THREE REASONS TO FIRE YOUR CURRENT BROKER: KNOWING YOUR VALUE AS A REALTOR®
by D'Andrea Pelletier
As we head into 2017, it's very clear that technology has dramatically changed all aspects of the real estate business, but most brokers aren't keeping up with this ever-evolving industry. Traditional brick and mortar real estate firms fail to recognize their role in success of their agents, the broker's clients. YES! You are your broker's client, not their employee. After all, you got your license to be a MASSIVELY successful entrepreneur, and you pay your broker to provide a service to achieve this. There are FAR too many companies in the real estate industry to hang your license with a SUB-PAR company that doesn't provide you the basic necessities of a real estate entrepreneur that only a broker can provide.
Here are three reasons to IMMEDIATELY fire your current broker.
1. Your broker takes a high-commission split. Let me be clear: no brokerage is worth 10, 20, or even 30 percent of your hard-earned commission. The majority of franchise-owned brokerages take a significant percentage of your commission because it was the standard in 1995. Fast foward 22 years, mobile-based business and coffee houses have almost completely eliminated the need for physical office space. Most closing happen at your title companies' office, and floor-time is obsolete with lead generation platforms like Zillow and Trulia. So why do you give your broker so much of your money? The simple answer is: brokers have been able to get away with it because we've accepted less than we deserve.
2. Your broker gives NO OPTION to get paid at the closing table. There is nothing more frustrating than giving a portion of your commission to your broker, and have to wait 3-5 business days to be paid after a closing. While the industry is changing little by little, the traditional transaction process creates a natural bottle-necking system that gives the broker all of the power, and leaves the agent asking permission rather than empowering us. There are many title companies in the state of Florida that offer commission checks at the closing table, many times straight to your bank account. Brokers that do not give their agents a disbursement authorization option to their agents are simply not keeping up with the speed of technology and business, and they unnecessarily micromanage your money and your time.
3. Your broker doesn't provide content training. I'm not talking about "how to write a listing agreement" average training. (That's what you hire licensed transaction coordinators and virtual assistants for). I'm talking about PHENOMENAL, social media based, mindset, motivational, entrepreneurial training jammed packed with tools to eliminate and automate the paperwork, so you can be the best damn agent in your niche. This is a world where successful businesses are based largely on social media engagement, where perception is crucial to your brand. Why was the movie, "The Wolf of Wall Street" so popular with entrepreneurs? One word: mindset. You MUST be fueled with success consciousness to succeed and sustain in this business, and know how to be a key player in the real estate industry.We shouldn't need to pay Tom Ferry $1000+ to get your mindset right, that's what a brokerage should be for. If you have to pay someone else besides your broker to accomplish to help you acquire the right mindset, your broker isn't doing their job.
Broken systems and ineffective management such as these call for a new wave of entrepreneurship to shake up the world of real estate.
Follow Me Realty is a brokerage for entrepreneurs focused on the mindset needed to be a phenomenal real estate professional. The only way that this industry will change is if we stop taking less than we are worth as business owners. If you’re looking for a new real estate brokerage that NEVER interferes with your business or brand and gets you paid at the closing table, join us today.