Look before you move
Which Brokerage is Right for You?


BY MARIWYN EVANS

While there’s no one correct answer to this all-important question, affiliating with a broker that matches your goals and work style have a huge impact on your productivity and your psychological well being. Use these questions to help you find the perfect match for you.

1. What’s the average sales volume of associates?
2. What’s the turnover rate among associates (especially experienced ones)?
3. What are the options for commission splits/how much flexibility do you offer?
4. Are there sales quotas, and if so what are they?
5. What costs are included in desk costs and which are charged separately?
6. How are charges owed the broker deducted? From commissions when received? paid once a month?
7. What is the company’s market share? How has that share changed over the last three years?
8. Are there particular niches or geographic areas that the company specializes in?
9. What types of corporate advertising does the company do and what is the response rate from the ads?
10. How profitable is the brokerage company? What has the net return been over the last three years?
11. Is the brokerage company run in a business-like manner, with set policies and systems that ensure smooth operations?
12. What are the owner’s growth strategies for the business? Expansion? Franchise affiliation? Merger?
13. If the owner is over 55, what are the succession plans for the business?
14. What’s the culture of the office? Friendly and low-key? Very aggressive and motivated? And how does that fit in with the type of work environment you want?
15. How much hands-on support and training does the office provide?
16. What’s the company’s reputation? Has it had any complaints filed against it in the last five years with the real estate commission or better business bureau? Ask other agents what they think of the company?
17. Does the company have good name recognition in the market? Test this yourself by asking 10 of your non-real-estate friends if they’re familiar with the company.
18. Do you personally like and respect the managing broker? If not, don’t kid yourself that you’ll be able to work with him or her.
19. Does the company offer ancillary services that will help you be more productive? Transactions coordinators, office support? If so, what are you charged for these services.
20. Does the office’s technology profile fit with your own? If you’re high-tech, choose and office that is, too, and vice versa.

Why I Chose My Current Broker
Sales associates who recently made the switch or who’ve found a good place and stuck with it share their ideas on what’s most important in this critical decision.

A smaller, independent broker was able to implement changes faster, pay commissions on the day of settlement, and keep overhead low. Plus, the broker’s a friend, not an enforcer.
--Steve Jacobson, CRB, CRS, Brian Logan Real Estate, Washington, D.C.

A company that’s considering opening a new office in the future provides an opportunity for growth, a sense of a start-up with the security of a market share.
--Pat Hyland, Flemming Realty, New Platz, N.Y.

A bigger office offers more opportunity once you’re established. I didn’t want to the “big fish” in the small pond; I’d rather be a little fish and still have room to grow and achieve.
--Joan Cox, GRI, CRS, Metro Brokers, Priority Properties, Englewood, Colo.

A broker with sales experience and a respect for what it takes to succeed in sales, along with a fierce adherence to the NAR Code of Ethics and a commitment to superior service.
--Vickie Flowe, Newport Properties at Lake Norman, Mooresville, N.C.

The lure of the chance to make more money and to run my own business with limited management interference. Getting past the difficult decision to “upset” a comfortable position was the hardest part of making the change.
--Rayelynn Fagot,-Canzoneri, ABR, CRS, Metrosell Team New Orleans, RE/MAX Real Estate Partners, Metairie, La.

A broker who really took the time to answer my TON of questions and really talked to me about the business.
--Susan Crawford, Coldwell Banker Howard Perry & Walston, Durham, N.C.

Access to an attorney for legal advice (free of charge) plus leading edge technologies give me the tools to serve my clients better.
--Kimberly Lester, John L. Scott REALTOR , Issaquah, Wash.

Honest and integrity about how the business works. In my 26 years with the company, I’ve seen my broker lose agents to other companies that promised them a rose garden. Sometimes those agents returned when they found out that their garden had more thorns than ours did.
--Liz Francis, Century 21 North Homes, Puget Sound, Wash.

Be a part of the decision-making process that shapes our office. I’m treated as a partner.
--Roy Chambers, Keller Williams Realty, Everett

A broker who has a sense of humor and knows how to have fun as well as provide support. She’s adamant that we have balance in our lives and helps us see everything in perspective. You’ve go to love someone who’ll jump in the water to help paddle our entry into the local charity race—a floating castle made of milk cartons—to victory.
--Sally Thompson, John L. Scott REALTOR , North Seattle, Wash.

Ten Reasons I Chose My Brokerage
(Not necessarily in order of priority)

1. The reputation of the company’s agents in the transactions I was involved in.
2. Owners/brokers who were smart businesspeople with several well-managed offices.
3. Geographic proximity to my home
4. Company’s standing among other real estate offices in the area. I wanted to be around other successful agents to inspire myself to reach the next level.
5. Professional office facilities with private offices but enough agents to keep overhead costs down.
6. A company commitment to education.
7. An experienced office manager who could answer questions when needed.
8. A skilled office staff to assist clients and agents.
9. Autonomy—I really feel like I run my own business.
10. Great name recognition—both from the franchise and the company.
---Mary Zentz, RE/MAX Suburban, Arlington Heights, Ill.

Why They Left.
Too high an overhead
Too much bureaucracy and company control
Too small a share of the commission
Too many meetings
Too many transaction fees and unnecessary charges