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There is no bigger decision for a real estate agent then deciding to shed their real estate agent skins and become real estate agent brokers. Becoming a real estate agent broker is the dream of most every real estate agent.
Real estate brokers can hire real estate agents. They run their own real estate agent companies that allow them to make their own names in the real estate agent industry. In real estate, becoming a broker means that you’ve made it.
But, You Can’t Become a Real Estate Broker if You’re Not Ready
Going independent, becoming a real estate broker might be the biggest trophy in the industry. However, just because you’ve secured a real estate broker license, it doesn’t mean that you’re an actual real estate broker.
Check out what you’ll be lacking once you do decide to shed your real estate agent skin for a real estate broker skin.
You can’t lean on a real estate agent company
Most everyone in the United States knows who Re/Max is. After hearing the words Keller Williams, most people in the U.S. immediately think of houses.
Keller Williams, Re/Max, Coldwell Banker are known companies. They’re known as being real estate companies. When you shed your real estate skin, you won’t have the luxury of putting the words Coldwell Banker onto your business cards.
Once you decide to become a real estate broker, you don’t represent anybody but yourself. That means you can’t lean on the name of reputable real estate companies like the ones above. They don’t have your back. You must have your back.
You might end up competing with your former company
Not only must you have your back, you must also understand that once you become a real estate agent broker, you inevitably end up competing with your former company. The reason is obvious. Your former company is in the business of hiring real estate agents. So are you.
Your former company is in the business of selling houses and finding houses for buyers. So are you. Your former company strives to be the best at what they do. So will you as a real estate broker.
Financial considerations are huge
You pretty much run your own business as a real estate agent. As a real estate broker, though, your financial considerations are much higher than what they were to run your real estate agent business. Those financial considerations include having enough money to hire real estate agents that work for you.
You must keep these things in mind before becoming a real estate broker, or, at least, before starting your own real estate company. That doesn’t mean you shouldn’t consider getting your real estate agent broker license. Getting your license is the first step towards true independence. Being cautious about when you actually go independent can be the difference between building a successful real estate company and one that’s not successful at all.