5 Reasons Why People Switch Agencies In Real Estate
People often say that a career in real estate is largely dependent on you. However, that is not entirely true. Starting off on the wrong foot, be it joining an agency that is not as supportive, or having a mentor that only cares about the numbers- can play a role in your success as a first-time or mid-career switch agent.
Effective mentorship, is so much more than people give it credit for. To be an effective mentor, it is actually necessary to commit to mentorship-this means going the extra mile.
So what are some of the red flags that cause people to switch agencies? The biggest factor would be people not finding success- perhaps even to the point where they are struggling to go on. When this happens, it is natural to want to give up, but it is also fair to note that it is not the end.
Here are 5 reasons why someone might want to switch agencies.
1. Poor Mentorship
As mentioned previously, mentorship is a key factor in the success of a new agent. When there is insufficient training and a lack of manager support, it becomes very difficult to carry on. Many agents may feel unsure of what they’re doing, with no one to call upon for guidance. Being self-employed is scary- and not having a support system that can counsel, and help you out along the way can make people feel isolated and harbour feelings of resentment.
2. Not doing well
Being your own boss is great, but at a certain point, one needs to evaluate the practicality of the situation. It takes a certain type of grit to weather storms, but leaving everything to fate is generally not a good idea. While there are perks to being a self-employed individual in an industry as lucrative as real estate, not having financial security and stability for an extended period of time will lead people to reconsider. At the end of the day, if your survival is compromised, it would not make sense to stick it out and wait for things to change.
3. Found a mentor that is more compatible
As with any relationship, compatibility is key. Sometimes, no matter how hard you try, if personalities clash and there is no synergy, it might be difficult to cultivate a fulfilling relationship. Understanding a person and their working styles can greatly affect the quality of mentorship, in other words, there is a formula to getting more out of your mentorship. However, the prerequisite to that is having a mentor that is compatible with your learning style.
4. Better support elsewhere
Teamwork makes the dream work and without a strong core support system, new agents can feel isolated. When this happens they will think of looking elsewhere to gain the support they need. People need to be able to feed off energies and relate to the people around them, knowing that there is a strong support system can greatly affect one’s attitude towards their job.
5. No synergy within own group
When people cannot “click”, it makes working together almost unbearable at times. Sure, work is work, but when you feel a strong disdain towards your team, do not share the same goals or feel singled out, it is hard to put your heart into your work. Even if things are going okay financially, feeling impending ennui at the thought of having a “work event”, can make one miserable over time. The whole point of pursuing a career as such is for more financial freedom, and ultimately happiness, if you hate the people you work with, it is probably worth considering a switch.
How do you go about switching agencies/mentor?
If any of the above reasons resonate with you, it might be time to start looking elsewhere.
The first thing you should do is look for a mentor that you feel can help you out, someone who really understands the struggle and is willing to commit his/her time to actually teaching you the ropes. Reach out to various people on LinkedIn who have proven track records, verifiable social proof and are representing a large organisation. This means that they have the experience, resources and most importantly, the desire to help you succeed.
For example, Propnex has monthly training sessions by top achievers that can really help you drive sales. You’ll be learning from people that have tried and tested these methods and the best part, it is endorsed and backed by a big organisation. Check some of them out here.
Choosing the right mentor
Finding someone to support you on this journey is crucial, but the process of searching for one is hard. The key is to find someone that is part of a large organisation but may not necessarily lead a huge team. This way, you can be certain that more focus will be placed on you, which is important.
A good mentor will implement tailored programmes to equip both new and experienced real estate professionals.
At the end of the day, it is about what YOU want, so do exercise your own discretion and not jump at every opportunity presented in front of you.
Remember that mentorship is a two-way street, as much as they are helping you, you are helping them grow as well, there is no reason for you to not benefit from their expertise.
Take the time to explore your options and speak to different mentors to see if what they offer suits you and your goals.
Reach out to us for a chat, we promise- no obligation, we just want to see how we can help you because, at BCD, our focus is on you.
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