Working for a Personal vs. Franchised Broker
It’s an exciting time: You’re starting a career in real estate. While there are many decisions to be made as you begin in the real estate industry, one vital decision is choosing a real estate job with a personal broker vs. a franchised broker. You won’t be surprised to find each path has its own unique benefits and drawbacks. Consider working for a personal broker or a franchised broker, and make the decision that is best for you and your family. As you consider which is best for you, here are a few ideas to help you make your choice:
Working for a Franchise Broker
When you choose to work for a franchise or chain broker, you enter into a system that offers an existing, known brand name, as well as a professional training program. Neither of these benefits should be overlooked. An existing brand can help your listings capture more attention, and a formal training program can be the difference in your career skyrocketing vs. fizzling. Real estate jobs with franchised brokers may offer more resources, too, including better technology, a strong referral network and a larger inventory of listings than a personal broker.
All of that said, you’ll enjoy less flexibility and creativity when working for a franchise broker. You’re entering into a proven system, and you’ll be expected to operate within that system. You may also feel limited by what you’re allowed to do with the brand in marketing. Costs and initiation fees may be higher than with a personal broker, and you may find you have less access to decision-makers and less input.
Working for a Personal Broker
Just because you choose a personal broker doesn’t mean you won’t enjoy a strong brand and name recognition. In fact, many local brokers are the preferred service provider over franchise brokers in certain areas. If you can find a personal broker with a strong brand, you will enjoy that existing brand equity as well as lower costs for agents and perhaps greater input and accessibility to decision-makers. The right personal broker is seen as a local authority when compared to larger, nationwide chains and franchises.
However, you may also find that a personal broker has fewer resources, including advanced technology, listings inventory, training programs and more. While you can find a situation that includes wonderful guidance and mentorship, that’s not always available through a personal broker. Many personal brokers also have set ways of doing things, and you may find that that set way isn’t necessarily what you think is best for you.
Learn More About CENTURY 21 Core Partners
At CENTURY 21 Core Partners, we’re always looking for talented individuals to join our team. We recognize that a franchise isn’t right for everyone, but we invite you to learn more about our approach to developing successful agents and to providing the best possible service to homebuyers and sellers in the York area.
Contact CENTURY 21 Core Partners about working in the real estate industry.