Going from real estate agent to broker owner is a monumental shift because you go from having the safety net of someone else’s brokerage behind you to being on your own.
There are two different types of people in real estate: those who like to nurture and help and those who are in it for the kill.
If you’re in it just for the money, you won’t be making it — at least not in the first few years. So to you agents who want to make more commission, becoming a broker isn’t necessarily going to do that.
As a broker, you have to pay for everything including insurance, salaries, the coffee, the toilet paper — it’s your responsibility.
If you’re interested in building a culture and nurturing individuals, become a broker.
It’s way harder than being an agent, but if it’s in your heart and you love it — go for it.
Peter Lorimer is the CEO of Beverly Hills, California-based PLG Estates.