Top 7 Questions You Need To Ask When Choosing A Real Estate Broker

Congratulations on deciding to pursue a career in real estate. One of the most important decisions that you will make on this career path is what real estate brokerage firm to join. Here are the top seven questions to ask when choosing a real estate broker.

Understanding Commissions: One of the primary elements to understand is how the broker runs commission splits. This will have a significant impact on your overall earning potential, making it important that you understand the finer details as well as if there is a commission cap.

Brokerage Fees Responsibilities: You also need to be acutely aware of any fees that you would be responsible for as a broker. Examples include office fees, MLS dues, website hosting, and more. These fees could take a significant bite out of your commission, necessitating that you pay attention to the extra costs.

Broker Benefits: Some firms will offer their brokers a number of material benefits. It is recommended to ask them if they provide lockboxes, business cards, signage, and all of the other intangibles that make it easier to do your job.

Office Support Availability: A good broker will also understand what their office provides for support in their work. You should ask the firms you are interviewing if they provide clerical support, a technology expert to help troubleshoot issues, and a closing agent. This is a good time to ask about potential marketing resources the firm may offer its staff.

Educational Support: You are going to want to find a firm that offers you the educational opportunities and support that will help you to advance your career. This is why you want to ask about the types of classes that the firm offers its agents. Be sure to also ask about other types of support available to brokers to help them to grow their business and learn.

Broker Expectations: It is also a good idea to understand what will be expected of you in this role. For example, will you be required to sell a set number of homes per year, do brokers split office phone duty, are you expected to attend regular team meetings or retreats, and more.

Company Culture: In addition to all of the financial and logistical details, you are going to want to learn more about the company culture. Will you be a good fit with the vibe of this firm? Getting a tour of the office and meeting some of the other brokers in person will help you to discern if this is a good fit for your work style and personality.

When you join eXp Realty, you do so with the confidence of knowing that you will be putting the success of your career in good hands when you join the best real estate brokerage firm in the business.