One of the great things about being a real estate agent is that you get to run your own business. While you must hang your hat at a brokerage, you have the freedom to find clients, make connections, and contract sales on your own time. As the agent, you have the overall responsibility to make your business work for you. Part of that flexibility includes being able to switch real estate brokerages if you feel one isn’t meeting your needs. Since it’s your business, you get to choose who you work with and how you do it.
The Steps To Switching Real Estate Brokerages
- First, you are prompted to switch. There could be many reasons for it–you might be looking for better leadership, better training, better lead generation, lower desk fees, or just people you connect better with. Or maybe you are attracted to a brokerage and decide to take a chance.
- Second, you do your homework. If you’ve heard of a brokerage you’re interested in, research it carefully. Read reviews, talk to brokers and agents that work there, etc. And while you’re in the field, “date around” a little. Specifically, check out at least two other brokerages that could work for you so you know you’ve decided on the best one for all your needs.
- Third, make the final decision. Once you’ve done the research and informed yourself on the benefits and downsides of a potential brokerage, make the leap and start the move. Let the broker you are committing to know that you will be joining them. Then complete their application before you move onto step #4.
- Fourth, inform your broker. In order to maintain a professional relationship, you should give your current broker about 2 – 4 weeks notice and stay amicable as you work through the leaving process. Also keep in mind that your broker is the actual owner of the listings you might have on the ground, so tread lightly. The broker could release those listings so you can take them with you to the next brokerage or require you to leave them at the brokerage. In short, you leave empty handed, so know your rights and what you signed in your Independent Contractor Agreement (ICA).
PRO TIP
Download ALL of your leads from any brokerage-owned CRM before breaking the news to your current broker. You never know how they’ll take it.
- Fifth, get ready to start with the new brokerage. One or two weeks before you leave, you should start ordering business cards, yard signs, and other necessities that fit with the brokerage you’re moving to. Also start promotions and marketing plans ahead of time so you have a nice head start when you officially join.
- Sixth, inform your clients. You should use phone calls and individual emails to keep a personal touch. Clients will appreciate that you care enough about them to let them know individually as well as in a professional sphere.
- Seventh, make the switch. As soon as possible, get plugged in to the new brokerage. Engage with brokers and agents and make sure you understand the systems they use, the protocols they have in place, and any other unique aspects of their business. Work hard, be available, and don’t procrastinate. Make sure your new broker can rely on you to do what you need to succeed in your business.
- Eighth, do some mock deals. Before you jump in and start moving for real, you’ll want to make sure you know how everything works and have access to important information such as the MLS, contracts, etc. Get the hang of the brokerage process so you’re truly comfortable with it.
- Ninth, start working! Keep up all your best habits and take advantage of the perks that led you to switching brokerages. Use this new opportunity to become the best real estate agent you can be.
A Quick Pro Tip
Don’t burn any bridges behind you. When leaving a brokerage, it can be tempting to leave it behind and never come back, but you don’t want to get too carried away. You can’t be certain a new brokerage will work out as you expect it to, and you never know when you might need a connection or a referral from old brokers or agents. Do your best to keep on civil ground with all parties involved.
Making The Switch
Are you dissatisfied with your brokerage? Do you need something more to really succeed? There’s no shame in wanting to do better work and see more sales. If you’re unhappy where you are, keep your eyes open and consider switching real estate brokerages. There might be something far better around the corner if you’re willing to take the leap and search for it. Don’t rest easy in discontentment–this is your business, so make it work for you!