As a licensed real estate salesperson, you have to “hang your license” at a brokerage which just means that you work for one broker and one broker only. Your brokerage will be who you are essentially partnering with in your business (kind of). You will have their logo next to yours, you will split your commission with them, and they will help you through transactions.

You are your boss in real estate, but your broker is the one who you can go to with those big questions on legality, efficacy, all that. And your brokerage is a big support system that can be full of training, technology, support, client leads, and other components that will help you build and maintain your business.

It is so important that you take full advantage of the opportunity at hand: they WANT you to work with them because it is a huge advantage to have you at the company. Brokerages get power in the community/local board by the number of agents they have. More agents equals more say in the landscape of real estate in their market. They also make money every time you sell something! In a broker’s mind, agents are always in high demand.

We highly encourage interviewing brokerages in your market to see who would be a good fit for you and your goals. Walk in knowing that you really are interviewing them. Ask them questions, find out how they will help you. When you leave, let them know you are interviewing others and you will let them know what you decide. It is always OK to switch brokerages if something isn’t working out, but set yourself up for success by finding out as much as you can before signing on.

Here are 6 things to consider when choosing a brokerage:

1. The Overall Vibe: You can probably get a sense for a place pretty soon, and Unicorn Agents always trust their instincts. Make sure to listen to what you’re feeling when you’re meeting with the people and hearing about their mission and what they offer. What they’re saying should excite you, not make rethink everything you naturally believe in.
2. Agent Fees + Commission Splits: No matter where you go, you will have either fees or commission splits. The brokerage/agent relationship is a reciprocal one. They help you, you pay them. This is why we always stress not being worried to ask for help from your broker or managers at the brokerage. You are giving them money, therefore, they are working for you. Make ’em earn it 🙂 Make sure you fully understand how the splits work (something like 75/25, 80/20, etc.), and what you receive from paying any monthly agent fees. Most brokerage splits are bigger in the beginning and become less the more you sell. Some brokerages make agents pay monthly fees for everything from technology to desk fees, and others are agent-centric with no monthly agent fees. Ask them what things cost and what you receive from them to make sure the money part fits with what you need and what you want to give.
3. Lead Generation Assistance: There are different types of lead generation that brokerages offer. Some have websites all agents are a part of that will have online leads randomly assigned, some coordinate monthly schedules of phone/desk duty that awards leads to agents who man the office or phone for prospective clients who come to the brokerage to start their search. Make sure to talk to your prospective brokers to see how they help you get clients. Do they only offer lead generation to agents who have sold a certain amount? That’s fine, that’s their choice. Just make sure you let them know you will be one of those agents (if you want to be!) so they need to tell you exactly how to get on that exclusive referral list!
4. Communication: It is very important to have a broker who is transparent and available. You’ll want to work with a brokerage where they have a designated person or designated people you can contact when you have a question – no matter how big or small. You need to feel comfortable to go to them when you need them and they need to be easily available and open to help. Express to them that this is important to you and have them tell you how they stack up.
5. Technology + Perks: Brokerages differ in the amount of technology and perks they offer. See what they say about professional printing services (you’ll be printing many things if you’re working by connection!), office space, website technology, marketing help, free snacks and drinks for you and for clients – all the cool stuff. Many brokerages are competing for agents so many are stepping up their perks game. If that’s important to you, make sure you “shop” around.
6. Size/Number of Agents: The size of a brokerage can play a huge part in culture. If you prefer a close-knit community of agents, check out smaller brokerages. These will have more of a collaborative vibe than a larger brokerage where it’s often a more “dog eat dog” vibe without a lot of collaboration and agents-helping-agents help. A lot of good can come out of having good relationships with other agents so we always recommend community over competition! Ask about the size and the company culture to see if it’s right for your goals.

We hope this information helps you find the brokerage of your dreams. And if you are currently with a broker you’re just not vibin’ with, never be afraid to make the move!

As always, if you have any comments, questions, or feedback, please reach out to us at hello@unicornagents.com. We love engaging with the Unicorn Agent community!