New agents: how do I choose the right brokerage?

Now that you've got that shiny new real estate license, how do you pick a real estate company and/or brokerage to work with? Do you go with the big-name brand? Do you join a team or stay independent? And how do you find a company that will help you generate business and start making money?

There's really no one-size-fits-all answer. The firm that’s best for you will depend on your personality, your needs and your goals. But you also probably don’t want a place that will leave you to sink or swim on your own. Here are some things to think about before signing on the dotted line.

Will they help you generate business?

For agents who haven't built relationships yet, cold calling, door knocking and expensive marketing are the most common ways to drum up business. Joining a team is another way to learn the ropes and get some clients, though the tradeoff is usually a lower commission split. And, of course, there’s working with your family and friends.

But even if you’re initially successful with your existing network, it can take a long time to develop a strong database of leads and prospects. That’s where working with a company that provides leads can really help.

Some firms distribute the leads that come through their websites, but many share those leads primarily with their top performers, and not necessarily with new agents. And then there are those unicorn companies with really strong lead generation programs – ones that have enough leads for everyone and distribute them equitably.

What kind of support and training do they offer new agents?

Going from newbie to top performer takes more than just drive and ambition: you need knowledge and experience. Choosing a company that provides comprehensive training, coaching and mentorship is the best way for a new agent to ramp up, and for a more experienced agent to keep learning and improving.

Do you want to work for a big, traditional brand?

A bigger player will typically have more brand recognition, some training programs and lots of agents, some of which you can learn from, but you could get lost in the shuffle. A more independent player can be good if you don’t relish a super-corporate culture and want a place where you get more hands-on attention.

Is the culture collegial or cutthroat?

Real estate can be an incredibly competitive industry. And since every agent is running their own business, it can sometimes be a lonely one. If you’re in a super-competitive setting, agents don’t have any reason to help each other, so you may not get the benefit of their knowledge. On the other hand, in a less competitive setting, you can share knowledge, and have the kind of social connection and friendship only a warm, friendly workplace can provide.

What does the compensation structure look like and what do you get for what you pay?

Look carefully at what services your commission plan covers. If it includes support and training, great technology and leads, it can be a great investment in building your knowledge – and your business.

Make sure you choose a place that has a certain amount of flexibility in the commission structure so you can change things as your business grows and your needs evolve.

What services do you need from your company?

You can opt for full-service or limited service – each model comes with its own benefits and drawbacks. A comprehensive offering may cost you more, but it frees you up to do what you do best: take care of your clients. Limited-service options will probably net you a higher commission split, but you'll have to do a lot of day-to-day stuff yourself, or pay someone else to do it.

New agents get a great start at Property.ca

We get it. Being new to the biz is tough. There’s a big learning curve and building relationships takes a ton of work. That’s why we offer a comprehensive training and coaching program, flexible commission and service plans that can change as your needs evolve, and a high-energy, innovation-driven culture our agents love.

Read more: 5 reasons to join Property.ca

An ingredient in Property.ca’s secret sauce: QUALITY LEADS

There’s something we offer that most other real estate companies don't, and that’s leads: lots of them. Warm leads will come to you on the regular from our three popular real estate portals. All you have to do is follow up. There's no cold calling and no door knocking. Just conversations with people who are receptive to your call.

Read more: Agents: why I love Property.ca

Supporting your success

If you ever have a question, there's always someone who's happy to answer it, whether it’s your sales managers or knowledgeable colleagues. Not competing for business makes for a warm, friendly culture where we share knowledge, support each other's success and give new agents a place to thrive.