The relationship between a broker and an agent can often feel similar to a marriage. Many agents spend their entire careers working with the same broker simply because the relationship works well for both parties and it ends up being a happy marriage.
However, sometimes agents don’t feel that their broker or partner is holding up their end of the relationship and the agent might be thinking about looking for a new partner; aka a divorce. These “divorces” are actually fairly common in today’s real estate world and a lot of times they actually benefit the agent.
Should you find yourself in the situation of being back in the dating field and exploring your brokerage options, there might be a number of different reasons causing you to feel that way. Here are five of the most common reasons real estate agents are thinking about changing brokers this year:
#1 - Lower Fees / Better Benefits
Keeping up with the relationship theme, one of the most common discrepancies between couples centers around finances. New brokers promising some combination of lower fees for the same if not better benefits you are currently accustomed to is one of the most common reasons for an agent to consider leaving one broker for another.
Finding an arrangement with lower fees is a no brainer on the surface, but before making a big decision like this, you will want to make sure that you are comparing apples to apples instead of comparing a brokerage with one set of principles to a brokerage with a completely different direction and plan.
Lower fees might not necessarily be a better deal if the new broker lacks some of the resources and benefits that are helping you succeed with your current broker. The flip side of that argument is that you might be willing to move to a broker with higher fees in order to gain access to more/better benefits that you believe can help catapult your business into another echelon.
Regardless of which side applies to your business, you definitely want to make sure that you fully understand the differences between brokerages before making the jump.
#2 - Office Politics
Another common reason that many agents might decide to leave their current broker is because they are tired of dealing with the office politics that exist in many brokerage offices.
Not only can office politics distract you from the primary goal of listing and selling properties, but working in a toxic environment like that can also be damaging to your health. There are countless health risks with subjecting yourself to daily unneeded stress, so if you are experiencing chronic stress in your brokerage it might literally be hurting you to go to work everyday.
Just as a sub-par office atmosphere can negatively impact you and your business, a positive atmosphere can help support you, allow you to be productive, as well as bring a sense of happiness to the agents who enjoy going into the office. Brokerages that have a sense of unity and camaraderie tend to see some amazing production levels in their local marketplace.
#3 - Ignoring New Technology
The world is rapidly changing, and pretty much every aspect of our lives are constantly incorporating new technologies; this is the same within real estate.
If your current broker isn’t on the cutting edge of the new technologies available in the real estate business, then other brokers and their agents are already passing you by. These new tools can help agents reach their sphere, new buyers, and new sellers easier, faster and with better consistency.
Sadly though, as an agent, convincing a brokerage that has been set in their ways when it comes to technology can be difficult and this is why numerous agents decide to switch to a more technology-progressive brokerage. Still, making sure that your brokerage is up to date with the latest web and social media technologies in order to give yourself the best chance on every listing is still crucial.
#4 - Inferior Agents
Great real estate agents want to work with and around other great real estate agents. If your current situation has you working out of an office with sub-par agents, or even worse if you are constantly being asked to train or assist new agents, it might be a good sign that it is time for a change.
One of the largest saying is that you are the average of the five people you spend the most time with. If that is true in the real estate business, you should do everything in your power to get yourself into a situation where you are surrounded by some of the best agents in your area. This way you can learn from the experienced agents, bounce ideas off of successful agents as well as pitch your listings to agents that always have buyers or investors on speed dial.
#5 - Lack of Recognition
Sometimes you just want to hear someone say “Thank You!” or “Good job!”
In any working environment it is nice to be appreciated, and if you aren’t getting those feelings from your current broker, that is one of the best signs that it is time for a change. You are working hard to earn commissions for both you and the broker, so you certainly deserve to work in a situation where your hard work is appreciated beyond a commission check.
These recognitions can come in the form of one on one meetings with your broker/owner, company get together ceremonies, promotional marketing materials, or just a simple “Great Job last week!”. Either way you owe it to yourself to make sure that you are working in the most productive situation available to you. With that being said you should also be careful not to burn any bridges on your way out.
If you decide to make a change you will almost certainly find yourself working with people from the brokerage you are leaving and you definitely don’t want to make any enemies.
If you are an experienced agent and thinking about making a change to start off your new year right, we would love to see if Carrington Real Estate Services is a perfect fit for you. Feel free to get in touch with us by filling out the application on our Experienced Agent Page! You can also get in touch with us by calling 877-267-3555 or emailing us at firstname.lastname@example.org!