What Makes a Brokerage Worth Joining?

Question

Hey BP community,

I’m in the early stages of launching my own real estate brokerage and I’m just trying to understand what matters to agents (and brokers) when it comes to joining a brokerage — whether you’re a newer agent or a top producer.

Let’s be honest: if someone’s doing well at their current brokerage, they probably won’t switch easily. But what would make you consider it?

So I’m asking:

• What do you expect from a broker?
• What are non-negotiables for you?
• What are dealbreakers?
• What support, structure, or vision makes you feel like you’re building something, not just grinding?
• If you did switch in the past, why?

What do you expect from a broker?

What are non-negotiables for you?

What are dealbreakers?

What support, structure, or vision makes you feel like you’re building something, not just grinding?

If you did switch in the past, why?

Also, be real with me:
If a new boutique brokerage with killer branding and no listings yet approached you, what would make you take a meeting at all?

Thanks in advance — I want to build something that doesn’t waste people’s time. Appreciate every perspective, even the hard truths.

Located in central NJ, if anyone's curious.

Jennifer

Peter Mckernan · Answer

I would say that a couple of big things for agents and people that you want to come to work at your brokerage and love it..

1. Having information at your fingertips, which may include access to the broker/team lead at any time, or an operations person. This is critical to make sure that the person/people feel that they are supported. This is like a buyer/seller, and they call you as their agent, and you answer (call back quickly to answer their questions).2. Training, bringing the training, and getting up to par, which is a lot of work, but needs to be done, since for agents to feel that they will be able to complete their offers, negotiate, crush open houses, structure a weird deal, and much more.3. Technology support, this is big these days with AI coming into play. You need to be at the cutting edge when an agent looks at you for these types of situations.

Shawn Mcenteer · Answer

Hi @Jennifer Katherine De Loughy please see below.  :)

-What I expect from broker:  Access to them at a minimum of 9am-9pm 7 days per week.  This is really for the sole purpose of needing answers on compliance issues that may come up

- non- negotiable:  I must be allowed by brokerage to also be a mortgage loan originator and be compensate for, I am NOT sending my business to broker owners lender when I as the agent can show up in that capacity.  With that being said majority of real estate commission must go in my pocket and there must be a clear way to allow me to work at greater than 100% commission each year with opportunity to receive re-occurring income

-deal breaker: mandatory meetings that are frequent, majority preferred vendors i.e, lending, title, attorney, home warranty etc.  Any office hours as a requirement

-Access to broker is most important for me.  Even when I was new coaching, education, classes never impressed me becuase you can get them anywhere so I always outsourced coaching to top producer some of which were other brokerages even though my brokerage offered it to agents.

-I switched in the past becuase Brokerage put majority of fees on the agent in form of high splits and brokerage had to many rules/major push to use their in house people which was essentially an extra income stream for owners.  Also could not stand the brand element, meaning the push to get realtors to believe their business was from the brokerages brand. No one has ever worked with me becuase I was at XYZ realty, to this day many don't realize where hang my license.  At previous brokerages I was always told "if you leave so will your business"  It was always BS

I would meet with another brokerage if there was compensation structure that was substantially better than what I have now but with that being said I am I'm in a spot where I have golden hand cuffs,  I would be leaving tens of thousands of dollars of re-occurring income to make a switch. When I have conversations like this normal the math does not add up for me personally.  All this being said I want to let you know I am in unique position, although every realtor has ability to have what I have I know very few take advantage of it.  Most agents focus on buy/sell hamster wheel