The real estate market as we once knew it is no longer: technology has changed the course of many operations. The pace of this change has been accelerated even more by the new norm of virtual work ushered in by COVID-19. For a while, the residential market had a corner on “digital” as the first route to finding or selling a property. Commercial, while a bit behind pace, is quickly catching up. Now, with the touch of a button, buyers have the capability to see numerous commercial properties, utilizing different apps all from the palm of their hand. Agents are no longer just competing with each other — they are competing against the digital era.
Despite this fact, real estate still remains a business driven by relationships. When it comes to brokerages, relational substance allows the opportunity to reach clients in the capacity technology still has the inability to do.
While your personal brand as an agent is of the utmost importance, at the end of the day, agents know that working for the right brokerage can be a make-or-break for their career. In 2020, the broker’s brand is often the first impression potential new clients will have of the agent, and so deciding where to hang your license is paramount. Likewise, brokerages are only as strong as the quality of their agents. And the competition for good agents is as hot as ever. So how do commercial real estate agencies stay ahead of the game and differentiate themselves in 2020?
Here are my two cents on what modern agents are looking for in a brokerage that can take them to the next level:
A Solid Brand Strategy
What does the broker’s brand stand for? Is it locally and nationally recognized? Name recognition in the marketplace is key when attracting new business. That first introduction will set the tone of your entire journey with a prospect. At Metro 1 (https://www.metro1.com/), we seek to elevate our brand within the industry by investing in strategic marketing initiatives, so that our agents always have a leg up on the competition.
When you are backed by Metro 1, you know you have our reputation to stand on. You will also be joining a brokerage with a tremendous legacy of success in South Florida. Since 2015, Metro 1 has closed 250+ Sale and Lease Transactions, representing more than $430 million dollars of transactions on behalf of our sellers and landlords, and we have sold or leased more than 1.5 million sq. ft. of commercial space. Few other boutique brokerages can also boast such robust statistics, even over a long history.
Company Culture
What about its culture? You can usually define a company’s culture by analyzing: its core values; how agents engage with leadership; whether fellow sales professionals and executives are personable and eager to teach, and learn; how active and involved the brokerage is in the community; and most importantly, what clients say about working with the brokerage. Does the company offer perks that will improve or benefit your family, such as flexible work schedules and paid time off? It’s important to research all of the above and choose a place of employment that aligns with your values. Agents today want to know, “How can this position be meaningful to myself and those I come in contact with?” So, before a meeting or an interview, first ask yourself, does this Brand represent me.
Our team at Metro 1 is more like a family, and we spend time together inside and outside of the office. We also love to give BACK and our Metro 1 Community (https://www.metro1.com/m1-community/) initiative serves as a bridge between our brokerage and the needs of the communities in which we work. Discover more about what we’re doing to promote a positive culture at www.metro1.com.
Coworkers You Can Learn From
You’re going to spend an awful amount of time with people on your team. It’s hard to admit but no one person fits everywhere, and that’s why it’s important to look for synergy with those you will be working with on a daily basis. Sometimes the difference between closing a deal and letting one go is how well your team of agents is able to work together. How often does the company plan outings to bring employees together, such as a sponsored happy hour, volunteering, sporting events, and team-building activities? Ask yourself the following: What would your role be in the team? What do you bring to the table? And more importantly, how do they add value to you?
At Metro 1, we are true “team players.” Rather than compete against each other, we help each other win by sharing leads and information, brainstorming creative solutions to obstacles, and constantly challenging each other. We also have a senior leadership team that is highly invested in investing in us and growing us as agents and professionals.
Advancement Opportunities
Now let’s get to the nitty-gritty, ultimately the most important question to any agent is, “will the company push you forward?” Ask about the brokerage’s training programs: Does the company foster a culture that encourages an entrepreneurial spirit within their employees? What is the commission structure like? What is the route to advancement? Analyze the relationships you can make and put yourself in a place where you can expand your career and have fun doing it.
For our team, as much as we love to have fun, we also love to grow and conquer whatever the next milestone is — be it financial, charitable, or other. Our only competition is with ourselves and we are constantly pushing each other to do better than the week, month, and year before. We also strongly believe in promoting from within and are growing our team locally and nationally at a rapid pace. While most other brokerages are laying off agents in the wake of COVID-19, Metro 1 is expanding and sees now as an opportunity to invest in our team and get a leg up on the competition.
So pick your brokerage wisely and upgrade yourself, because you’re deserving of not only a healthy personal life but work life as well! While the mind of the modern agent may still value commission splits like before, more importantly, we care about belonging.
