TJ Moruzzi
As everyone has seen in the media, over 70,000 real estate brokers left the industry. Due to this mass departure, many brokerages were forced to fill the gaps and increase their recruitment efforts. Suppose you are an experienced professional with a successful year or a recently licensed agent. In that case, there is a chance that you may receive many calls, emails, and letters from different real estate companies.
These businesses, from big nationwide brokerages to tiny neighborhood boutiques, will try to convince you that they are your best option. They will promise big commission splits, free marketing materials, and state-of-the-art technological tools to tempt you.
But how can you ascertain which real estate firm is actually the most suitable for you? Your choice could significantly affect the direction of your career and your success in thise field. Consider the market you are in and the kind of training you want before making your decision.
How We Evaluated The Best Real Estate Companies Tto Work For In 2024
In today’s competitive real estate market, finding the right company to work for can be quite difficult. However, it can make all the difference in your career trajectory. With numerous options available, it is crucial to assess various factors to determine which real estate company best aligns with your professional goals and values.
Industry Reputation And Recognition
Industry reputation plays a significant role when evaluating the best real estate companies to work for in 2024. Look for companies that have garnered recognition and accolades within the real estate sector in recent years.
The company’s awards, rankings, and honors, like being named the top independent brokerage or recognized for leading performance in the market, should be considered. These honors reflect the company’s achievements and standing in the industry.
Training And Professional Development
When selecting a real estate company, it is crucial to consider the training and professional development opportunities available. Look for firms that prioritize ongoing education and skill development for their agents. Comprehensive training programs, access to educational resources, and mentorship opportunities can significantly impact your success as a real estate professional.
Company Culture Aand Values
The company culture and values are pivotal for job satisfaction and overall success. Evaluate the company culture of prospective real estate firms by considering factors such as collaboration, inclusivity, and supportiveness. A positive and supportive work environment fosters teamwork and encourages agents to thrive.
Commission Structure And Financial Incentives
Financial considerations are essential when evaluating real estate companies. Assess the commission structure and financial incentives offered by each firm.
Look for competitive commission splits, bonus opportunities, and additional perks such as stock options or revenue-sharing programs. A transparent and lucrative compensation plan can significantly impact your earning potential.
Support And Resources
Consider the level of support and resources provided by each real estate company. Evaluate the availability of marketing materials, technological tools, and administrative support. Additionally, assess the accessibility of customer service and assistance for resolving any issues or expected challenges.
Growth Opportunities
Consider the growth opportunities that are available within each real estate company. Check firms that offer advancement opportunities, career development programs, and pathways to leadership roles. Consider the potential for professional growth and advancement within the organization.
Client Satisfaction And Market Presence
Consider the client satisfaction and market presence of each real estate company. Evaluate client reviews, testimonials, and feedback to gauge the company’s reputation for customer service and satisfaction. Additionally, it assesses the firm’s market presence, brand recognition, and geographic reach.
Best Real Estate Companies To Work For At A Glance
Below, we have listed some of the best real estate companies you can join in 2024.
eXp Realty
Established in 2009, eXp Realty has swiftly risen to prominence as a cloud-based real estate brokerage. It has achieved remarkable success within a concise timeframe.
In the 2020 REAL Trends 500 Report, eXp Realty was recognized as the top independent brokerage and the leading mover in transactions. Their impressive growth surged by 77.8% from 2018 to 2019.
When deliberating on the best real estate company to align with, eXp Realty stands out as one of the top recommendations. This is due to its robust training programs, competitive commission structure, stock options, and the distinctive retirement prospects offered through its revenue share program.
Additionally, eXp Realty sets itself apart by significantly focusing on nurturing a supportive company culture. It highlights collaboration among agents to foster mutual success, further enhancing its distinctiveness.
Training
The eXp training platform facilitates a seamless onboarding experience for every new real estate agent. It features live orientation sessions and interactive classes covering essential topics.
Additionally, new and existing agents can avail themselves of over 50 hours of live classes and weekly events through eXp University. It covers diverse subjects, from introductory sessions on eXp to navigate its various systems. Moreover, there is comprehensive information available on subjects such as accounting, along with the best real estate practices for achieving success.
Support
The eXp Realty is committed to provide agents with the resources and necessary support to build their real estate businesses. Whether it is assistance with onboarding, technology, accounting, or specific transactions, it offers comprehensive support and services.
Accessible customer service is available from Monday to Friday, from 9 am to 8 pm EST, ensuring agents receive prompt assistance whenever needed.
Company Stock
A compelling feature of being an eXp agent is the diverse opportunities that are provided to obtain company stock.
The sustainable equity plan, offered by the brokerage, rewards agents with stock for completing specific tasks. It includes
- Closing their first home
- Reaching their yearly cap
Additionally, agents can earn company stock by achieving the ICON Agent Award, which involves meeting specific production and cultural requirements. Eligibility for ICON is renewed annually based on the anniversary date of joining the company.
Agents can also participate in the Agent Equity Program. It allows eXp Realty to withhold 5% of an agent’s commission in exchange for company stock at a 10% discount.
Commission and Revenue Share
All eXp Realty agents operate on an 80/20 commission split with this company.
Moreover, it offers a revenue-sharing program that rewards agents with a percentage of the revenue generated by other agents they bring into the company. This revenue share comes from the company’s pocket as part of its 20% split, without affecting the 80% of agent commission.
In summary, eXp Realty presents a compelling proposition for real estate agents. It provides robust training, competitive compensation, and opportunities for long-term financial security and professional growth.
Keller Williams: Team Leaders’ Best Real Estate Company
Keller Williams emerges as an optimal choice for those pursuing real estate careers. This company prepares its agents with the necessary tools to kickstart their journey in the industry by providing extensive hands-on, in-person training.
Established in 1983, Keller Williams has solidified its position as a prominent player in the real estate sector, boasting a recognizable brand and enduring presence. Co-founder Gary Keller is renowned for his bestselling book, namely, “The Millionaire Real Estate Agent.” He is widely regarded as one of the most influential figures in the real estate field
Keller Williams prides itself on being the largest real estate technology franchise regarding agent rosters. In 2019, it clinched the title of the #1 franchise brand by sales volume.
BOLD
Keller Williams offers the BOLD training program, which is meticulously crafted to educate new agents. The program covers lead generation, effective communication, and the fundamentals of building a successful real estate enterprise. It also empowers agents to overcome self-imposed limitations and maximize their productivity in nurturing their real estate ventures.
Keller Williams University (KWU)
At Keller Williams University, agents can gain access to a comprehensive training platform hosting a myriad of real estate-specific courses on diverse topics. Regularly updated with insights and tips from leading agents within the company, the KWU offers various training options., These include on-demand course streaming and structured learning paths designed to systematically facilitate agents’ professional development.
Additionally, agents can delve into interviews featuring Gary Keller and prominent agents nationwide, delving into their strategies for success.
Best Suited for Part-Time Agents
Fathom Realty
It is a top choice for part-time agents seeking flexibility in their real estate endeavors. Like eXp Realty, Fathom Realty operates as a cloud-based real estate brokerage, and it is swiftly gaining prominence in the industry.
Fathom Realty is ranked as the 11th largest independent brokerage nationwide. It has been consistently recognized as one of the fastest-growing companies in America for six consecutive years by Inc.500 and Inc.5000.
Commission Structure
Fathom Realty offers an appealing commission structure for part-time agents. It allows them to retain more earnings while enjoying the benefits of a cloud-based brokerage model.
Fathom Realty implements a flat-fee commission plan for residential transactions, by eliminating commission splits. Initially, a $450 transaction fee is applicable to the first 12 sales of the year. After that, it will be reduced to $99 per sale. Additionally, a $500 annual fee is levied on the first transaction annually.
Alternative commission plans include an $85 fee per lease and a 90/10 split exclusively applicable to commercial real estate transactions.
Moreover, Fathom Realty incentivizes its agents with stock grants for every successful real estate sale or agent referral, which adds further value to its commission structure.
Century21: Ideal for Luxury Agents
Century21 is the premier choice for luxury agents. It boasts a brand synonymous with high-end properties and a roster filled with esteemed luxury agents.
Established in 1971, this company Century21 has evolved into one of the world’s most renowned real estate brands. It spans over 83 countries and encompasses more than 11,600 independently owned franchise brokers.
Training
Recognizing the importance of continuous growth, it prioritizes comprehensive training through its dedicated platform, namely, Century21 University. This platform empowers agents to cultivate their real estate brands and reach their professional aspirations.
Century21 University offers diverse training formats, including
- Live online sessions
- Classroom instruction,
- Engagement in social network groups,
- Access to a vast video library.
Commission Structure
Century21 maintains a competitive commission split of 50/50 and imposes an 8% franchise fee. Notably, it does not burden its agents with desk fees or upfront monthly expenses, enhancing the appeal of its commission structure.
CBRE: Top Choice For Commercial
Agents CBRE specializes in commercial real estate properties. It holds the distinction of being the world’s largest commercial real estate service and investment company. Since 2008, it has maintained a consistent presence on the Fortune 500 list.
The company offers a comprehensive array of services, from property management to mortgage and development services.
Employee Benefits
Full-time employees at CBRE can enjoy a comprehensive benefits package, including medical, dental, vision, disability, and life insurance. Additionally, it provides a 401k plan, employee assistance, discount programs, paid vacation, and company holidays.
Training
CBRE significantly emphasizes on training and continuing education to equip agents with the tools they need to succeed in the real estate industry. The company offers nearly 100 training packages and a variety of tools designed to advance agents’ careers.
JP & Associates Realtors: Best Commission Split
JP & Associates Realtors is a rapidly expanding brokerage firm that launched 30 franchises nationwide within its first six months of operation. It is my preferred choice for a real estate company with the best commission split, offering a full-service brokerage on a transactional fee model.
Training
JP & Associates Realtors facilitates the success of realtors by providing hundreds of training classes each month. Its extensive on-demand training library covers various topics such as recruiting, best business practices, and tools like Travis Robertson’s The Real Estate Playbook. Additionally, JPAR offers a successful mentorship program to support agents in their growth.
Commission Structure
JP & Associates Realtors implements a $550 transaction fee up to an impressive 20-deal cap. Additional fees charged by the firm include a $150 transaction fee per lease, a $150 referral fee, and a $550 fee for commercial transactions.
Final Thoughts
Ultimately, the organizations that offer their agents the greatest resources and support to help them thrive are the finest real estate firms to work for in 2024.
Depending on how long you have been a realtor, whether you work as a full-time or part-time agent or specialize in residential or commercial real estate, you can choose the ideal brokerage firm for your real estate career.
These six businesses are excellent choices to support the development of your real estate career, regardless of your circumstances.
