Each office is obviously run differently, regardless of whether it is a franchise like RE/MAX or a company like Weichert.
It makes no sense to me to recommend a particular company, especially those of us outside of Dallas, because we have no idea how the local offices are run.
Ultimately, it is a personal choice because a great fit for one agent may not be for you.
- large splits
-no one trying to manage your business!
Can't go wrong with RE/MAX
If working as a buyerâ€™s agent interests you I would consider calling some of the larger (more recognizable RE/MAX agents in your area). Check with these RE/MAX agents in your area to see if anyone is looking for a buyerâ€™s agent. That is a great way to get leads, support, and a chance to learn from someone succeeding in th business!
-Sal Salafia/ The Salafia SOLD Team at RE/MAX Plus
Select a company with a good reputation....that has a strong area presence and market share...........that offers backup support and current , up to the minute technology and marketing options.............ongoing training for experienced agents, as well as training for newbies
Walk around the office and see if you feel comfortable.....maybe I am old fashioned, but Ilike to work around people I respect and like!..........
If you are searching for broker who assigns leads GOOD LUCK that mostly likely won't happen. Realtor are self employeed business professionals who need understand how to generate their own leads of method that works best for their business plan.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
I believe that there are many factors that you should consider when choosing the best real estate company for you to work for. These are the things that I considered when deciding to affiliate with my current broker and I couldn't be happier. You may have other things that are more important to you. Every person is different and will discover that one broker or another is a better fit for their needs.
My short bullet list:
- Agent training, coaching, and support provided by the broker. Learn how to generate and cultivate your own leads from multiple sources while spending the least amount of money possible on advertising your services. Consider the frequency of training and the cost (if any).
- Technology and support in place for agents. What is important to survive and thrive today was not as important 20 years ago. CRM solutions, administrative support for agents to work efficiently and remain compliant with the licensing laws, current technology, time management tools, blogging, search engine optimization, social media training, etc.
- How much do you have to pay out of pocket each month/year. This can be called different things by different brokers, franchise fees, technology fees, desk fees, etc. It doesn't matter to me what it is called, all that matters to me is to know how much I will pay out of pocket even if I have no sales.
-What will you receive as a commission split on your sales? The higher the percentage the better. Also, is there a company cap to earn 100% commission?
This is what was important to me. I suggest that you make a list of what is important for you and then start comparing brokers to work for and find out what is the best fit for you.
Good luck Joejoe!
Most people, when they get into real estate do not understand that this industry is a sales business. In other words you must learn how to be a professional sales person first to be a successful real estate professional. You can be a top producer in this business or you can work at whatever pace that you feel meets your needs, but to offer great service you still need to have sales skills.
There are many great companies to choose from but I would suggest looking at what type of support is there to aid you in building your real estate career. Some people are going to say check out the splits and and how they handle leads and those may be important to you as well. However, without education and support, how will you be able to build a strong business model? The best thing for you to do is to speak to several companies and then make an informed decision. If you would like to speak to me personally about your question, please call me at 214-676-8040 and I will be happy to discuss it with you.
Realty Executives - Scottsdale AZ
I will however give you my experience with the two big name companies that I have worked for. I started off with KW as a recommendation from one of my friends. The company does have really good training and resources for new agents. However the one thing that bothered me was their "profit sharing" program. Although it at first sounds like a great way to earn residual income and a great plan, I found it to be the opposite. I found out that, that particular KW office had over 60% of the agents part-time and they were very hungry for deals and leads. Most of those 60% of agents were only agents for a maximum of 6 months before they got out of the real estate business altogether. Now im not stating that each KW office is like this, but I just did not want to be affiliated with a company that had such a high turnover rate of agents leaving the business and part-time agents.
I then decided to join the local RE/MAX brokerage. Not only did my business nearly double the first year I switched from KW to RE/MAX, but my gross commissions were consderably more than they would have been witht the same level of production had I stayed at KW. Just as Sal stated below, RE/MAX has some of the largest broker/agent splits in the business as well as spending more money on advertising than any other brokerage in the country. This means they take less of your hard earned commissions and then of the commission they do take, they re-invest it back into the RE/MAX name and advertising. I would look into the local RE/MAX offices and brokerages and also look into becoming a buyers agent for a local team. This will give you the structure, accountabliity and discipline to understand what it takes to be successful in the business from a local experienced agent. Feel free to reach out to me if you have any additional questions.
Have a Great Day!
Of course, I say Prudential. And that's not just because I am with a Prudential affiliate. The brand is well known. If somebody hasn't heard of Prudential, they have probably been under a rock. It's more than a national brand, it's international. The people I've encountered in the Prudential network have been off the charts terrific. And if that's not enough, customers like Prudential. Two of the past three years, Prudential Real Estate has been highest among sellers. But don't take my word for it, take a look at the JD Powers web site I've linked below.
Regarding leads, here's the problem. There are different levels. Cold leads could include things like a list of names and numbers for people who have been in their residence for quite a long time and may be prime for moving someday soon. They could be people in pre-foreclosure who have recently been served. Then there are warm ones, and they come in all flavors. But at the least, they've expressed some interest. Maybe they asked a question here on Trulia, or another site like it. Then there are hot leads. They're the ones we really want. They've said, I want to sell my home, or I want to buy a home, and they've set up a time to meet. Woohoo! But then, as you well know, there are a thousand things that could go wrong and prevent you getting to the closing table.
I'm not sure any company can guarantee you good leads. If they do, I'd be very suspicious. I could guarantee you lots of leads if you came to my office and worked with me. But leads need to be converted to sales. And that's up to you. So be wary of anyone who seemingly promises you success.
If you should decide to come to Chicago, look me up. But from what I've heard about Dallas, things aren't so bad down there. Your market wasn't hit nearly so badly as other areas around the country.
Prudential Starck Realtors
It sounds to me like what you really need is quality training! Oh, sure you can find a company that will feed you 'leads' but will they be 'quality'? Just a piece of advice, concentrate on generating your own leads! That way you'll never have to pay a referral fee to your company or broker. And you will be completely independent, which is a large reason we get into real estate right? So, how do you generate your own leads? Quality training will show you how it's done. Find a company with excellent training and support and you will never lack for leads. In my opinion, you could not do better than EXIT. I was in a position a few years ago to change companies and I checked out all the big names. None of them could hold a candle, in my opinion, to the opportunities, training and support I found at my EXIT office. And I have not been disappointed. Do yourself a favor, find a local EXIT office and at the very least listen to what they have to say. If you need help, just let me know, I would be happy to make the introduction!
Best of luck to you.
As a newbie, you know squat about anything. You need someone to lead you by the hand through a couple of deals before just the process makes sense. And of course you'll pay for that training. Many Realtors tout their companies as the best "trained" agents, but seriously, a lot of that is just propaganda. After a few years you'll be able to do a deal from start to finish without any hand-holding, so what good is that training? It's a pair of golden handcuffs, chaining you to that business model, because their office fees are not zero, and their commission split isn't 100% for you, and so on. You pay for believing the propaganda about training.
As you progress and learn about the traps, pitfalls in contracts and negotiating them, and about people (yes, buyers are liars and sellers, too, but so are agents). Of course these exaggerations may not sit well with you, but you'll find sterling examples of buyers that waste your time, sellers who deceive even themselves and licensees who shouldn't be. That doesn't mean everybody is bad, but you will have to learn how to spot the fibbers, users and hagglers. And then smile when you're used or lied to or bargained with, and keep a straight face when you missed one.
The point of this progress is to build your experience. Imagine your first deal having a hidden defect known to the seller that the buyer sues not only him but you, too. The experience points gained may be enormous, but it will scar you. Having a mentor helps minimize that possibility. During this growth phase figure out your marketing strategy and begin it. If you want to rely on the leads handed you by the broker, that's an okay approach - if he supplies any. Some offices do, but the white-haired "in" crowd may have picked over the incoming leads first, leaving you with the scraps. Office politics will turn your hair white, too.
Several years out you will have developed methods that work to find prospects, and your existing base of referring past clients will be robust enough for you to leave the 70% split behind, minus the office fee, minus the training fee, minus the data fee, minus the nuisance and move either to a shingle shop or out on your own. Hanging your shingle at a broker who charges you $50 a month may seem stupid, since they don't DO anything for you except sponsor you. But the reality is by the time you decide to do that you should already know what you're doing and be able to do it on your own.
As you can see, "BEST" depends on where in your career you are.
I would have to say that I am partial to Keller Williams, but then again I work for them so I am biased.
If you are looking for a company that will give you leads, then KW is not for you. KW has an amazing educational phase that was invaluable for me as a new agent, and I and experienced agents revisit the classes often as there is always something new that we can learn or refresh in our mind. Education is key.
Part of that education is how to generate your OWN leads. I have personally never worked for any company that has provided leads to me, and don't know very many agents at all (who are still in the business) who have worked for these kinds of companies very long either. If you depend on someone else to provide leads to make you money, you may not be making much money. Quality leads generate quality cash, and only YOU can generate quality leads efficiently.
If you would like to speak with me about Keller Williams, I would love to talk to you about it, but you have to be ready to work hard in order to succeed in this business regardless of what company you go to work for. As Scott said below, you are your own boss, and you have to be the TOUGHEST boss you have ever worked for.
Feel free to give me a call or email me. I also have some information about Keller Williams on my website at http://www.BrianRayl.com.
Brian Rayl, REALTORÂ®, e-PRO
Keller Williams Elite Dallas Park Cities
I agree with Scotts assessment, this is not an easy job, get your license and someone else will get you the quality leads.... And furthermore, each real estate company works differently, they provide various different services to their agents as well as to the buying and selling public their clients... So you really need to meet
with them, get ALL THE DETAILS and then decide which one would be the right match for YOU....
When starting out, it is often recommendable to work with an established, experienced Realtor in that office as a mentor..... to learn and to learn some more!
We all want to make money, have clients buyers and sellers, as many as we can handle and some..... but
in order to do well in this business, one needs to work hard, many hours, get well organized, well informed about the local market one works in and have a very supportive brokerage company to work with.
Good Luck to you!
Edith YourRealtor4Life and Chicago and Northern Illinois Connection
working always in the very BEST interest of her clients
It is a lot to do and do well, I promise!
If you are not a very self motivated person, this industry may not be for you.
You have to be the toughest boss you have ever worked for!
....and companies need quality Realtors.
As you can see from the comments below there are no guarantees on either side.
It's the nature of the Real Estate Beast.
Here are some facts that all Realtors should know and that most donâ€™t.
80% of all Realtors never last two years and that this has been a consistent statistic for decades. From the perspective of the vast majority of major real estate companies this is considered desireable as they earn more money on agents who are not top producers. Before entering real estate did you research how much the average agnet earns nationally? In Texas? In Dallas? Iâ€™ll give you one answer: nationally the average is about $30,000 before taxes. You need to answer the rest for yourself. If you are counting on anyone other than yourself to build your business there's an excellent chance you'll be among that 80% who don't make it.
There is no â€œsilver bulletâ€ for becoming a successful agent and thereâ€™s certainly no company that can promise you a steady stream of quality leads. If any company promises you this, quite simply they are lying. You need to assume complete and total responsibility for your success and or failure and embrace ebeing self employeed. Sit down and write out your business plan for the coming year, list the actions youâ€™re going to take, the money youâ€™re willing to commit monthly to advertisiting and promotion and your goals. This will give you a reasonable chance of becoming a successful high producing agent. If when youâ€™re finished creating a business plan youâ€™re having second thoughts about being a Realtor, or the work thatâ€™s required then perhaps you really should start looking for another proffesion.
I wish you the best of luck.
Best of luck to you!
We would of course like to speak with you about what we have to offer great agents.
Do you have time this week to spend about 1hour with us?
Keller Williams Realty
The best company is the one that's best to you. I know a lot of my colleagues that believe their company is the best as I believe the same about mine. This can be true because we all look for different things when seeing the right real estate company to hang our license. I'd find one that will teach the basics. If the brokerage teaches the basics about real estate, you'll do fine finding your own leads. Best of luck in your search Joejoe.