There are so many questions that could run through your mind if you are considering taking the leap from Agent to Broker. Here are just a few that came to mind easily.
- Am I comfortable being responsible for having agents employed under me?
- Can I provide them with proper training?
- Am I set up to provide a remote (post-Covid) virtual office setup?
- Are computer/data security enhancements in place?
- Am I comfortable leading a team? What support and mentorship can I bring to the table?
- Does my business provide cutting-edge technology to automate and manage all aspects of the deal process?
- Do I have the patience, passion, and perseverance to manage multiple agents whilst working on my own deals?
- How much will it cost me?
- Is this really the right time to make this move?
- Is there anyone I can rely on to mentor/hand hold me through any teething problems I may have?
If you come up with others, be sure to leave a comment. Likewise, if you can offer would be brokers advice based upon the market conditions in your area, I’m sure some readers will be very grateful.
There Are No Blanket Answers
I’d love to be able to answer your questions for you. But most are, of course, deeply personal.
I can also assure you that depending on the market you work in, now may just be the perfect time to start your new business. Certainly, here in the Phoenix area, the property market is keeping me very busy! But we all know that things aren’t so great in every market.
This article on daveramsey.com is helpful in determining overall market trends. Of course, you really need to understand what’s happening where you are. But the one positive for every market is that interest rates truly are at historic lows – this is not rhetoric.
You may also want to read: What Traditional Agents and Brokers Can Do In The Age Of Low-Commission, Fast-Closing Apps
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