Great Job on passing the exam!! I bet that is a load off your mind.
I will tell you what I did so you know how I came to Exit Realty. I went out and found 10 brokers in my area that have very good reputations. I interviewed each one to find out a couple things. The first question I ask is, "Why would I want to work with you". The second question I asked is, "What type of training do you offer to help make me achieve my goals". Make sure it is a very good mentoring program and they do not do the old school and say, "Here ya go find deals". The third question I had is, "What are the expectations for me (goals)". Make sure they are believable and achievable for you do not want someone setting you up to fail. The forth question I asked, "Who is in charge or the go to person for the office to make sure things get done". Always make sure you know who will help you and make sure you go. The last question is about how much you will get paid. Every broker/owner or franchise has different splits for commission. Most people got into real estate to make money so you need to know. I took it one step further and asked about retirement. You will find out you are only as good as your last close. Meaning you are done when you are done. I joined Exit because of the 10-7-5 program. http://www.exitrealty.com/
You really need to find a broker you like and trust. They have got to want to train you and you have got to want it.
Also, if you want my 20 questions I asked brokers for my interview email me.
Tony "The Tiger" Cady
Exit Realty Connection
1001 9th AVE SE
Watertown, SD 57201
605 237 1421
Training is constant. Business is good. Broker is available 24/7 and is a techno-geek. Waaay ahead of the technology curve and shares everything
It will not be easy in the beginning, give yourself a year or two to get to get on your feet. Large corporate offices are good because they have pre-designed trainings for new people, they also have a large turnover of new recruits. Smaller offices have more one on one training if you find a good hands on Broker. But above all, you need to feel comfortable and welcomed every time you go in the office. If that is not there, time to move your license to the next shop. Welcome the opportunity to do open houses, specially in foreclosures listed by your office...that is a great way to find clients to work with. Good luck.
Charles Rutenberg Realty
Best of luck to you.
Best of luck to you.
There are many options that are open for you! Visit several offices and make appointments to interview or be interviewed by the manager or broker in charge. Biggest is not always the best. Miami is a VERY large city. Depending on where you plan on doing business- Coral Gables, Key Biscayne, Sunny Isles Beach, South Beach, Bal Harbour, Surfside, Homestead, Golden Beach....
You really need to find the office and broker that is a good match for your personal and business style. Some offices are very regimented while others are not. Commission splits are something else to consider. If you need alot of attention and supervision- then look for the firm or office that can provide it.
THE BEST REAL ESTATE BROKER IN MIAMI IS THE ONE THAT YOU LIKE THE BEST.
Option A is find a broker with full support, marketing and training. This will probably get you a 60/40 split at best since your new.
Option B are those 100% commission brokers where they take a flat fee on each deal like $495. Those are good if you know what you are doing and will have your own deals. You will make more money, but probably wont get the support and training you need.
Option C is find the most popular broker in your area that does tons of deals. You will probably end up doing a lot of volume, but your cut will be 50/50 since you will get leads.
You will probably end up doing a lot of short sale listings, so be prepared to wait for your commissions. But congrats on getting your license. Not sure what you were doing before for work, a word of advice, put some money away for a rainy day once you close your 1st deal.
It depends on your aptitude and your background. I've met many good agents who come from all walks of life. Some of the more 'corporate' agencies invest in training like the 'blue signs' of CB and the Prude. If you are a GD independent & already have discipline and structure in your schedule you may prefer a 'red sign' KW or one of the smaller local boutique agencies - (If they will take you.)
In short, you will be working for yourself *under the banner of an agency.* Choose wisely and remember - Bette Davis... - Why, what or who??? She showed Warner Brothers she was not a 'corportate slave'. At any time YOU CAN take your licence and go to ANY OTHER agency that will take you. Just don't burn any bridges!
You may be too young to know who Bette was - a little bio. If we forget history, we re-invent the wheel.
Read the suggestions below. Interview several agencies for yourself. Remember; self-discipline, hard work, positive attitude and always saying thank you will get you furher ahead when you leave your own ego at the door.. Oh and BTW you will be solicited by every coach, seminar presenter and what not - they have their own agenda. Just remember success comes from within.
All my best and in a year or so, I'd love to hear what happens!
Mike Ackerman, CRS, e-Pro, SFR (Short Sale and Foreclosure Resource)
Zephyr Real Estate
As you interview brokers, be sure to include your local Coldwell Banker Residential office. I have been with Coldwell Banker since getting my license and I can tell you a couple of valuable reasons.
1. The training for new agents is the best in the industry.
2. The worldwide nature of the company gives you an advangate in the marketplace and for referrals
3. The internet exposure for your listings is the best available.
Check it out and good luck!
Debbie Albert, PA
Coldwell Banker Residential
I think, from personal experience, you should sign with a broker that you feel very comfortable with and that is located within the area that you wish to specialize in. Another piece of advice that I can give you is to go into the office every day. Get to know your colleagues they are all fountains of information.
Maybe we will do a deal together some day. Good luck.
Congratulations on passing your state test....but the journey ahead is still a long one because there is yet so much to learn. This is why it's so important to select a brokerage that is commited to training and with an approach that concentrates on making all agents better.
If your search focuses on the best agency, you may not fing the perfect marriage...the agency that has your interests in ming. We value a mentor approach because it provides you with first hand experience while being guided by a seasoned Pro and will hopefully bring you in a small commission. See if you can identify an company that will match you up with an established agent. It will involve grunt work, knocking on doors, doing open houses, doing cold calls etc. but in the end, it will be worth it.
Henry, best of luck!