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If you are a Real Estate Agent you know that you work in a high attrition industry. Realtors jump from team to team, brokerage to brokerage CONSTANTLY. In search of more money, more support, better culture, etc.
If you are starting to feel that it may be a time to make a change to take your career to the next level I am here to tell you THAT IS OK. I have been there and made several moves throughout my Real Estate Career and I know how stressful it can make you feel and how torturous of a process it can become. Knowing and Deciding where to set your roots is very hard and a major decision. One that can hinder your career as much as help it if you are not careful.
Everyone wants to make good, confident decisions based on the right information and keep it evidential and not emotional but sometimes its hard to see the forrest through the trees.
Many Realtors make knee jerk emotional decisions that end up costing them in the long run or prevent them from making huge leaps forward in their businesses.
Imagine making the decision based solely for the money, but finding out after making the move that you are misaligned culturally? Or, you are in such hurry to get out of a toxic environment that you end up in a place taking too much of your income and not matching it with the appropriate amount of value.
Fortunately, there’s a process to avoid a poorly timed career move, by auditing 4 key Metrics of your current team or brokerage and how your individual book of business is currently there..
One, start with MONEY because, while Money isn’t the only factor, there has to be alignment between what you’re paying out and the value you’re receiving or you’ll get stuck feeling slighted. You want to document everything you pay out to your current company and/or team from commission splits all the way down to the printing costs.
After auditing what you’re paying out, you want to look at the other 3 metrics , which speak to the value you’re receiving in return.
Number two, services. Take inventory of what services you’re receiving in return for the money you’re paying out. Are you getting transaction support so you can stay focused on your clients and filling your pipeline of business? How about technology and marketing, what help are you getting to systemize, automate, and expand YOUR brand?
Three, training. Constantly learning can be the difference between mediocrity and greatness. The market is ever changing, what is being offered to ensure you, your business, and the clients you help stay ahead of this fast paced market?
Fourth, culture. Nothing is more draining and more of a distraction than a disconnect between you and the ecosystem at work. Is there strong leadership? Is that leadership present? Do you have access to that leadership? How accessible and collaborative is the agent community, especially with the top producers? Do you feel supported and heard? How enjoyable is it in the office setting? Does your Team Leader or Broker care more about their own success or yours? Is the business set up to make the team leaders life better or Yours?
I look at the 4 of these like gears in a watch, they must be turning congruently in order for it to work and, if one is even slightly off, it might be time for a change.
The point of this audit is to determine exactly how much of your hard earned are you paying to your current team/brokerage and evaluate if the services, training, and culture justifies that amount. If yes, you’re probably in a great place. The grass is not always greener! Be Brutally honest with yourself!
If the answer is no, it might be time to start exploring other options and you can use this audit as a filter / interviewing tool when you begging speaking with other teams and brokerages. Remember, whether making a switch is right for you now or not, like consulting your clients, it’s about having the right information so you can make informed, confident decisions.
To help you out and streamline this career evaluation, fill out the quick form below and a blank audit form with all of these questions will immediately and confidentially be emailed to you.