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Adrienne Web…,  in Lewes, DE

Im a brand new agent looking for a broker. What questions do I ask when looking for brokerage firm?

Asked by Adrienne Weber, Lewes, DE Mon Feb 20, 2012

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Annette Lawrence’s answer
Not long ago we saw Trulia folks posting "Wild, off the wall questions," and we didn't like that.
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.
0 votes Thank Flag Link Wed Jan 29, 2014
Welcome aboard Adrienne.
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,
Annette Lawrence
ReMax Realtec Group
Palm Harbor, FL
727. 420. 4041
3 votes Thank Flag Link Tue Feb 21, 2012
on point
Flag Mon Nov 9, 2015
Dear Adrienne,

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.
2 votes Thank Flag Link Tue Jan 1, 2013
The first question that you have to ask, is 'Can you show me your training calendar?' If they don't have one, meeting should be over. Successful real estate agents understand, that what is most important, is where are you going to NET the most money. Who has the best training, education and support, so that you can take your business to the highest level, and make more money. 100% of $0 is still $0.
2 votes Thank Flag Link Mon Nov 12, 2012
Congratulations on getting your real estate license!! As a new agent training is so incredibly important? Often times agents complain that they are given a desk and no training so they are left to figure things out on there own. What you need to do is really do your research on all the real estate companies in your area. I am a new agent well. It took me about two months before I signed with the company and office I am with now. It is important that you not only find a company that best fits your needs but also a broker that will help you build your business and wants you to be successful. One important question to ask is does that particular company offer a retirement plan or residual income. Feel free to call me at (631) 827-9878 and I will be more than happy to help you in any way that I can in your search.
2 votes Thank Flag Link Wed Feb 22, 2012
It depends on what's important to you, and I suggest you make a list of things that are important to you and figure out what a good answer to those questions might be.

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,
2 votes Thank Flag Link Mon Feb 20, 2012
This appears to be a recycled question from nearly a year ago......although not time sensitive, one would have to question why?
1 vote Thank Flag Link Tue Jan 1, 2013
First and foremost you want to surround yourself with successful agents--figure out where the top agents work and go there. Approach one of those top agents and see if they need help--there is nothing that can take the place being mentored by someone who has a successful track record--you help them and learn from the best--truly a win-win for both.
1 vote Thank Flag Link Tue Jan 1, 2013
Congrats on getting your license!! The most important things in my estimation is making sure you get really good training, and some mentorship. I'm fairly new, as well, but I feel like I have had a wonderful advantage over others because I'm on an amazing team who has taken me under their wings and taught me the ropes. Also, however, the training that our company offers is by far the best around. Definitely look for brokers who offer help, otherwise you will be left alone to make it on your own. Best of luck to you!
1 vote Thank Flag Link Tue Feb 21, 2012
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.
1 vote Thank Flag Link Tue Feb 21, 2012
Training, mentoring and lead sources are so important to establishing yourself. I looked for a more formal training program when I started --- made sense to me coming from the corporate world. We had classroom training for a set period during and a structured mentor program for the first year. Also, new agent training continued for quite a while, with established goals around open houses, calls, etc - all of which worked well for me to build my knowledge and confidence.

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!
Jeanne Feenick
Unwavewring Commitment to Service, Unsurpassed Results
1 vote Thank Flag Link Tue Feb 21, 2012
Training training and more training. Will they provide you a mentor? Also, did I mention to look into their training program?

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!
1 vote Thank Flag Link Mon Feb 20, 2012
One that has lots of inventory so you can borrow listings to get started. Inventory attracts buyers, and sellers that want to be buyers. Many agents will tell you open houses are a waste of time and they do them only to appease the seller, wonder if their attitude is the reason they are a waste of time?
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,
1 vote Thank Flag Link Mon Feb 20, 2012
As a new agent I suggest you find a team inside of a quality company. It can easier to get help from a team leader who has more time to focus on your success. Our team has fun as we learn to earn:) If you would like to chat about it visit my site for direct contact info
0 votes Thank Flag Link Sun Dec 30, 2012
Are you opening an office here at the beach? ;-) I like your site. Nice and clean...
Flag Sun Dec 30, 2012
Dear Adrienne,

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,

0 votes Thank Flag Link Sun Dec 30, 2012
0 votes Thank Flag Link Thu Nov 1, 2012
Flag Sun Dec 30, 2012
I think the most important question to ask as a new agent is what can you do for me as a new agent. I started with a small independent firm fresh out of real estate school and that was a BIG mistake. Go with one of the large branded brokerages because they have so much more to offer a new agent.
0 votes Thank Flag Link Tue Feb 21, 2012
I really like Mack’s answer to your question and I will add a little to it. Most Realtors® do not have a steady pipeline of leads after their first 6 months after they use up their sphere of influence. Therefore it is important to have a good business plan in place to generate leads. Many new agents in our office start out on a team working directly for the broker. The broker actually hands out some leads to members of his team, as a newbie you will probably receive the leads that others have less desire to work such as the lower listing price leads or buyers which might have some credit issues and need some hand holding for 3-4 months before they are able to purchase. Every area of the country is different in regard to demographics (small towns), economic systems of revenue and the type of real estate practiced, with that being said it is sometimes difficult to offer advice on what would be the most important questions to ask a broker but my top 3 would be education & training, commission splits and lead generation programs.
0 votes Thank Flag Link Tue Feb 21, 2012
First, you need to know yourself and what kind of agent you would like to be. Do you like working with Buyers or do you want to be a Listing Agent, or both? If you like working with Buyers, then I suggest you find a Broker who generates leads and is willing to provide you with opportunities to be successful. Another option is to join a team.
0 votes Thank Flag Link Mon Feb 20, 2012
hi Adrienne
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
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0 votes Thank Flag Link Mon Feb 20, 2012
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