Finding the right brokerage can be a challenging task. It can be especially overwhelming if you’re a new agent with no or limited experience. There are so many firms out there, and choosing the one that fits your needs and goals can bring a fair share of ups and downs. That’s why here are some important questions to ask a real estate broker so you can make an informed decision for your career. And since new agents are required to work under the sponsorship of a broker for the first few years, you’d want to make every day and every experience worth it.
1. “What Is Your Experience?”
There is a list of questions to ask a real estate broker. Start with understanding their experience. Ask which areas they specialize in, how long they’ve been in the industry, how much they know about the local rules and regulations, and more such details to assess their knowledge and reputation.
2. “What Is Your Commission Structure?”
Traditionally, there has been an 80/20 or 90/10 commission split in a brokerage. You may think you can keep the entire commission to yourself, but that’s rarely the case. You have to split the amount between you and the company you are working for, as well as cover any additional fees.
Things are different if you work with a 100-commission real estate brokerage like NB Elite Realty. This is where you can keep the entire commission with yourself and pay just a nominal transaction fee. It’s how you can achieve financial freedom.
3. “What Costs/Fees Do You Have?”
Traditional brokerages charge several other costs apart from regular commission splits. There can be a technology fee, marketing fee, desk fee, and more such expenses to cover the costs of the brokerage.
With a brokerage like ours, you simply pay a nominal membership fee and get numerous benefits to help you excel. So, ask your chosen brokerage about their fees, as you can have a standard to compare all their benefits to.
4. “Are There Mentorship Opportunities?”
As a new agent, you should have a mentor so you can learn through their experience and approaches. Real estate isn’t something that you can master by yourself or with countless hours of training. On-the-job experience is crucial.
Mentorship programs that we at NB Elite Realty offer help you grow and succeed. You can learn about listing presentations, open houses, lead generation, and more. So, choose a brokerage that doesn’t leave you alone struggling in this ever-evolving space.
5. “Do You Offer Lead Generation Technology?”
What more questions to ask a real estate broker? Lead generation can be tricky. Ask the broker if they offer state-of-the-art lead generation platforms to find prospects because we provide leads to our agents so they can focus on other essential aspects of the deal.
6. “What about the Administrative Support?”
Questions to ask a real estate broker must also include information on things that help you streamline all processes. So, look for marketing, accounting, technological, legal, and other similar systems. Administrative support is crucial.
7. “What Are My Growth Opportunities?”
Too many agents miss out on making as much money as possible due to limited opportunities. So, ask the broker how they can help you diversify your income streams.
Brokerages like ours offer opportunities to learn about luxury and commercial real estate apart from just residential to expand your commission opportunities. You can also launch your real estate team, leverage investment mentoring programs, and do much more to succeed. Figure out what works for you and go at it with complete passion.
8. “What Is The Company Culture Like?”
It might all be about the numbers and tools, but what about the culture/vibe? The company’s atmosphere should be welcoming and dynamic, not cutthroat or competitive. There’s already a hostile environment out there for agents; you’d certainly not want that from your team.
Final Thoughts
The bottom line is that sometimes you get what you pay for, but other times, it isn’t the same. Ultimately, you should be looking to get maximum value and opportunity from the brokerage. As an agent, you can be successful just anywhere, but the kind of support and resources that the brokerage offers make a lot of difference.
Have You Considered Joining NB Elite Realty?
If you want to join the best brokerage for your real estate success, partner with NB Elite Realty today. We offer the training, tools, and resources necessary for agents to excel in their roles.
Under the guidance of our head broker, Nebo Bandovic, you can expect to achieve the financial freedom you’ve always dreamed of. We provide leads, 100% commissions at closing, agent mentorship, webinars, access to commercial and luxury divisions, investment programs, and so much more. Ours is an investment-friendly brokerage with over a thousand agents all over the country.
You can also be a part of the tribe. Click here to get started.