Find a Real Estate Broker to Work For

Whether you are a recently-licensed real estate agent or a seasoned professional looking for new opportunities, working for a real estate broker can expose you to a large client base and help you succeed in your real estate career. Most cities and communities have a large number of nationally recognized brokers and locally managed real estate companies. Find a real estate broker to work for by researching your options and talking to different companies before choosing one that offers you the opportunities you need to advance your career.

Steps

Researching a Real Estate Broker's Reputation

  1. Obtain a full list of real estate brokers by conducting an online search or checking your local community directory. This will be the starting point from which you can narrow down your broker search.
    • Find out which ones are recruiting new agents by calling, stopping into the office or visiting their websites. In general, brokers are looking for new agents and will be excited to talk to you.[1]
  2. Research the real estate brokers in your area from a consumer perspective. Pay attention to the companies you would notice if you were looking for a broker as a seller or a buyer. It may be helpful to imagine you are from out of town and searching for a home.[2]
    • Pay attention to yard signs, advertisements, open houses and social media presence. Assess at the level of professionalism in each form of advertising.
    • Also drive by the brokerage's office. Make sure the office is conveniently located and has plenty of parking available for your clients. Check that the exterior is attractive enough that you would want to bring clients there.[3]
  3. Conduct an online search of different brokers in your area. A successful broker will have an attractive website, activity on sites such as Facebook and Twitter, and well written reviews and testimonials on sites such as Yelp.[2]
    • An online real estate listings site will help you determine which brokers in your area handle the most listings (and do the most business). An advantage of joining a larger brokerage, at least at the start of your career, is that you immediately gain the reputation and trustworthiness of the brokerage.[1]
  4. Talk to real estate agents in your area. Find out what the most desirable companies are, and why. If you completed your real estate education locally, you may also be able to ask the professionals at your school for broker recommendations.[2]
  5. Discuss different brokers with other professionals that deal with real estate agents. These can include mortgage lenders, appraisers, home inspectors, and attorneys, among others. If possible, get an idea of which brokers they prefer to work with.[2]
  6. Check out the National Association of Realtors. Their website contains resources for new agents as well as information and statistics on real estate brokers around the country. The US Department of Labor also offers advice on choosing a broker on their website.[2]

Researching a Real Estate Broker's Business Practices

  1. Schedule an interview with brokers you are interested in. Most brokers will jump at the chance to talk to a potential new agent. Call their local offices and schedule an interview to get started. Read the rest of this section first and have a mental (or physical) list of questions ready for your interviewer. Know what sort of answers to your questions you prefer.[1]
  2. Find out what mentoring programs, if any, are available with different brokers. If you are just starting out, you will benefit from a broker who helps you establish your career. A good mentor can give you area-specific tips that you won't learn in the licensing process.[2]
    • Look for training programs or seminars that are offered or encouraged. Some brokers will even help you pass your real estate exam for licensure if you sign on with them while you are training to be an agent.[1]
  3. Research how many agents are with each broker, how long they stay and what their experience levels and areas of expertise are. If many agents have been with a broker for long periods of time, it is a good sign that the broker treats their agents fairly. You can generally find this information on the broker's website.
  4. Ask brokers you might work for about what the scheduling expectations are. You might be required to put in a specific number of hours at the office or attending open houses and other events. Knowing what the broker expects will help you match your expectations and preferred working style with those of the broker. [1]
  5. Talk about commissions. Most brokers divide the commission 50-50 with their agents. You will also need to know which party pays for licensing, marketing materials and benefits such as health insurance. The amount of control a broker usually has over these things will often be similar to the amount of control they have over your selling process.[4]
  6. Determine how referrals and leads are handled. You will want to know if agents are assigned potential clients in a specific way, or if it will be up to you to bring in your own clients. Some brokers, especially larger ones, offer leads and other lead-generation services to agents. This can be invaluable if you are in a new area or are just starting out.[1]
  7. Assess the available technology. Some brokers require their agents to provide their own laptops, cell phones and other devices. Other brokers might provide computer access, copiers, fax machines and even iPads or tablets. Factor this in to the cost of getting started in your real estate career.[2]

Tips

  • Remember that most real estate agents, even when they are affiliated with a broker, are essentially self-employed. You will need to manage your own clients and schedule, and understand all of the requirements of any real estate transaction.
  • Look for brokers that are hiring by paying attention to job listings, advertisements and recruitment events that may happen at community colleges and other locations.
  • Generally, a broker that offers more services (training, office space, administrative assistance) will also seek to keep a higher percentage of commissions. Keep this tradeoff in mind when choosing a broker.[1]
  • If you feel as though you have chosen the wrong broker, move! You may lose some leads or listings that you have through the broker, but moving to a broker that better suits your needs is always the right move.[1]

Warnings

  • Check if the broker charges a transaction fee on top of the commission. If they do, be sure to inform your clients so that they are not surprised by it. In some cases, agents have to pay this fee if clients are unaware of it.[1]

Related Articles

Sources and Citations

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 http://investfourmore.com/2014/08/can-real-estate-agent-find-perfect-broker-work/
  2. ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 http://www.crestico.com/careers/starting-your-career/right-broker-to-work-for/
  3. ↑ https://www.kapre.com/resources/real-estate/choosing-the-right-real-estate-brokerage
  4. ↑ http://www.jobmonkey.com/realestatejobs/right-brokerage/
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