Choosing a Brokerage and Getting Started in Real Estate

Why is it important to research potential Agencies you wish to work with in Real Estate sales?

It is important to research potential agencies you wish to work with in Real Estate sales because you want to work with and learn from the best in the business. I would research the larger companies first such as Century 21 or REMAX to find out what they have to offer. Next, I would research the smaller companies in the town and find out what they have to offer a new broker just getting started. Also, talk to people who have already purchased a home through one of the agencies and get their perspective on the transaction. The reputation of a real estate agency can go a long way and helps build trust with potential sellers and buyers.

What are the most important factors to consider? Why? 

The most important factors to consider are (1) Local Market Share and Agent Income; (2) Composition and quality of Sales Staff; (3) Recruiting and Retention Philosophy; (4) Office Esprit de Corps; (5) Agent Status (Independent Contractor or Employee?); (6) Training Programs; (6) Support Facilities; (7) Multiple Listing Service (MLS) Membership; (8) Realtor Affiliation; (9) Office Ethics; (10) Commission Splits; (11) Errors and Omissions (E&O) Insurance; (12) Your Obligations to the Firm; and (13) Special Functions (Edwards, 2006). Starting off, you will not have all the necessary skills to use all of the important factors listed. Select your top two or three to start with then work on the others later. Also, communication is an important factor. Without it, there will be working relationship or advancement in the business.

Explain why the use of technology is important in a Real Estate Agent’s career today.

The use of technology is important in a Real Estate Agent’s career today because it provides more access to information for clients who are searching to buy or sell properties. Using technology, the agents have the ability to upload and update new and existing properties. They can communicate with clients and not have to be in the office all day. Also, they can use social networks such as Facebook, Twitter, YouTube, LinkedIn, and Instagram to advertise themselves and the company they are working for. With thousands of people on the World Wide Web, someone is bound to contact a real estate agency in their state through the use of the internet.

References

Edwards, K. W. (2006). Your Successful Real Estate Career. Saranac Lake: AMACOM. Retrieved from http://ebookcentral.proquest.com.ezproxy1.apus.edu/lib/apus/detail.action?docID=3001828