As a beginner in the real estate industry, selecting the best brokerage for new agents is crucial. A brokerage offers tools and resources to support your career growth.
But this is where it gets a bit tricky.
With the National Association of Realtors putting the number of real estate brokerages at more than 106,500, finding the best one won’t be easy.
Fortunately, you have this guide to help you choose the right one. Find out some of the best real estate brokerages for new agents in the country. You’ll also learn about the top factors to consider when selecting real estate brokerages for beginners.
1. Keller Williams
Keller Williams started franchising in 1991 and has grown to become the largest real estate agency worldwide. The company prioritizes agent relationships, believing that success starts from this collaboration.
Keller Williams’ profit-sharing program enables agents to generate extra income by bringing new agents into the company. Known for their top-notch training, Keller Williams is highly regarded as an industry trailblazer.
The Keller Williams University offers a comprehensive platform that provides real estate courses accessible to KW agents at any stage of their careers. These courses cover a wide range of information crucial to the real estate business.
The courses are regularly updated to ensure agents receive up-to-date information, enabling them to master market dynamics.
2. Re/Max
Re/Max is known in the industry for its strong commitment to delivering exceptional service and fostering trust. The firm also highlights its agents’ extensive experience, showcasing their ability to surpass expectations. With a presence in over 100 countries, ReMax leverages its global network to attract international buyers interested in relocation.
The company equips its agents with diverse training opportunities and cutting-edge technology. It offers personalized courses to enable agents to create engaging marketing videos to share on social media platforms.
Agents who’ve been part of Re/Max commend its outstanding training programs, solid reputation, and robust infrastructure.
For professional development, the Re/Max University stands as the primary educational hub for agents, brokers, and owners. Evolving from the Re/Max Satellite Network (RSN), this platform offers accessible learning for new real estate license holders, accessible from anywhere at any time.
A standout feature, “My Ru Trax,” empowers learners to tailor-fit the curriculum, ensuring a personalized learning experience.
Complementing the extensive resources are webinars and exclusive discussions, providing additional avenues for learning. Furthermore, RE/MAX offers certification programs, enhancing the professional development of individuals within the industry.
3. Century 21
Established in 1971, Century 21 boasts a global presence comprising independently owned and operated franchised broker offices worldwide.
Renowned for fostering a culture of knowledge-sharing among agents, Century 21 offices prioritize collaboration and mutual guidance.
The agency equips its employees with comprehensive training resources to excel in their roles. At Century 21, a commitment to continuous learning is ingrained across all levels, from associates to managers and brokers.
Its educational platform, Century 21 University, offers multiple courses accessible online and via in-person classes. Associates benefit from attending webinars and gaining certifications and designations accredited by the National Association of Realtors.
Century 21 stands out as a viable choice for new agents seeking robust training, mentorship programs, and access to a wide network of real estate professionals.
4. Redfin
Redfin, a Seattle-based real estate brokerage, provides a smoother transition for new agents. Unlike the traditional commission-based model, Redfin offers its agents stability by paying an average of $20,000 per agent annually.
This allocation covers various expenses such as mileage, licensing, MLS dues, continuing education, equipment, and mobile services. These are costs that agents typically bear independently.
Setting itself apart from the commission-only structure, Redfin offers monthly salaries and a comprehensive benefits package that includes:
- Health insurance
- Paid time off
- Parental leave
- Performance bonuses
The company claims that its agents earn more than double the income of traditional commission-based real estate agents.
In addition to financial stability, Redfin provides agents with regular training and ample opportunities for professional development. It ensures continuous growth and skill development within the real estate industry. This approach caters to both new entrants and experienced professionals looking for stability in their careers.
Redfin presents a promising choice for new agents aspiring for a stable income within a technology-driven brokerage, coupled with access to a vast network of real estate professionals.
However, note that Redfin operates on a non-commission-based compensation model, potentially limiting agents’ flexibility in project selection.
5. eXp Realty
eXp Realty emerged in the wake of the 2008 Great Recession, leveraging a cloud-based model designed for efficiency in a challenging economy.
This approach facilitated the transition of real estate practices to a fully online format. It enables its brokers and agents to operate with reduced overhead costs.
With a focus on affordability, eXp operates without desk fees or franchise fees, offering agents higher commission splits. Additionally, they provide a revenue-sharing plan, allowing agents to invest in company stock.
The virtual platform allows agents to access training resources, networking opportunities, attend meetings, and engage with staff seamlessly.
Remarkably, eXp caters to agents regardless of their tech proficiency. Those less inclined toward technology can still benefit from the lower fees and increased commission splits.
Agents appreciate eXp’s advanced technology and the array of training opportunities it provides. However, some miss the interpersonal dynamics in a traditional office setting.
eXp’s Cloud platform seamlessly connects you to its calendar. It features a diverse array of training classes, from scripting techniques to achieving high sales volumes through YouTube.
eXp presents an attractive choice for new agents seeking a fully virtual brokerage firm. It offers customizable marketing resources, robust training and mentorship, and an appealing commission split.
6. Fathom Realty
Fathom Realty is similar to eXp Realty. It is a swiftly emerging cloud-based real estate brokerage, making significant strides in the industry.
Currently ranked as the 11th largest independent brokerage nationwide, Fathom Realty has secured its place among the fastest-growing companies in the U.S.
It’s an appealing option, especially for part-time agents seeking flexibility through a cloud-based setup while benefiting from flat-fee commission plans that allow them to retain more earnings.
At Fathom Realty, residential transactions do not incur commission splits. Instead, there’s a $450 transaction fee for the first 12 sales annually, subsequently reduced to $99 per sale.
Additionally, a $500 annual fee is charged with the first transaction each year. For lease transactions, there’s an $85 fee, while a 90/10 split is applicable exclusively to commercial real estate.
An interesting aspect of Fathom Realty’s offerings is the granting of stock with every successful real estate sale or agent referral. This serves as an additional incentive for agents within their network.
7.JP & Associates Realtors
JP & Associates Realtors (JPAR) has rapidly expanded, now with over 30 franchises nationwide. For those seeking a competitive commission split, JPAR stands out by offering a full-service brokerage under a transactional fee model. This system allows realtors to keep more earnings.
The company facilitates realtor success by providing an extensive range of training classes, with hundreds offered each month. Its on-demand training library covers various topics, including recruitment and optimal business practices.
JPAR’s mentorship program serves as a valuable asset for agents looking for career growth. The company operates on a transaction fee structure, charging a $550 fee up to a cap of 20 deals. Additional fees at JPAR include a $150 transaction fee per lease, a $150 fee for referrals, and a $550 fee for commercial transactions.
This fee structure positions JPAR as a competitive option for real estate agents seeking a supportive environment with accessible training and a favorable commission structure.
8. Coldwell Banker
Established in 1906, Coldwell Banker operates as a franchise brokerage with independently owned and operated branches. It boasts a strong brand identity and comprehensive support for its agents.
Coldwell Banker equips its agents with cutting-edge technology, including personalized websites and CRM systems. These tools help its agents locate potential clients.
Coldwell Banker stands out for its robust onboarding of new associates and numerous training opportunities aimed at honing agents’ business acumen. These courses undergo regular review to ensure agents stay updated with current trends and practices.
Coldwell Banker acknowledges the pivotal role of connections in the real estate industry. It hosts annual events to bring together agents, brokers, and managers and foster collaboration within the community.
9. CBRE
CBRE is the world’s largest commercial real estate service and investment company. It has consistently secured a place on the Fortune 500 list since 2008.
It provides an extensive array of services, spanning property management, mortgage, and development services. CBRE caters predominantly to the commercial real estate sector.
CBRE places a strong emphasis on nurturing the success of its real estate agents. It offers close to 100 training programs and a diverse set of tools. These resources are designed to accommodate individuals at various stages of expertise, facilitating growth and development within the company.
10. Weichert
Weichert has a unique training approach that prioritizes seeing potential clients as individuals first and customers second. This mindset aims to enable agents to establish deeper connections by understanding clients’ needs on a more personal level.
Weichert offers an array of resources and tools to help real estate agents kickstart and grow their careers. The training structure at Weichert combines classroom sessions with online learning. Agents also have access to Weichert University — a 24/7 library offering best practices catering to both newcomers and experienced professionals.
Weichert also encourages established agents to share their expertise with new team members, ensuring their success within the company. This approach aims to support agents at various stages of their career journey.
Weichert’s commission structure stands out for its competitiveness, following a tiered system determined by the value of properties sold or leased. Agents earn higher commission rates as they generate greater value for their clients. For instance, selling a $300,000 property would yield a 2% commission, equating to $6,000 for the agent.
11. Real Brokerage Inc.
Real Brokerage Inc. is a technology-driven real estate brokerage. It emerged in 2014 with a vision led by Tamir Poleng and a group of pioneers.
Since its inception, Real has achieved significant growth, extending its presence to encompass 50 states, the District of Columbia, and four Canadian provinces. The network now boasts an impressive count of over 13,000 agents.
Real’s focus lies in revolutionizing agents’ experiences by prioritizing innovation, revenue sharing, and equity and providing them with freedom and flexibility.
Key features offered by this brokerage:
- A competitive commission split ratio of 85/15, capped at $12,000
- An expansive revenue share program designed to benefit agents
- An equity incentive program to promote agents’ long-term engagement
- A mobile-centered technology platform
- A collaborative and supportive culture
Real offers a promising choice for agents seeking a virtual brokerage with attractive features like a favorable commission split, stock options, and adaptable marketing resources.
However, agents should weigh the potential downsides, such as the absence of face-to-face interaction and the brokerage’s relatively recent establishment.
12. Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices (BHHS) is a prominent real estate brokerage franchise network operating in the United States and globally. It falls under the umbrella of Berkshire Hathaway Inc.
Established in 1998, BHHS spans over 50,000 agents and nearly 1,500 offices worldwide. It is aligned closely with its parent company’s core values of trust, integrity, stability, and enduring success. BHHS provides clients with comprehensive real estate and financial solutions.
Catering to a diverse clientele ranging from first-time homebuyers to seasoned investors, BHHS offers an inclusive package paired with automated listings, simplifying client service and marketing efforts.
Regarded as one of the most successful real estate agencies in the market, BHHS owes part of its success to the investment expertise of Berkshire Hathaway’s iconic figure, Warren Buffet.
The benefits of joining BHHS include the following:
- Access to an array of tools and resources encompassing training, marketing, technology, support, and educational offerings
- A network of seasoned professionals and experts available for guidance, mentorship, and collaborative endeavors.
- A positive, supportive, diverse, and inclusive culture
- An environment that values collective effort
13. Compass
Compass, also known as Urban Compass, prioritizes empowering agents through advance tech tools, unwavering support, and a distinctive culture.
Established in 2012 by Robert Reffkin and Ori Allon, Compass swiftly emerged as a trailblazer within the real estate industry. Today, its network spans 300 offices across 70 key markets with a remarkable 28,000 agents.
The company equips agents with technology and tools that confer a competitive advantage. It enables them to deliver superior service and value proposition to clients.
This approach to real estate promises agents opportunities for:
- Increased earnings potential
- Regained control of their time
- Establishment and growth of personal brands
- Networking and continuous learning
Key advantages of joining Compass:
- Access to cutting-edge technology and tools, encompassing the Compass platform, app, CRM, marketing center, and concierge service.
- Support from coaches and mentors offering guidance, training, and constructive feedback.
- Partnership with a forward-thinking brokerage that attracts affluent, tech-savvy clients valuing convenience and efficiency.
14. Ameriprise Financial
Ameriprise Financial has a robust reputation and a longstanding presence in the industry. It was founded in 1894 as a life insurance and annuity provider.
Today, Ameriprise Financial offers a diverse spectrum of services, including financial planning, banking services, and investment advice. This provides ample opportunities for individuals aspiring to work in various sectors within the financial sector.
In 2018, Ameriprise earned the top spot in JDPower rankings among major brokerages, ranking No. 1 for customer satisfaction across all product categories. This accolade underscores its commitment to delivering exceptional service and meeting the needs of its clientele.
15. TD Ameritrade
TD Ameritrade emerges as a commendable choice for new agents with the wealth of resources it provides. For those starting their journey in the industry, TD Ameritrade offers a comprehensive array of educational programs and webinars. These are valuable resources to navigate the complexities of the real estate business.
TD Ameritrade extends a robust support system for agents needing additional guidance when feeling overwhelmed by their tasks.
Factors to Consider When Selecting a Company for New Real Estate Agents
There are certainly many factors that make the above companies stand out. If you want to widen your search, look for real estate brokerages for beginners with the following factors in mind:
Reputation
When considering the best real estate brokerage for new agents, it is wise to examine their reputation. Aspiring real estate agents need to align themselves with a brokerage fostering a culture of transparency.
Also, the best brokerage for new agents should have a history of upholding ethical standards with its transactions. Additionally, a reputable brokerage exhibits low staff turnover rates and garners positive feedback from its agents and clients.
To gain insights into a brokerage’s standing, peruse reviews on platforms such as Glassdoor, Indeed, and Google My Business.
For an added layer of assurance, look for brokerage firms with accolades or commendations from third-party real estate organizations or publications. Recognition from these reputable sources underscores a brokerage’s commitment to integrity and providing top-notch services.
Workplace Culture
Even if a real estate broker boasts a stellar reputation, it doesn’t guarantee a good fit for an agent. This underscores the importance of considering the brokerage’s culture.
New agents might assume that their enthusiasm can bridge any cultural disparities, especially when surrounded by seasoned individuals in the field. However, that alone doesn’t ensure a fulfilling career.
One key determinant of success within a brokerage hinges on how well an individual aligns with the overall workplace atmosphere. Consider the kind of environment that resonates with your personality.
Moreover, it’s crucial to weigh the focus of a given real estate broker. Some prioritize client education for informed decision-making, while others emphasize leveraging technology to facilitate transactions.
Commission Split
It is essential for real estate agents to understand how a brokerage divides commissions, as commission structures differ across the industry. Understand the ratio of earnings allocated to you compared to what the brokerage retains.
Additionally, inquire about commission splits between buying and selling agents. Clarify these figures to make informed decisions aligning with your financial goals.
As your real estate career advances, remember that there’s room for negotiating a more favorable commission structure, allowing for increased earning potential over time.
Franchise vs. Independent Brokerage Companies
Franchise brokerages provide comprehensive training and mentoring, facilitating access to expansive client and lender networks. This translates to more opportunities and quicker career progression. Furthermore, the prestige associated with a prominent franchise name can expedite client acquisition, offering a faster route to establishing a client base.
Independent brokerages offer a greater degree of flexibility. In addition to newcomers, these firms attract seasoned real estate agents who prefer autonomy in their operations.
Professional Support
While it might be tempting to select a brokerage solely based on its commission structure, this approach may not always be the most prudent.
When finding the best brokerages for new agents, consider the supplementary advantages and resources offered by the brokerage, such as educational programs, marketing support, and sales training. Commission structures differ across brokerages, and the professional support provided can significantly impact your take-home pay.
For instance, consider their approach to education. Are they equipped with technological tools and courses to ensure a strong foundational start? Do they facilitate peer mentoring among employees?
Assess their provision of essential resources like business cards, signage, and marketing materials. Moreover, find out about the accessibility of the broker-in-charge. Will they actively engage in discussing your deals, offering guidance on marketing strategies, sales techniques, and negotiation tactics?
Surrounding yourself with experienced professionals capable of offering valuable advice as you embark on your real estate journey is equally vital.
Inquire about the company’s commitment to supporting ongoing education and licensing. Clarify whether the firm covers licenses and associated fees or if you are expected to self-finance. Understanding the brokerage’s position on these matters is crucial for your professional development within the real estate field.
Start Your Real Estate Career on a Firm Footing
Selecting the right real estate firm as a new agent is a critical decision. Factors like the company’s reputation, available training and support resources, commission structure, and organizational culture play a significant role.
Equally important is considering the company’s size, technological capabilities, and whether you prefer a franchise or an independent brokerage.
When assessing the best real estate brokerage for new agents, prioritize what aligns with your career aspirations and preferences. Finding the ideal fit is key to a successful and fulfilling journey as a new agent.
