Discover the right real estate agency for you

Published by Martin Signer 18th August, 2023

The work environment is a critical element of your professional and personal happiness.  Therefore, before starting an in-depth interview, you need to decide which real estate company you would like to work with.  There is no universal solution for everyone, so consider your preferred work environment and the size agency you prefer to work for when making your decision. Consider these key points to find the best business model, environment, and culture for you.  Check out the top real estate agencies in San Bernardino for examples of successful real estate agencies. 

The size of the real estate agency

In metropolitan areas, the range varies from companies with less than 10 agents to companies with hundreds of agents. Large companies may have multiple offices, so the size of the office may be more important than the size of the company. Some people like the excitement and the hustle and bustle of a large office, while others prefer the overall relaxed working atmosphere of a small office. These are just personal preferences to consider.

Real estate agency brand recognition

Many For Sale signs in the yard indicate which company represents the property.  Many of these agency names are recognizable.  Even if an individual agent is less known, the power of the name recognition of the real estate agency can be helpful, especially when first starting your career. 

Capabilities of the real estate agency

When you go to the nearest real estate office, ask yourself if you will be proud or hesitant to work there with the chosen employee and hold meetings with clients. A real estate agent often meets with a buyer's client in their office before the property is even listed. If they want to buy one of the properties you're advertising, you'll probably go back to the office and do the paperwork there. Office aesthetics will play an essential role in the client’s view of you as an agent.  In addition, look to see if there is enough workspace for computers.  Also, consider, is it possible to access the office outside of working hours? Is there parking for agents and customers?

Location of the real estate agency

Consider how long it takes to get to the nearest office of your chosen real estate agency. Of course, today's technology has made real estate agents extremely mobile, checking email, making phone calls, and taking MLS calls online from home or on the go.

However, sometimes meetings are necessary to send business documents, receive forms and documents, check mail, etc. You have to go to the office. Your office may not be close to where you want to work. Today's real estate agents need to know a wider geography than they did decades ago. Whether your real estate office is located in a family home, a shopping center, or a high-rise is a matter of personal preference. One key factor to consider is how often customers find your office. Some real estate companies do not provide their brokers with office space but usually make up for it with higher commissions.

Education of real estate agents

In real estate school, future agents learn many important principles and fundamentals related to real estate. You will learn about real estate law and contract law, drafting legal sales contracts, listing real estate for sale, real estate financing, real estate appraisal, and more. However, you also need to learn skills such as sales and negotiation techniques. It is important to take the first steps in learning the value of real estate, selling property, and properly organizing a complex purchase. These skills require higher education and, if necessary, legal assistance. Companies should provide formal training for new agents and an organizational process for hiring new agents.

Experience with real estate agents and knowledge of the market

Whether you have a real estate business that you support and are actively growing or you have plenty of time to support new clients, your broker is a key element of your success.   The level of broker experience, interaction, and support can lead you to successful sales and the growth of your business.

Management is a very important point in real estate. In the case of a medium and large enterprise, the main contact may be the manager, in the case of a small enterprise, a broker. The personal actions of that manager or broker can affect how long they can support you. Ask how many full-time and part-time employees the manager is responsible for. Having more than 50 full-time employees can be a big burden for a manager if the company does not have a manager to help.

Administrative assistance

Some offices perform other duties, such as uploading MLS listings and documenting transactions. Larger companies often have individuals that specialize in an element of the real estate transaction.  Consider if you only want to do one element of the process or follow it from start to finish.  Also, think about how much support you want in your real estate career. 

In addition, be clear on when you will get paid.  Ask how long after completion of the sale you will receive the commission. All real estate businesses must make a profit to survive, but there are many ways to make money. In the traditional brokerage model, approximately half of the commission is paid to the broker when a sale is complete. If sales increase during the calendar year, shares may change. In this model, most, if not all, of the overhead is borne by the real estate company.

A hybrid model has emerged where some real estate companies charge different commissions to agents to cover operational costs and high margins. In exchange for stabilizing the company's billing, the company's management receives a higher percentage of commissions than conventional commission models. This model is mainly preferred by experienced brokers because the financial risk is transferred to the broker.

A real estate company made up of mostly new employees can be busy but also somewhat chaotic, not to mention the managers' busy schedules. If most of your agents are managers, your office will be stable but not busy. A mix of experienced and new agents gives you the best of both worlds. When you meet with a potential manager or broker, ask yourself what they think of the company. Your intuition should influence your decisions. You can also go to the websites of realty companies in California, search the directory and find representatives who work there. Asking new and experienced agents what they think of the office as a workplace can help you get a better idea of the business in general.