Starting your real estate team is one thing but finding the right brokerage to help manage your team as it grows isn’t always easy. Since your brokerage partner is an extension of the brand you’ve created, finding the right fit for both you and your team members is critical.
There are many reasons why you may consider moving your team to a new brokerage. Here are three things to keep in mind before making the switch.
Make sure your strategy and goals are well-defined.
Before you make any decisions, take some time to really evaluate what you want for your growing real estate team. What are your current goals, and how well does the brokerage you’re considering align with those goals?
Are you looking for more support in terms of training, technology, or marketing? Or do you need a brokerage that will give you more freedom and flexibility when it comes to working with clients?
It’s important to have a clear idea of what you need in order to make sure the switch is right for both you and your team.
If you don’t have a clear and decisive vision in place, consider holding off on making the switch until you do.
Research and vet the brokerage.
Be sure to research the real estate brokerage prior to meeting with them. Social media and networking platforms are usually a good first indication of whether a real estate brokerage is a good fit for your team.
When it comes to The Pistana Group, culture comes first. When I moved my team to a new brokerage in 2018, I made sure it fit within the culture and values we had already established.
Here are some additional ways to vet a real estate brokerage prior to meeting with them.
Look at their track record with teams.
When searching for a new brokerage, it’s important to look at their track record with teams. How well do they manage and support them? Do they have systems in place to help you grow?
If the brokerage you’re considering doesn’t have a lot of experience with teams, that’s not necessarily a bad thing. However, it’s important to make sure they are willing and able to support your team in the way you need them to.
Talk to their current teams.
The best way to get a feel for how a brokerage will work with your team is by talking to their current teams. What do they think about the support they’ve received? Is there anything they would like to see change?
By getting feedback from both current and former teams, you’ll be able to get a well-rounded view of what it would be like working with this particular brokerage.
Look at their commission structure.
When it comes to finding the right brokerage, commission structures are also important to consider. Some brokerages have a higher commission split, while others offer more support with technology and marketing.
Be sure to ask the brokerage about their current commission split and what other services they offer that can help you grow your team.
If you’re not happy with your current commission split, be sure to negotiate with the new brokerage before making the switch.
Moving Your Real Estate Team to a new Brokerage
Finding the right real estate brokerage for your growing team is important and will play an instrumental role in helping to scale your business. It’s important to ensure the real estate brokerages you join encapsulate all your team’s needs so you can feel confident they’ll be able to be there to support your growing business.
