Why finding the right broker is like searching for a home

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When deciding on a brokerage to work with there are many things that a real estate sales representative must consider. Realtors should undergo thorough research prior to making any commitment with a new brokerage.

“Searching for a brokerage is a lot like looking for a home, it must feel right,” says Rebecca Himelfarb, Head of Recruitment at Forest Hill Real Estate. “The search should begin with looking online to ensure a brokerage reflects their core values, are located within the market they are interested in servicing and provide excellent training, mentorship and support.  These factors are all truly valuable to a new realtor.”

Himelfarb then encourages Realtors to narrow down their search to two or three suitable choices. From there, they should reach out to the brokerages and book a meeting with either the branch manager and/or the head of recruitment.

“This face–to-face meeting is crucial, it is how Realtors will learn the most about their prospective work place environment,” Himelfarb says. “Realtors should look for a strong brand with a good reputation in the area where they hope to work. They should strive to be part of a collaborative environment where they can receive training, coaching and ongoing support. 

“A brokerage reflects its management, support staff and its sales team and it is important that a Realtor can visualize themselves working with the existing team to launch their career.”

Realtors should also enquire about on-the-job training, growth opportunities, advertising, marketing material, market information, the availability of computers as well as other important technology. “Realtors also require staff with varied expertise to support their career goals,” Himelfarb says.

Himelfarb believes that working at a solid and established real estate company will help Realtors navigate changing markets and prepare them to weather any storm.

“Our current real estate market is being impacted by two new and highly influential factors. Specifically, they are The Fair Housing Plan and a steady rise in Bank of Canada interest rates,” Himelfarb says. “A good real estate company will present their Realtors with professional guidance from experts in related fields such as lawyers, financial experts, or mortgage brokers who can help them learn how to best represent their clients and facilitate transactions in a changing marketplace.”

Download this industry white paper to find out more about identifying the right brokerage for you.