As a “Top Producer” you earn a good living and are (generally) happy where you work.
You seek out new ways to increase your sales (within the confines of where you work) and have found a certain level of comfort within your place of employment (even though you are technically self-employed).
You excel at networking and expanding your client base, have community involvement on your resume and genuinely like meeting new people without putting “business first” at every social interaction.
But there are several things that haunt you as you look back upon your career within the real estate industry:
• Personal emergencies: If you need time off you know your income will immediately suffer
• Income stability: Real estate sales is very cyclical, you have to generate ever more connections to be prepared for a market slowdown
• Retirement: As a self-employed individual you are responsible for your own future retirement plans
There are only two options available to real estate professionals in Ontario as they look to their future:
1. Stay where you are and make the most of it
2. Move forward and open your own real estate brokerage
The first option is the road most taken. It’s hard for people to break out of their comfort zone and look at uncharted territory as the way to success and not failure. Work hard, grow your network and pay your bills. Be happy with what you have.
The second option is for those that want more. You are excited by new challenges and opportunities and see real estate sales not as the “be all” to your career but as the first of many steps towards building a lasting business based on the time and effort you put into understanding the industry and marketing your professional acumen and personal brand.
Maybe it’s that little voice inside you that tells you that you could do so much more. Maybe its family and friends that see that entrepreneurial spirit inside you, waiting to be unleashed.
As a salesperson you work hard and build up the business of the company you work for. You remain within your comfort zone despite the time and energy you expend each working day and night because it is safe.
But that comfort zone is becoming uncomfortable.
Let’s go back to the original question, “Why should I open my own brokerage when everything is working so well for me?” and ask yourself if you are ready for the challenges, and rewards, of owning your own brokerage business.
Ask yourself: are your best interests being taken care of? Is working and building someone else’s business the right place to remain for the long-term?
When you’re sure of the right answer that little voice in your head will get louder and louder.
ShareFEB