EIBIK.COM

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    How Can I Prove Liability if I’m Hit by a Drunk Driver?

    2nd June 2023

    The Benefits Of Engaging An Experienced Electrician In Sydney

    1st June 2023

    Six Tips to Help Seniors Adjust to Lifestyle Changes

    30th May 2023
    Facebook Twitter Instagram
    EIBIK.COMEIBIK.COM
    • Home
    • News
      • Finance
      • Current Affairs
    • Travel
    • Biography
      • Writer
      • Athlete
      • Politician
      • Scholar
      • People
    • Sports
      • Game
    • Technology
      • Electric & Electronic
    • List Your Business
    • Contact us
    • Write for us
    EIBIK.COM
    Home » How to Choose a Real Estate Agents

    How to Choose a Real Estate Agents

    EIBIKBy EIBIK8th November 2021Updated:17th November 2021 Home and Garden 4 Mins Read
    top rated real estate agents
    Share
    Facebook Twitter LinkedIn Pinterest Email

    As a new real estate licensee, the first step you’ll need to do is choose a real estate broker. The process of picking a broker can start early, as some states require that you be sponsored by a broker when you take your real estate exam. Don’t let the process of finding a real estate broker to work for intimidate you. We’ve put together some information to help you learn how to choose a real estate broker that’s right for you.

    How do you select the top rated real estate agents? Review the following five steps to learn how to choose a real estate broker.

    Table of Contents

    • Step 1: Ask about the commission split
    • Step 2: Evaluate the brokerage culture
    • Step 3: Decide between a franchise or independent brokerage
    • Step 4: Learn its reputation and niche

    Step 1: Ask about the commission split

    Most real estate agents get paid on commission. When you’re not selling, you’re not getting paid. But when you’re selling, you’re going to split the proceeds with your broker. Brokers offer different commission structures. (And some brokers offer salaried positions, but these are few and far between.) While factors like company culture, resources, market share, reputation, and support will also come into play, you’ll want to pick a brokerage that offers you a commission split you can live with—keeping in mind that commission splits often get better with experience and sales volume.

    Here’s how commission splits work: Let’s say you sell a $300,000 home and the average commission in your area is 6%. That 6% is first split between the buying and selling agent. Now you’re down to 3%, which works out to be $9,000. Next, you’re going to have to share that with your broker. If you’re on a 60/40 commission split, you’re taking home 60% of that $9,000, or $5,400. Of course, this is before expenses and taxes.

    What’s a good commission split? That depends on the business, your market, the broker’s support and resources, and a number of other factors. Just make sure you understand the split and how you might get a bigger percentage over time.

    Keep in mind that some brokerages these days are offering real estate agents a salary and benefits, or a hybrid model, so you might want to shop around if this approach to compensation appeals to you.

    Step 2: Evaluate the brokerage culture

    Before you choose a real estate broker, ask yourself: What kind of company do I want to work for? How much support do I want from my coworkers? Just like other businesses, real estate brokerages develop a company culture that informs the way they do business. Are you looking for a small, mom-and-pop brokerage with an intimate, family-like brokerage culture? Or would you prefer a big-box franchise brokerage that’s more likely to let you fend for yourself? Are you looking for weekly get-togethers and company caravans on open house day? The best ways to know and understand a company’s culture are to chat with agents who work there or attend a company function.

    Step 3: Decide between a franchise or independent brokerage

    When it’s time to choose a real estate broker, another big question to consider is whether you prefer to work for a franchise or independent brokerage. Big-name brokerage houses like RE/MAX or Keller Williams have offices all over the country. A mom-and-pop brokerage might have been serving a single community for generations. Franchises tend to exert more control over their agents than an independent firm, but they usually offer more support and training. Independent firms are usually locally based and consist of a small- to mid-size team. The benefit of working for an independent broker is that you have more freedom to conduct your business the way you want to.

    The National Association of REALTORS® reports that the majority of REALTORS® (53%) choose to work for independent firms. If you relish your independence and dislike corporate culture, an independent brokerage may be the way to go. The main advantages of a franchise are the many resources they offer in terms of information and marketing support—and the name recognition.

    Step 4: Learn its reputation and niche

    When you start your research, begin with a simple Google search as if you were a buyer. Search for “homes for sale in [community name]” and see who comes up. You want the brokerage you select to have a strong market presence and a quality reputation. If they have a high market share, you can depend on them to help you find leads. And we all know how important a brokerage’s reputation is.

    Just as important is the niche your brokerage is in. Studies show that the right brokerage can triple your income. The right niche for you will probably be a combination of your interests, lifestyle and the opportunities available in your area.

    Keep Reading

    Questions To Ask Before Hiring A Roofing Contractor

    Stamped Concrete Pros and Cons

    How To Make A Wooden Door

    What Are The Benefits of Installing Automatic Doors?

    Effective Pressure Washing Ads: Tips And Examples For Marketing Your Business

    The Benefits Of Modern Outdoor Lighting: Enhancing Safety And Security

    Top Posts

    How Can I Prove Liability if I’m Hit by a Drunk Driver?

    2nd June 2023

    Top 20 Best Family Resorts in Cancun all inclusive

    8th September 2020

    Top Best Chest Rigs

    8th September 2020

    Best Trail Camera Under 100

    8th September 2020
    Don't Miss

    Stamped Concrete Pros and Cons

    Home and Garden 5th May 2023

    Setting up a family-friendly chill spot in the backyard can be stressful, with innovation that…

    Basketball Legends Unblocked | An Ultimate Guide

    24th January 2022

    The Evolution of Cryptocurrency – Changes in the Use of Cryptocurrency

    3rd February 2023

    Why Do People Eat at Italian Restaurants?

    13th December 2021
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Editors Picks

    Benefits Of Hiring A Professional Plumber

    26th September 2022

    Fluke 179 Digital Multimeter

    21st April 2021

    6 Effective Benefits of Skin Polisher for Human Skin

    16th November 2021

    Why Would Your Business Need An Outsourcing Paraplanning Service?

    16th December 2022
    Latest Posts

    All The Stock Market Indices Basics You Never Knew

    10th February 2022

    Is It Cheaper To Get A Mortgage Through A Broker?

    10th April 2022

    Increase The Surveillance of Your Place by Installing Advanced CCTV

    3rd December 2021
    Advertisement
    © 2023
    • About us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.