by Stuart Neal
on Friday, July 31st, 2020 at 6:44pm.
Your broker & brokerage enable you to legally trade in real estate. At the very minimum the brokerage is responsible for supporting your licence & acts as an admin centre for processing your transactions.
However, not all brokerages are created equal
Consider looking for a brokerage that can support you in 3 key areas:
Identification of new clients (on-line or from the market & community)
Training (technical & client management skills)
Brokerage & conveyancing services
Like most things in life you get what you pay for.
Low Fees – Low Support
Some brokerages offer you nothing more than a place to deposit paperwork & collect commission cheques.
You will have to look elsewhere for training, mentoring & set up an entire marketing & admin instracture of your own.
Higher Fees – Low Support
Some brokerages offer you the benefit of a franchised trademark & purport to offer training & systems. The reality is that most REALTORS® in these organisations set up their own systems anyway.
Note: some home sellers still care about the trademark.
Most home buyers don’t care which brokerage you are with provided you are:
You are personable
You are informative & add value
You show up & take care of them
According to news source Inman, most home buyers never interview more than 2 REALTORS® before agreeing to work exclusively with one of them.
Higher Fees – High Support
There are a few brokerages (like Ambergate Realty Advisors) that provide higher levels of training, & introductions to clients.
Over time you may wish to build your own pipeline of clients, but for the first few years, brokerage supplied leads could be the foundation you need.