January 31


Top 3 Reasons Why a First-Year Real Estate Agent Should Own a Real Estate Brokerage

Owning a Real Estate Brokerage as a First-Year Real Estate Agent

New to real estate and unsure of your next steps? Here are the top 3 reasons why you should look into owning a Brokerage as a first-year real estate agent.

You're at the start of your career. And as a new real estate agent, you have to ask yourself some big questions about your career and your future. For example, "Should I own a real estate brokerage?"

What you might not realize is that owning a real estate brokerage might just be the smartest decision you could make as a first-year real estate agent.

Not sure where to begin? No worries! Here's a look at what it takes to own your own real estate brokerage and why it might be the right choice for your career.

What Goes Into Owning a Real Estate Brokerage?

A real estate brokerage is a middleman company between real estate buyers and sellers. It helps both sides of the equation and assists a client in finding buyers or leases or (on the other side of the equation) a property to purchase. A broker is not to be confused with a real estate agent—a broker can act as an independent agent of a client, while a real estate agent has to be employed by a licensed broker.

Running a brokerage is similar to running a startup company. You'll need several things that a real estate agent wouldn't, like a business plan and marketing strategy. You'll also need to build your own real estate team to help you manage deals.

You become your own boss, but that also means that you have to put in the legwork to build your business. In other words, you're going to work a lot of long hours, especially in the beginning, without guaranteed reward.

In order to become a broker, you'll need to acquire a real estate broker's license. You'll have way more knowledge than the average agent, which means you'll be able to train and manage agents.

Benefits of Owning a Real Estate Brokerage

There are several benefits to owning a real estate brokerage. For one thing, you get the benefit of a broker's salary, which is much higher than a real estate agent. As an agent, you can earn more by selling more, but as a broker, you automatically earn a higher commission. Plus, if you manage a team of agents, you'll get commissions on their sales.

Another key advantage is being your own boss, with the flexibility to call the shots. If you don't like the way a real estate business is run, you can structure yours into a more successful model.

Is Owning a Real Estate Brokerage Worth It?

Ultimately, deciding whether or not to start your own brokerage comes down to whether or not you're ready to be your own boss.

Remember, it's more than just calling the shots. It's about taking responsibility for all aspects of your business, including the failures. It also means being smart with your time and resources so that you can manage your business effectively. If you're ready to lead and know what it takes to run your business, it might be time to start your own brokerage.

Ready to Kick Off Your Career as a First-Year Real Estate Agent?

If you're ready to take big steps for your career as a first-year real estate agent, we're ready to make it possible.

Here at Broker Breakup, we offer affordable broker sponsorship with options and plans that make it that much easier to get your career off on the right foot. And with activation in less than 24 hours, you don't need to wait to get your life going. So if you're ready to build your professional future, check out our available plans today.

posted January 31, 2022

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