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Changing Real Estate Brokers – What Question Every Real Estate Agent Should Ask

Changing real estate brokers

Whether you are new to real estate or a seasoned PRO you are familiar with it. “It” is the inevitable change from one real estate broker to another. In my 10 years in the title industry in Phoenix I have seen countless real estate agents change from broker A to broker B or XYZ Realty to ABC Realty. Change is inevitable – especially in the real estate space.

People move around. Boom towns like Phoenix, Austin, Las Vegas, Miami and Los Angeles are a living breathing testament to this fact. Real estate agents move around too. A Lot. When I was a title rep it wasn’t unusual for a client to ask me what I have heard or if I have an opinion about [insert real estate brokerage]. In the housing boom of 2005 – 2006 it wasn’t uncommon to be asked 3 to 4 times a week!

I would always ask the agents: “what are you trying to achieve?” “What is your goal?” I always got 2 answers to these questions.

  1. [insert brokerage name] is going to give me leads
  2. [insert brokerage name] is less expensive

Real estate agents are not only business people but also consumers. Real estate brokers that want to not only recruit but retain their agents need to come up with a strong value proposition. The real estate space is exceptionally competitive – if there is a dog-eat-dog industry, real estate is it. When an agent considers switching from broker A to Broker B they will oftentimes compile a list of questions to ask the company/broker recruiting them. Those questions may center around

  • Cost
  • Support
  • Commission
  • Training
  • Culture
  • Retirement plan/pension/profit sharing
  • No franchise fee
  • Business Culture/Structure

While all of these questions are certainly relevant, there is one question that real estate agents should not only ask a broker but insist upon. This in my opinion is one of the most important questions a real estate agent can ask.

 

In the 2009 Profile of Home Buyers and Sellers, NAR – The National Association of Realtors –   included a graphic from the report that showed only 3% of buyers and sellers chose a real estate agent based on the real estate brokerage they were associated with.

  • Does this change your idea of the typical real estate brokerage?
  • Does it change your idea of that a real estate brokerage should provide?

It’s important to note that NO broker – NO National Brand, NO brand PERIOD is going to make you a successful real estate agent. You need to really want it – successful real estate agents make themselves. They take the tools they have learned and use them to carve out niches in their marketplace. It takes a lot of hard work to be a successful real estate agent – I believe the future of real estate is a paradigm “shift” from needing to know HOW to find business, to needing to know HOW TO have business find you.

What do you think?

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Stephen

Hi I'm Stephen Garner, I'm just a guy in the title industry {in Phoenix} trying to change how real estate agents market themselves and their services. To that end, I teach my clients HOW TO leverage sales technologies like WordPress, Content, Video, Camtasia, Final Cut X, iMovie and indexable IDX solutions to convey value and help your ideal client find you online when they are most interested in learning about you and your services. I work for escrows. Hire me!

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