each office, each region (for franchised offices) and each franchisor will have their own educational requirements and each individual office will participate differently. look for the office that has the most education, training, seminars, classes, jump start programs, etc as possible. trust me, as a new agent, the amount of training you get will directly correlate to your income going forward. ALSO, look for an office that has an â€œin-houseâ€ productivity coach, not a mentor program. and stay away from any office that doesnâ€™t have either.
negotiate the best spilt deal you can, but realize that you are starting a business (mr. subcontractor) and if done correctly, youâ€™ll be in business for a long time, so get in with the company that supplies the whole package. if a better split comes at the price of no education or no coach â€“ does that really serve your initial needs? email me if you want to talk further â€“ see my link.
While I'm sure there are somme good offices, my experience in the Bay Area left a lot to be desired. As a newbie, I recommend a full service brokerage.
Also the comparison of KWs profit sharing to Exit's revenue share is no comparison just ask any CPA. In a KW example on one of their website shows the sponsor of Joe would get $ 250.00 in profit share based on Joe's production in 1 month of $ 500,000 or $ 15,000 in gross commission, and the example assumed the office was profitable. If you sponsored Joe into Exit, and he did $ 500,000 or $ 15,000 in gross commission, you would recieve $ 1,500.00 for your effort, 6 times as much, whether the office was profitable or not. And by the way, the 10% or $ 1,500.00 in this case is taken from the Brokers share of gross revenue.
I will hand it to them in terms of their CULTure however. KW agents are much more dedicated to recruiting for and building the company, when the reward is minimal to none. Exit has paid out twice as much in residuals in 11 years with half the agents, than KW has in 25 years.
Hpwever due to a series of unfortunate circumstances, I am no longer with them. The local office must have the right people in place to provide you with all of the benefits of the national company. You will be dissapointed if the ownership and leadership are the wrong people.
I know people who own EXIT Realty franchises and their support and training programs are not nearly as well developed as K/W's. They are actually set up as a revenue sharing operation in which each agent tends to be motivated to be " his brothers keeper" as it were to maximize their overides. It makes for some interesting relationship dynamics among agents in the office.
For the best read in how to sell real estate, get the Millionare Real Estate Agent, by Gary Keller. It will put you light years ahead as you start your career.
I'm happy to answer any other question you may have.
We have been with RE/MAX since we are started. I think a lot will depend on the brokers involved. You can always approach some of the agents that work at the various offices you are interested in to gather some important feedback.
At the end of the day, however, I believe that an individual agent will make his or her own success no matter of it is Exit, Keller Williams, RE/MAX or any other brokerage. Self generating your own leads will be critical to ones success or failure.
For more helpful hints, visit our site below.
I am EX Keller Williams agent in top office here in Dallas , however I love where I am currently will never change .
Good luck with your career
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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Congratulations! I love real estate! Been in over 10 years and with various brokers. Am currently with Keller Williams. Love it! Love it! They have the most training I have found in the industry. Worked in two Keller Williams Offices and each agent has the opportunity to attend several different levels of series classes. Following Gary Keller's book is working great in this market! Both Keller Williams offices also have the option, if you take it, to work one on one with either a coach or the team leader to prepare a business plan, budget, marketing ideas and materials, etc. I did not have that option with other Companies. Plus our convention in February is solid classes to choose from that are pertinant to this market. Also, Gary Keller and other Company leaders teach many of the classes/sessions throughout the convention and during the year in various cities. Very different culture and work environment. Actually taught me how to work my own business. The only thing about Keller Williams is that each office and their fees vary so shop your area. You will be as successful as you choose to be. The training and hand holding is there - we have at least 4-5 classes a week in our office; not counting the series training for new and newer agents or those who wish to jump start a slower career. If you don't choose to take advantage of the many training opportunities, one-on-one sessions and other opportunities then you will not be successful. Should you choose to participate you will do very well. Keller Williams is acutally adding offices in this market - most companies are not adding offices and many are closing offices. I say - Go with the winner that will help you the most. I'm sure you will find that is Keller Williams.
To your success! Have fun with it!
Sandy Hewett, ABR, SRES
Your Realtor For Success!
I own an Exit Franchise and training varies from office to office. At my office my training at least twice a month is done by a former vice president of Coldwell Banker. I personally do 2 training sessions a month and I was a top producer with Prudential. Last year Steve Morris, the founder of Exit himself was brought in by the region and did 4 hours of training. My admin, contract coordinator, and marketing person do all the training for Exit Promo Shop, Point 2 for the websites and we have guest speakers on a monthly basis. We also have at least one or 2 of the Exit trainers annually as well as a regional event with a guest trainer. We have someone from the Board once a month that teaches MLS to my agents, and he wrote the book. Webinars, conference calls and interactive video is available from Exit International. You want to compare this to having your top producer in the office do the training; I just bet they can't wait to teach everyone in the office their little secrets.
You also reference the comparison of profit sharing to revenue sharing. There is no comparison. The average Exit agent actively involved in sponsoring makes 15 times more in revenue share than the active KW agent makes in profit sharing, that is a fact. You comment about wanting o be their brotherâ€™s keeper jus tells me they do want their brother to be productive because the benefit is real. I guess you are saying the KW agent doesn't care, because no profit, nothing to share. And I promise you, most brokersâ€™ profit is minimal or non existent in a market like this.
As far as building a team, there is no better place than Exit. What ever split you work out with your team member, you get an extra 10% at Exit, no ifs ands or buts.
Additionally Keller has many more fees than Exit. In addition to desk fees they have copy fees, long distance fees, overnight fees, just to mention a few. Like most keller Williams agents, you need to find an antidote for the Kool-Aid, because numbers don't lie.
I can tell you about Keller Williams because i am KW all the way, No other company out there can match the training by the time you make the year you will be knowledgable and well trained. ask for the KW training calendar and you will see the diffference, another important fact Keller Williams will teach you how to start your business and keep it . you have to check it out, Attend one of the classes. ask the local team leader( yes team leader not manager, because it's a team and you will not feel alone !!!!.
It would be interesting to see which broker you chose and what has been your experience?
Exit is only real company that provides a system for retirement and additional income to help in the slow times. I have a website exitronmccord.com that can show you more.
Good luck to your in your real estate career.
The dialog you have inspired has proven to be very beneficial.
As a newbie, a primary challenge is discerning the smoke from the fabric. Everyone offers shining riches but you intuitively know it can't all be true. As you understand the pathology of a real estate career, you realize your needs five years from now will be dynamically different than what you require today. As you have read many agents change brokerages as their needs have changed and/or growth fields have not materialized. This is said to establish that changing brokerages at a later time is more natural than you currently realize.
Make absolutely certain, whom ever you choose to begin with, that you retain autonomy over your business. Create your brand, your market, your business, your client base and your lead generating machines. In five years, when 40 to 60% of our business will be past client referrals,,,YOU"LL BE GLAD YOU DID!!
Good luck and give those folks at Long and Foster a call.
In an industry which has historically been 'dog eat dog', it is refreshing to be affiliated with a company that has a true foundational culture that is rooted in TEAM: Together Everyone Achieves More.
I suggest you "shop around" and find a broker who you like. Feel free to contact me at email@example.com if you want to meet with us. We are downtown in center city Philadelphia at 6th and Market.
Long and Foster Real Estate Inc.
Develop yourself as an icon .
GOOD luck I love real estate been extremely successful
I would like to tell you, I got my license earlier this year (2008). I interviewed several offices (one being KW but not Exit) until I found the one that would give me the training and the coaching/mentoring I thought would work for me. I joined Prudential CA Realty and would like to say, it is a great company. So, you should check other companies to compare more than just the two.
I persoanlly prefer the samll neighborhood office.
I am 8 months new to the business. I interviewed with 5 companies. My main objective was to get the proper training I would need to become a thriving agent. I chose EXIT and I have not been disappointed. I have had consistant support and training from my office. If you have any other questions please feel free to contact me.