It happened again. Excuse me, A-G-A-I-N. I have to stress “Again” because there is a lot of “it” going on. “It” being real estate agents switching brokerages. I talked to a friend today, another title rep at another title company, yes we get along! She told me another of her clients was switching brokerages. I am a business development manager for a national title insurance company, I help real estate professionals get found online.
She continued, “Suzy REALTOR is leaving brokerage X to go to brokerage Y”, Suzy isn’t her real name by the way. “Why?” I asked? “Well because she she wants more business” she said. Now,…..I don’t know what my face looked like when she said that but I know it was funny, I mean, can a real estate brokerage really increase an agents business? I have been in the title industry for 10 years here in Arizona, {one of the most competitive markets in the country} in those 10 years I have come across 5 or 6 real estate brokerages that I really do feel can increase an agents business. Not because the brokerage gives the agents leads but because they “get it”, they get that the future of a REALTORS business is online and they teach their agents how to grow their business leveraging the Internet. Neither brokerage X or Y was one of those companies.
Which begs the question: Is switching real estate brokerages really the answer to an agents problems? I’m guessing no. Most of the agents that I talk to {that ask me my opinion}, are under the assumption that switching brokerages will increase their business. I’m going to go out on a limb here and say it won’t. In my opinion real estate brokerages were set up to provide support, broker support, a place to “hang” your license and some basic training. They were not necessarily set up to help you-the agent-grow your business. Yes, they all say that, but really, can they? That is the bad news.
But I have good news for you as well. You can solve your own problems by opening your eyes and learning the future of marketing. Not just real estate marketing-marketing period. The future of marketing relies heavily on the Internet-on Inbound Marketing. So let me ask you this: Can you do that? Can you generate a lead on the Internet? If you can, it doesn’t matter too much which brokerage you work for, at that point it’s all about broker support and the “split” right? I don’t think there are to many problems {related to a real estate brokerage} you can’t overcome if you know how to generate your own business. Believe me, if you are doing business, the broker will have you on speed dial, just waiting to prove their value to you-you are an asset at that point, the office staff will greet you as you come and go, and the split-you will probably be in control of that too. Can you imagine that conversation?
“Uh, yeah, Bill…I realize that I am paying 30% of each transaction to you and X company, I was thinking that should be more like 10%”.
When you can generate your own leads you are in control. It’s the Golden Rule, he who has the Gold-Rules.
Many agents will ask questions a broker, interview questions like:
1. Is there a split?
2. What office fees are there?
3. What marketing materials are included?
4. Do I pay for my own signs, biz cards, etc.?
5. Do you have a training program?
6. Will you mentor me and answer my questions?
I think the 1st question a broker should be asked is one most agents don’t think of:
How are you Mr/Ms Broker going to help me grow my real estate business?
So instead of wasting your time and money switching brokerages, learn how to generate your own leads. I submit to you that if you can do that, I bet the rest of your brokerage challenges simply go away.
Am I wrong?
