Don't sign until everything is fine!
Finding the right broker for your next career move is an important step and not something you should take lightly. There can be some big differences between the types of brokers out there, in terms of commission split, expectations and culture.
That’s why, as the number one real estate franchise, RE/MAX is here to answer seven of the most pressing questions you should be asking any potential broker before you sign.
1) What are the commission splits?
RE/MAX Agents can expect to receive a 50% commission split with their broker. In fact, the name RE/MAX actually stands for real estate maximus. This was inspired by the belief that all real estate agents should get a fairer commission split.
2) How do you retain your top performers?
One of the biggest problems for both brokers and agents across the real estate industry, is that after a while top performing agents outgrow their office and move on to start their own businesses. In doing so they take other top performers or intermediate performers with them.
With RE/MAX agents experience true entrepreneurship and are given the opportunity to run their own business as they like. With a favorable commission split, the flexibility to have a perfect work/life balance, and the ability to control their own income, top performers are incentivized to stay.
3) How will I be on-boarded and how soon can I be productive?
RE/MAX offices have a rigorous on-boarding process where no new agent is left behind. This on-boarding training is called RE/MAX Compass and is designed to get new agents up and running in a matter of weeks.
Offices also implement a mentor system, whereby new agents are paired with top agents, shadow them, and learn by doing from the best. Once an agent has been fully trained, they are assigned an area in which they will operate and given some initial, achievable targets.
4) What career paths do you provide?
As well as experiencing true entrepreneurship, there are also a number of attractive career options within the RE/MAX network, depending on ambition and life goals.
Agents who want to become more productive and improve their customer experience can take advantage of training programs such as RE/MAX Accelerate training. Agents looking to take on more responsibility, but not leave their current office can benefit from the RE/MAX agent team training. Those looking to move on and become an office owner themselves can form a partnership with their current office or help expand the office into an office group.
5) Am I expected to create all my own marketing materials?
As well as excellent training programs and regular sharing of best business practices from over 100,000 agents worldwide, RE/MAX also offers its agents pre-prepared and fully customizable marketing materials.
Many RE/MAX offices also have an in-house marketing team to provide dedicated support to their agents. This means RE/MAX Agents have more time and energy to secure new clients and provide existing customers with excellent service.
6) How do you make sure productive agents are recognized?
One of the most fundamental parts of keeping top performing agents happy is to make sure they are recognized. Offices with a comprehensive and respected recognition program see much happier agents and higher productivity. Want to know more? Check out our blog post on creating an effective recognition program.
RE/MAX Europe also recognizes top agents and brokers through its converted Ambassador Program. More information on RE/MAX Europe’s Ambassador Program can be found here.
7) What is the culture like and what values do you have at your office?
One of the most important contributors to high productivity and a happy working life is a good agent/office culture fit. There can be many potential points of conflict within an office which can lead to a negative atmosphere. Unlike traditional real estate offices, RE/MAX office owners are not focused on day-to-day agent activities, and therefore have more time to recruit the right people and create an excellent office environment.
This is managed through regular out of work events to encourage bonding, healthy competition within the team to increase productivity, and promoting agent cooperation to make sure the whole team wins together. As non-productive agents often move on within three months, a team of motivated agents remains.
Find your perfect place as a RE/MAX Agent
By relying on the three main pillars of the RE/MAX name, worldwide network and unparalleled support, you will find flexibility, community and purpose as a RE/MAX Agent. Take the next step in your career today and get in touch with your local RE/MAX office to learn more. Alternatively, check out the RE/MAX Europe website for more information.