The majority of Brokers in the real estate industry just want their percentage of your commission or your monthly desk fee. They treat you like just another number and have forgotten that YOU the agent are their client. They aren't invested in your success and don't want to invest their time developing you. They just want to collect real estate licenses believing in quantity, not quality. Doesn't matter if your cap is $2,000 or $20,000 there are certain things a Broker should be providing you. This is what you should be getting for your money-
Access to your Broker. You are paying them for their expertise and guidance. You should be able to get ahold of them when you need them. They should not be a figure-head or that inaccessible person you pass in a hallway. Their job is YOU. That is why you pay them. Do you have your Broker's cell phone number? Can you contact them after 5pm or on the weekends when the majority of real estate transactions take place and issues occur? If you did call them, would they know who you are? Would they know what your goals are? Would they be willing to sit down with you one on one to listen to your goals and come up with a strategy to help you achieve them? When you reached out to them for help growing your business were you pushed to join a team so the team leader could teach you what your Broker should?
Knowledge to protect your client. Your fiduciary duty is to your client. This means you are protecting them and their best interest at every turn. Your Broker should train you on everything you need to know in order accomplish this. They should be making sure you know your forms inside and out with a strong understanding of each document and each section so you don't put your client in a situation that could have an adverse effect. You should be taught the best practices to sell listings fast and for the most money possible and be held to a standard of how a property should be properly marketed to ensure your fiduciary duty to your client is met. They should train you on how to get offers accepted at the best price and terms for your client as well as how to win in multiple offer situations and still accomplish this. You should know how to properly word an addendum to protect your client and the best ways and what to do to protect your client when issues do arise. Did your Broker make sure you were educated on all of these things before you hit the streets? Are you armed with all the knowledge you need in order to protect your clients' best interest at every turn?
One of a Broker's duties is to help you grow your business. You are paying them a ton of money to do so. There are 2 ways to accomplish this. One is to provide you with leads for you to follow up on and convert into clients. The other is to teach you how to cultivate and generate leads yourself. Most Brokers don't want to provide you with leads because it costs money to do so. Especially if they don't know how to generate leads themselves and rely on a third party service like Zillow to do so. It costs them nothing but time to teach you how to generate your own leads but most Brokers aren't willing to spend that time and if they are, they aren't willing to invest more time to learn today's techniques and how to use the latest lead generating technology. They are teaching stuff that worked 10-20 years ago. Does your Broker provide you with leads? If they do, do those leads apply to your cap? Do they teach you how to use social media and the latest technology to create an abundance of leads? Do they have the knowledge base to reach today's tech savvy consumer? Are they willing to pass that knowledge down to you?
The right tools make a difference. The best mechanic in the world is nothing without a proper set of tools. Sure he may eventually get the job done, but how much faster and easier could it have been if he had the right tools for the job? Realtors are the same. It is your Broker's job to provide you with the tools you need to succeed. There are new, incredible tools being released daily that impact today's real estate market in a major way. Your Broker should be testing out these tools and informing you about them or providing them to you. These tools will help you grow your business and make your job easier. Your Broker should be providing or giving you access to the latest in social media management, lead capture pages, and internet click funnels to generate leads for you to CRMs, chatbots, and artificial intelligence to help you engage and follow up with those leads concentrating on the hottest ones, to electronic signatures, and online document management and review to make your job easier. Does your Broker provide you with the latest tools to generate leads from social media? Do they provide you with a CRM and tools to help you follow up with the hottest leads so you can work as efficiently as possible? Are you able to generate and send out the necessary paperwork for a deal anytime and anywhere?
You can have the best set of tools in the world, but if you don't know how to use them they are useless. This business is constantly changing and you need constant and consistent training to keep up. Getting a license to sell is just the beginning. LEARNING to sell, that is squarely on your Broker and any Broker that tells you differently, you should be leery of. You pay your Broker to train you, not to have a team leader that you have to pay an additional split to and not the other way around. Don't even get me started on the Brokers that want to charge you over 1000's of dollars over and above you cap. They should train you on everything you need to know. From knowing the forms inside and out, to winning strategies for listings and purchases, to providing leads and helping you create your own, along with how to excel marketing both your listings and yourself. They should understand your market trends, the newest ways to communicate with prospects, client trends, and property marketing trends and provide access to you to learn these things. Your Broker should be reviewing your documents, making sure you are compliant and that the addendums you draw up are legal, ethical, and fully protective of the Client and training you along the way on how to do so. Are your trainings free or does your Broker charge you for them?
Mistakes happen. With the right Broker, it can be avoided and if not, dealt with by the Broker. Your Broker is responsible for teaching you how to sell real estate, morally, ethically, and lawfully. If you make a mistake, they should be there to help you correct it. They should be holding your hand until you are ready to go forward on your own. If you have an issue with a client or another agent, they should step up or step in and rectify the situation or defend you if needed. You should feel secure that no matter what the situation is or how difficult it may be, your Broker has your back and is only a phone call away. Does your Broker have your back?
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