting to change brokerage firms, Jay Kinder of Kinder Reese, a coaching service specific for real estate teams, offers agents these tips when evaluating their next brokerage firm:
- Take a good look at the firm’s “culture.”
- According to NAR, 95% of agents believe that the culture of the brokerage firm is more important than the firm’s compensation package.
- Do you want a firm culture on the cutting edge of systems and real estate tech?
- Do you want a firm culture that is proactive rather than reactive to market conditions?
- Do you want a firm that has weathered and sustained itself in every market condition?
- Do you want a firm composed of young and coming agents or a firm composed of seasoned professionals or do you want a mix>
- Do you want a firm that provides training and mentorship opportunities or a firm that provides great but laissez faire leadership?
- Take a good look at the brokerage firm’s leadership who set the tone of the firm on a daily basis.
- Look beyond the CEO, the vice presidents and the regional managers…talk with the marketing team, the tech team…talk with EVERYONE.
- Look carefully at the firm’s reputation.
- Look carefully at the firm’s presence in the local area…is its presence in name only or is the firm a team player within the community?
- Look carefully to determine whether or not the firm is ahead/behind market shifts and tech trends.
- Look carefully to determine whether or not the firm embraces a spirit of coordination to avoid imbalances.
- Take a good look at the firm’s support systems.
- Make certain that the firm’s support systems can/do support you and your goals.
- Make certain that your choice of firm is based upon what is 100% best for you.
- Know the kinds of support services that best support you goals.
- Is there ongoing professional development?
- Do the marketing tools offered by the firm support your goals?
- Does the firm’s support embrace your lead generation efforts?
- Do the firm’s vendors support your needs and the needs of your clients?
Bottom line here…take nothing and no one for granted in your process of choosing a different brokerage firm. Do your research, do your due diligence and do see yourself as the asset to any firm that you are.