Are Personality Tests Needed for Real Estate Agents?

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Can the liklihood of a real estate agent’s success be predicted by a personality test or bevaiorial assessment?

Some real estate companies have adopted the same screening technique as large companies hiring employees by asking prospective real estate agents to take an Activity Vector Analysis (AVA) assessment or the DISC behavior assessment, which is based on four different behavioral traits: dominance, influence, support, and conscientiousness.

Personality tests have long been up for debate in terms of their predictive effectiveness. Most candidates, even in a real estate recruiting setting, will answer subjectively as how they want to be perceived rather than their true objective habits.

However, real estate agents are a unique segement of the workforce. They are typcally more self-reliant, industrious, resourceful, and independent  than the typical model employee. After all, real estate agents are set-employed independent contractors that like to create their own job. Plus, it is reall agents that choose which real estate brokerage to join.  It is more of a case that agents are hiring a broker and not the borker is hiring an agent. Agents can go anywhere.

It would be very interesting to have a large group of successful real estate agents take a personality test and look for behavioral patterns, but again, it doesn’t guarantee that if someone scores similarly on a personality test then they will be successful in real estate agency.

There are many factors that must work in conjunction to behavior to make an agent successful. Chief among these factors is a large network. A real estate agent needs a lot of people to know what they do competently (sell property) to keep busy. A network would be like gasoline and the right personality would be the match to ignite it.

There is evidence that personality tests for real estate agents could allow a company to determine which agents are a better fit to their company culture. However,  there are too many variable and factors to suggest that having a certain result on a personality test alone would ensure success at an occupation.

 

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What To Look For in a 100% Commission Brokerage

For years, many real estate agents have left the traditional office model of paying 20%-50% of their commission to the brokerage. These agent go to brokerages that charge agents a flat fee instead instead of a percentage of the commission. This flat fee commission arrangement between brokers and agents is what is referred to as a “100% commission brokerage.”

Once a real estate agent decides that the 100% commission brokerage model is right for them, they have several options to consider when choosing the right brokerage.

Does the agent want to pay monthly fees? Many 100% commission real estate offices charge a monthly fee, but some don’t.

Is errors and ommissions insurance included in the flat fee or is is paid separately? Find out if the E&O fee is included in the flat fee or paid separately, If it is paid separately find our how much and how often.

Is there a workspace or conference room to use?

Is there any sort of application or initial fee to start with a 100% commission real estate brokerage?

Can you buy or sell your own home as a real estate agent with a 100% commission real estate brokerage?  Some brokerages have rules against this and require agents to use another agent within the brokerage to represent them on their own home sale.

Is there broker support, and how often is the broker available?

These are the basic questions that should be asked by any prospective agent looking for a 100% commission real estate brokerage.

Balboa Real Estate does not charge monthly fees. Errors and ommissions is included in the low flat fee.

To find our more about our 100% commission brokerage, please CLICK HERE

 

 

 

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Taking Initiative in Real Estate Agency

Often, we have ideas about how to grow our real estate agency business. Some are good and some aren’t, but many ideas never get a chance. This is because we think about something to do, or maybe a way to do something better, but never do it. Just think about it for a second, have you thought of something that you should do, or something that can be done better, a more “right” way, but just never do it?

Everyone has, they just don’t always admit it.

Now think of why you do it? What is the reason that you know you should be doing something, the right thing, but are not?

Wait! Save that answer for a therapy session. To be successful in real estate agency you don’t need to know why, you just need to do something when you realize there is a better way to do it.

Wasn’t it Confuscious, or maybe Phil Knight, that said “just do it.”

Don’t get “analysis paralysis,” if you know there is something that you should be doing, or perhaps a better way to do it, then take control in one easy step: make it so.

 

 

 

 

 

 

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