Which Oahu Real Estate Brokerage Should You Work For?
After just a few years in the real estate industry, the phone starts to ring with calls for recruitment. The longer you stay and the more deals you close in the business the more calls you receive. It is interesting to me to see the other brokerage models that seem to come and go. The owner of Hawaii Life, Matt Beall, will always encourage us to take the call or meeting. He does not make this recommendation thinking someone will jump ship, but more so we can see what they are offering.
Real Estate Agent Incentives
The firms of today seem to be offering high splits, the so-called “mastermind” education systems, or complete cloud-based learning with you are on your own mentality. These firms seem to have a high broker-in-charge turnover or very little oversight for the agents. The new hook these days is a form of multi-level marketing. This is where they entice the agents by making commissions on new agents you sign on under your name. That sure sounds like the old pyramid scam system of first-in can make money but the funnel always tightens.
Some of these firms will actually buy agents with a signing bonus or iancentive. This then locks them into a contract for a certain amount of years so the firm can recapture the expense. The question is what happens if that agent is not happy or wants to move to another firm? Well for the most part they are stuck where they are until the contract concludes. Now you have an unhappy agent and a firm that knows you no longer fit their business model. This is not a long-term plan for success.
Sometimes the pitch is the grass is greener over here so you had better get in when you can. Some of these firms make it sound like the grass is neon green on their side of the fence, but is it really all it seems?
Education and Oversight
Firms with limited oversite for their agents with limited education for newer agents are certainly a recipe for disaster. After all, we help clients buy and sell their biggest asset — a home. Is this something you want to put in the hands of someone that is looking to possibly cut corners or save money? I would assume that a buyer and seller want a well-educated and competent agent on their side. Additionally, some of these firms and agents get a reputation. They have a limited understanding of the contract and terms. This results in sub-par work with the more education agent doing most of the heavy lifting. These deals can fall apart fairly quickly so it is generally better to work with an agent that knows what they are doing. No homeowner wants to start from scratch after weeks of work.
If you take time to do a deep dive into the agent some of the results can be alarming. Is the agent selling the asset or showing images of their lifestyle?
Good Work Speaks for Itself
One thing that has remained the same is the agents/brokers at Hawaii Life do good work. We are not about awards, beauty pageants, or attaboys. We are about good strong contracts, great broker reviews, and plain old good end results. There is no wizard behind the curtain or bait and switch at Hawaii Life. We have an amazing toolbox of assets. This consists of a strong back of the house and education. Amazing oversight and strong clean marketing. This system ensures a great end result for the buyer or seller.
So when it’s time to buy or sell what is arguably the largest asset of your life, who do you want to represent you? A firm that is a possible flash in the pan or one with a solid moral compass? There are certainly a lot of choices in the business but as always you get what you pay for in the end. A firm that has a solid foundation and takes the time to coach and teach is the better choice. This is why Hawaii Life remains at the top of the pack. It is not always about who has the most agents or who did the most deals. It is more about doing right by the client and plain old good work.