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Being a property or real estate agent can be a very rewarding career for those who are hardworking and maintain a good relationship with their clients. Some real estate agents work for a company, like a developer or a real estate agency whereas some others are independent or freelancers. Some agents may be wondering what the difference between being attached to a corporation as opposed to going at it alone. There may also be those who question which is better.
The truth is, both being a freelance agent and corporate agent has its benefits and negative sides. Here we answer some of the burning questions agents may have.
What is the main income difference between corporate and independent agents?
When you’re an agent working in a corporation, usually you will have a basic salary and on top of that, the commission you get from the sales of individual property units. On the other hand, independent agents rely solely on commission from sales as a source of income.
What about the other benefits of being independent agent?
Being an independent agent allows you to be out of the structured environment of a corporation and you will be able to implement your own style of sales. In a corporation everything from what you can and cannot say to clients is controlled. On the other hand, being and independent agent allows you to get more personal with clients and tailor your style to suit each client’s personality.
Being a freelance agent allows you the flexibility to represent any property you want, increasing your sales opportunities instead of only selling what the company wants you to sell, which may be limited.
What are the benefits of being in an agent in a company?
Well, firstly the stability of being part of a company means that you get a monthly salary despite having low or no sales. You also have the advantage of a support system and tools for you to succeed, including things like training. You also have an external motivation system is the form of sales targets and the like, as opposed to self-motivating when you are independent.
Being affiliated to a big name company is extremely useful to establish a reputation for yourself when you first start out, as well as winning you networking opportunities.
Should I leave my agency and go freelance?
This decision should really be made carefully and after much careful consideration. If you are a new agent and have no contacts and no reputation, it would not be a good idea to start out on your own. However if you have tonnes of potential clients and people in the industry know you, or you have several junior agents under you, you can choose to come out and form your own independent company apart from the corporate setting.
