Choosing a brokerage firm to work with can be a confusing proposition. Whether you are a new agent or a productive experienced agent the decision should be based on some critical points. Here are the three of the most critical do's and don’ts:

Don’t: Base your decision on expense reduction. Just because a company is offering a better commission split or a 100 percent concept model does not mean your business will grow. In fact, I’ve seen many agents focus on expense reduction and in turn create production reduction at the same time.

Do: Choose an organization that focuses on the growth of your business.

• Does the manager offer coaching?
• Does the manager have systems in place that help you spend less time running your business and more time with customers?
• If you are building a team, will the manager help you hire and train buyer’s agents? Escrow assistants?
• Ask the manager to show you results from of agents they have supported in growing their business.
• Ask to talk to those agents.

Any true business leader will tell you that no company can grow by just reducing expenses. This is not to say you should be fiscally irresponsible in expense management. A good manager will help you do this. Which would you rather be with a broker who can help your business grow by a $50,000 net or one that will reduce your expenses by $10,000?

Don’t: Choose the company that is behind in the technology race.

Do: Base your decision on a company that is on the cutting edge of technology.

• Do they have their own Intranet site?
• What systems are in place to get your properties the most exposure on the web?
• Do they supply a web site for you?
• Do you get your e-mails directly from the web site or does it filter through the company first?
• Does the company site get high placement in search engines?
• What kind of tech support is offered from the company?
• What fees if any are associated with the technology that is provided?

Technology has now become one of the highest expenses in the industry. Your ability to leverage the company’s investment in technology can save you an enormous amount of expense in the future. Do your research!

Don’t: Choose a manager that focuses on solving problems and putting out fires.

Do: Choose a manger that is proactive…one that is interested in your business growth and exhibits that from day one.

• Great managers are great trainers.
• Great managers empower you.
• Great leaders develop other great leaders.

If a manager spends a month away from the office and the offices continues to run smoothly you have found a true leader. This means the entire office is empowered. Find that leader and let them empower you.

A manager can be a great help to your business. Interdependence outweighs independence every day of the week. All responsible agents should create an accountable relationship with a good leader.

Do your research! Don’t be the victim to your brokerage firm or I should say your bad decision. Take personal responsibility and choose the company that will best support you.

Published: May 6, 2004

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