We get it; saying goodbye to your current brokerage might feel like a big step. Maybe this is the place where you started your realtor journey, and that’s why you feel a sense of loyalty towards it. Or maybe you’re nervous about joining a new real estate brokerage in Toronto. But realtors keep in mind that “sometimes, without change, there’s no growth.” This is especially true if your current brokerage is holding you back in your career. In such a case, switching to a new one is indeed the right move for you for your career.

Now comes the question – “Which signs indicate that your current brokerage is making it harder for you to get ahead in your career?” Let’s learn about these red flags in-depth below!

Signs It’s Time to Leave Your Current Brokerage

1.    Not Getting Enough Support

You’re left to figure things out on your own, and you have no one to turn to for help.

A real estate career can sometimes feel stressful and high-demanding, especially when you’re just starting out in the industry or working on a tough deal. In such situations, you need the right kind of support, guidance, and mentorship so you can complete your work efficiently. But it can be tough for you to do your job if your mentors are hard to reach, unresponsive, or unhelpful.

What to look for in the new brokerage –

Make sure the mentorship team in the new real estate brokerage is approachable and supportive. They should be truly invested in your success and be ready to offer guidance when needed. There must also be regular training programs and professional development opportunities in the brokerage. The Canadian Home is one such brokerage where there are comprehensive training programs for realtors. These mentorship programs help realtors to hone their skills and stay ahead in the market.

2.    Unfair Commission Structure

Your commission split doesn’t reflect the time and effort you’re putting in.

Are you breaking your back trying to successfully close every deal? Your commission fee should reflect this hard work and effort. If not, it’s a huge issue. Your brokerage may have an unfair commission split that is leaving you with less than you deserve. They might be charging you a list of fees that aren’t transparent and do not contribute to your success. For instance, there are desk fees or franchise fees.

What to look for in the new brokerage –

The real estate brokerage in Toronto you’re planning to join should have a clear and fair commission split. The brokerage must clearly explain the commission split and what fees you’re supposed to pay. There shouldn’t be any unnecessary desk fees or other charges that eat into your hard-earned income.

3.    Using Outdated Technology

Your brokerage is using age-old tools, software, and systems that are slowing you down.

If you’re still using slow, unreliable, and old tools and systems, you’ll easily fall behind your competitors. Yes, that’s right – the real estate industry has become incredibly fast-paced. While you spend a big chunk of your time dealing with clunky software, constant glitches, and slow systems, your competitors will get ahead in the game. Not using up-to-date tech can also hurt your reputation in front of your clients. Your clients may think that you’re a realtor who doesn’t keep up with the latest industry trends.

What to look for in the new brokerage –

Your new brokerage should be constantly investing in the latest tech tools that can help you stay ahead. Also, the tools and platforms they are currently using should be user-friendly, reliable, and fast. They must be offering you at least a CRM tool, a property listing website and app, and marketing tools, including your branded website.

4.    No Lead Generation Or Marketing Support

You’re left to generate leads and market yourself with little or no support at all.

The lead generation task is something you must count on your brokerage to help you with. But if you find yourself constantly hustling for new clients with no help from your brokerage, it’s time to make a move. The same goes for marketing as well. If your brokerage isn’t helping to create your marketing materials and establish a strong presence for yourself, it’s a big red flag.

What to look for in the new brokerage –

The brokerage must have a lead generation system in place that brings in active leads to you.

The Canadian Home Realtors receive a steady stream of leads from their CRM tool, marketing campaigns, or other lead generation sources. The brokerage must also host networking events, giving you a chance to connect with potential clients.

When it comes to marketing, make sure your brokerage provides you with engaging marketing materials. There should be an in-house marketing team in the brokerage that should be dedicated to helping you build your personal brand.

5.   Toxic or Negative Work Environment

You feel drained by the brokerage’s negative work culture and office politics.

Have you been feeling that your passion for real estate is slowly fading away? There’s a strong possibility it’s because of a toxic work environment. There might be constant drama, gossip, or a competitive culture instead of a collaborative one at your brokerage. This toxic work environment can drain your energy and affect your motivation.

What to look for in the new brokerage –

The place where you plan to work should have a positive and collaborative work culture. There must be a professional environment free from unnecessary drama and office politics.

6.   Negative Reputation of the Brokerage

The negative reputation of the brokerage is rubbing on you.

Your reputation as a realtor is closely tied to the reputation of the brokerage you work in. If your brokerage has a bad reputation in the market, it will negatively affect how your clients view you. Clients may not be willing to work with you because of the negative reviews and reputation of your brokerage.

What to look for in the new brokerage –

When shortlisting brokerages, pay close attention to their reputation. You must look at the client reviews and ask the agents working at the brokerage about their experiences. You should feel proud to associate your name with the brokerage – not feel embarrassed about it.

Make the Switch Now Before It Gets Too Late

Does any of these signs ring a bell for you? If so, it’s time to make a change and switch to a new brokerage before it’s too late. Sticking around in an unsupportive brokerage will only hurt your business and career in the long run. So, make the switch to a supportive and reputed real estate brokerage in Toronto before it gets too late. You deserve to be in a brokerage that pushes you forward, offers great tools and support, and helps you reach your full potential.