When you work as a real estate salesperson or agent, you may want to change real estate agency from time to time. Your reasons for doing so may vary but the considerations in changing employer should be carefully considered. There are many issues to look into.
When you change employer you are pulling Newport Residences Price yourself backward in market share and branding. At the very least it takes 4 to 6 months of prospecting to rebuild your brand in another agency. Is the changeover worth the trouble? Maybe so, but consider all the issues before you move across.
Here are some other ideas to bring into your job change decisions.
- Don’t assess your relocation solely on commission or income. Behind your income potential you will have the differences in administrative support, database retention, desk costs, marketing, leads, and distribution of office opportunities.
- Who or how will risk and insurance be handled as part of your employment? Do not expose yourself to unacceptable levels of risk and liability. From time to time you will make the occasional error so understand now where you will stand as to insurance.
- Look at the way the commissions and salaries are worked out for the sales team. Some salaries and performance thresholds are quarterly based; others are annually based, and most have reimbursement requirements. Consider the seasonal sales and leasing factors that will apply as you re-establish your market.
- Who will own your database of contacts and how will it be maintained? You should already have a significant database of leads. Can you take this with you when you change agency? If this ownership of data is an issue for you, keep your contacts on a personal database platform such as Google contacts. Do not bring your database into the office. Can your database be seen by other agents in the office? It is an interesting question.
- How will your listings be shared around the office if other agents and salespeople have contacts that can be introduced to the listing? As a general rule, if you introduced the listing to the office and if the client is your client, you should maintain the client relationship and be the ‘front person’ on the deal and negotiations.
- How are commissions split in sales and leasing situations? Ask about all the variances that could apply. Once you sign the employment agreement, the rules and arrangements are set.