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P Wils, Real Estate Pro in New York, NY

NYC - I am a "pending" Real Estate Sales Agent looking for advice on "a great place to start" my new career. As a mid career

Asked by P Wils, New York, NY Thu May 20, 2010

changer I am seeking a Co. that provides training, mentorship and professional development. I want to build a career in the industry. Residential Sales is my starting point. All advice, guidance, direction is greatly appreciated. Thank you.

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Well, since no one has mentioned a specific company name - I will suggest Prudential Douglas Elliman - certainly a high presence in Manhattan....and all the way to the Hamptons......lots of offices to choose from - pick one, and set up an interview!

Best wishes..........
0 votes Thank Flag Link Fri May 21, 2010
Hi Wils.

I agree with what Carl suggested and that's to start working with a successful team or broker.
While many firms offer training, I’m not sure if they offer real mentorships. From my experience, best way to get mentored is to work side by side with a seasoned broker who has business. You will find that many veteran agents who have in the business for a very long time rely mostly on referral business. Because you are new, find someone who actively markets and doesn’t sit back waiting for a referral. Find someone who will take you on listing appointments not just expect you to go out and find business on your own.
Training is a funny subject and I say this because after your formal training you are left with a million questions. That’s normal and hopefully your colleagues and management will step up to help out when in need.
When you interview with firms and teams or both, in addition to training ask if you get any marketing dollars and what type of fees you will need to pay. You may or may not need to pay to advertise on top real estate search sites, some firms feed listings automatically. You will need money for flyers, brochures, postcards, business cards, professional photo of yourself, biography, etc…
One thing I learned and I learned it late in the game. I wish that I had all of my systems in place before ever starting. Social Media, Website, Presentation package both for sellers and buyers, business plan, CRM software. You will save time; money and energy if you have this set up from the get go.
I’m going to leave you with one thing, and this one thing will make you or break you. Follow up is ***Key***. You can’t imagine how easy it is to lose a deal or a customer when you don’t follow up.

Good luck and let us know which firm you end up working with.

0 votes Thank Flag Link Fri May 21, 2010
Make sure to look around. Dont just choose the first brokerage you talk to, id suggest interviewing at least 3.
0 votes Thank Flag Link Thu May 20, 2010
NYC is unlike any market in the nation... I suggest starting with a firm who has an excellent training program, and work as an assistant to a well established agent. This is where you will learn the most! Good luck.
0 votes Thank Flag Link Thu May 20, 2010
I'd suggest starting with a team instead of a brokerage per se. In a team, you’ll be able to work alongside a top producer, be given specific training and guidelines AND, in most cases, be given a steady flow of leads along with specific directions on how to utilize them.
0 votes Thank Flag Link Thu May 20, 2010
It's good you've identified the things you're looking for. And they're the right things.

Interview the brokers at a number of different agencies. And ask those specific questions: "What sort of training do you provide new agents?" "Do you have a formal mentorship program?" And so on.

Very often, you'll find companies that answer affirmatively tend to be some of the larger agencies in the market. You'll also often find that the agencies that offer 100% commissions to their agents tend not to offer such training or support. Those aren't hard-and-fast rules but are probably true more often than not. So, start with some large companies in your area. And as a side note, recognize that some well-known seemingly national companies are really just franchises. There's nothing wrong with that, but the point is that the real company you'll be dealing with, in those cases, is primarily that one franchise, not the entire corporate structure.

Hope that helps.
0 votes Thank Flag Link Thu May 20, 2010
Don Tepper, Real Estate Pro in Fairfax, VA
Don't just be interviewed by any realty company--remember to interview them as well--ask about services, support systems, etc.--then choose the one that makes the best impression on you.
0 votes Thank Flag Link Thu May 20, 2010
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