Not all broker-agent relationships are fruitful. When aligning with a brokerage, an agent’s measure of success should have less to do with commission splits and more to do with the overall value proposition.
In a recent RISMedia webinar, “How to Create a Mutually Beneficial Relationship With Your Broker,” sponsored by Curbio, audience members learned how to identify sources of success to ensure the broker they want to align with provides the support and guidance needed to reach their goals.
To start, said panelist Gee Dunsten, associate broker at Long & Foster Real Estate, LLC, real estate agents and teams must ensure the environment is one of positivity.
"What makes it a good place to work is a happy place. It's a gathering of people who are partners and want to help each other," he said.
To gauge what type of environment they are walking into, Dunsten recommends simply talking to the agents that are there.
"Ask them what's more important to them. What are the core values of the organization?" he asked.
For moderator Julie Toon Timms, master coach with Workman Success System and owner/broker-in-charge at Hilton Head Island Real Estate Brokers, Inc., it's about integrity, and measuring not only what brokers say they are going to do, but also what they practice.
"There's the book version of integrity and there's the practice version integrity," said Toon Timms. "There are two different meanings or many, many words."
Panelist Brooke Sines, broker with RE/MAX Executive and RE/MAX of Grand Rapids, and a coach with Workman Success Systems, said you can get a good idea of the type of brokerage you're aligning with just by how leadership acts when they think no one is looking.
"That's who you truly are at your core," said Sines. "It's treating your agents just as well as the way you treat the agents you're courting."
Aside from value via a positive and supportive environment, agents and teams should consider the level of personalization the brokerage is able to provide.
"There's a problem with a lot of companies that have a lot of tools and say, 'You have to do it our way.' We know that every agent has a different thumb print," said Dunsten. "Trying to put everyone in the same bottle…it doesn't work for very long."
Of course, tools in the right setting absolutely matter. Toon Timms encouraged agents to ask about the types of resources being provided.
"What kind of value does the broker give you? Are you they giving you CRMs to use? Are they giving you secretarial support?" asked Toon Timms. "It all adds up when you're looking for a brokerage."
But pay attention to the onboarding process and how the tools are actually being used.
"The company might have all kinds of tools, but do the managers know how to use them or are they teaching agents how to use these tools?" asked Dunsten.
In the end, said Charlotte Morris, brokerage partnerships account manager at Curbio, it's about compromise.
"When I make my list, some things outweigh the others," said Morris. "Whatever your list, you're probably not going to get a 10, but ask yourself what the most important thing is."
Watch the full webinar below:
To view more webinars from RISMedia, subscribe to our YouTube playlist.