Even if you don’t plan to change companies today, it’s important to assess your current brokerage and what it offers, and determine how well it aligns with your own goals. Here’s what to look for.
The advantage of being an independent contractor is that you control where, when and how much you work. In many cases, where you work can make a big difference.
As the lead recruiter for my company, I talk to agents every day about why they are considering joining a new company. If you’re in doubt about whether your current brokerage is right for you, here are six signs that you may not be in the right company.
1. There is excessive turnover
While it’s true that agents switching brokerages isn’t an uncommon occurrence, some red flags can start to appear if multiple agents leave the company one after another.
Agents can leave for a variety of reasons, so start researching and determining the main reasons for leaving. This also applies to the management team and staff.
If managers and office staff also leave in droves, business operations will likely be disrupted, which could lead to some instability in the business. Chances are it’s not the kind of supportive or nurturing environment that will allow you to grow.
2. You don’t have the right support to accelerate your business
If you play your real estate cards right, your business should constantly grow and evolve. Much of this growth depends on the tools and resources your brokerage has to offer.
From from coaching and lead generation to training and marketing services, every support your company provides will make a difference in how your business moves forward. If you find the tools lacking or inadequate, it may be time to seek out a brokerage with a better toolkit.
3. Your brand’s offerings aren’t competitive
If your brokerage isn’t keeping up with the competition or no longer helping you stand out, it might be time to explore other options.
Be clear about what you want from a brand and take the time to carefully research other companies in your market. Ultimately, you want to choose a company whose offerings best suit your needs.
4. You don’t feel the love
You may be an independent contractor, but you definitely need the support and appreciation of your brokerage. If you don’t get it, it’s possible that a lack of communication or connectivity between you and your broker or manager is the cause.
If your broker or manager isn’t taking the time to understand your goals and how they can support you, it may be time to move on. At our brokerage, I personally check on all new hires one month after they start, and then every three months after that, to see how they are doing and what else we can provide to support their business. .
It’s important to find a company that puts as much emphasis on retention as it does on recruiting. Otherwise, you might feel like a number on the list. We will never be a list society.
5. Your business lacks growth
Shortly after joining the team at my brokerage firm, I made it my mission to make our company the dynamic and driven company it is today. In the past year alone, our two offices have added over 70 new officers.
Due to our exponential growth in a short time, we have added more tools and resources to support the growing team. However, if your business is currently not growing, whether in size, service area, or market share, your growth may also be limited.
6. He’s the wrong person
Within our office, we promote a culture of agents working together collaboratively. We also encourage an open door policy with leadership. We let our agents and staff know that we are here for them no matter what and will always continue to support them.
Even if you’re not considering switching companies today, it’s important to consider the value your current brokerage offers and how well that aligns with your goals. Consider all aspects of your current situation and how it might improve if you move elsewhere.
If you decide it’s time to take action, make a list of everything that’s most important to you in a brokerage, from stability to culture to support resources.
Kim Artessa is Executive Vice President and Co-Owner of Better Homes and Gardens Real Estate Pristine in Cape Coral and Naples, Southwest Florida. Connect with her on Facebook or LinkedIn.