Are you joining a new real estate brokerage? No matter how many years you’ve been in real estate, from a brand-new agent to an agent closing 25 or more transactions a year, there are still three main things to focus on when moving to a new brokerage:
- Continue growing your business.
- Learn how to operate your business.
- Network like crazy.
Now, let’s take a closer look at what this means for you.
1. Continue Growing Your Business
It’s absolutely ESSENTIAL that you continue to grow your business while transitioning to your new brokerage.
Typically, agents will decide they want to transition as soon as they finish whatever transaction they’re currently working on. They’ll sit in limbo for two or three weeks, waiting to complete the transition and scared to get any more clients under contract because that’ll delay the move.
The thing is, if you stop running ads, following up, and nurturing leads during this time, you’re not going to notice the issue right away. Your failures now are going to come back to bite you in about 60-90 days when you’re in full swing with your new brokerage but suddenly have no pending contracts or active clients.
At that point, you may immediately jump to blaming the brokerage…but the truth is, that delay is your fault! You failed to keep your business going during the transition and brought it to a screeching halt. It wasn’t the brokerage…it was you!
When you decide to change brokerages, don’t stop moving your business forward! Keep adding leads, following up with potential clients, and attempting to close business.
There are ways to transition your book of business to another brokerage in what I call “incognito mode.” If you want elaboration on that, just let me know…I’ll write about it if there’s enough demand.
2. Learn How To Operate Your Business
The second thing that is pivotal to your success in a new brokerage is knowing how to operate your business. This especially applies if you’re already successful and have a healthy book of business.
Every brokerage does things a little differently, so you need to ensure that you’re on top of making the changes necessary to operate well under a new system. As quickly as you can, learn the ropes of your new brokerage.
Find out where you go to get your contracts. See if there are new disclosures that you must send out. Check if there are certain documents you don’t need to send anymore, which will then be followed with you learning where you’ll go to get digital signatures. And lastly, find out where to submit all executed documents for review.
For example, if you’re part of our Agent First Group here at eXp Realty, you’ll be required to write a contract the very first week. This includes getting the contracts, opening a transaction through Skyslope, reviewing the requirements, and making sure you can operate your business through the new system without a hitch.
There is nothing more frustrating than KNOWING what needs to happen but not being able to execute it. So, as soon as you join your new brokerage, take the obvious but somewhat mundane steps of making sure you still have MLS access, ensuring your key still works, etc. to ensure you can run your business smoothly going forward.
3. Network Like Crazy
This third step is something that 99% of agents joining a new brokerage fail to do—it’s to network with new fellow agents.
The moment you join a new brokerage, you need to get to know your broker, admin staff, accounting staff, other agents, etc. This is especially important in larger brokerages where you have a huge supporting cast that may see you as only a number until you get to know them.
When I joined eXp (which is a fully virtual brokerage), I made it a point to learn who the brokers were because I recognized that I may at some point need help with transactions or need to ask for future favors for my agents. So, you should be doing the same, again…especially in large brokerages because brokerages will treat you like a number IF you let them.
As a new agent (to the brokerage), you must do the same. Network like crazy! Get to know the supporting cast and other real estate agents so that when questions come up or you need advice, you know where to turn immediately.
Join a New Brokerage Successfully
Are you ready to start joining your new brokerage yet? As you head into the new system, keep these three things in focus:
- Continue growing your business.
- Learn how to operate your business.
- Network like crazy.
If you do, any brokerage switch you make will go drastically better and you won’t find yourself with buyer’s remorse. You’ve got this!