Now we are seeing Zombie questions!
Oh well. Your 'Why' deserves a TU.
If this appears as a duplicate, it because of the rare and seldom experienced glitch in the Trulia system.
Let me splash a little chilled water to get your attention. The reality is, 95% of freshly minted agents will be out of business by the end of the 2nd year anniversery. This has been true for the 15 years I've been in the business. During those 15 years, very little has changed. 95% of the advise given to 'newbies' is the same....get more training...and the results are 95% are smarter ex-licensd agents. The tradition is fatally flawed. To be amoung the 5% who succeed, you would be well advised to focus not on what the 95% say, but what is contrary and promoted by the few.
You need to focus on one thing and one thing only. RESULTS. If the statiscal results regarding the productivity of the brokerage does not support your vision of success, don't fool yourself, you don't earn a living warming a seat or attending 'rah-rah' sessions. You earn a living by completing transactions. If the average agent in the office is not doing any transactions....their system and process DOES NOT WORK and will not work for you. (the broker, yes, you no.)
Obviously, you need to know more about this selection process. You can search Trulia for my earlier comments and details regarding this specific topic.
Remind yourself constantly, as a licensed agent you represent a money stream to everyone else. Did I mention EVERYONE ELSE! You are the only one committed to looking after your money stream. It begins with this first decision. Look at the bottom line....the results as revealed by the local MLS data.
Best of success to you and leveraging the incredible opportunities ahead of you,
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
A new Agent needs concrete support, training and guidance. It should not cost you half of your commission to get it either. You need a brokerage that is "pro-active" in helping you obtain clients and closing transactions. This is where most new agents will lose steam and many quit before the second year. Where will your clients come from?
This is what you should investigate as you interview "brokerages" and before you make decisions. Find out specifically what they are going to do to help you gain business and successfully close.
If they advertise that they can provide leads, how many leads will you be getting ? Franchises will receive a good part of your commission so they should be providing what you need to succeed.
New agents generally fall somewhere between the following extremes . . .
No contacts & need leads - lots of contacts & need opportunity to work them
No industry experience & need education - coming from related RE background & need guidance and support
Getting my feet wet & giving it a try - have business plan and action plan ready to go
So it's good to find a broker that is best suited to your needs, at a compensation plan that works for you.
All the best,
Congrats on getting your license and bravely entering the world of real estate!
I have a unique first hand experience that I can share with you. I started with a small local company that supplied me with nothing but an opportunity to make money and had to learn it all the hard way. I am now with the soon to be, #1 company in the country, Keller Williams. They are all about the agents and have a world class training and mentoring system that sets you up for success. Before I made the switch I interviewed with several companies large and small. I am happy to give you my feedback and share more, feel free to call me at 302-383-5412.
Compensation approaches will vary - and higher splits are very appealing but when you are new to the business, be sure that you do not sacrific the lure of higher splits for good training. You need to develop your skills in order to book business out of which that compensation will flow. I look at the first year or two as getting to know the ropes and year 3 as the year it falls into place.
Good luck to you!
Unwavewring Commitment to Service, Unsurpassed Results
I would also look into the amount of inventory they have compared to other agencies in the area. As someone who started with the #1 company in my area, that has been huge.
Good luck in the new career!
Also a firm that has some experienced agents you can learn from, ask if you can tag along on appointments, make sure to keep your mouth shut while on their appointment, good way to learn the ropes. Good luck,
Every area brokerage has something wonderful to offer. You just need to find somewhere that you feel comfortable, a place where you can grow and learn, and a place where you will have guidance and opportunities. Ask yourself, "Who can I become here?" If you are excited about the answer that is a good sign. After that, its all up to you. There are no secret formulas in real estate other than being disciplined and getting the most out of your unique talents. Welcome to the family!
All the Best,
I believe that your most important factor in getting started is a solid education program if you don't know what you are doing and cannot get help, this business will not be long for you. Don't just interview brokers - ask to speak to agents both new and experienced. Find out how new agents got up and running in their company. Ask about the systems that are provided to agents, their agent turnover rate and of course what kind of commission split to expect at what levels. There are many good agencies available to you and you must find the best fit for you. Feel free to contact me with any further questions or concerns. Best of luck..............................chris