Decision Insights: Choosing Between a Larger Global Real Estate Team and a Local Family-Owned Brokerage

When starting your journey in real estate, deciding whether to work with a larger global realtor team or a local family-owned brokerage is a critical choice. Both options offer unique benefits and trade-offs. This article aims to help you weigh these factors and choose the most suitable option that aligns with your goals and needs.

An Overview of the Options

Before delving into the specifics, it is essential to understand the two primary types of real estate brokerages:

Larger Global Real Estate Teams: These often boast a significant brand reputation and extensive network. Local Family-Owned Brokerages: Known for their personalized services and close-knit community.

Understanding Brokerage Fees and Commissions

The commission structure can significantly impact your financial bottom line. Be aware that commissions can vary widely, ranging from 40% to 75%. Your current satellite realtor, for instance, takes 100% of her commissions for her own leads and 75% for leads generated through the office.

When evaluating brokerages, consider the following:

How much does each broker take as a commission? Do they provide progressive commission structures based on the level of support they offer? What additional services does each brokerage offer, such as marketing, client acquisition, and service provision?

It is crucial to thoroughly research and compare the commission structures and services offered by different brokerages before making your decision.

Evaluating Support and Resources

Support and resources are paramount, especially for new agents. Here are some areas to consider:

Office space: Does the brokerage provide a designated workspace? License support: Can they help with the licensing process or provide necessary documentation? Phone line and receptionist: Are there dedicated lines and support staff available to assist you? Call line: Does the brokerage offer a call line to help generate leads?

As a new agent, you will require substantial support and hands-on assistance. Therefore, it is important to interview brokers and assess the level of support they provide. Will they be available to answer your questions and assist with new forms and tasks?

Experienced Advice: Choosing a Brokering That Will Actually Answer Your Calls

The best advice I've ever heard is to select a brokerage that will genuinely provide you with assistance. Many new agents report difficulties in reaching their brokerage when they need help, which can be detrimental. As a newcomer, timely support and mentorship are invaluable. Larger brokerages may come with significant brand recognition, but it's essential you can afford the fees and are seeing results.

Spending time to talk to a few realtors at different brokerages can provide valuable insights into the day-to-day support available and the associated fees. Make sure your income covers your expenses to stay in business long-term. A thoughtful and well-informed decision is key.

In conclusion, whether you choose a larger global brokerage or a local family-owned team, it is essential to prioritize your needs, research thoroughly, and choose a brokerage that can provide the support and resources you need to succeed in the field of real estate.