Reasons to Become a Broker
June 26, 2019 |
Becoming a real estate broker has many benefits that can take your career to new heights! Here are our top five reasons to level up from real estate agent to real estate broker.
- Earn a Higher Income
Broadening your career options is great, but another popular reason agents become brokers is so they can make more money. According to the Bureau of Labor Statistics, in 2018 the average real estate broker earned $78,210 while the average agent in the US earned $58,710!
- Run Your Own Brokerage
Of course, you’ll have to become a licensed broker before opening your own brokerage. But you can start taking your required broker courses as soon as you become a real estate agent. Once you’re ready to run your own brokerage, you keep all the commissions earned from your transactions. You can also recruit and hire a team of real estate agents or associate brokers to work under your license.
You also decide the commission split for your team. Unless you’re running a 100% commission firm. In that situation, they will pay desk fees and other fees that you select in exchange for a larger split.
- Receive Better Commission Splits and Management Options
Different from owning your own brokerage, working as an associate broker could prove to be a great next step from being an agent. But, with your elevated licensure and expertise, you can often set a higher commission split than other real estate agents. You also may have the opportunity to advance to a management level. This is another great way to gain experience without managing your own brokerage.
Having an in-depth understanding of commission splits, especially at this stage, is imperative. Knowing what your options are can greatly boost your path ahead.
- Run Property Management Companies
Also separate from owning your own brokerage, having a real estate broker license means you can run your own property management company. You would work as the liaison between the property owner and the tenants who occupy that property. This could make an excellent career path – or an additional revenue stream!
- Increase Your Marketing Opportunities – The “Broker” Title has Value
Upon earning your broker’s license, you will see more immediate benefits even if you choose not to run your own business right away. This newly-earned education, and the expertise and experience involved, can help you acquire new clients. As the holder of a broker license, clients will understand you have completed more training, and are more experienced, than other real estate agents in their area. This gives you increased marketability!
These benefits, and many more, await you when you earn your broker license. It has never been easier to become a broker than right now! Take your career to the next level today by emailing us as firstname.lastname@example.org or calling 614.350.5748 for a free career evaluation.