What company should I join?
Only you can answer that. You have to pick what feels right to you. Here are a few things to consider
What is my split? What is the program for increasing my split? Yes a generous split is nice but do not let that be the only thing you consider. You do want to look at the schedule to increase your split. A split that has an annual cap allows you to have a blow out year and keep more of your commission. Remember there are other hidden fees so make sure you understand all the costs.
Training? As someone new to the market training is imperative. You want a company that will offer training and train you one on one. You want other agents on the team that will let you “tag along” to see how they work. Often the stronger agents will refer clients they cannot manage to newer agents in the office that they see as hard workers.
How Big is too big? The Big brands spend a LOT of time and money recruiting new agents. You can very quickly become a number instead of a name. They offer internet leads, and working with high producing agents etc as incentives. But let the buyer beware. Top agents in BIG companies do not always like to share and internet or cold leads are VERY few and far between and often hard to convert. It is recommended you talk to both small and large companies and not to get to distracts by the smoke and mirrors either may offer. Our recommendation is smaller is better but you will have to decide what works for you.
What about a boutique or an independent? In the past few years there has been a corporation movement that has lead to a DRASTIC increase in independent brokerages. Technology has made it more feasible for smaller firms to compete head to head with the big brands in many instances.
Take time to interview a few active agents for the firm. Simply ask for a list of agents and pick one or two yourself. Ask around for the names of people who left, then call a couple agents who left the firm and ask why. Talking to other agents at length about the broker’s availability, the real value of the training provided and the true culture of an office and the people who work there can mean everything. Is it Dog eat Dog highly competitive or is it a place to be nourished and thrive?