With the recent consolidation of major commercial real estate brokerage firms and the on-going acquisition of independent firms by national players, many individual brokers and agents are taking the time to evaluate their personal careers and deciding where to hang their license.
There are a variety of factors to consider when aligning yourself with a particular firm. Many incorrectly assume that the best commission structure is the number one factor when determining which firm to work with (never for). Several, non-monetary, elements impact your ability to succeed in commercial real estate and each should be considered when determining which firm is the best fit for you.
For example, some firms are the least aggressive on a pure face value. However, these same firms may, although not necessarily, offer several resources that will assist you in reaching your potential, when compared to an independent firm or more locally-focused national brokerage organization.
Several mid-tier national firms offer more aggressive commission splits than their top counterparts; however, they may not have as strong the institutional client relationships, if this is a niche you are looking to pursue.
When determining the firm that best fits you, I would suggest you consider these 10 factors, the significance of each factor is up to you and not just the best commission structure.
Culture (Entrepreneurial vs. corporate)
Opportunities to get involved in deals you couldn’t get on your own
Team Environment (Scalable vs. integrate vs. none)
What is most important to you?
Let us know by taking our Massimo Group Annual CRE Brokerage Survey. We would love to hear from you. If you share your thoughts with us in this short survey, we will provide you our new prospecting cheat sheet that will help you propel your business in 2016. We will be sharing the survey results in our annual State of Commercial Real Estate Brokerage Address on Tuesday February 2nd at 12 PM Eastern. Click here to watch the State of Commercial Real Estate Brokerage webinar recording for our survey results.