As I already mentioned, there are many factors to consider when choosing a real estate broker to work for.  However, I feel that all of the factors I mentioned so far can be split into two categories.

1. What will the broker I am working for give to me?

2. What do I have to give to the broker in exchange for being able to work under the broker?

This give and take relationship between a real estate agent and broker not only applies to monetary compensation, but also applies to the resources provided by the broker to the agent.

Real estate is a business.  In business school you learn of a tool called a SWOT analysis which stands for strengths, weaknesses, opportunities, and threats.  A SWOT analysis is an excellent tool to apply to selecting  real estate company to work for.

When comparing companies to work for, ask yourself, what are the strengths and weaknesses of each company that you are considering?  Also, what opportunities does each broker give to you to succeed and how are other competitive brokers in the area positioned as threats against the broker you are deciding to select?

Another part of selecting a broker is knowing what YOU need to succeed in the real estate business.  Success has to be measured by the individual because in real estate you are really working for yourself.  If you don’t generate business, the broker doesn’t suffer, only you do.  Just because a local brokerage company has a lot of listings doesn’t mean that you will automatically succeed when you join up.

So ask yourself, what tools do you need to succeed in this business?  I have compiled a list for you below to get you started.  Adjust this list to fit your own individual business plan as you may feel that some of the items are not necessary for you and you may want to add .

Must Have Real Estate Tools and Benefits

• Error and omission insurance
• Desktop or laptop computer with internet access
• Color printer
• Smart phone
• Professional company branded email address (pros shouldn’t be using name+numbers at free-account dot come email addresses)
• Business phone number
• Business efax number
• Voice mail system
• CRM (customer relationship management) system to keep track of prospects, leads, and clients
• Websites with live MLS real estate property search functionality (and SEO training to learn how to get traffic to your site)
• Real estate transaction record systems (these days everything can be done electronically)
• Professionally designed and printed business cards and marketing materials
• “For sale” signs
• Lock boxes
• Electronic lock-box keys (if used in your area)
• Administrative support staff
• Local MLS subscription(s)
• Some states require you to be a member of a local Realtor(R) board
• Data storage backup solution
• Piers to rely on for support, advice, and collaborative training

Nice To Have Real Estate Tools and Benefits

• Electronic signature solution
• Showings management system
• GPS navigation system
• VPN solution
• Direct deposit for your commission checks
• Company profit sharing plan

What I realized in my search for a company to work for is that these tools are necessary for you to succeed no matter what real estate company you chose to associate with!  So that got me thinking, which companies provide me with the most tools to succeed with the least amount coming out of my pocket on a monthly basis (fixed operating costs) and the most going into my pocket when I close a real estate transaction (highest commission split for me as an agent).

Almost all real estate brokers are commission based compensation (real estate agents are not typically paid a salary unless they work for a property management company).

The rest of my decision making process was easy.  I made a handy spreadsheet for comparing brokers and picked the best ones for me.  As a thank you for visiting my site, I have a link for you to download a blank copy of my spreadsheet so you can use it for your search:

Chris’ blank broker comparison spreadsheet for interviewing local brokers

Feel free to contact me to request a copy of my real estate broker comparison spreadsheet when I completed my search and find out who I picked as my broker.  I would be glad to email it to you, but I cannot post it publicly because the information may have changed over the past 2 years.