Someone asked me this week what the biggest surprise has been now that I am getting out and meeting agents. I have to say that I have had a few of those moments. One is that some agents aren’t even willing to meet when I ask the question, despite me saying that it isn’t a recruiting meeting. I guess I see why one would not be agreeable to meet if they are completely happy at their current brokerage office. However, in a business where you are only as good as your networking methods, capabilities, why wouldn’t you meet if for nothing else but to add another name to your contact list?
Onto my next surprise…
When I ask agents why they chose to associate with their current brokerage, an answer that comes up multiple times is that they believe their current brokerage works from bottom to top, not top to bottom. I, of course, ask for an explanation and what they tend to focus on is a bigger commission split and cap.
Does a bigger commission split and cap really equate to a broker caring more about their agents? Lets think about this. If a company is offering you a bigger split, they are not offering you other things. Those other things being the tools and support that will ultimately play a huge role in your success. They may offer tools, but not without a cost. So now the company that cares about the success of their agent is charging the agent to utilize those things that will make them money. Is that how we care? Sure, you have a cap on your earnings, but that also means you are only worth the cap to the company. Beyond the cap, they have no incentive to coach you on how to make more. They have every incentive to charge you for copy paper, a desk, technology, customizable CMA programs, buyer brochures, etc. That cap will also cost you in the long run. If you are preparing all your own marketing material, putting your signs up on your listings, sending announcements for open houses, you are not doing the activities that you got into the business to do. Meet people, network and now that you are doing it all, you have created a ceiling effect on your income because as one person you can only do so much.
As a business owner, it is imperative that you evaluate your business in order to determine or conclude that you are in a place where you can truly thrive and grow. One way to evaluate is by hearing about other business models so you can compare them. Without comparison, you cannot make an accurate determination. Perhaps I am not just another name to add to your contacts. Perhaps I can help you realize that you are using the best business model for you, or that you do indeed need a change.
Looking forward to our introduction meeting.
Have a prosperous week!
Sarah is the Director of Career Advancement for the New Hampshire Seacoast & Lakes Region for Better Homes and Gardens Real Estate The Masiello Group.
Sarah strives to make a difference for professional REALTORS® who are committed to providing a Quality Experience for their clients, who want to elevate their own progression in the business and have the confidence to evaluate and make adjustments to their career paths along the way.
Contact Sarah today!