How to Choose the Best Broker-in-Charge to Work For
Planning to get your North Carolina real estate license? You’ll want to do a bit of research before you get started. In the state of North Carolina, a real estate agent is actually known as a real estate broker; the two terms are often used interchangeably.
Newly licensed agents in North Carolina are known as provisional brokers, which is the entry-level title for new licensees. This means that although you are a real estate broker, you must be supervised by a broker-in-charge; you cannot operate independently. To remove the provisional status, you will have exactly 18 months from the date you receive your license to complete 90 hours of post-licensing education.
The main key to success in real estate aside from implementing crucial professional skills and strategies, is choosing the best real estate broker-in-charge to work for. Making this decision takes time and research, but is one of the most critical choices you’ll make at the advent of your real estate career.
The broker-in-charge is the highest level of real estate licensure in North Carolina. Finding a broker-in-charge who shares your work ethic, professionalism, and approach to the business will result in a comfortable and compatible work environment, whether you stay with that broker-in-charge for life or eventually branch out on your own.
Find a Broker-in-Charge or Agency to Work For
Similarly to how a consumer shops around for the best property, you should also do the same when pursuing the best real estate broker to work for. Before making your choice, be sure to examine and evaluate the brokerage’s:
- Interior and exterior amenities
- Advertising and other marketing efforts
- Qualifying broker-in-charge
As you explore each aspect of the brokerage, keep notes to help you weigh the pros and cons of each firm you evaluate. This will help you make the best final decision.
Weigh the Amenities
Although you cannot always judge a book by its cover, you should not disregard the first impression created by the physical exterior and interior of each real estate firm. If the aesthetics and atmosphere of a facility do not attract you or make you feel comfortable, consumers might feel the same way.
On the Outside, inspect the firm’s signs, entrances, parking options, and overall appearance. Also, consider the location and neighborhood. What is the size of the firm? There are advantages and disadvantages to affiliating with small one-person shops, large establishments, and every size in between.
As for the Inside, examine the level of cleanliness and arrangement of workspaces and offices. Is the office welcoming, uncluttered, and comfortable? Are there easily accessible private or semi-private areas to discuss customer needs and/or explain and sign contracts? What is the noise level? Are you greeted immediately upon walking in the door? Imagine you are a consumer walking in for the first time; if nobody takes the time to greet you, imagine how potential clients will be treated.
Find out about advertising and marketing efforts
Be sure to check out how the brokerage promotes itself locally through real estate publications, newspapers, billboards, and even radio and television spots. The company’s online presence is also significant. Websites provide you with more in-depth information about the brokerage, including its history, professional affiliations, mission statement, awards, sponsorships, and staff.
Meet with the Broker-in-Charge
If you have an overall positive impression of the company’s location, office building, marketing
efforts, and website, you should also schedule an interview with the broker-in-charge before
making a final decision. A one-on-one interview serves the following purposes:
- You can get to know the professional you might work with
- You can evaluate his or her work ethic and professional compatibility
- You can ask additional questions about the company
Here are the top questions you should be asking:
- How will you be compensated (commission split, salary, retainer fees, bonuses, etc.)?
- What additional benefits are provided, if any?
- What are the broker/company’s professional affiliations in terms of local boards, multiple listing services, and real estate organizations?
- What are the firm’s policies on part-time work and relocation?
- What are the office policies and code of ethics? Are they fair and easy to understand?
- What do the initiation and training programs consist of?
- What are the company’s market share and affiliate income range?
- What is the firm’s errors and omissions insurance policy?
- What other professional activities is the firm involved in, such as construction, property appraisal, and managing rentals?
- What resources will you be provided to perform your duties?
- Which of those resources must you pay for?
- Will you be a regular employee or an independent contractor?
Making the Final Decision
Finding the best broker-in-charge to affiliate with doesn’t have to be difficult. By making sure you get the answers to your questions, shop around, and weigh the responses you get. Ultimately the broker-in-charge you decide to work with will be one of the keys to your success as a North Carolina real estate broker.
Thinking about starting a real estate career?
Sea Coast Academy has helped more new agents pass the North Carolina real estate licensing exam on the first attempt than any other school in North Carolina. To get started today, contact us to sign-up to take our 75-hour pre-licensing course to get one step closer to becoming a licensed real estate agent.