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The 7 Critical Mistakes Real Estate Salespeople Make When Choosing Their Brokerage

 

#1 Failure to Interview multiple brokerages

  • The single MOST IMPORTANT person to any sales representative when they are first licenced is their Broker/Sales Manager.
  • You should interview many brokerages to choose the person you feel will have the time to help you succeed in your career.

#2 Focusing on the commission split

  • Specific brokerages with an emphasis on learning and one on one coaching can help you generate more business more quickly than a no frills, low cost brokerage.
  • If your brokerage can help you achieve just one more transaction, then that extra commission more than makes up for any increase in fees.

#3 Relying on promises of learning

  • All brokerages will claim to offer learning, but is that online based learning, hands on learning, one on one coaching?
  • When learning to ride a bike, an effective teacher can get you cycling much faster than you can when you try to figure it out on your own.

#4 Failure to appreciate experience

  • 96% of ALL businesses fail within 10 years due to a lack of innovation and attracting new clients.
  • A brokerage that has been around for longer likely innovates well and that experience is passed on to you.

#5 Unrealistic expectations about the real estate industry

  • Up to 80% of new real estate salespeople abandon their licences within TWO YEARS.
  • There is more to selling a house than simply putting a sign on a lawn, waiting for the buyer to show up and cashing your cheque.
  • A good brokerage will adjust your expectations so you can see how it really is, and see how it can be better for you, so you can last past 2 years

#6 Not taking location into consideration

  • Choose an office that is easy to get to and is close to where you intend to do business.

#7 Failure to tour the Brokerages

  • The environment created by the Brokerage will go a long way towards your success.
  • Open areas with lots of common space for salespeople to interact provide you opportunities for other mentors beyond just your Broker/Sales Manager.
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