Today we are going to take a look at the best real estate brokers to work for. By the end of this article, you will be able to figure out if your broker is truly awesome, or if it’s time to get a new one!
What Does a Broker Do, Anyway?
A real estate broker is an agent who has a real estate license and has also passed their broker license exam. The major difference between a real estate agent and broker is that a broker can own a real estate brokerage and hire agents to work in their brokerage. Some of the day-to-day responsibilities of a broker may include:
- Managing agents
- Recruiting new agents
- Training agents
- Resolving conflicts
- Resolving legal conflicts
- Reviewing contracts
- Managing brokerage office & staff
The best real estate brokers to work for, however, offer more value than just acting as a dictator who sees agents and staff as their subordinates. Read more to learn more about what makes a good real estate broker.
Qualities of a Good Real Estate Broker
1) Cares about agent success
The best real estate brokers to work for go out of their way to get involved and speak to agents one-on-one They do this to make sure their agents are having their needs tended to, and in turn, make the brokerage a better place to work at. Whether it’s through establishing networking events, offering their mentorship, online seminars, or Q&A sessions, you know you’re working for a great broker when they are willing to listen and better the agent community.
2) Offers a reasonable commission split/transaction fee structure
The biggest complaints agents have is they hate paying high broker splits and/or high transaction fees. Simply put, having to sacrifice a large chunk of your hard-earned commission to your broker is unfair. The best real estate brokers to work for understand this, and do everything they can to keep their splits and fees low. Even if you can’t keep 100% of your commission at closing, brokers compensate for this by providing adequate training and support. It’s all about what the broker’s intentions were in having established their brokerage. With that being said…
3) Gives support for free
It sounds a little odd that this is included in the list, however, you would be surprised at how many brokers charge their agents to merely do what is expected of a broker – which is to give support. Also, some brokers aren’t even willing to be available to their agents, period. As we mentioned, it’s about their intentions as an acting broker. If the broker you are working for is nonexistent, or is not willing to assist you unless you pay up, then it’s time to give them a big “thank you, next.”
4) Does not provide leads
You are probably reading this with a confused face and thinking, “well, don’t the best brokers to work for actually HAND OUT leads?” To be frank, the answer is no. The best brokers strive to train their agents to be self-reliant, rather than depending on the broker/brokerage to do their agent work for them. Successful lead generation is taught and perfected with the help of a good broker.
Time to Evaluate – Is your Broker the Best of the Best?
The best real estate brokers to work for offer attentive leadership, make great efforts to guide the financial stability of their agents and their brokerage, and create ongoing opportunities for their agents to harness their own skills to increase their agent business. Does your broker do any of these things? If not, then it’s time to make a change that you deserve.
At NB Elite Realty LLC, we pride ourselves on being the finest Florida real estate brokerage. We know the value of our agents, and we want to be a resource to them, not just a name they can associate themselves with. With our years of collective experience, we are prepared to build the kind of brokerage that agents want to be a part of. We want to be a brokerage for agents that inspires trust and confidence. Regardless of whether you are an experienced agent or you are just starting out, we have a place for you. If you would like to learn more about us, one of Florida’s best flat fee real estate brokers, contact us.
Nebo Bandovic is an investor, broker, and the owner and founder of NB Elite Realty. He is responsible for spearheading the company’s growth initiatives in the states in Texas and Florida. For more information about NB Elite Realty’s sponsorship opportunities, please visit https://nbeliterealty.com/broker-sponsorship/.