It’s Not All About the Split!

Many new agents start looking for brokerages that offer the highest split, and this can be a setup for failure. The allure of having a flexible schedule, having flexibility while making a decent income is something that draws . But you still need to be able to run your business. So it is natural for new agents to think that they need to find the brokerage with the highest split available to ensure that their income will have the smallest cut.

It has been shown that brokerages that offer the highest splits to new agents also have the smallest amount of support. This can make it difficult to generate business and learn how to grow. Most new agents don’t know what is required to build an effective real estate career. So it is imperative to find a broker that can offer more.

Some questions to ask new brokerages:

• Do you offer a mentoring program? Signing up for a mentoring program will get your access to top agents in the office that can answer questions, but also provide support and help avoid mistakes. Normally, mentors will take a part of your commissions for a set period of time, but it is worth it to get the experience from someone who has been doing real estate for awhile.

• Is there 24/7 instant support? Real estate does not typically follow a 9-5 schedule, so you need to be able to have access to ask questions as they arise.

• Do you provide in-house/zoom training? While having access to an online program can be helpful at times, having access to in-person or live-steaming training. This way you can interact with the trainer if you have any questions that come up.

• Do you provide leads? Leads are the lifeblood of a successful business. Many brokers do not provide leads. This is not a bad thing if that brokerage trains you on how to generate your own leads. This is helpful because it makes you self-sufficient in your business.

• Do you offer a CRM and training on how to use it? It is important to have access to a CRM tool, but just as importantly is to have someone that can show you how to use it properly to get the most value from this program.

While splits seem important, and are as you become more established in your career, it is also just as important to make sure you have the support with your brokerage. A foundation to build your business is critical to thriving.