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Jacqui Rum, Real Estate Pro in Westlake Village, CA

New agent here, looking for information about Coldwell Banker. Any thoughts/opinions? Obviously looking for a company that provides lots of training.

Asked by Jacqui Rum, Westlake Village, CA Tue Mar 25, 2014

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Lots of REALTORS like Coldwell Banker.
Lots of REALTORS like Prudential.
Lots of REALTORS like Exit.
Lots of REALTORS like Keller Williams
Lots of Realtors like Realty Executives
Lots of Realtors like REMAX.

What ALL of these REALTORS have in common is they found a way to make it work.
So many environments...some make it work, most fall by the wayside.

The number of 'bounces' you will endure in your first five years depends on how well you know yourself. Without exception, success was NOT dependent on training but on knowing one's self.

This is the difference between the Bowflex that have morphed into a close rack or the one that chiseled a pudge into a sinewy specimen of heath.

Be certain to keep your focus not on training but on a relevant and effective MENTOR. One places you on stool in a conference room, the other compels blood, sweat and tears. One excuses the infidelity of your commitment, while the other holds you accountable for the commitments you make.

Know yourself and you will find your way where ever you land.

Best of success to you.
4 votes Thank Flag Link Tue Mar 25, 2014
Hi Jacqui

Look around your area and figure out where the high producing, successful agents have hung their licenses. Better yet approach one of the top producers and see if they need help--the best way, in fact I believe the ONLY way to be trained is not through a brokerage training program but by a successful agent. Find the right person and I promise you it will be a win win for both of you!
1 vote Thank Flag Link Wed Mar 26, 2014
Here is the thing: a particular franchise office is only as good as the people running it. There can be an XYZ Brand Real Estate Office (C21, CB, KW, Remax, Weichert, etc) in one town that does AWESOME and there can be another one in another area that is horrible and just barely limping along - what's the difference? It's not the franchise name, it's the people in charge.

The CB in this town may be wonderful - because awesome people are running it. The CB in another town could be at death's door and they see you as fresh meat, you can be good for one or two sales and then anything else is gravy but they may not invest a thing in you or your training....it's more involved than just attending the Franchise University Webinars.

Interview several brokerages. Which have "energy" - which seem like they are active, with active agents...with a broker or manager who is on hand (not competing with the agents) and ready to advise train and teach you? Don't pick a particular franchise just because you like the name or someone else says they're awesome...every franchise has awesome offices and sucky offices. You have to figure that out! :)

I'm currently with a Weichert franchise office. I wouldn't necessarily go with another Weichert office if I moved just because I'm familiar with and like my current office. The reason I like my office is not the name on the sign - it's the people inside the door that matter.
1 vote Thank Flag Link Wed Mar 26, 2014
Very helpful, thank you Karen
Flag Wed Mar 26, 2014
I love Coldwell Banker. I started in real estate in 2007. I went with CB because my past was in the medical field and I really knew nothing about real estate. They had a great mentor program and I loved that through CB University their was a ton of educational opportunities. Also, I felt that the brokerage offered a lot of classes after meetings. I recently had to move to follow my hubby in his career and where we moved their was no CB available to affiliate with. I am now with Windermere. I find Windermere equally as wonderful. I don't need the hand holding I did in the beginning but their is a lot of opportunities.
I wish you the best of luck. I really dont think you can go wrong with CB if that is where your really looking. They are wonderful. I wish you the best of luck with your new career!
1 vote Thank Flag Link Tue Mar 25, 2014
Thanks so much Heather! I was in the medical field as well and this is all new to me.
Flag Tue Mar 25, 2014
If you are a new agent look for an office that provides training. Go into the office and get a feel for the energy. Do agents come into the office? Who will be available to mentor your development and success. One other point to consider is online tools. E-cards, Contact Management systems. See what is included and what is extra.
1 vote Thank Flag Link Tue Mar 25, 2014
Jacqui,

Above all else, you should have a comfort level with the local management of the office. The overall office sales volume is important because it may provide you with some great opportunities to meet clients at open homes. Administrative support is important because those are the people who can make you look really good or really bad.

CB is part of a publicly traded real estate conglomerate. It's "Residential Brokerage" arm is nationwide and is locally managed...with a lot of layers or corporate in between. CB also franchises it's name. These brokerages utilize a lot of the branding, but are independently owned an operated...which is more of a ReMax model.

Take a look around town. Meet with the managing brokers. Have a lot of conversations. As someone said earlier, just know that some brokerages have financial incentives for agents to recruit other new agents. So, be wary of anyone with a "skin in the game".

Your choice doesn't always boil down to who is going to offer you the best commission split. Fees take on a variety of forms from brokerage to brokerage. So, just know what your "start-up" and ongoing costs are going to be.

I made the jump from CB to a locally owned brokerage a couple of years back and sincerely appreciate that a smaller, local brokerage is in better position to respond to market trends or challenges because solutions don't have to be approved by a dozen layers of management...it comes from upstairs and can be implemented quickly. I work around a group of more seasoned agents now. Bigger isn't always better, especially when the brokerage is a "cubicle farm" where the faces change on a weekly basis.

I hope this helps. It's an important decision because you're going to be building your own brand, as well. Momentum gets interrupted when you make a move. That's why making the best choice now is a big factor in your ultimate success.

Good luck,

Ken Gerrans
john greene Realtor
630-946-4688 cell/text
kengerrans@johngreenerealtor.com
1 vote Thank Flag Link Tue Mar 25, 2014
The company I started with (and had carefully chosen!) was bought by CB so I was with them for about ten years. Perfectly fine company nationally but I think what matters most is what the local office is like in terms of the manager, the location, market share, agents and support staff. Those are the key factors IMO.

Real estate is an interesting field. You are entrusted with enormous responsibilities right out of the gate and no amount of training will give you everything you need. You will still encounter new twists and turns years in. When you're starting out it does usually seem like training should be the key differentiator but I think that nowadays, in particular, you can pick up so much knowledge and best practices yourself - hit the archives on ActiveRain and become a regular reader too, take webinars, watch videos on Youtube, etc. Companies always tout their extensive training but I truly don't think it makes loads of difference one way or the other.

Ongoing mentoring and a manager who's willing to answer questions and give advice (believe me some aren't keen on it) is more important than the classes for new agents IMO. You also want to end up in a successful office with lots (rather than just a few) of successful and experienced agents. You will learn so much just by showing up - and I do think showing up - being in the office daily - is critical especially when you're new. You'll get to observe experienced agents "doing real estate" and opportunities tend to come your way too if you're there.

Talk to agents in your market. See if some might be willing to go out for coffee and an informational interview. See if you can get their take on the plusses and minuses of the local offices. Bear in mind that some franchises are set up on a model where agents earn money from agents they recruit.

Good luck! It's an exciting and rewarding field.
1 vote Thank Flag Link Tue Mar 25, 2014
Thanks Elizabeth! You have great points about webinars and doing training yourself. Thanks again
Flag Tue Mar 25, 2014
Each franchise is independently run so it would depend on which Coldwell Banker.

Ask experienced agents what they think of various agencies and interview both franchise and non-franchise brokers.
1 vote Thank Flag Link Tue Mar 25, 2014
Hi Jacqui,

You are going to see lots of people offer lots of reactions. Some will like Coldwell, some won't. It is one of the older franchises. What I did when I was starting out was to call agents who worked in the brokerage I was thinking of joining. Ask agents what they like and don't like about the company...that will provide some valuable insight.

Best of luck.
1 vote Thank Flag Link Tue Mar 25, 2014
Thanks! Never thought of that, that's a great idea!
Flag Tue Mar 25, 2014
Each office is independently owned and operated so each office can be different. Interview all of them and see which one offers your the best training. I would email all of them and see which ones are slow to respond and cross them off the list immediately. Besides training and prompt responses I looked for a broker that didn't have high monthly fee's as I figured it was going to take me a few months before I closed my first deal and didn't like the thought of me paying $1000+ in fees without any income.
0 votes Thank Flag Link Mon May 19, 2014
You have lots of great advice below but I would add to find a good agent to serve as your mentor. Training is important but mentoring is what will really put you over the top. Find a "rainmaker" that either has or is building a team. This will allow you to see what right looks like while you get your feet wet.

Good luck.
0 votes Thank Flag Link Sat May 17, 2014
I just got started with Coldwell Banker in Calabasas a few months ago and they have been terrific. Their training and mentoring program has been fantastic and the manager, Carl, is always available to help and give advice and answer questions. I am very happy with my choice to go there.
0 votes Thank Flag Link Fri May 16, 2014
does 303 lakeridge rd 76108 lakeside tx home have a view through the sliding glassdoor into the sunroom
Flag A few hours ago
I joined Keller Williams Realty because they offer tons if training in the office, online, you can get someone train you even over the phone from Market leader website. I You have team leader who can direct your steps & more experienced agents in the office you can always ask. Take all the classes that are offered in your office ! don't know much about Coldwell Banker..Go online do some research.. if you have any other questions, email me directly. I will be happy to answer!
0 votes Thank Flag Link Wed Apr 9, 2014
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