As a real estate coach, I often answer all kinds of questions for agents about how they can put their best foot forward and what kind of business practices will help improve their business. Recently, I have received many questions from agents about which real estate brokerage is right for them. Here are some of my suggestions for the best ways you can interview brokers to ensure you find the best fit for you:

Ask lots of questions and be an active listener

This is basically like a job interview, but in reverse. You’re interviewing potential stockbrokers the same way companies would interview prospective job candidates. This may seem a bit strange at first, but asking the right questions will give you a better chance of selecting the company that suits your needs. Any good broker will appreciate this professional approach and will be impressed that you are exercising due diligence.

You also want to be aware of where the company stands. They should consider that its value pays its cost, if any, to incorporate it into their company. An agent, on the other hand, needs to assess what they need from a brokerage to be successful.

Here are some questions you should be prepared to ask potential brokers:

Some interview points to consider

* Ask them what they look for in an agent. This is an important question. Some “assembly line” brokerages don’t really care who they buy, and just want lots of numbers, with the idea that each person they recruit will have at least one family member or friend using their services. Conversely, brokerage houses looking for brokers with specialties, a minimum turnover, a broker’s license, or other unique qualities and characteristics may be favorable to some brokers. It’s better for you if they’re a bit picky.

* Many management brokers are selling houses, and not necessarily in the office. If that is the case, you should find out if there is an alternate person available to help the agents. A leader who sells may not be a good environment for you if you are looking for guidance. Be sure to ask what the response time is if an agent calls with a question or you need to submit something for review.

* Most offices have some sort of weekly or bi-weekly in-office training, regular sales meetings, and internal walkthroughs of new listings purchased by agents in that office. Find out how often these meetings, trainings and house tours take place and if it’s part of what they do. This is important for some agents, while not for others.

* Find out if there is an organized tutoring program. If so, under what circumstances will an agent have to participate or volunteer? Will participation be based on time in business or sales volume? Also, find out what the financial arrangement is for mentors and mentees.

If there is no organized mentoring program, find out if someone is available to help a new agent learn the real estate business.

* Find out what the commission schedule is and request a copy. Make sure you understand it because you will be paid according to this schedule. Also find out if there are tiers to that commission program based on your sales performance. Find out how this office deals with sales bonuses.

* When considering the costs to your business, it is important to find out what types of marketing materials are available from the brokerage for an agent to use. Some brokerages have marketing departments that will help you build your brand, assist you in creating your own pieces, or at least customize what the company already has, while other brokerages leave you completely alone in terms of marketing. It’s also important to ask about reimbursement for your marketing materials, including business cards.

* The number of agents is not as important as the support for them. It could also be a possible indication of the quality of the office based on how many agents are full-time or dual-career. Find out how long agents have been in this office and why they are leaving or staying. If this brokerage is 20 years old, but the average broker has only been here for 2 years and also has another full-time job, this can be a huge red flag that the office lacks a productive office atmosphere.

* E&O coverage means “Errors and Omissions”. This is an insurance coverage that the agent has to pay annually. This protects agents against any unintentional errors or omissions they may make when working with a consumer. Some companies pay for this insurance through the agent, but it is rare. Find out what the brokerage’s policy is.

* If a brick and mortar office environment is important to you, find out if there is a space for you to walk into the office and use as a work area. Depending on the company, office space may be available for rent or only to major producers. Conference and meeting rooms should be available for everyone to meet with clients. Find out what office equipment is available for agent use in the office. Today, with internet and cloud-based systems, you can do your business from anywhere, but some agents prefer to work in an office environment rather than work from a home office. Essentially, it’s up to you. You’ll just need to consider where you’d prefer to meet with your clients and what type of environment works best for you.

* If you prefer an office that is traditional, the more professional it is, the better. Check if there is a receptionist and if any phone work is required (from you). If so, check if there are statistics on the results of the telephone service concept in that office or if it really is just a replacement for a paid receptionist.

* Office listings and market share percentage will tell you how productive an office is. A busy office is good for phone work, open houses, and synergy. Having the best agents in the office with well-earned designations like Lifetime Top Producer, CRS, or CRB, and others who took some time to earn and are respected in their field is a mark of a good office that keeps top quality people. . Ask what the average annual income of an agent in the office is. A top agent is traditionally defined as someone who makes a certain amount of money per year (Example: a minimum income of $100,000 or someone who has 15+ listings in a calendar year). An office market share of more than 70% is excellent. To be the best real estate agent, you need to be surrounded by quality. If your brokerage has 100 agents, only 30 listings, and ranks 10th out of 10 for brokerages in your area, this may be a place for part-time agents or people exploring real estate as a hobby.

* Each state requires a certain amount of CE, or continuing education. Does the company provide that online, in the office, or not at all? Many brokerages now offer free online CE training available to their brokers.

* It is required that every brokerage house and office have an office manual and that every agent has a copy of it, either on paper or in electronic format. Make sure you know what the important policies are, like the procedure for splitting compensation on deals that haven’t closed yet, in case you decide to walk away.

* Most real estate agents are Independent Contracts and not Employees. What is the composition of your brokerage?

* Does your brokerage give back to the community or support agents in need? Some brokerages will provide financial, emotional, and physical assistance to brokers experiencing disaster, illness, or catastrophe. If something happens and you’re out of a job for a few months, will your brokerage step in and help you pick up the pieces? Will they help your family? It may be important for you to find a company that has a good reputation among the community and has great respect for their agents personally.

* Interview the agents in the office and discover the answers to some of your questions. This is where you can get the real picture of the office climate and what’s going on there that may not fit with you.

Make the decision that works best for you

In addition to the suggestions provided, think about the work environment in which you thrive. You should also consider your strengths and which riders will make use of your talents or just pigeonhole you into their protocol. For example, if cold calling isn’t your thing, it wouldn’t be the best use of your time to go to a “cold calling” pizza night at the office.

The most valuable information I can give you is that you make the decision that works best for you. Every agent is different and has unique requirements.

The final decision

Make a list of pros and cons for the top three agencies you have selected. Ask yourself these important questions… “Which company gives me the support I need?” and “Which of the companies can I build a lasting relationship with and why?” Talk to the important people in your life who can help you make a fact-based career decision. Family and friends are wonderful if you go to a barbecue, but this is a decision that should be made based on what is best for your business. I use my CPA and business planner as well as some professional relationships to help me with vital business decisions.

This article was originally published through the Cindy Bishop Worldwide blog site.