5 Things You Should Know Before Changing Real Estate Firms

Since most real estate agents stay with the real estate firm they choose for many years, its quite important that they choose a firm that provides them with everything they need to achieve their desired success. Although there are numerous things that may be important to you, for the sake of this blog, I'll list the top 5 based upon feedback from our 100+ agents.

1) Broker support: When you need to speak to your managing broker, how accessible are they. Do they answer the phone when your call? Do they tell you to text or email? Do you get a call back the same day? Do they respond after 5:00pm or on weekends. My first experience as a real estate agent, I called the managing broker to help me with a contract question as I was writing my first offer to purchase. I called the brokerage at least 5 times, each time I made the call I was told I would be called back shortly. Seven hours after my first call, on call number 5 I was told the managing broker was gone for the weekend. I was on my own. I did ultimately write and received and accepted offer. But, my buyers were very unhappy that it took me so long to write their offer. I was embarrassed but what could I do? That day I thought to myself, if I ever open my own brokerage, I will never leave an agent hanging on. Its just wrong to do this. For the most part, I answer my phone and handle our agent's issues on their initial call to me. Feel free to call any of my agents to verify this is you choose to. If I cannot answer, my agents know that they will hear from me within one hour, usually, its less than 15 minutes.

2) Favoritism: Quite often, perhaps unintentionally a managing broker chooses a particular agent that they become close with, maybe even a group of selected agents and no one else matters except them. I pledge that I will treat every person that knows me with the utmost respect. I will never show favoritism or be disrespectful to anyone. Everyone on our planet should be treated equally and respectfully.

3) Brand building: Most of the big box brokerages have their agents concentrate on building the brokerage's brand. I beleive this is counter-productive for an agents best interest. Therefore we work with our own agents by providing them the knowledge and tools they need to build their brands. We want our agents to understand that their buyers and sellers work with them because of who they are, not because of the firm's name they work for. That falls under the category of drinking the Kool-Aid, whereby agents feel that without the "big box brokerage's" name they will fail.

This is the largest misnomer in our business. According to the NAR, the National Association of Realtors, on average, over 95% of all buyers and sellers work with an agent because they like, trust and respect that agent. Their brokerage does not matter. This brings me to reason number four.

4) Pay Plan: Most real estate firms take a large chunk of their agent's commission on every transaction. There are firms that actually take 50% or more of their agent's commissions. No wonder so many agents fail in their first two years. The agents not only give away a significant amount of their earnings, but they also have to pay all the expenses that every agent incurrs like gasoline, vehicle expense, signage, marketing, advertising, E & O insurance etc. Our firm Lannon Stone Realty has the simplest of all pay plans. Upon a successful ful closing you will be paid 100% of your commission minus only a flat $200.00 fee. No extra fee for E & O coverage. No caps to obtain. Our brokerage is not designed to survive on taking large amounts of your hard earned commission. Our overhead is minimal. The only deviation to this is if you join under our "Mentorship Program".

Under that program, an agent will receive 70% of their commission for their first six closings. They will be supervised by a licensed broker or an agent who has closed over ten million dollars in earned commisions.

5) Training: In addition to our optional monthly sales training which may be attended in person or via Zoom, we also have a library of training videos. We also have other optional training as well as a plethora of knowlege being shared among our agents on our private Facebook group. Addtionally, are currently offering a monthly optional "Agent Round Table". This is an ideal time to discuss current market trends, talk about lead generation ideas, overcome sales objections etc.

We also have regular company functions like a family picnic, regular social gatherings as well as an annual awards banquet.

If you're ready to advance your career with a family run locally owned real estate firm, it's time for us to talk.

Call Bob Forman broker/owner 262-333-4440 or schedule a private one on one phone call by

Thank you,

Bob

Proud members of GMAR, RASCW, RANW, RANWW & Southshore.