should you build a real estate team or Should you open your own brokerage?
Updated: Jan 5, 2022
Many real estate agents and team leaders are contemplating this question: Should I launch a mega team or open my own brokerage. In this video I broke the question down a bit to give you more clarity. This is an important question. I suggest you to watch the video and contact me for FREE consultation.
The main difference between owning a brokerage and building a team under someone else's brokerage is liability and responsibility. When you are the broker of record (aka, own your brokerage) you are responsible and held liable for everything that is done inside your brokerage. When you have your own team, you are only responsible and liable for what you personally do and the agents in your team (although your broker of record is also reliable and responsible for you and your team members).
The cost to launch a team in most cases is more affordable than opening a brokerage and if the company you are working with provides systems, tools, marketing templates, office space, website, etc you can avoid a lot of the expenses you'll have as a broker owner. When you open a brokerage you will need to get your own systems, tools, office space, sign a lease or buy your own space, pay all the bills, join mls/board, advertise, create marketing templates, logo, website, etc.
If you are going after the ultimate freedom and you wish to be your own boss, setting your own rules, and doing everything you believe in without having any restrictions at all, you are probably better off opening your own brokerage.
There are many layers to discuss and discover about your current situation in order to make a solid decision regarding this important question. I invite you to reach out to me and book a free consultation session for 45 minutes so we could go through the foundational questions to help you decide which route to take.
The best and fastest way to reach out to me is by sending an email to firstname.lastname@example.org