October 24, 2018

“By wisdom a house is built,
    and by understanding it is established.”

King Solomon (Proverbs 24:3)

Setting Your Course

It is likely if you are a new or aspiring Real Estate Agent that you’ve had someone in your life encourage you to pursue this career goal.  One of the people that may be encouraging you to get into the business may be an actual Real Estate Broker.  Now, there are lots of reasons people you know who are Brokers might want to encourage you to get into the business.  Something you need to understand going in is that your Broker can literally make or break you in this business.  Choosing the right people to work with can either paralyze you or propel you, so understand that this is a very important decision as you set your course for the future.

Character Traits of a Good Broker

Today I’m going to offer you 4 character traits to be looking for as you choose the Brokerage you are going to interview for.   Take this advice to heart.  It is critical to the course your business takes during your first two years.  Remember to ask these questions when you go in for your interview.

  • Trait #1 – Training/Coaching.  Beyond the Licensing Test is the actual training and coaching that you are going to need to actually learn the “How” of the Real Estate Business.  A good Broker will have a good program of consistent and frequent training and coaching for the agents who hand their licenses on the wall at the brokerage.  When you go to your interview with a potential broker, ask them, “What kind of training/coaching do you offer your agents on a regular basis to make sure that they can succeed?”
  • Trait #2 – Accessible.  Too many Brokers hire people just so they can have another agent on their roster.  Trust me, you don’t just want to be another agent on some Broker’s roster.  Ask the Broker how accessible will he or she be if and when you need them.  Will they answer your phone calls?  Will they be there for you if you need them?  What do they see as their responsibility to you as their Broker?  The answers to these questions will tell you a lot about how committed that Broker is to your success.
  • Trait #3 – Productive.  Ask them for some hard numbers.  How much Gross Commission have they personally done this year or last?  How many years in the business do they have?  How are they growing as a leader in their knowledge and experience as the Broker over the office they run?  Are they a productive team?  Are they successful?  You want to run with people who see the importance of maintaining a culture of excellence.  You want to run with people who are doing the kind of business you eventually want for yourself.
  • Trait #4 – Systematic.  What systems do they have in place that will help you learn how to better organize and run your business?  What kind of back office help do you have?  Is there office space, copy machine access, unlimited office use or do you have to pay extra for the use of their services?  Do they promote or teach some kind of a selling system that gives you a roadmap so you can know how to get from where you are to where you want to be?  Do they have open houses, cold call lists, or company generated leads available for you to work as you begin?  Make sure they have a solid system in place to help you get where you want to be or you may find yourself struggling to survive your first few months in the business.

Interview your Broker

You are now in the world of self-employment.  Instead of them interviewing you, you get to be the interviewer.  Show up prepared.  Realize you don’t have to work for the first person you talk with.  And definitely take your time on the front end.  You get to decide how much you’ll make, who you will work alongside, and how your business will be perceived by the public at large.  Take all these things into account before you sign up with a Brokerage.  It’ll be worth the time you took to figure out where you need to be on the front end.

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