Thinking about switching brokerages? Weigh the Pros and Cons.

Thinking about switching brokerages? Weigh the Pros and Cons.

Change. We all crave a little uncertainty because it can lead to adventure and more opportunity. But changing real estate brokerages should be a business decision, not an emotional one. It is not a decision to be taken lightly.

First, if you are thinking of making a change, ask yourself:
What is the end goal of making this move?
Is this a financial move or am I looking for better leadership?
Do I want to find an office that fits my personality more?
Is location my concern?

Once you have decided the true reason why you want a change and have identified what is most important for you, analyze your current brokerage- what do you love about it? What could it do better?

If you decide a move is necessary to take your business to the next level consider these pros and cons.

PROS

1) Energy

Starting at a new brokerage and learning new tips and tools can put your mind in a creative state which is exciting and fresh. It may allow you to be excited to sell houses again, especially under a new brand.

2) Leadership

Having a fresh perspective and a new voice of leadership may fuel your prospecting and reach within your sphere. Obviously, excitement is contagious and your clients will feel it.

3) Environment

A new environment and new relationships with other agents will allow you to explore more opportunities and hear new perspectives. Your new environment will allow you to move outside of your comfort zone to find success.

CONS

1) Client Confusion

In any transition your clients may lose track of where you are. They may become disoriented when searching for you online or show up at the wrong office.

You can shift the confusion by taking the opportunity to over-communicate with your sphere and past clients. This will, in the long run, lead to more business and better habits.

A new brand will automatically give you something fun and new to talk about with your sphere and past clients. It will give you a new reason to call and a new conversation to have rather than the same old, “I was calling about business, do you have a moment for me?”

2) Disruption of money-making activities.

Unfortunately, a move can become an excuse to not rocus on prospecting for new business.  If you allow the disruption to extend over a period of months rather than days, your income stream will be affected.

Before you make a move, strengthen your commitment to your prospecting schedule. Create built-in reasons to reach out for business. Contact your SOI, past clients and current clients immediately.

3) Cost of Rebranding

Moving to a new brokerage means you will have to rebrand all of your marketing to align with the new company. This may be a significant cost.

Of course, your new brokerage might offer improved marketing techniques and a more modern, fresh brand that you could use to your advantage in the end.

As you rebrand into your new brokerage continue reaching out to your SOI, past clients and current clients through your social media, direct mail and direct touch.

 

If now is the right time to move to a new brokerage, it’s always a good idea to take the opportunity to evaluate your current situation and either settle for where you currently work or align yourself with a brand that better matches your style.

Ask yourself, “Am I willing to make a change to move my career in a positive way towards better profits?” If this is something that speaks to you, reach out to us!

Whatever you choose, carefully weigh the pros and cons of switching brokerages to best determine what is right for you. We are grateful you took time to consider NextHome Navigator.

Melody Moser

About the Author

Join The NextHome Navigator Team

The customer facing engine that drives all home sales and purchases at NextHome Navigator. What could be better than Creating The American Dream on a daily basis?

Your information has been sent!

Join The NextHome Navigator Team

The on-demand “Uber” agent. Want some extra cash? While starting up your own career or simply as a side gig, sign up to show buyers homes.

Your information has been sent!

Join The NextHome Navigator Team

This position is perfect for an agent who loves their phone time & buyers. The agent will have leads to nurture and buyers to show with a steady stream of income. They love connecting people.

Your information has been sent!