Thinking of changing your real estate brokerage? Or, are you curious about what other agents get with their broker? What are the qualities that are important to you and your real estate career? What do you need to not just survive, but to thrive? Here’s my list of the 5 great real estate broker qualities that makes our career the best it can possibly be.
1. Regular, Sustained Training and Mentor-ship.
Successful agents will tell you that using technology is one of the top income producers for them. They have to stream-line and have systems in place to keep up with the volume and grow their business. Technology is growing and evolving so fast that what was true even 2 years ago is no longer working effectively. They must learn the new technology systems to stay where they are and continue growing their career.
New agents need as much training in all areas of the real estate industry as possible, AND, they need a mentor and advocate. First and foremost they need to understand lead generation and how to put systems in place to effectively bring in clients. Next, they need to understand the laws of their state and the legal ramifications of disclosures and other important items. Then, they want to know how to work with clients from buyers and sellers to other team members such as title and mortgage companies. Finally, marketing and building their brand is paramount to launching a sustained and lucrative sales career.
Agents who have more than a year under their belt must have training to continue their growth and commitment. It can get daunting sometimes as well as almost lonely trying to figure it all out. Training and mentorship is a great way to get your creative juices flowing and reestablish your commitment to growing your career. My company has more than 60 hours of live free training each and every week. It’s massive, high quality training by experts in the real estate field.
2. Lead Generation – CRM – Marketing
Who can possibly be successful in their real estate career without leads? And, how can you get leads without a systematic Customer Relations Management (CRM) system that is effective and proactive complete with a drip campaign already set up for success? I suppose it is possible and can be done, but it sure is helpful to have all these systems in place. In order to drive that traffic to your website to collect those leads, you of course need effective marketing tools that are designed for attracting and capturing those leads. A real estate brokerage should offer free lead generation software as part of their agent success package. In order for the broker to be successful, their agents need to be successful! My brokerage includes the complete suite of tools using KVCore. It is very powerful.
3. Upward Mobility — Cutting Edge Technology
100% virtual is a must! I have known and have been in agencies that do not have a sustained plan for growth. They do business as they have always done business. They will tell you they’ve always been successful doing exactly what they are doing. That may be true, but are they transparent in showing you their business plan? Or at least some form of it so that you can see how it will affect you and your individual career growth plans? There are three types of agencies; one-those on a growth and expansion path; two – those who plan to sustain their current path; and three – those who are spiraling down to a slow burn of death. Which one do you want to be a part of? Did you even stop to look at your agency’s growth and business plan with a magnifying glass? Is it realistic, representative, and sustainable? Some companies sure seem successful, but when you take a hard look at their success plan, it is non-existent, and they are really just getting by. Looks can be deceiving. Check out their business plan and be ready to take your career to new heights. Let’s get cracking!
4. Commission Structure and Income Potential
This is usually the first thing we all look at when deciding on a brokerage. What are the commission splits? Although it is important, it is not necessarily the be-all end-all. If it were, we’d all be at an agency that supports 100% commission. This can be misleading and actually counterintuitive to your income strategy. You have to look at the whole picture. It sounds straight forward, and I fell into that trap myself, but when I put all my income into a spreadsheet with all avenues for income from the agency, I found that the commission structure was only one piece of the wealth building puzzle; granted it is one of the largest, and very important, but long-term income for retirement and growth factor into the equation and provide for a much better income strategy for long-term wealth. My company has numerous avenues for income, not the least of which is free stock ownership in a growing global company.
5. FUN! and Community
Having an opportunity to meet and get to know our co-workers is so very important. It’s the old adage, people who need people are the luckiest people in the world. I admit. I need people. And in getting to know many of our other agents, I have been enriched personally as well as professionally. From meeting for happy hour, dancing inside the virtual world, and laughing with co-workers on a Zoom call and Workplace, I’ve shared a lot of laughter and fun…even though it has been a crazy and unique year! Work is hard work. Yes. Absolutely, and you have to do the work in order to reap the benefits, but having fun and meeting new people is like adding music to the agenda, it lightens the load and brings a smile to your face. One of our 9 Core Values is Fun, and another is Community! Interesting how that works out, isn’t it?
These are my 5 great real estate broker qualities. If your broker doesn’t provide these 5 items at the very least, it may be time to search and interview other brokers. What are your 5 great real estate broker qualities? What is important to you?
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K. K. Rothermich is a 20-year real estate veteran with experience in listing and selling homes, farm, and commercial residential development land. She wants to talk with you about all your real estate questions, comments, and needs. You can reach her for a free consultation at Karen.email@example.com. Visit her website at karenrothermich.exprealty.com. karenrothermich.exprealty.careers