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Marvin, Other/Just Looking in Los Angeles County, CA

How do I find the right broker for me?

Asked by Marvin, Los Angeles County, CA Sun Oct 28, 2012

e & o insurance, desk fees, commissions, advertise, communications

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26
CRESTICO Los Angeles Broker’s answer
Hello Marvin,

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.
0 votes Thank Flag Link Mon May 27, 2013
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1 vote Thank Flag Link Tue Oct 30, 2012
I would stay away from companies with a mindset that they are doing you a favor to talk to you, require you to meet a sales quota the first year, and that everything is either their way or the highway. Remember that you will be in business for yourself, paying THEM from the commissions you earn, and you should ask what THEY will do to support YOU, and what training and tools they will offer you.
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.
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1 vote Thank Flag Link Sun Oct 28, 2012
Interview as many of the companies around the area you wish to be working in and see what they are about and what they are offering you. When you join a company, it is basically a partnership. They see something you can bring them and you should see what the brokerage affiliation can bring to you. It is not just money or training... there are other intangibles that come into play... you need to tour the offices and see what other agents work there, the kind of production they put out, even the energy of the office can make or break a career... When you have met with and visited several brokerages, you will start to get a feel for what you think will work for you. It is as much about what you think as it is about what you feel. Trust your instincts and spend a little time doing your research. Good luck.
1 vote Thank Flag Link Sun Oct 28, 2012
Dear Marvin,
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.
0 votes Thank Flag Link Mon Sep 30, 2013
I'd make sure to interview multiple companies and see what they each have to offer. I'd also recommend talking to agents that work at these companies. Good luck!
0 votes Thank Flag Link Fri Sep 27, 2013
I wouldn't only interview brokers, I would talk with other agents that work for that broker. That's where you're going to get 100% reality.

Go for what you need. A broker with training and tools that you need to succeed. Good luck!
0 votes Thank Flag Link Thu Sep 26, 2013
Marvin,

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...
0 votes Thank Flag Link Wed Sep 25, 2013
Hi Marvin,

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!

Jodie
0 votes Thank Flag Link Tue Nov 13, 2012
You have to focus on where are you going to NET the most money. Who has the best training, education and support, so that you can do more business and make more money. Commission structure on its own, has no value. If a real estate company doesn't offer any training, education and support...who cares what their commission split is? Remember, 100% of $0 is still $0.
0 votes Thank Flag Link Mon Nov 12, 2012
The right broker depends on your goals.
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
727.420.4041
http://RealEstataeMadeEZ.us
0 votes Thank Flag Link Mon Nov 5, 2012
My suggestion is to call local brokers in the market you'd like to work in and schedule interviews with them. Than you can make your choice after learning what each one has to offer.

Lon Mapes - Redlands Realtor & Consultant

Multimillion Dollar Sales Producer
(909) 726-5935

Follow us on Facebook http://www.facebook.com/orangehillrealty
0 votes Thank Flag Link Sun Nov 4, 2012
I found my brokerage via my loan broker. The brokerage I work doesnt charge any of the desk fees, etc. They only charge fees for each transaction that is performed. they give tons of support. I really dont know how much better it can get. Good luck!
0 votes Thank Flag Link Sun Nov 4, 2012
At RE/MAX Elite we take great pride in our associates and our effective management team. Each office is independently owned and operated. We have commission programs for associates at every level based on their experience, skills, and production. We invite real estate professionals interested in career opportunities at our offices to visit us and learn directly from our staff the resources and benefits of joining our Brand RE/MAX Elite. For more information on your Real Estate Career options, call us (818) 500-4007 email marine@silvahameline.com.
0 votes Thank Flag Link Tue Oct 30, 2012
Marvin,

Are looking to join a Brokerage firm or you are looking for Real Estate Agent/Broker to hire?
0 votes Thank Flag Link Tue Oct 30, 2012
joining
Flag Tue Oct 30, 2012
Call me! I can guide you and help you...
0 votes Thank Flag Link Mon Oct 29, 2012
Best way to ask your family or friends for referral and interview few broker. Make sure the person you like to work with is familiar with your neighborhood and has solid marketing plan.

If I can help you with your real estate needs or answer any questions please contact me at (310) 466-9595 or simondarvish@audreymaxestates.com.

Best of Luck

Simon Darvish
Broker / CIPS
Audrey Max Estates
http://www.audreymaxestates.com
0 votes Thank Flag Link Mon Oct 29, 2012
The best place to start in my opinion is to ask trusted friends and family for referrals of agents they used and had a positive experience with. This is much better than just intereviewing agents cold that you have no connection to.
0 votes Thank Flag Link Mon Oct 29, 2012
Dear Marvin,

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.
0 votes Thank Flag Link Mon Oct 29, 2012
Interview several and find the one that is the best fit for YOU. When it comes to real estate brokerages it is definitely isn't a one size fits all.
0 votes Thank Flag Link Mon Oct 29, 2012
I started out in a large brokerage with no personal relationship with my broker. When someone I worked with who was a successful agent decided to form a brokerage, it was a no-brainer decision for me to make the switch. Her husband is our broker, we are a very small local firm, and I love it! I've gained lots of practical, every day knowledge from her experience and the one other broker agent in our office. Its been a goal of mine to take lots of designation courses as well as other continuing education and webinars. I appreciate the easy access to my broker. My split is beyond reasonable, and I feel like I've had every learning opportunity I needed, plus assistance with lead generation.
0 votes Thank Flag Link Sun Oct 28, 2012
Join a well organized and managed broker-owned office that offers daily training, motivation, and support.

Good luck.
0 votes Thank Flag Link Sun Oct 28, 2012
Good luck Marvin. Let me know if I can be of any assistance to you with pre-qualifying your clients? I assist Agent/Brokers clients throughout CA with CHF Access half percent down payment program with a minimum 580 fico score which can also contribute towards their closing costs as well. I also offer USDA Rural for out of city limit homes. The USDA Rural is zero down and minimal mortgage insurance that requires a minimum 620 fico score to qualify. I do FHA with fico's between 500-579 with 10% down payment. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify. I can assist you to get some clients qualified so that you can show them some homes?

Here is a flyer and needs list of documents that are needed for processing a loan approval. I am available from 9am til 9pm 7 days a week to assist you if you have any questions.

CHF Access half percent down flyer, pdf
http://tinyurl.com/9ewk9nq
Sheryl Arndt, standard needs list checked, pdf
http://tinyurl.com/9m2rsb2
Why Rent brochure
http://www.frankandsheryl.com/Documents/Why%20Rent%20brochure…
http://www.frankandsheryl.com/Documents/Why%20Rent%20brochure…
CHF Access income limits http://tinyurl.com/8lzf8he

http://www.Under640FicoScoreLoans.com

http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Broker – Sr. Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Sun Oct 28, 2012
Marvin,
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.
0 votes Thank Flag Link Sun Oct 28, 2012
Make appointments and ask questions! I started out with a small boutique agency for my first year and a half in this business. I then switched to Keller Williams and it turned my business around! You need someone who believes in you, offers you continuing education/training and is available to you.

If you want more info on KW just contact me!

All my best,
Dot
Dot Chance, Realtor®
Certified Distressed Property Expert – CDPE®
DRE License #01494182
Keller Williams Realty World Media Center
http://www.DotChance.com
818.339.7712

WHEN YOU THINK OF REAL ESTATE...Think DotChance.com! My business thrives from your referrals!
0 votes Thank Flag Link Sun Oct 28, 2012
Hey Marvin,

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!!
0 votes Thank Flag Link Sun Oct 28, 2012
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