What do agents really want in a brokerage? The consensus is clear. Attention and Integrity. I think both of these cover a lot of ground. Agents change brokerages all the time, but why? What makes them switch? One suggestion could be the mere fact they are becoming brokers themselves and while some go this route, it’s usually not the majority. Most want and appreciate the care and responsibility of hanging their license with a qualified broker.
The agent doesn’t have to pay the extra taxes and insurance but they also won’t get the full benefit of doing things “their way”. While some brokerages allow for a free-for-all agency, some are quite strict and confine their agents to tough standards and limitations.
But what makes a good brokerage? For the client and the agent? I did some digging to find out what agents really want. To be left alone? To have their hand held? No restrictions? Surprisingly it came down to attention and integrity. Here’s what some agents had to say when asked:
What would make you change brokerages? Why would you go to one brokerage over another?
“We’ve switched once (different franchise office, same brand) and it was because of different rules for different agents. Some agents were allowed to have direct phone lines on their signs, and we were told “no” when we asked and were told “it wouldn’t make any difference to our business”. The brokers just wanted to feed the duty desk agents. We’d work to get listings and every new listing someone from our office would show the new listing within the first 24 hours on market.” – Bill
“Years ago before I opened our own firm the broker I had been with said for years – we are here to serve you. Well, they hired on more brokers because they were huge by then…. And quality went way down.” – Anna Kruchten
“The integrity of the Designated broker or owner. I switched offices twice for that reason.” – Carol
“Lack of availability on the part of the broker or manager to answer questions or help if needed. That’s why I left Prudential. My broker had 10 offices and when it was necessary for me to talk to him he was not often immediately available. So I got a Brokers license. And then I started wondering why I was paying someone that wasn’t available” – Candice Donofrio
“ My former broker was rarely available and the one time I asked him to review an offer he asked why I wanted him to look at it. I was new was why. He could not care less” – Mike Cooper
“One reputation over the other. My former brokerage had my friends refuse to list with me because of the broker and the other agents all of whom were less desirable people” – Susan
“Atmosphere/management – a poor manager, poor training, bad attitude of management, lack of support for agents – can all make one particular office much less desirable than another.” – Kat Palmiotti
Help When Needed
This clearly is a necessity, even with experienced agents. Some just want to be loosed and run with it but when the time comes, they need help, attention and consideration. We all want to be validated and when you’re giving up some of your transaction money, either in a transaction fee, desk fee or split, you want that money to count for something, not just the insurance you know they’re carrying for you. Whether you are a first-time agent or have been in the office for 10 years, your broker is your lifeline when needed.
Integrity
No one likes needy agents but brokers that are not available, irresponsible, annoyed at you or just plain rude makes a work environment that causes chaos, frustration and resentment. If no one wants to work with your broker as Susan said above, it not only affects the brokerage but the individual agent’s livelihood. That alone should prompt an agent to switch brokerages.
“I’ve been with eXp Realty since I started and have grown my business in just one year to the top closing agent in my Texas area. I know that the support and flexibility has motivated me to push past many of my colleagues.” – David Fleming, eXp Agent
Growing and Learning
We all need to grow and learn, otherwise, we die on the vine. But that’s exactly what some brokerages do and their agents can follow suit. If a brokerage is stuck in the 20th century, newer, more tech-driven brokerages are going to fly by them at warp speed. For a brokerage to keep up with its agents and the real estate industry, it must learn to adapt, grow, change, and learn. Clients expect it and agents should as well.
“I never really needed my mgr for many years. We disagreed on many fronts but I respected our differing opinions. Now I don’t talk to my broker at all as I consider him useless. The manager can make or break the office that is true. I also think that the overall thoughts of the office regarding new technology is important. You gotta learn to grow. –” Lyn
A Great Brokerage – Education, Partnership, Attention, Integrity
The four cornerstones of a great brokerage. This not only will offer you a great place to hang your license but will grow your business because more clients will want to work with you and the brokerage and agents will tend to be more productive with better support when they need it. If the word gets out the brokerage support and encourages their agents, there is no better advertising.
eXp Realty – Become an empowered real estate agent – Focused coaching, accountability & team support – John Kinnunen
More Advice for Agents:
REDX for Real Estate Agents – Do I Need it?
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What You Need to Know as an eXp Agent
Is Ownerly a Good Valuation Tool?
eXp Realty Stock 101: What you need to know as an agent
Contact Me At Any Time for More Information on Brokerages and Real Estate Agency
