On August 07,2010
In this month’s Real Estate Magazine, the official publication of the California Association of Realtors, an article was published about the size of most real estate companies in California. To my surprise, over 86% of all real estate brokerages comprise four or fewer agents.
How does this statistic affect a new agent?
My recommendation has always been to affix your license to a market leader. In most cases, the market leader is going to be a large organization with fifty or more agents. Most of these larger firms have a systematic training program and scale built up.
This is especially important for a new licensee with very little to no real estate experience. When sitting across the negotiating table with a seller, it’s comforting to be able to lean on what your firm has done to help fill in some of the holes in your own experience.
Besides being able to lean on the accomplishments of your office, it’s also helpful to be in a large office if you can develop synergies within the organization. If you want to to pick up buyer leads by holding a property open, for example, it’s easier to do that when you have 100 agents to approach and hundreds of listing to choose from. Also, being in a large office allows you to learn from the mistakes and failures of colleagues that have been in your shoes before.
Check out this video of veteran Realtor, David Hurtado, talking about how he chose an office to work with when he was a new agent. Also, this video might help you decide on what office to work for.