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Why did you choose your (most recent) affiliation with your broker? I am a broker in Florida and I'm curious why agents ultimately choose the broker they hang with. I appreciate your feedback.
Last edited by ntfeldman; 07-22-2007 at 10:26 PM..
Reason: add info.
I think it's really tough to decide who to go to work for. So many choices (at least in larger towns, anyway). It can seem like there's very little that sets one brokerage apart from another. There can be the name recognition factor, but most of the national companies do not have very favorable splits. And after working for one early in my career I discovered the company was pretty much "in the business of recruiting agents" and then making money off them, not only on the splits, but also on training and Internet "programs" that are of very limited value, but cost the agent lots of money.
And that seems to be the business model for most large companies - hire as many agents as possible, regardless of whether newbie, good agent or bad. Obviously most companies make their biggest $$$ off the newer agents that are at the lowest split.
I do know agents that are constantly changing companies, looking for better splits, etc. I think most companies come out fairly close on the splits - they just structure it differently, but even the 100% guys usually have enough fees, etc per transaction, that it comes out about the same as other firms.
The company I switched to earlier this year I just LOVE for these reasons:
1) They don't hire anybody and everybody. They only hire agents with a high degree of professionalism that are a good "fit" for their company and philosophy.
2) The broker is fantastic! Always looking for ways to help the agents succeed, with marketing tools, training sessions, one-on-one coaching, etc. All this is FREE!
3) Everybody "shares" with everybody else when it comes to advice, helpful tips that have worked for them, etc. Not too many have the "it's my secret, and I'm not sharing" attitude.
4) GREAT Internet presence and all sorts of web tools.
5) Competitive splits.
6) Upscale office and conference rooms.
7) Inexpensive office space for agents.
8) Professional, classy operation that's a step above the competition.
Bottom line - I think this company is doing it right. While the competition has been losing ground in this slow market, this company has actually increased sales and also market share.
Location: Moved to town. Miss 'my' woods and critters.
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Good question. My husband and I had a negative experience when we put our licenses with another company after we closed our office. Broker appeared friendly, professional. and ready to assist. Turned out we had made a very bad decision. None of the above was true.
We have been with our present broker for many years and it has been a wonderful experience. Similar to the previous post by Gretchen B, our broker provides a great number of benefits that appeal to us. At our weekly meetings so many issues can be brought to the table and we all do our best to assist each other. No back stabbing or negative vibes, ever. Open, friendly, quick to give advice, moral support, one on one or as a group.
When my husband recently retired you would have thought that he was one of their top producers! Had surprise party and all the trimmings for him. It was super. Of course we operate in a small area so things are not as they would be in a large metro city.
But openness and friendliness are important attributes to us besides all of the material benefits. We are second in our market share and have 4 agents within the top 20.
This is a rural area with way too many offices and agents Some should never have gotten their license and some brokers should find another business. That is not meant to be 'catty' just the facts that we have noticed within the past couple of years. And on the other side many are great to work with and are ready to have you show their listings.
I've been an agent for two years. I chose the brokerage I'm with because they see the agents as more than just dollars. They are upfront about all of the fees, they offer relevant training, and they strongly encourage fairness and good business practice.
The brokerage I orginally hung my license with took full advantage of new agents. Our splits were repulsive, they had tons of hidden fees, the environment was very cut-throat, new agents were suckered in to buying VERY expensive products while experienced agents got the same items for free, and they encouraged new agents to be flunkies for experienced agents by calling it "mentoring".
Selling agent.
I have no idea who the "broker" was.
1. She lived 4 blocks from our house. Important when you wind up having 26 open houses and 63 showings.
2. She worked for Fuller Sothebys (didn't care about FS, just knew it was huge)
3. She had been a friend for 25+ years.
4. Smart. No bull$hit.
Remind me never to try and sell into a buyers' market again.
I watched her activity (and other brokers') for the past year before we sold our house. She had the majority of signage, did personal advertising, and appeared to have sold many houses. as evidenced by newspaper advertising. She obviously dominated the market in which we lived.
She was great in every respect and a complete professional. Sold the house in 10 days.
I'm not sure if your question is to sellers or agents. As a seller, I am choosing an agent based on how well she knows the homes in my area. I mean, in addition to the other normal stuff like professionalism, attention to detail, etc. I want someone who is knowledgeable about what people are looking for in this specific area.
I'm not sure if your question is to sellers or agents. As a seller, I am choosing an agent based on how well she knows the homes in my area. I mean, in addition to the other normal stuff like professionalism, attention to detail, etc. I want someone who is knowledgeable about what people are looking for in this specific area.
The OP's question was to agents, and was asking why they affiliated with the broker and brokerage where they decided to work.
It was posted in this forum, 6 years ago, at a time when there was no separate Real Estate Professionals forum for these agent to agent discussions.
But, your criteria for a listing agent are good, too.
Our broker was recommended to us by the sales guy when we chose where we were going to build. She, the broker, is part of Move Up America, this is giving us a rebate to use toward closing costs. It worked wonderfully - she is AWESOME & took care of everything flawlessly. I couldn't be more happy with her!
The OP's question was to agents, and was asking why they affiliated with the broker and brokerage where they decided to work.
It was posted in this forum, 6 years ago, at a time when there was no separate Real Estate Professionals forum for these agent to agent discussions.
But, your criteria for a listing agent are good, too.
This. The poll is for agents and why they affiliated with the broker that they most recently did.
In my case, it was because the whole package, the business model, the training, the interaction with the other agents in the firm, resonated with me on a deep level. Agents are perceived as specialists and receive all the support they need to do an outstanding job for the firm clients, and are not expected to be everything from negotiations expert to courier. The clients of the firm therefore get a team of specialists at every level rather than a jack of all trades, and I love that.
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Some should never have gotten their license and some brokers should find another business. That is not meant to be 'catty' just the facts that we have noticed within the past couple of years. And on the other side many are great to work with and are ready to have you show their listings.
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