Cloud Based Real Estate Brokerage
I have recently become a North Carolina Real Estate Broker in the North Carolina Triad Area. I am searching for a Brokerage to “hang” my license. I am conducting plenty of research first before I do so. I was licensed in the State of California for close to ten years before I arrived in North Carolina, therefore I’m not uninformed of the real estate industry in general terms. I originated mortgage loans in California. During my research I have come across cloud based real estate brokerage, i.e., eXp realty, Real, etc. What is your commentary/opinion? I’m semi-retired, only interested in real estate part-time, and this time around my interest in residential real estate sales rather than loan origination.
Seems going with a franchise for a bit to obtain the training initially is wise before going off to a cloud based brokerage. Please provide insight. Greatly appreciated!
I covered the pros and cons of working for a virtual brokerage pretty extensively in this article: https://fitsmallbusiness.com/how-to-choose-real-estate-company-to-work-for/
While they work great for some people, they can be a nightmare for others. The camaraderie, support, and simplicity of working from an office is a huge selling point for many people. You have secretaries, conference rooms, T1 internet, and all the other trappings of an office.
Even if you’re not concerned about comfort or working with other people, your clients might balk at the idea of working with someone who has no local presence.
That said, you get autonomy and sometimes a better split in return so might be a good trade off. The only sticking point is that most brokerages will give preference to agents that work full time.