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I'm just looking to learn from the experiences of those of you who have moved from one brokerage to another. Where did you come from and where did you go to? What motivated you to move? What kind of incentives did your new brokerage offer you (feel free to message me these details if you'd prefer)?
I'm always evaluating every aspect of my business and I would be neglectful if I didn't include my brokerage association on that list. Granted, the XYZ brokerage office in my area may be a vastly different place than the XYZ office in your area, but I'm curious to hear about other people's experiences.
Not interested in opening up my own brokerage though. Thanks in advance!
Yes. I left ERA to open a RE/MAX. I wish I hadn't stayed at ERA 9 years before doing something different. I'm not knocking the company itself but I stayed longer than a I should have because I felt a sense of duty to remain since they brought me into the business. The commission structure wasn't really competitive with some other companies like RE/MAX or KW. I thought they felt loyal to me as well but I saw the truth at the end of the relationship that I was just a paycheck to them. I would have been much farther ahead much sooner in life if I had left ERA sooner than I did. Live and learn, but now as an owner I get frustrated when I see other agents making the same mistakes I did.
Had I not opened a RE/MAX I would have only considered going to KW or joining a RE/MAX. The reason I picked RE/MAX was the atmosphere of part timers and poorly trained agents at KW that I don't have with RE/MAX. I was at a point in my career where I valued being surrounded by other full time professionals.
When I started, in 2000, the place to go in Dallas is Ebby Halliday. She trains the crap out of you. There is (was?) a required 2 week training/orientation you had to take, even if you were coming from another brokerage. No agent was exempt.
After about 1 1/2 years, and a lot of number crunching, I realized how much money I had paid her, and the only other option that made sense to me was RE/MAX. Then, I moved to Austin in 2009. Everyone said "go local", but interviewing the "local" brokerages was bad, really bad. Lots of part time agents, not the best reputations on many of them... moved to a RE/MAX in Austin.
However, Remax didn't/doesn't have a large presence here. I stayed with them for about 4 years. My broker burned his bridge with me and I needed to leave. I tried a small boutique brokerage who promised me the world. Every time I asked when he was going to implement what he promised, he would put me off. Almost a year later, I confronted him with the promises and he point blank told me he wasn't going to do any of the things he promised, so I left.
I went to a Medium sized brokerage who was branching out to multiple markets and allowed me to brand myself. Was there for 3 years, and they just merged with another brokerage that is hitting Texas by Storm, JP & Associates Realtors. They have 1100 agents, tons of technology, LOW fees, they redesigned my personal logo at no charge, and they leave me alone! I can take as many/little classes I want. They aren't "Big Brother" looking over my shoulder.
This last change was not my choice, per se, but they did give us 3 weeks to decide to move our license to the new company or change to another Brokerage. I took that time to realize the merger was a good thing, and stayed.
I don't want to talk negative about any of the other brokerages, but there are so many I would NEVER be caught dead at. Too many part-timers, and no offense, but I will never be on the band-wagon that thinks you can hold a corporate job and do real estate in the evenings and weekends. I don't even work on the evenings or weekends for the most part because I've been in the business long enough to explain to my clients that "serious" buyers will take the time to find their future investment, and not only work around their work schedules. #soapbox
So I worked for a local indie when I started and then opened my own brokerage as soon as I was able. I've been doing that for 10 years. I'm not a big company kind of gal, I just prefer things to be small and less crazy.
I think the good thing about brokerages is that there is some kind of place for everyone. If you like high energy, then there are brokerages for that. Want brokerages that leave you alone? We have those too.
I think the good thing about brokerages is that there is some kind of place for everyone. If you like high energy, then there are brokerages for that. Want brokerages that leave you alone? We have those too.
Couldn't agree with you more. I think it's hard to decide with 100% surety which is the right fit though until you've spent some time working there.
I worked at one major national brokerage for 2 years, then switched to another. Brokerage #1 had protected farming areas, which I was not fully aware of when I joined. I did not like not being able to prospect except in my own "area". Ridiculous. The 2nd, where I am now, also has a better commission plan. You do not start back at 50/50 when the new year begins. For those not on Long Island, yes, many brokerages start the agents at a 50/50 split.
I started at Century 21 - mediocre training but I didn't know any better. A year later I left for a brand new, no name 95% company as I felt there was no value at C21 and their technology was way behind the times, so I was doing it all myself anyway.
About a year later another local broker with a small start up brokerage successfully recruited me at a slightly higher split. I was pretty happy there for about three years, but I felt I had reached a ceiling on what I would learn there and was having trouble organizing a team.
After interviewing with several brokers, I decided to go to Keller Williams. The split was higher at 70/30 (30k cap) but I felt it was worth it - especially since I wanted to learn to build a team - the culture and systems there are built very well for that. Three years later I had learned a ton, built a team, let the team go (as I decided it wasn't my cup of tea after all), and this particular Keller Williams office was then being very poorly managed, so I left and joined another Keller Williams. When that one started struggling a year later, I decided it was time to just go out on my own - a few months ago. Wish I had it done it a year sooner when I was fully vested in my profit share, but overall I would say my time at KW was worth it - if even for just the education alone.
Around here most agent go to a local branded franchise with lots of training, teams you can join. The commission are much lower but you get the support you need.
Then one your experienced, know how to prospect and get business on their own, they tend to move to the flat fee model. Brokerages that give you 100% commission and take a small flat fee. They offer no support and is only for experienced agents but you make a heck of a lot more money.
I have. Not a big deal. I made a mistake and joined a small brokerage and before too long it became obvious that the broker was maybe crooked. Sometime after I left it made the newspaper that he was in possible legal trouble for extortion. Changing brokers happens every day. If you don't like it where you are just pick up the phone and start looking elsewhere.
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