Best Brokerages for New Real Estate Agents
Mar 23, 2023
Starting out as a new real estate agent and getting your license can be a daunting task, but finding the right brokerage can make all the difference. The brokerage you choose will not only provide you with the training and resources you need to succeed, but they will also be your support system as you navigate the real estate industry. In this blog, we'll take a closer look at some of the best brokerages for new real estate agents.
Best Brokerages for New Real Estate Agents
To begin, it's important to note that no brokerage, firm or company should define you as an agent. Any veteran agent will tell you that you can't rely on a brokerage for 100% of your leads, nor can you depend on commission just because you joined a certain broker team. To survive and thrive, you'll need to grow your sphere of influence, build awareness in your local market and deploy lead generation tools.
No matter which brokerage you join, you'll have to hustle to drive new listing appointments and discover new buyers that want to tour properties.
Keller Williams Realty is one of the top brokerages for new real estate agents. They offer a comprehensive training program called Keller Williams University that covers everything from lead generation to contract negotiation. Keller Williams also has a unique profit-sharing program that allows agents to earn a percentage of the company's profits based on their performance. This provides a strong incentive for new agents to work hard and succeed.
Keep in mind that your exact commission split may depend on the specific Keller Williams team that you join. A single Keller Williams office may have multiple different teams.
Another great brokerage for new agents is RE/MAX. RE/MAX has a strong reputation in the real estate industry and is known for its supportive and collaborative culture. They offer a comprehensive training program for new agents, as well as ongoing education and mentorship opportunities. RE/MAX also provides a wide range of tools and resources to help agents grow their business, including a customizable website, a CRM system, and access to marketing materials.
Coldwell Banker is another brokerage that is popular among new real estate agents. They offer a robust training program that covers all aspects of the real estate industry, including lead generation, contract negotiation, and marketing. Coldwell Banker also provides agents with access to a wide range of marketing materials, including a customizable website and a mobile app. They have a strong brand recognition and reputation, which can help new agents establish credibility with potential clients.
Century 21 is another brokerage that is popular among new real estate agents. They offer a comprehensive training program that covers everything from lead generation to contract negotiation. Century 21 also provides agents with access to a wide range of marketing materials, including a customizable website and a mobile app. They have a strong brand recognition and reputation, which can help new agents establish credibility with potential clients.
Other Top Brands
Depending on your market, you might also want to take a look at Compass, eXp or Sotheby's - which are all great options.
National Brokerage vs Independent & Boutique Brokerages
When it comes to choosing a brokerage, one of the biggest decisions new real estate agents will need to make is whether to work with a big, national brokerage or a small boutique or independent brokerage. Both options have their advantages and disadvantages, and the right choice will depend on the individual agent's needs and preferences.
Big, national brokerages are typically well-known names in the real estate industry, with a strong brand recognition and reputation. They often have a wide range of resources and tools available for their agents, including advanced technology, comprehensive training programs, and marketing materials. This can be especially helpful for new agents who are just starting out and need guidance and support as they build their business.
On the other hand, small boutique or independent brokerages may offer a more personalized experience for their agents. They often have a tight-knit community and a strong emphasis on mentorship and support. This can be especially beneficial for new agents who may need more one-on-one guidance and support as they navigate the real estate industry. Additionally, smaller brokerages may offer more flexibility and autonomy for their agents, allowing them to build their business in a way that works best for them.
Another key difference between big, national brokerages and small boutique or independent brokerages is their commission structure. Big brokerages may have a more rigid commission structure that leaves less room for negotiation, while smaller brokerages may be more flexible in their commission agreements. This can be an important consideration for new agents who are still building their client base and may need more flexibility in their earnings.
Tech-Enabled and Online Brokerages
The final category, which represents the smallest segment of the brokerage industry includes companies that operate online or mostly online. Many of these models also have unique, hybrid compensation which may include salary in lieu of a commission.
Several of those companies also offer discounted commission or specialized fee structures for sellers or home buyers.
Ultimately, the best brokerage for a new real estate agent will depend on their individual needs and preferences. Some new agents may prefer a brokerage that offers comprehensive training and mentorship programs, while others may be more interested in a brokerage that provides access to advanced technology and marketing materials. It's important to do your research and carefully consider your options before making a decision.
Once you pass your state real estate exam, we suggest interviewing with several broker teams and if possible, meet with individual agents from various companies.