Check out how many listings they have in the area you want to work, whether there is current technology in their office, and where their training takes place. I chose my company largely because their wonderful training takes place right in the office, not at some training center on the other side of town. And the training has been phenomenal. We have a monthly career night as well. Please call me at 818-730-8635 to learn more.
You will have to go out and interview Brokers with a list of questions. Do not go without the list, because you might not get all the essential questions answered.
You need to know:
1. What training is available?
2. Is a mentor provided?
3. What does the company do to help the agents obtain clients?( Open House, advertising, floor time?)
Some brokers do a lot..other do nothing..it really makes a difference!
4. Commissions, and splits
5. Other expenses (E&O, business cards, letterhead, franchise fees?)
6. Requirements (meetings, production, training?)
7. Some brokers like to see the agents in the office, others feel if you are out..you are working...find out what the office policy is.
Go for what you need. A broker with training and tools that you need to succeed. Good luck!
I interviewed with 4 different companies before I chose to go with a boutique firm (a Re/max office with only a dozen agents). I chose that office because I wanted to work closely with other agents, potentially on a team. As a brand new agent, there's a lot you don't know, and working as part of a team gives a little more piece of mind.
Within a month, my team mate (a 20-year veteran) decided to leave, and I followed. I am now at Rodeo Realty - a non-franchise company with a larger office, and I love it. To be able to communicate with all agents at the company is great, and there's so much more training available. At the small remax office I felt almost like I was secluded and on my own, even though I was working with a teammate.
Sure, the commission split and other fees are important, but don't discount the value of the other support and communication. Don't just base it on the costs... if you can make more sales because you have more resources available to you for free, it will more than make up for the 5% more commission you're paying...
Depending on what you are looking for you have plenty of options. Real Estate Brokerages have different plans and options which can help you grow your business.
We are currently looking for 5 active Realtors for our office location on Olympic and Bundy, Feel free to visit our website to learn more about us and available opportunities.
When I was starting out, I felt it was important to work with a larger office that had a lot of producing agents. Because chances are you won't be getting listings for yourself right out of the box. You want to be able to feed off the activity of other agents in the office. If they have a lot of listings, you'll have more opportunities to sit open house for other agents and potentially pick up new clients for yourself. You also want to feel like you fit in with the other associates. Management is important as well, you want to know that management is there for you and will help you solve your problems as they come up. And like many others have mentioned, training is invaluable! Hopefully wherever you choose they will have you assigned to a Mentor who will help you with your first transactions. Good Luck!
Do you want to make money?
Do you have other goals that override making money? Seems like a ridiculous question but you would be surprised how many folks by a ticket on the real estate titanic and expect a different ending. Starting any business without proper research is a costly passage.
Some newly minted agents like to 'help" others.
Still more agents like 'looking at home' and don't see where the money is.
Some agents fell into real estate by default and have no plan, no direction and haven't uncovered a clue. Most enter into real estate having invested no research, no market analysis or even chatted with the big players in the local market.
Not knowing which of these you may be, I'll just jump into the most basic evaluation, the only evaluation...the ONLY question you actaully need to ask any broker. (that is if your intention is financial security for yourself and those important to you) How you respond to what you see will indicate if you have counter-intentions that must be dealt with.
Have the brokers you interview show you the average annual transactions per agent of the OFFICE, not the franchise. The national average is 6 transactions per year. This is the measurable result of an organizations practicing accidental real estate. The brokerage you want to consider will have valid data supporting their claim that their systems and infrastructure actually work in real life. Those brokerages averaging 12, 17, 25 46 transactions per agent per year have irrefutable data and have demonstrated they are the real deal.
The real deal often involves a mentorship or team situation to get the newbie stated correctly. Everyone, however, prospers.
Check out my earlier blogs on the topic to get a sneak preview of how many of the national brands rank. This will allow you the knowledge of a benchmark from with to judge.
When you have identified the heavy hitting brokerage...simply do what they tell you to do!
It's not rocket science.
This is a business,
not a hobby.
Best of Success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group, Palm Harbor
Lon Mapes - Redlands Realtor & Consultant
Multimillion Dollar Sales Producer
Follow us on Facebook http://www.facebook.com/orangehillrealty
If I can help you with your real estate needs or answer any questions please contact me at (310) 466-9595 or firstname.lastname@example.org.
Best of Luck
Broker / CIPS
Audrey Max Estates
It's not an easy task to accomplish, and it depends upon what you are looking for in a Brokerage. For a new Realtor, you need mentorship, guidance and excellent training. When you interview the Brokers find out what they offer and make sure there is follow through.
My first brokerage (Prudential California Realtors-The Mulhurn Group) had tremendous training in a classroom setting that was priceless for me as a new agent. Try to find something like that if you are new.
As a new agent, the most important thing is to get as much training as possible. Don't worry too much about splits, fees, etc. Get as much training as you can, because if CA. is anything like NYC, what you learn for the licensing exam has little relevance to doing deals. Once you have the training and a track record, you pick and choose where you want to apply it.
If you want more info on KW just contact me!
All my best,
Dot Chance, RealtorÂ®
Certified Distressed Property Expert â€“ CDPEÂ®
DRE License #01494182
Keller Williams Realty World Media Center
WHEN YOU THINK OF REAL ESTATE...Think DotChance.com! My business thrives from your referrals!
When it comes to finding the right broker, a lot of factors fall in to play( like the things you listed" e&o,desk fees etc)
But the most important factor for me, having a broker that gave me the free range to brand myself. I wasn't pushed to use certain marketing collateral, or one that said, "you have to do this, or else"
The second thing that played a roll in my decision was the ability to mesh well in the office, between my broker and other colleagues. I wanted a 'Family Like' atmosphere, instead of a "competition". Don't get me wrong, competition is good, but there are different degrees of it.
Interview with the Broker, and if it feels comfortable for YOU, then it's a good choice. Don't let people bad mouth brokers, just because they had a bad experience, working for them. Everyone is different, but do what feels right for you! Good luck!!