As a new real estate agent, finding the right brokerage can make all the difference in your career. With so many options available, it can be overwhelming to determine which company will provide you with the best tools and resources to succeed. In this article, we will explore some of the top brokerages for new agents, helping you make an informed decision.
Keller Williams: An Unbeatable Choice
It's no surprise that Keller Williams Realty tops our list for new real estate agents. With over 300,000 agents and offices in both Canada and the United States, Keller Williams has established itself as a powerhouse in the industry. In fact, it has been ranked as one of Fortune's "100 Best Companies to Work For" for 15 consecutive years. Furthermore, their annual sales in 2016 exceeded a staggering $67 billion.
What sets Keller Williams apart is their commitment to supporting agents who want to work for themselves. They offer comprehensive training at all levels, foster a positive company culture, and provide commission and profit-sharing revenue company-wide.
Edward Jones: A Trusted Name
For new agents looking for a trusted brokerage, Edward Jones is an excellent choice. With a great training program, strong support system, and a century-long reputation, Edward Jones is one of the largest and most respected brokerages in the world. They have been helping agents succeed for over 100 years.
Fidelity Investments: A Solid Investment
Fidelity Investments, based in Boston, Massachusetts, is the second-largest mutual fund company in the US. Apart from providing brokerage and retirement planning services, Fidelity Investments offers new agents a wealth of resources to kickstart their careers.
Weichert Real Estate Agency: Learn from the Best
With over 6,500 agents nationwide, Weichert Real Estate Agency is one of the largest real estate companies in the US. Their extensive network ensures that you'll have plenty of people to work with and learn from as you build your business. With experience dating back to 1915, Weichert has earned a positive reputation among consumers and industry professionals alike.
What sets Weichert apart is their competitive commission structure, which is tiered based on the value of the properties you sell or lease. The more you make for your clients, the higher your commission rates. For example, if you sell a $300k house, you would receive a 2% commission ($6k).
Charles Schwab: A Supportive Environment
Charles Schwab offers new agents a supportive environment to thrive in. They provide an array of services, such as a robust training program with webinars and on-demand videos, access to the Schwab Learning Center for 24/7 educational content, and the opportunity to connect with other advisors through social media channels like LinkedIn or Facebook. Additionally, Schwab is known for its exceptional customer service, ensuring quick and efficient assistance whenever needed.
eXp Realty: Embracing the Digital Age
eXp Realty emerged in the wake of the 2008 Great Recession, designed as a low-cost, cloud-based program to flourish in that economy. It enables brokers and agents to conduct their real estate business entirely online. With minimal operational costs, agents benefit from no desk fees or franchise fees and generous commission splits.
eXp Realty offers agents the opportunity to invest in company stock through their revenue-sharing program. They also provide a virtual program for access to training materials, networking with other agents, participating in meetings, and communicating with staff.
TD Ameritrade: A Trusted Partner
TD Ameritrade is another reputable brokerage firm for new agents. They offer a great reputation, extensive resources, and a strong support system. Their education programs and webinars ensure new agents have the knowledge and skills to excel in the business. Additionally, TD Ameritrade provides excellent support systems for those who may need extra assistance or guidance along the way.
Ameriprise Financial: A Well-Established Option
Ameriprise Financial is a large company that has been around since 1894, starting as a life insurance and annuity provider. Today, they offer a wide range of services, including financial planning, banking services, and investment advice. If you want to work in any of these fields, Ameriprise Financial will offer you opportunities. They have an excellent reputation among consumers, ranking number one for customer satisfaction across all major brokerages and product categories according to JDPower rankings in 2018.
NY RENT OWN SELL: Comprehensive Support
NY RENT OWN SELL is an exceptional option for novice agents. They provide all the necessary services such as MLS membership, cutting-edge technology, corporate email, and 24/7 marketing and technical support to their agents. Their comprehensive training program covers all aspects of being an agent, from effective self-marketing through social media platforms to understanding the MLS system. Additionally, agents benefit from a dedicated and free agent website empowered with IDX, allowing them to establish their own identities.
How to Evaluate the Best Real Estate Companies for New Agents?
Making a decision on which company to work for as a new agent is critically important. Consider the following factors when evaluating real estate firms:
1. Reputation
Look for companies with a strong reputation in the local market. Engage in discussions with other agents, read online reviews, and research the company's history and track record.
2. Training and Support
Choose a company that provides comprehensive training and ongoing support. Look for firms that offer mentorship programs, continuous education opportunities, and resources such as marketing and technology tools.
3. Commission Structure
Understand the commission structure of each company you're considering. Look for firms offering competitive commission rates and ensure you are aware of any additional fees or expenses you will be responsible for.
4. Culture and Values
Reflect on the company's culture and values, ensuring they align with your own. Seek out firms that prioritize teamwork, communication, and ethical business practices.
5. Technology and Marketing Tools
In today's digital age, strong technology and marketing tools are essential. Look for companies with a robust online presence, support for social media marketing, and other digital tools that aid in brand building and connecting with clients.
6. Size and Location
Consider the size and location of the company. Larger companies may offer more resources and support, while smaller ones may provide a more personalized experience. Additionally, ensure the company's office(s) are conveniently located for both you and your clients.
FAQs
How do I Choose a New Brokerage Agent?
Choose a new brokerage agent by researching and comparing their experience, expertise, commission rates, services, and reputation. Consider factors such as their location, availability, communication skills, and personality to find the best match for your needs.
How do New Agents Get Clients?
New agents can acquire clients through various methods, including networking, referrals, advertising, online marketing, social media, open houses, and door-knocking. Building relationships and providing excellent customer service can also help establish a positive reputation and attract repeat and referral business.
Which Brokerage is Best for Part-Time Agents?
The best brokerage for part-time agents depends on factors such as their level of experience, goals, schedule, and support needs. Research and compare different brokerages that offer part-time agent programs, flexible schedules, training, and technology resources to find the one that aligns with your needs and preferences.
Final Words
We hope this article has provided valuable insights into the best brokerage firms for new agents. If you're still unsure which one is right for you, don't hesitate to conduct further research and seek advice from industry professionals. Remember, finding the right brokerage is a crucial step towards a successful real estate career.
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