Many new Property Agents especially before taking their exams are wondering what are the best prerequisites of which property agencies to join after clearing their RES papers. Here’s a few of what is important in my take on which ones to go for after consulting a couple of friends running the Real Estate agency business.
A way to identify whether a particular Real Estate Agency has its brand close to everyone’s heart would be how much a reach an Agency has over its audience. They typically would command a decent number of realtors in terms of market size for this to happen. It also holds true that the longer a brand is in the market, the reach is more mature.
Only practicing Realtors would be able to identify and see the growth of different Agencies since they are in touch with the market, else new Realtors would have to seek help from practicing friends on their feedback.
Some do have their different strength in different segments on the market. Niche franchise brands where numbers are smaller might have a certain reputation for being in segments such as private, commercial or even luxury residential. If you are looking for a certain niche to start with, you could start by exploring on the reputation of the agency as with how much you can leverage.
Generally you would hear of groups or divisions of Realtors carving their own branding, which are much more prominent and active in the market as well. Their choice would usually be a brand that sticks and is more prevalent, as they would rather much concentrate on their sales instead of worrying about the Agency they are in.
Agencies who focuses on giving and training would usually have a supporting lead of group leaders whom contributes back in real estate curriculum on market practices, legalities and ways to improve their Realtor’s overall quality in order to again strengthen their reputation.
You would typically find most major agencies having a great set of curriculum to kick off a new Realtor, especially when it comes to legal forms and representations. Separately, it becomes mandatory now since Council of Estate Agencies (CEA) requires all professionals to go through some core and non core hours every year to refresh or learn new skill sets.
Another way would be also to look at what groups are typically available in Agencies where they conduct separate trainings to enhance their team’s knowledge. This is a great leverage especially to Realtors who might not have a sense of belonging from the start as you get to know new friends whom can help along the way.
Chasing payments, crediting of payments into your account, having the right forms, agreements for the right job is important.
Bigger agencies have the economics of scale when it comes to this department. Back-end monitoring for agents to monitor their incoming is important, as of most agencies now, they would be supporting online submissions of their closed cases in which you can do it at the comfort of your home office or anywhere on the move.
And then there is only this point for you to be aware of as well, which I would call them more red tape than anything else since Real Estate Agencies always face this elective season every time of the year especially when it comes to the period of renewal on our professional licence,
You can’t fault anyone when usually the case when it comes to recruitment. Campaigns will be all over the place to get the best possible new associate into the company, where there are schemes, subsidies and telling you where you will be after joining.
All you would just have to do is take everything with a pinch of salt and have your eyes wide open to see what fits into your criterion, whether the Agency promises follows through in the most in your upcoming exciting business
“If it sounds too good to be true, it usually is”
Whatever your decision is on your agency, remember the ultimatum is whom you will be learning from, who is your direct mentor and how motivated are you above all else! Good luck in your Real Estate journey!
PS. You might find this helpful as well as these are 5 most important traits as a Real Estate Agent.