HELP! Looking for the best broker for ME!

Asked by Anonymous, Humble, TX Thu Apr 24, 2014

I'm nearly done with my real estate classes and will be sitting for the exam some time next month. I live in the Humble, TX (Houston Area) and so far, I've met with Keller Williams and I have an appointment next week to meet someone at RE/MAX. I have several questions I'd like to pose to agents being that I'm new to this business.

1. Which broker firm is the best to start under that offers great training (preferably online) but will not charge too much for desk fees? (I would rather not go into the business spending hundreds a month until I actually start making money)
2. Which broker firms provide their agents with good leads?
3. Which broker firms has the most reasonable commissions split? (I'm willing to pay more in commission if I don't have monthly fees)
4. Which broker firm will provide you with a mentor or someone that will be available to answer your questions if you need help?
5. Which broker does not require mandatory floor time? (I prefer optional)

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5
Annette Law…, Agent, Palm Harbor, FL
Thu Apr 24, 2014
"7 Things I Wish I Knew Before Getting Into Real Estate" is the title of my blogs you should read.
The first one is dated Feb 14.
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You are volunteering to be a small business owner. As such, you MUST do your due diligence.
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Now, let me be frank with you.
You are getting into this business TO MAKE MONEY.
LOTS OF MONEY.
However, you have a poverty mentality.
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Those with a poverty mentality, are focused on costs and expenses.
They remain forever poor.
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Those who do not have a poverty mentality look for and seek the PROFIT.
You must spend money to make money.
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You should go where you can SEE people making money.
Then simply follow their instructions.
That is always harder to do, than for me to write.

Read my blogs for the details.

This link will prove important in the context of those blogs
http://www.trulia.com/blog/AnnetteLawrence/2014/04/which_rea…
1 vote
Stacy Burgin, Agent, Fulshear, TX
Wed Sep 3, 2014
did you find a broker for you if not I can chat with you on what we have to offer.
Stacy Burgin
713.409.7698
stacy@terrapointrealty.com
0 votes
Brian Kurtz, Agent, Dearborn, MI
Sun May 11, 2014
1) Most likely Keller Williams or Exit Realty but most office now seem to have a "Home Office Plan" where you don't have any office at all. This is usually the most inexpensive route to go - especially if you're going to have a mentor and will mot likely inhabit a corner of their office informally for a while as you are learning the ropes.

2) No Firm Offers Good Leads - leads are hard to come by and are considered a source of revenue. You'll most likely have to commit to giving 33% off the top to the broker for generating the lead and only after that big slice is taken out do you start working through your split. You'll be left with 20% of the commission once that's done. Not enough to BOTH pay your bills AND start marketing yourself so you don't need leads. Thus none of the leads are "good" as far as I'm concerned.

Your ability to succeed as a real estate agent starts and ends with your ability to get into conversations with people who are going to make a move in the next 6 to 12 months. Period.

I suggest getting involved with the Mike Ferry Organization or, if you are suspicious of that group or don't want to spring for the coin, get the Expired Plus course by Borino - and use it.

3) Again, most places now have a home office plan. I've seen plans where the agent splits 50/50 until the broker is paid just $5,000 and then they're on 100% after that.

4) Most larger brokers with the exception of Re/Max have some type of mentor program. Re/Max is focused on only hiring established agents who don't need hand-holding - so they very often are not training focused.

5) Mandatory floor time is not suppose to exist for independent contractors. Some brokers will want to move an agent out of their office if they are just not performing but are nice people and don't want to have a formal sit-down where they fire the agent. So they tell them, "Look, you've only closed 2 deals in the last 18 months. What are you doing to get business? Open houses? How many have you done? Just four? Why've you not done more? You don't know? Look, here's what's going to happen - you need to close 12 deals in the next 12 months or else you're going to have to move on. Our "company policy" says we should be giving you the boot right now, but if you agree to go on the floor time rotation like everyone else, I'll give you another 12 months to get things moving in the right direction. Sound fair?"

Also, if you join a team you have essentially become an employee of the team. The "independent contractor" schtick doesn't work for them. They'll want you doing what you said you'd do when you signed up as part of the team and if that means keeping regular hours like a traditional job then you'd better be there on time for the morning meeting or else you won't be part of the team for long.
0 votes
Judi Monday,…, Agent, Green Valley, AZ
Sun May 11, 2014
When evaluating agencies be sure to consider the bottom line. Sometimes the ones with the reasonable split have no cap on that split whereas the ones with the fees may provide a low cap and the end of the day you may wind up paying less overall.
0 votes
Tim Gross, Agent, Houston, TX
Fri May 9, 2014
I previously worked for Keller Williams a few years back and they do a great deal of selling the training they provide. One downfall I would say is that many agents do not realize what all their fees are and they only focus n the % split. It is important to take a look at everything. A couple of years ago we opened our own boutique brokerage and are looking to franchise one of the bigger names here in the next couple of months. I would say whoever you go with make sure you understand what all the costs up at front and make sure you ask the important questions above. I would suggest Remax for the fact that they have a good lead generation program and you keep a much higher percentage, but the fees might be a little more.

Best of luck!
0 votes
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