how do you find a broker as a new sales licensee? so very confusing. What questions should i be asking ?

Asked by pprimicerio51, Sun City, CA Thu Mar 27, 2014

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Jennifer Fivelsdal’s answer
Jennifer Fiv…, Agent, Red Hook, NY
Thu Mar 27, 2014
I am going to assume you will be looking for a Brokerage in your town or city. Who are the players in the area? You will need to do some research. Speak with agents from different firms. Ask yourself what is it that you need from a Brokerage?
1 vote
Dorene Slavi…, Agent, Torrance, CA
Tue Jun 10, 2014
1. Do you provide training to new agents? What does it consist of?
2. Do you provide mentors to new agents? who?
3. Do you provide leads? How?
4. What are the costs (desk fee, office fee, insurance, etc.?)
5. commission breakdown?
6. how many of your agents remain in the business, after the first two years? (percent)
7 Do you have a quota? ( sometimes these are not apparent, number of sales you must meet)
3 votes
Randy and Vi…, Agent, Punta Gorda, FL
Fri Mar 28, 2014
You need to know what percent of your commission the broker will take off the top.
Also, what will the broker do for you, what part do they pay for signs, advertising, business cards, and web-site?
Are there be office or desk fees, are there be an office manager and what are her duties?
How much is the E and O insurance fees?
How much auto insurance do they require you to have?
Is there required floor time will you have (time on duty, where you get all the clients and phone calls that day)?
Do they have a mentoring and training programs?
Are you allowed to take your listings with you when and if you leave?
Ask around in your area for recommendations for a broker that is trustworthy and well respected. Find a broker that you feel comfortable with and that you feel will help you learn.
3 votes
Sam Shueh, , San Jose, CA
Sat Jun 14, 2014
1. desk fees, insurance cost
2. commission split
3. try to find an office where some agents names are well known. They may be able to launch your career. Most of the time they got their own team already.
4. expectation, some dismiss agents due to non-production

You want to minimize your cost getting most bang for the buck so to speak

Sam Shueh
Keller Wms Cupertino Realty
2 votes
Bill Eckler, Agent, Venice, FL
Sat Jun 14, 2014
Agents new to the business should be focusing on agency training and how the company provides real support that helps their agents become successful. The reality of being a realtor is that 75% of today's new agents will throw in the towel within the first 5 years. When asked, what the biggest issue between them and being successful, the vast majority of agents indicated that the lack of training, leadership, and real guidance was the cause.

With this said, most of your questions should focus upon how they support and nurture their new agents. As a "newbie" I would seek a genuine "mentor" relationship that puts you in the trenches with experienced agents, allowing you exposure to every aspect of the business, and places you in a position of sharing its wealth.

Good luck,

Bill
1 vote
Sam Shueh, , San Jose, CA
Sat Jun 14, 2014
A second thought, most of the offices do not really provide leads. These days majority of buyers look on line and go to listing agent directly. Do not get lead to believe you can sit in the office expect people knock on your door. Busy agents do not have time to mentor. Most mentors take a cut from your commission doing minimum coaching for first few transactions.
1 vote
Lucy Pinon, Agent, 89169, NV
Mon Mar 31, 2014
If you are new, it is important to ask about structured training. And, how successful have their new agents been after going through the training? Do they have dedicated trainers?
1 vote
Alistair Bar…, Agent, Fruitland Park, FL
Sat Mar 29, 2014
Personally as a broker I want people who ask me any question they feel comfortable asking. But I cannot stress this highly enough.

WORK FOR SOMEONE YOU LIKE

Don't just go to them because they tell you they are the best.

WORK FOR SOMEONE YOU LIKE

:))
1 vote
Ricki Lynn M…, Agent, San Diego, CA
Fri Mar 28, 2014
Hi There, you have been given some great advice...my 2 cents, make sure you get into a Mentoring Program.
Ask agents of any company your considering if the company has a Mentee program. It will help you immeasurably! There are some great companies out there and you may have to move your license after you've gotten your feet wet, but the best thing for you right now is to get some real training and experience under your belt and a good mentor/mentee relationship will do just that.

Best of Luck, and Welcome to the Family!
Realtor Ricki
1 vote
Scott and Sh…, Agent, San Diego, CA
Fri Mar 28, 2014
Hello,

You can look up an agent by their name or license number on this website. This is the Department of Real Estate DRE now called Bureau of Real Estate - BRE - they issue the licenses to all agents.
http://www2.dre.ca.gov/publicasp/iphone.asp#_home

Another very helpful tool -use this website to find out if the agent has sold anything in your area or if they've ever sold a property (doesn't cover land sales). Make sure you use the tool bar at the top of the website to chose " Agent Search ".
http://www.Movoto.com

Why are you looking for an agent with zero experience??

Sent from my iPhone
1 vote
Ray Wright, Agent, Riverside, CA
Fri Mar 28, 2014
You'll most likely want an office near your home. I suggest you discuss it with the agents first before meeting with the broker. They can give you some insight as to why they joined a particular brokerage. I'd me more than happy to discuss this with you over coffee. I've worked for 2 local mom & pop brokerages and two different nationwide brokerages. I've now been with my current brokerage since 2006. I can give you an idea of what the brokerage can offer you as well as introduce you to some heavy hitters who have all worked for different brokerages in the past. Let me know if you're interested!

Also - My company is giving away $50,000, Just download my FREE Real Estate Search app to your smartrphone and enter to win. Hurry, the deadline is March 31st. Simply text the letters: KW2KTBUIZ to the number: 87778 to get the download URL. For more details, visit: http://bit.ly/P92EC3 Good Luck!

Ray Wright
Keller Williams Realty
Cell: 951-312-3133
Email: RayWright@kw.com
1 vote
Deborah Scia…, Agent, ofallon, MO
Thu Mar 27, 2014
I'm a newer agent, and I did a ton of research online. Then I made of list of what I wanted:

-Location- office had to be in an area near the kids schools, and the interstate (didn't want of lot of wasted drive time.

-Private or Franchise- private have fewer fees (awesome when you are starting out) franchise have lots of training (great for building confidence).

-Rental or Traditional - lots of agents are doing property management, that wasn't for me, but to hear them talk, there is quick, steady, income.

I then called the offices (three of each type) and talked to the broker. They were all very happy to speak with me and "sell" their office... everyone wanted to set up a meeting to show the office explain fees, answer questions and visit with me.

The location step cut out a TON of local offices which helped my decision making tremendously. Several phone calls later weeded out two more (bad vibes). Then I went and met with the final four, after that it was between two. I decided on a Franchise, the private didn't get many cold calls, and I didn't really want to beat the streets for work. I wanted Traditional Buy and Sell, not prop management. Prop. management seemed like too many balls in the air for me to handle. So the final decision came down to which broker I liked best and thought would adjust to my schedule (I have four kids and they come first).

As for questions: you probably want to know fee structure... Errors and Omissions insurance... Mandatory meetings?... any yearly office fees you will be expected to pay...

That's what worked for me!
1 vote
Cindy Davis, Agent, San Diego, CA
Thu Mar 27, 2014
You want good training first and foremost and a mentor out in the field. That is where the real learning takes place. You want a company that is responsive to your needs in the first year - there's a steep learning curve. I also recommend calling local agents in your neighborhood and finding out what they like/don't like about their companies.

Splits and costs are important. It/s expensive to start up - signs, lockboxes, cards, mls access, association fees - the list goes on. But don't focus entirely on splits until you've had some solid training and are up and running.

Best of luck to you.
1 vote
Annette Law…, Agent, Palm Harbor, FL
Thu Mar 27, 2014
You need to do a little more homework,
Read the seven blogs I wrote titled "7 Things I Wish I Knew Before Getting Into Real Estate."

This starts with your question..."What question should I be asking?" that nearly every newbie is advised incorrectly. But it is up to you. Invest the time now or invest your money later.

http://www.Trulia.com/blogs/annettelawrence

By the way, there is only ONE question you should be asking. That should not be very confusing.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, Fl
727.420. 4041
1 vote
Stephanie Le…, Agent, Miami Lakes, FL
Thu Jun 19, 2014
As a Broker the most important thing you should ask is What is in it for you... The real truth of the matter is as a Realtor you are your own boss and in control of your own business.

With that said you should be looking for a broker that will help guide, train, mentor and show you the ropes. Like Bill said many agents give up within the first 5 years because of lack of training.

When I was a "Newbie" man I thought I was thrown to the wolves.. I didn't have much support even though I was told I would.. But I was determined to succeed I looked towards my local board for classes and I took it upon myself to learn and grow.. Today I am a Broker and owner of my own firm.

You are in control of your own success and knowing what is in it for you is a key element. Make sure when you interview you leave knowing what plan the broker has for "newbie agents" to help get them on their feet and on the path to success.

As a new agent you will have tons of questions make sure you will have the support from you broker of choice to give you the answers.

Good luck.
0 votes
Art & Liv Ke…, Agent, Temecula, CA
Thu Jun 19, 2014
It depends on what you need. Initially good support and availability of a broker is usually very important. Industry resources and coaching are what matter to most new licensees. Then later it's about other things like branding and better splits to many agents. Good Luck!!!
0 votes
Yanoska Diaz, Agent, Miami, FL
Tue Jun 10, 2014
You should only be asking the question that you are concerned about. While many have provided great advice, I personally don't care about many of the questions they have recommended you ask. What is important to you??
0 votes
Lisa Wetzel…, Agent, Gardnerville, NV
Tue Jun 10, 2014
Finding a good broker to work with is very important. Ask around and don't forget that their reputation will reflect on you so choose wisely!!!
0 votes
Scott and Sh…, Agent, San Diego, CA
Fri Mar 28, 2014
I see...you are looking for a place to hang your own license as an agent. I get it! First you would need to choose the type of agent you want to be .... Sales or Leasing Rentals? I would narrow down your search to the top three companies you are interested in.
Then call a few agents in their office.
Make sure their testimony is not bias by a bonus. Many companies will pay their agents to refer newbies. They will get paid when you join the company. You might not get true feedback from this type of motivational reward system for new hires.
Good Luck to you!!
0 votes
Caroline Col…, Agent, Temecula, CA
Thu Mar 27, 2014
When you first get your real estate license you really know nothing, so you need to place your license with a local broker in the community where you want to work, with a broker who is willing to give you the time to teach you the business with the right values of ethics and honesty. You need to learn as much as possible about the home mortgage business, where the rules constantly change, and you need to learn the area where you want to work as much as possible. You need to learn the contracts and disclosure paperwork. Go with an experience Realtor/Broker on client meetings as often as possible and listen and learn the business. You'll need hands on experience with a broker who understands, and is willing to teach you, that real estate is a service business for clients - for their best interests only at all times.
0 votes
Lance King, Agent, San Francisco, CA
Thu Mar 27, 2014
Your major priorities should be finding a company with a great reputation where there is someone with juice willing to mentor you.
0 votes
Darlene Crys…, , Downey, CA
Thu Mar 27, 2014
Where are you looking to place your License. Depending on the City and State there are pertinent questions you should ask before you sign.
0 votes
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