When you are choosing your real estate brokerage, check out this ranking tool I've created to identify your values, goals and intentions.
It really breaks down the decision-making process into an easy, step-by-step process.
I call this process a "wheel" and it can be drawn to look like a bicycle tire with spokes.
Here's what you do to get clearer on your options for real estate brokerages, when you are ready to choose where you want to hang your license, or wish to make a change.
Write down what means the most to you.
Commission split? Good people? Location? Brand recognition? Then, give each area a set of points maximum.
The total should add up to 100.
Now, fill in points for each area with different brokerages.
I'll share an example for the small flat-rate Real Estate eBroker, the bigger Keller Williams, Coldwell Banker, plus a fourth option to work with a business associate in her own small but mighty brokerage.
These choices more closely mirror my values.
You want to factor in your own numbers, your own options for brokerages, and your own desired business model into the equation that fits you.
1.
Quality of broker = 15 2.
Quality of brand, recognition by my clients = 10 3.
Access of broker when I need help, can I reach them? =20 4.
Commission split, monthly fees low or none = 15 5.
Location of office (close, commute is short) = 10 6.
Good people = 20 (how nice are other agents, how nice is the admin staff, how responsive are the staff to my requests, how good does it feel to contact or go inside the office) 7.
Overall gut feeling of choice = 10 Now, create your own wheel.
Now, I started with quality of broker as 20 or 20 percent but then I wanted to add the last line, an overall "how does it feel" line.
So I had to take from other lines because when the sum is 100, it's easiest to see how your choices rank up.
Now, make a chart of your own broker choices.
Let's say I have four choices.
I'm going to spell them out in a line-by-line format, but it is much easier to do this in a chart or wheel.
Here are a sampling of choices again: KW -- CB -- REeBroker -- Friend 1.
15 -- 10 -- 4 -- 3 -- 5 -- 15 -- 5 = sum total = 57 2.
10 -- 10 -- 2 -- 10 -- 10 -- 0 = sum total for the small office nearest to my zip code = 52 3.
15 -- 2 -- 20 -- 15 -- 2 -- 20 -- 8 = sum total of RE eBroker, a flat rate California brokerage = 82 4.
15 -- 1 -- 15 -- 15 -- 7 -- 20 -- 5 = friend's brokerage = 76 So, there you go.
I've been thinking about going back to ReEbroker, and it looks like that is where my wheel is sending me.
This process is a very cool tool whether you are choosing brokerages, summer options for your kids, or job opportunities.
When I'm looking at opportunities, I like to separate out my emotions from the facts of the situation.
Then I like to put my emotions back into the equation if there is a close tie or determining factor required.
Take your time making your choice of brokerage, because your choices will influence your professional outcomes for years to come.