These questions provide a foundation for evaluating potential brokerages.

Are you considering a career in real estate? The decision to step into the world of property transactions is an exciting one, but it’s crucial to ensure you make informed choices right from the start. Before you dive into this full-time endeavor, there are five vital questions you should ask prospective real estate brokerages or teams: 

1. Full-time vs. part-time agents. Inquire about the agent headcount and the ratio of full-time to part-time agents within the brokerage or team. Only about 10% of agents at most brokerages view real estate as a full-time career. This statistic highlights a significant divide in commitment. To set yourself up for success, it’s essential to align with a brokerage where the majority of agents share your dedication.

2. Core company values. A brokerage’s values define its identity and approach. Take the time to understand the driving values behind the company. What does it stand for? Equally important, understand what it doesn’t stand for. Make sure these values resonate with your own principles. Delve deeper into how these values manifest in their daily operations – this will provide insight into the brokerage’s culture.

3. Lead generation. Leads are the lifeblood of a real estate agent’s business. While agents must proactively find their leads, having a consistent stream of company-provided leads can significantly boost momentum. Inquire about the number of company-provided leads you can expect each month. This support can make a crucial difference in your initial steps towards building a client base.

“Embarking on a career in real estate demands careful consideration and thorough research.”

4. Time to your first closing. Transitioning into real estate can be financially challenging in the early stages. It’s vital to know how long it typically takes for agents in the brokerage to achieve their first closing. This information will help you plan your finances and set realistic expectations, ensuring you don’t find yourself in a crisis while waiting for your first paycheck.

5. Career advancement opportunities. Although it might seem premature, understanding the potential for career growth is crucial. Envision where you want your real estate journey to take you in the long term. Inquire about the possibilities for advancement within the brokerage. Does the company offer paths to roles like managing broker, performance coach, or team leader? Having a clear trajectory for growth can be motivating and fulfilling.

If you’re interested in learning more about these points or want to explore what our brokerage has to offer, don’t hesitate to reach out. A successful real estate career begins with making informed decisions from the outset.