What to look for in a Real Estate Office

I knew I wanted to be a Real Estate Agent.  But I didn’t know what office to join. 

I asked around and was given the advice to get an office with good training.  I talked to a couple Real Estate teachers and got their opinion.  I was given the name of an office that had good training.  But I only lasted with that company for a year because the commission split was so low and the office did not help me target the area that I wanted to sell in.  So, I decided I needed to switch. 

I left but it cost me.  I had to buy all new marketing materials.  And recreate many myself.  I was also not allowed to take any of my listings with me.  The switch lost me time, clients, and money.

I asked my title company where I could get a better commission split in the area I wanted to sell in.  I was told the names of two.  I had heard bad things about one of them so I went with the other one.  I lasted there for two years.  I lost a client over the management not getting back to me on a special scenerio that I did not know the answer to.  The company was just too large.  They also charged high office fees, I didn’t have an office space, and buyer leads were pretty non-existant.   So once again I decided to switch.   It again lost me time, money, and clients. 

This time I decided not to get any advice or opinions. I would do it the right way.  I decide to interview EVERY office in the area that I thought might be worth working for.  I talked to SIX offices before finding the right fit.  I have been happy now for the past five years.   If I would have gotten it right the first time I would have been able to save myself lots of grief. 

Here are some things you may want to consider when looking for the right office (also refer to my article Getting the Best Office Experience for a list of questions to ask):

• Location - Is the office located in the area you want to sell in?  If not it is probably not the right fit.  What free marketing they offer will probably not be suited for the sellers you are trying to target.  And the chances of you getting buyers for the area you want to work are slim to none.
• Size - Very large companies may not be able to offer new agents the amount of time they need to get started.  And companies that are too small may not be able to assist you with getting buyers.  Keep both those things in mind when talking to different offices. 
• Management - How are they going to assist you?  Are they there to answer questions?  If you join a large company that only has two managers chances all your phone calls may not be returned.  Make sure they have a system in place in case you run into a problem.  Even after hours. 
• Clients - What does the office do to help you get buyers?  If the office does not have a system that you can use to get buyers than it is probably not the right fit.  It usually takes three years before you will start getting referrals, and repeat business.  In the meantime you will need a way to get some business just to get your feet off the ground.
• Training - Do they have a training program to help you get started?  How often is it and what does it cover?  If you have training that is only once a week or doesn’t cover the must haves like contracts, as a new agent, you could be in trouble. 
• Goals - Does the company fit where you see yourself in five years?  Ten years?  If you can’t see yourself there long term than it is probably not the best place to join. 
• Cost- Are the office fees and commission structures going to work when the market is up and down?  Plan for the long term scenario instead of just the short one.  You need to be able to make and keep your money now and in the future.