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A word from the wise...gear your business towards working with sellers/investors...there is an old saying in the business..."if you don't list, you don't last" 80% of the time when you're working with a buyer/renter you don't do a deal...80% of the time if you have the listing you make money!
I work in the number one real estate office on the planet. There is some competition between realtors, but mostly it is a friendly comraderie. I have to disagree with Glenn. In the old days the saying was " You have to list to last". However in our current market working with qualified buyers 90% of the time has been better for me. Having something for sale is nice, but it pays no commission unless it sells. It won't sell without a buyer. So if you have a solid buyer, that is like having money in the bank. While I have 1-2 listings at any given time, sometimes they may sit there a little longer than I would like. They key is to find what works for YOU! Good luck!
Maryann Lawler, REALTOR
Keller Williams Realty of Greater Manatee
Don't forget to ask about what costs are incurred by the company and what costs you are responsible to pay. That is also going to vary. Do you have to pay for your own agent web site, print ads, etc... or does the company pick up those costs. You need to run to numbers.
As far as the debate over building a listing inventory vs. representing buyers, both are equally important. At the moment, ready, willing, and able buyers are harder to find. But we know the market changes over the years. Your best bet right now is to reach out to everyone you know to let them know you have a great new career that you enjoy...And associate yourself with the company you feel most comfortable with and will provide you will daily hands-on advice.
Again, best of luck!
If you have drive and determination, I would go on my own. If you need a mentor or someone to hold you accountable every day then you may want to join a team. The team lead will most likely have daily requirements or schedule for you to adhere to. There split may also be lower on a team, as you have to help pay the teams overhead most of the time. Talk to several teams and several individual agents and see what works best for you. Good Luck!
I have been in the business for over 6 years and I would recommend starting at a reputable boutique firm first. When you first start, there is so much information to absorb quickly that you can get a little lost in the shuffle at a bigger firm. At a smaller firm you will get the hands on training you will need to minimize your learning curve. Best of luck.
It doesn't matter if it is a small firm or a larger firm. What matters is that the company has regular training for their agents. Also, Ricky, it is what your prefer but training is very important.
Real estate is TOUGH. You need somebody that can teach you the ropes and help you succeed.
First of all welcome to the real estate business.
Now you are not an employee now you are an entrepreneur. And you need to go out there and interview as many companies as you can. Each company is unique with its strategies advertising and management support. What i can suggest you as a new agent you need always to ask your prospective company : do they have E&O insurance. In my point of view it is crucial factor that can save your carrier from mistakes that you might do as a new agent. Unfortunately not every company in NYC has it. Well, good luck with your search and if you have any more questions you always can contact me at Coldwell Banker Ac Lawrence Company 347-418-2581.
If you want to end up in a big firm with the power of brand then you should start at a smaller brand learn all the ins and outs and then branch out. If you want to create your own brand then you should learn from a powerful brand first.
Hope that helps.
Kevin Wong, CPA
A rental, sales, or even buyer exclusives/agreements are typically not lost over the size of a firm- rather, the comfort level, or lack there of in either price, commission, or agent making the presentation. When interviewing firms to find your right fit, just as in Teams- do your homework- ask questions, and always- have it all in writing!
Learn about objection handling to your potential clients: On the positive note: Bigger firms...you are lost in the crowd and only a number. Smaller firms...you are more important to us and we provide personal, hands-on attention to your needs.
See what I mean? A successful Realtor should be successful wherever they go. Clients do not particularly hire a firm...they hire the individual.