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Why do some agents work for a small broker instead of a large one? Why do brokers go solo?

martha501

I'll start off with the fact I maybe bias to this blog for obvious reasons. I think a portion of the population wonders why aren't all brokers part of larger firms?


The idea of the blog is to really make you differentiate between a knowledgeable broker and one that is simply working for a fancy name or office.


Well, why aren't all brokers part of larger firms? Really, what deters a broker from joining a larger firm?


You would think there are so many great benefits to these well known brokerages that joining should be automatic. From brand name, experienced leaders, training & maybe future business?


The truth is most firms have an open door policy to all licensed associates; as long as they are a morally decent person. Brokerages are designed to make money from those that sell; they don't really loose out with new hires. As agents we pay to get hired and firms start some small profit from day one in hope they can make more from you as you sell. It's the business model.


On brand names; do consumers really know these names or just see them advertised enough to feel they can trust them? Does a brand make a broker more knowledgeable or do we base if off true experience/knowledge?


Honestly, I believe marketing does its job. If you market heavily enough people will feel they know you or your brand and disregard anything else, at times. "I mean you are all over, you must know what you are doing", is the mindset.


Are these brands really providing service or are they just big marketing pockets attracting future customers? These are all questions that both consumers and agents that are choosing a firm should ask.


I f you place yourself in the shoes of newly licensed real estate agents. The dream of making it big like Ryan Serhant and yet no clue of how or where to start. Why not just join their team, they should surely know how to make it big.


These are some of the reasons that make a broker go solo if they have enough experience to do so or why agents join smaller firms:


  1. More of a direct approach and versatility on working with clients

  2. Cost savings on all miscellaneous fees

  3. Commission split savings; can pass down to consumers.

  4. Control over time ( such as unnecessary trainings or meetings)

  5. Control over personal brand

  6. More direct training from broker

  7. Ability to offer other services in the real estate transaction.

  8. Entrepreneur spirit

  9. Idea of building their own brand.



There are many other personal reasons for each broker not joining a large firm or going solo. We can't negate there are some very knowledgeable brokers working in large firms and smaller ones too that have been operating in their locations for years.



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