Being in control of your destiny is powerfully appealing. It is only natural for entrepreneurial-minded agents to feel the itch to take more control in their career by adopting the role of a broker. This can be especially true for those that have already graduated to being a Team Leader. However, even the most confident and experienced Team Leaders can have doubts about whether now is the right time to take the leap and get their broker’s license and open their own shop. If you have ever considered taking on more leadership in your real estate career, this article is for you.
What Makes You Want to Take the Next Step?
Before taking this next step into your real estate future, it is important that you take the time to ask yourself why you’re doing it. Be honest. Do you have an idea for how you might run a brokerage? Have you always wanted to have a business where you are in a leadership role? Do you like the idea of being able to pass along your expertise in a mentorship capacity? Do you have the desire to invest in something and watch it grow and prosper? Or maybe you’ve mastered being a Team Leader and are looking for the next stepping stone of success.
It is important to be clear about “your why”. Let’s face it, a Broker/Owner’s life is going to be very different from an agent’s life. You can’t effectively build a business and be an agent at the same time. You will gradually need to take yourself out of the selling game. Likewise, you’ll need to replace the things that used to motivate you as an agent with new sources of motivation – like building a successful team, fostering a positive culture, investing in your agents and getting the satisfaction of seeing them succeed, and most importantly, watching your business grow and flourish within your community. Your motivation has to come from your love of the business, your love of people, the enjoyment of taking a leadership role and wanting to build something with that.
Do You Have the Experience, Drive, And Resources?
Most broker/owners were above average earners as agents for a number of years before they decided to take the next step. This experience is important, but to become a successful broker/owner will require letting go of many of the common activities of agents and writing a whole new job description for yourself. As a real estate broker you now need to be thinking about recruiting, team development, education, technology selection, agent training, marketing resources, lead generation and office management, to name a few.
It can seem like a big task at first, but with the right recipe to follow, the right resources and a support team in place to guide you, you’ll be well-positioned for success. For example, the franchise service team at Weichert has worked with brokers of varying levels of experience. They’ve demonstrated how a system of proven processes and intensive training and coaching opportunities can help almost any motivated realtor write their own success story. Add the power and resources of a national brand and most individuals find that their move into broker, is a natural step when they choose a partner like Weichert.
Can You Afford to Stop Selling?
One of the biggest challenges that real estate agents making the transition to broker will face is to quit selling houses. It is the job of the agent to sell houses, but it is the job of the broker to facilitate and support the work of agents…and build the team. This requires a time investment. Our business consultants will help coach you on how to make the transition from agent to broker/owner. However, you need to be prepared mentally and financially to take yourself out of the selling game if your brokerage is to have a chance at growth.
The Value Of Guidance For Newbie Brokers
Just as you faced a unique set of challenges requiring guidance and support as an agent, you will face a new set of challenges as a broker/owner. The difference is that when you were an agent you had a built-in support system. That isn’t the case for broker/owners that choose to operate independently. Should you choose to align yourself with a powerful franchise like Weichert, however, you’ll not only benefit from our proven systems, tools, educational materials, and lead generation but also our supportive network of other owners across the country who have been in your shoes. Not to mention, our expert coaching and service team is there to support you with each step. They have seen it all, and you will never be at a loss for what to do next. Not only can franchising reduce the fears and minefields of new brokerage ownership, but it can also speed to the road to business growth.
If you would like to learn more about how Weichert can help you fulfill your dream of brokerage ownership, go to www.weichertfranchise.com.