In this episode we talk about why choosing your first real estate brokerage company to work with needs to be a good choice and a proper fit for you.
Careers in Real Estate - Your Five Minute Monday explores the many areas in the real estate industry to participate in and if it is the right career for you. I delve deep into the dozens of niche’s and specialty areas that many people never new existed. I also bring listeners up to date with the most relevant real estate market news and trends to be sure that new real estate professionals clearly understand how and why we work in our industry. Each episode is time sensitive to the market at that moment.
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Make your first company choice a good one
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Did you know that choosing the right company from the start is essential in succeeding? Let me tell you why.
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So this is a topic I used to talk about a lot in my classes, and I find it again to be something I need to stress to everyone.
Choosing the right company from the start is absolutely key to your success. Nobody should bounce around from company to company.
The public has a very poor perception when this happens. The public does not know how our industry works. They look at a situation like that and say “oh wow Nick’s jumping around again from that company to another company, he must have been fired. I wonder what’s going on with him.”
They do not realize that you are an independent contractor and you can move around all you’d like. But that’s not the best thing for you to do.
You want to stick to a company for at least a year if not two years before you start moving around. That said, choosing the right company from the beginning is essential.
So do your homework, do your research, make sure you’re talking to the right people. People are always trying to recruit you to move to another company. That’s just the way the business is.
Chances are, they’re getting a piece of your income when that happens. Maybe not from you, but from the broker side. So people are very motivated to tell you whatever they gotta tell you to get you to leave your company presently and go to their company.
Unfortunately quite often these things they tell you could easily be lies, so you have to be careful, maybe they’re not intentionally lying, but they’re probably stretching the truth pretty well.
Choosing the wrong company and then having to bounce around till you find the right company for you, is a huge waste of time.
This is time that you should be getting settled in, getting known by people setting up your affiliations with other agents and companies to network with and getting your name out there building a client list.
Any time you spend moving around is putting that on hold and delaying your whole process of succeeding in this industry.
Part of the nature of this business as I mentioned earlier, is other agents from other company‘s trying to pull you away from your company, and bring you into their company. They might’ve noticed that you’re not very happy where you are, or things are not moving fast enough, because everyone would like more and they would like it now.
So they try to pull you over, making it look like the grass is always greener on the other side. I also mention that quite often the person pulling you over is probably getting some of your commission later on.
Maybe from the brokers end but they may get a small percentage of what you make for the next year or two or more. So the motivation is very high to tell you anything they have to tell you to get you over. This could be very deceiving and usually a huge mistake as well.
Of course now you’ll have to have new business cards made and probably have to throw away your old business cards which is never a nice thing.
You’ll need to redesign your website and then you have to contact anyone that you already got in contacted with and let them know that you’re now with a new company.
As I mentioned, the perception of the public is very different than how we know it. they’re just assuming you’re getting fired from a previous employer and you’re not doing well in the business.
They will could also be reluctant to work with you from that point for those reasons.
So try to take your time when choosing that first company visit with 3 or 4, maybe even five of the larger franchise companies.
You want to choose a company with a highly recognizable name and with excellent training as well.
And that is your five minute Monday.
Have a great day