Between 2018 and 2023, the real estate industry welcomed over 1,082,558 agents. These new agents formed one diverse group. Their ages ranged from 18 to 52, with backgrounds spanning as far as academia, the military, and healthcare.
But with all those differences, these agents all had one thing in common. They were looking for companies to foster growth and support their early days.
Which real estate company is best for new agents? There are ten brokerages I’d recommend for new real estate agents. From Keller Williams to Redfin, from Remax to Real, these companies have made it a point to create a conducive environment for new agents to thrive.
With extensive experience and thorough analysis of the industry’s top brokerages, I’ve crafted this guide to help you find your perfect fit. We’ll delve into ten companies renowned for fostering new talent like yours. By reading this review, you’ll gain a clear understanding of where to successfully kickstart your career.
1. Keller Williams Realty
Taking up the roles and responsibilities of a real estate agent requires backing. You will need an excellent company to plant your roots and a team willing to water you until you blossom. This is the vision behind one of the best real estate companies in the country.
Keller Williams Realty put it this way on their website: their vision is to become “a real estate company of choice for agents and their clients.”
The company doesn’t only support agent growth. They start the story.
If you have skimmed our article on which real estate companies pay for your license, you know that Keller Williams is any aspiring agent’s dream.
The company, founded in 1983, offers anyone interested in real estate a free pre-licensing education through its KSCORE program. The catch? None.
KW aims to level the playing field and offer every hopeful agent an opportunity to get licensed. But that is not the only thing that earned KW the top spot on this list.
Once licensed and a part of the agency, agents can enjoy a robust training and coaching program.
The commission structure, however, at Keller Williams Realty matches the national norm. In most KW branches, agents can expect to work with the standard 70/30 commission split until they reach their annual cap.
The cap is the maximum amount agents pay brokerages in commission splits. If you reach this cap, you get to keep 100% of the commission earned, no more splits.
Imagine your brokerage or market center’s cap is $100,000 annually. If you sell enough homes to pay the agency $100,000 by June, all that you make that year is yours.
Keller Williams also has one of the best cultures on this list. The company supports agents facing difficult times through KW Cares. The program offers grants to agents facing life-threatening diseases or are affected by a natural disaster.
Pros of Working for Keller Williams Realty
- Discounted Continuing Education courses
- Consistent training and coaching
- Profit share
- Great company culture
- High commission structure
Cons of Working for Keller Williams Realty
- No commission flexibility
- Market centers may operate differently
- You have to pay for some of the coaching
2. Exp Realty
Exp Realty is cloudy with a chance of freedom. The company is a cloud-based real estate brokerage that operates in 24 countries.
It was founded in 2009 by Glenn Sanford, who wanted to create a more agent-centric and innovative company that would reward agents for their hard work and collaboration.
Exp Realty offers its agents a competitive commission split, a revenue-sharing program, stock awards, extensive training, and cutting-edge technology. Its incentive program is among the most developed in the industry.
This brokerage has three central values:
Pros of Working at Exp Realty
- You can work from anywhere, as the company operates on a virtual platform.
- You will benefit from the mentorship and guidance of experienced and successful agents.
- The company has a good commission structure.
- You can earn passive income by sponsoring other agents and receiving a portion of their commission.
- You can own a stake in the company by receiving stock awards for various achievements.
- You have access to a variety of tools and resources that can help you streamline and scale your business.
- You can enjoy a low overhead cost.
Cons of Working at Exp Realty
- You may have to deal with some agents who are overly salesy and aggressive in recruiting other agents.
- You will need to learn how to use the cloud-based platform and the various tools that the company provides, which can be overwhelming and confusing for new agents.
Redfin is a real estate company that aims to “redefine” the industry. Redfin was born from the entrepreneurial drive of David Eraker, an ex-medical student turned software engineer.
Eraker teamed up with Michael Dougherty and David Selinger to create a web-based platform that would allow consumers to search for homes, view property details, and schedule tours online.
Instead of leaving agents to fend for themselves, Redfin hires their agents. This means new agents don’t have to worry about the dry season before they close their first deal.
Redfin’s payment anatomy allows them to enjoy a monthly salary backed by bonuses and benefits.
The company also offers up to $14,000 to help agents cover expenses. Agents may use this check to foot license renewal, listing service fees, and marketing, among others.
This cushion allows you to focus on serving your clients rather than spending time and money on marketing and lead generation.
Redfin operates in more than 100 markets in the US and Canada and is home to over 5,000 employees.
Its mission is to spin the real estate industry on its head to guarantee that your clients are always favored. The company believes that technology and data can make the home buying and selling process faster, more accessible, and more transparent.
Redfin’s vision is to create a world where everyone can find their place. The company wants to help people find homes that suit their needs, preferences, and budget. Redfin’s values are what guide its actions and decisions:
- Honorable: Do the right thing, even when it costs a sale.
- Fire: Be passionate about redefining real estate and delivering value to customers.
- Rally: Work as a team and support each other’s success.
- Genuine: Be authentic, honest, and respectful.
- Find a way to win: Be creative, resourceful, and persistent in overcoming challenges.
Pros of Working at Redfin
- You get a salary, instead of relying on commissions.
- You get leads and support from the company instead of generating your own business.
- You have access to Redfin’s technology and data.
- You receive benefits such as healthcare and paid time off.
Cons of Working at Redfin
- An employee structure could minimize your earning potential.
Remax is an award-winning global real estate franchisor flying its balloon in more than 110 countries. A company that started in a small office in Denver, Colorado, is now home to nearly 140,000 agents.
Since its launch in 1973, Remax has upheld the vision of its founders, Dave and Gail Liniger. This vision was to create an innovative and entrepreneurial culture that affords its agents and franchisees flexibility and independence.
Remax has one mantra: Outstanding agents = outstanding results.
The company also prides itself on its educational offering. Remax has a comprehensive agent training program.
Remax University offers up to 70 courses, each with an expert instructor. However, agents should remember that these courses are designed to help agents thrive in their current environment; they are not pre-licensing courses.
Pros of Working at Remax
- Remax provides a variety of training and support programs.
- The company has a wide range of resources created to help agents grow
- Remax has a culture of teamwork, professionalism, and excellence, where agents can learn from each other, share best practices, and celebrate achievements.
- Agents have the opportunity to specialize.
Cons of Working at Remax:
- Remax agents face a high level of competition.
5. Coldwell Banker
A real estate company as old as time. Founded in 1906, Coldwell Banker Real Estate is one of the oldest real estate franchises in the world. The San Francisco-born company now houses over 100,000 agents in 40 countries.
Coldwell Banker is known for its high standards of professionalism, integrity, and service. But we cannot talk about Coldwell Banker and not mention its innovative use of technology and marketing. The real estate company became the first national brokerage to leverage GPS applications to serve clients better.
The mission behind this agency is to provide its agents with the tools and support they need to succeed in the real estate industry.
Through its CBU or Coldwell Banker University, the company offers industry-leading training, technology, and resources to empower its agents to make a lasting impact.
Coldwell Banker’s vision is to deliver real estate experiences beyond expectations to enhance its clients’ lifestyles. This constant striving has made it one of the leaders in luxury real estate. The company even offers a Luxury Property Specialist certification to interested agents.
This layer of certification helps its agents stand out as leaders in the luxury market.
It would be an injustice to this article if I didn’t mention CB’s Production Power. Production Power is an app that lets agents do more. Some agents, affiliated with this productivity tool have reported a 33% increase in production.
Pros of Working for Coldwell Banker:
- The company provides various tools and services to aid agent responsibilities.
- Coldwell Banker offers customizable real estate marketing assets.
- A philanthropic spirit that supports various causes, such as Habitat for Humanity and Adopt-a-Pet.com.
- Agents have access to concierge services, helping with house design and listing.
- Opportunity to be a certified luxury property specialist.
Some of the cons are:
- The company has a high commission split for.
- Coldwell Banker has a competitive and fast-paced environment, which can be stressful and demanding for new agents.
6. Weichert Realtors
The second company on our list embodies the idea of family. Weichert Realtors is a family-owned real estate company founded in 1969 by Jim Weichert. The company started with a single man targeting commuters at train stations in Chatham, New Jersey.
With over 10,000 agents in its roster today, it has grown into a family of companies that offer a range of real estate services, including sales, rentals, mortgages, insurance, relocation, and corporate housing.
Weichert Realtors’ mission is to provide customers with the best service in the industry. It continues to achieve this by combining a local agent’s personal touch with a national brand’s resources and technology.
The company’s culture of learning and collaboration fosters a supportive and friendly environment for new agents to grow and succeed. Its innovative and customer-centric approach enables new agents to offer a focused service to their clients easily.
Jim has engraved a simple philosophy that marks all of Weichert’s dealings: people buy people before they buy the product or service.
The company revolves around five core values:
- Added Value
- Legendary service
Pros of Working for Weichert Realtors
- Extensive training
- Access to the Weichert Lead Network, the Weichert CRM, and the Weichert Mobile App, which will help you generate and manage leads, communicate with clients, and close deals.
- Good commission structure
Cons of Working for Weichert Realtors
- Pre-licensing education is not free
- There may not be enough room for growth due to a family business structure
7. Berkshire Hathaway Home Services
Berkshire Hathaway HomeServices (BHHS) is a leading real estate brokerage franchise network that operates in the United States and abroad. At the helm of this agency is Berkshire Hathaway Inc.
BHHS has a rich history that dates back to 1998. But it tells tales of an even brighter future. Today, BHHS has over 50,000 agents and nearly 1,500 offices across the globe.
Its brand presence is also unparalleled. If the platform is prestigious and talks about houses, BHHS has been on it.
The agency upholds its parent company’s values of trust, integrity, stability, and longevity. BHHS offers clients comprehensive real estate and financial solutions, from first-time home buyers to seasoned investors. This inclusive package, coupled with automated listings, makes marketing and serving clients easier.
It is one of the most successful real estate agencies on the market. Some of this success is attributed to Berkshire Hathaway’s investment mastermind Warren Buffet.
Pros of Working for Berkshire Hathaway HomeServices
- Access to a variety of tools and resources, such as training, marketing, technology, support, and education, can help agents grow their business and skills.
- A network of professionals and experts who can provide guidance, mentorship, and collaboration
- BHHS has a positive, supportive, diverse, and inclusive culture.
- The company values teamwork.
Cons of Working for Berkshire Hathaway HomeServices
- High commission splits
8. Century 21
With a focus on defying mediocrity to attain excellence, Century 21 is a real estate franchise company that was founded in 1971 on U.S. soil. The agency ranks among the world’s largest real estate companies, with approximately 14,500 offices in 86 countries.
Century 21 is part of Anywhere Real Estate, which owns and operates several leading real estate brands and brokerages, including Coldwell Banker.
Its mission is to deliver extraordinary experiences to everyone associated with the brand. Their end goal is to be a sought-after real estate brand.
Pros of Working for Century 21
- Access to a comprehensive training and development program
- Work with innovative technology tools that enhance communication and marketing methods
- National agent rewards and recognition programs that celebrate excellence and achievement
Cons of Working at Century 21
- High competition and pressure from other agents and brokers
- It has high standards and expectations, which can put pressure on new agents
- Unclear commission splits
Fueled by a desire to improve the real estate industry for real estate agents, Real Brokerage Inc. is a technology-powered real estate brokerage whose origin began in 2014. A vision from Tamir Poleng and a team of founders, Real aims to improve agents’ lives through innovation, revenue sharing, equity, freedom, and flexibility.
Since its launch, Real has expanded to 50 states, the District of Columbia, and four Canadian provinces. It has over 13,000 agents within its network.
Real is also a publicly traded company on the Nasdaq and the Toronto Stock Exchange, allowing agents to own a stake in the company.
The company’s values are to:
This means that Real acknowledges mistakes, works to fix them, and learns from them to improve its services and culture.
Real offers agents nine ways to build wealth. Why? The company is committed to partnering with agents, it works for you.
Pros of Working at Real
- A competitive commission split of 85/15 with a $12,000 cap
- A generous revenue share program.
- An equity incentive program.
- A mobile-focused technology platform that displays agents’ transactional and financial data, provides a CRM system, and integrates with other tools.
- A collaborative and supportive culture that fosters learning, networking, and community among agents, brokers, and staff.
Cons of Working for Real
- It is a relatively new and unproven brand, which may not have the same recognition, reputation, or market share as some of the established and well-known brokerages in the industry.
Compass, or Urban Compass, is a real estate company combining talent and cutting-edge technology. The plan? To make home buying and selling intelligent and seamless.
Compass aims to help everyone find their place in the world by empowering agents with the best tools, support, and culture.
The second youngest realty on this list, Compass, was formed in 2012 by Robert Reffkin and Ori Allon. This new agency has proliferated the real estate industry to become one of the most innovative platforms in the US. Its 300 offices line 70 key markets and is home to over 28,000 agents.
Compass is not only building a real estate platform. It is creating a modern platform where agents and clients can collaborate, communicate, and transact easily and efficiently. It offers agents a competitive edge in the market, as its technology and tools enable them to provide a superior service and value proposition to clients.
This new age take on real estate promises agents:
- More money
- Get their time back
- Build brands
- Network and learn
Pros of Working for Compass
- Access to the best technology and tools, such as the Compass platform, app, CRM, marketing center, and concierge service.
- Support from coaches and mentors who provide guidance, training, and feedback.
- Partnership with a high-quality and innovative service that attracts affluent tech-savvy clients who value convenience and efficiency.
Cons of Working for Compass
- Highly volatile company navigating profit-making stages
- Competitive to join
- Not transparent about its commission split structure
Criteria for Choosing the Best Real Estate Company for New Agents
Choosing the best real estate companies for new agents requires a bit of digging, and reviewing several factors. In reality, these are not the only brokerages new agents can join, but they are the best.
If you’d like to gauge other real estate companies in your area, here are five measuring criteria:
Training and Support
Training and brokerage support should be at the top of your deciding criteria as a real estate agent. This is because conquering a market like real estate needs constant training and mentorship.
I often tell my students that knowledge is as good as money in real estate. A company offering robust training programs and mentorship opportunities will help you navigate the nuances of real estate deals. This is what will help you succeed in the long run.
When you are looking for a real estate company to join, always consider the commission splits. For instance, some companies may offer a 50/50 split, while others might provide more favorable terms, like a 70/30 split.
My advice is that you should weigh the company’s complete offerings and decide what works best for your financial and career goals.
The truth is, you will start a career in real estate at a deficit. Of course, that is unless you decide to join a brokerage like Redfin, which helps agents pay for expenses.
The deficit comes from the countless operational fees agents must bear.
Before you decide which real estate company is best for new agents, find out the cumulative fees your brokerage will charge: desk fees, transaction fees, and even marketing costs.
The culture within a real estate company also plays an integral role in your job satisfaction and success rate. If you thrive in competitive environments where individual achievements are highly rewarded, consider companies like Exp Realty which may have a high-energy sales floor.
Alternatively, if collaboration and team efforts resonate more with your work style, look towards firms that foster a community culture.
Don’t underestimate the power of branding when selecting a firm to associate with. A well-established brand can open doors only because clients trust its reputation.
Think about how household names like McDonald’s or Apple draw customers due to their strong brand identities alone.
A well-known real estate brokerage like Remax or Berkshire Hathaway can do the same for you. They give you a name that clients want to align with.
Joining a Family that Will Become Yours
Choosing the right real estate company to kickstart your career is a significant decision. It can shape your future in the industry and determine how successful you’ll be. These ten companies offer unique benefits, from training programs to supportive cultures, competitive commission structures, innovative technologies, and more.
Remember that what works for one agent might not work for another. Therefore, it’s crucial to consider your personal goals, working style, financial needs, and professional aspirations when making this choice.
1. Research each company: Visit their websites or contact them to get a feel for their culture and understand their offerings.
2. Evaluate commission splits & fees: Understand how much you stand to gain from each sale and weigh up any additional costs associated with working at each firm.
3. Consider training opportunities: As new to the industry, look out for robust training programs that will help accelerate your learning curve.
4. Reflect on cultural fit: Think about where you see yourself thriving.
5. Assess brand strength: A strong brand name could open doors simply due to its reputation in the marketplace.
Take the leap and confidently embark on this real estate journey.
We’d love to hear about your experiences navigating through this process! Feel free to share any tips or insights gained along the way in our comments section below.
If your journey is only beginning, then you will need help to bag that license. Turn your study sessions into exam rehearsals with our free real estate practice tests.