what is the best real estate company to work for a new agent?

Asked by ella, Manhattan Beach, CA Mon Jun 17, 2013

I just got my RE license and started meeting with several brokers.As a new agent,I want to go somewhere they provide me the best training and where I feel comfortable working.I know being a real estate agent,I have to build my own business but I still think it's important to like the vibe of your office and co-workers...Any suggestion?
Thank you!

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Annette Law…, Agent, Palm Harbor, FL
Tue Jun 18, 2013
Ella,
Over the past 80 years 95% newly minted real estate agents have failed to make it to their second year. Year after year after year, these agents receive the same advise by well meaning professionals, "Join the outfit that gives you the most training." And the attriciation rate goes unchanged.
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Ella, your question suggests you have poured yourself a cup of reality coffee. "...I have to build my own business..." It is all up to you. Such reality REQUIRES you to approach this decision with a big does of reality also. Here it is.
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The best real estate company for you is the one that is producing the results you want.
If the brokerage is averaging 8 transactions a year per agent, these agents are practicing ACCIDENTAL real estate. Nothing in the office is working. The national average is 8 transactions per year. And 95% never see their 2nd year.
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The office that is averaging 16, 22, 30 a year has demonstrated something is working. You need to do further analysis and verify the price points yield a sustainable income.
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This measure IS THE VALIDATION of the training, systems, infrastructure and mentoring of the office. When you've identifed the highly productive office, you must convince them you can and will follow instructions. IT's not rocket science. It is about leaving your baggabe behind.
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Look at the RESULTS. They are reflective of your future. But of course, we all know a good 'vibe' goes a long way when making your mortgage payment. Choose wisely.

Best of success
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
1 vote
ella, , Manhattan Beach, CA
Fri Jun 21, 2013
Thank you Susan,LInda,Robert,Cindy,Charles,Annette,Bill,John and Michael!

I read all the comments over and over!!!

I wish I can find a successful mentor,but that is the hard part,,, I can see why/how that would help my career more than anything.I know few people in the RE business but they are not in my area.
I will keep looking even I decide to go with one of the bigger brokerage.

After I read everyone's advice,I'm leaning toward to the office where (I feel like,at least...you would never know,right?) I can get more support.I had connection with some owners/managers of the broker more than others but I guess that is not a decision factor.
All the big brokerages seem like to provide pretty good training.

Thank you so much for all your help!
0 votes
Michael Magaw, Agent, Torrance, CA
Tue Jun 18, 2013
So you have met with several brokers already. It would be nice to hear what they are saying and what they are offering you.
Training and pep rallies may work for some people, but typically there is little gained. I agree with John, find a good mentor and learn how to succeed from someone that is already where you want to be.
Since you are new, some brokers will require you to work under a "team leader" or "mentor" for a set time period or for your first few deals. The broker will take their cut and then your percentage will be shared with your "mentor". Unfortunately this often leads to a 50/50 split and you get little training in return. Don't confuse a real mentor with this person who has little interest in your success.
0 votes
John Souerbry, Agent, Fairfield, CA
Tue Jun 18, 2013
If you need the vibe of an office and to get along with co-workers, you are doomed to failure in real estate. Those "co-workers" are your competition who are working daily to keep business away from you and capture it for themselves.
You are right - you have to build a business "of the ella, by the ella, and for the ella." The only people you can trust along this journey are those who share a financial stake in your success. You will get some good advice and some bad advice from many well-meaning people along the way. The difference between success and failure will be how you determine which advice (and training) will work for you.
Annette makes an excellent point - real estate offices are meat grinders. Most have a reasonable screening process, but they also pack in as many new agents as they can hoping to yield a successful agent once or twice each year. Most big name franchise offices, even with their "proven success formula" have a new agent success batting average that would barely get them into the minor leagues. Ask any broker - how many agents who started in your office within the past 24 months ago are still with you and averaging $10k gross commissions per month? (the minimum revenue needed to build a business, at least in my area)
You don't need "training" - that's for monkeys. Mentoring, the process of learning by doing under the watchful eye of a qualified mentor, will get you where you want to go faster than sitting in a classroom or clicking icons on a computer screen. You don't want to be in the office, you want to be in the field "putting your hands on the product." Most of all, you want to be figuring out for yourself what systems work for you. That will determine your success.
I yield the soap box.
0 votes
Bill Eckler, Agent, Venice, FL
Tue Jun 18, 2013
ella,

Your interests in continued training is important and should be a priority for all new agents entering the world of real estate. With this said, training can take on many faces, from sit down classroom situations to online seminars. You'll likely find that most companies will have some sort of training program. Some very good and others only token.....

Annette presented a pretty astounding statistic about new agent longevity......one would have to question why these numbers are so high. I thing you'll find the answer to be complex. First, too many aspiring agents don't have a true appreciation for what is necessary to be a successful agent...

Also even though most companies offer training programs they still subscribe to the "sink or swim" approach with agents. You find your leads, promote yourself, send out postcards to friends, and if you get stuck, go to your broker/manager.....who is almost never available and may know less at this point than you do as a newbie.

If I were beginning in real estate today, I would seek a mentor that would provide me with "in the trenches" experience and share a small piece of the prize-the commission. There are so many things that you can do to help them be more successful and improve your skills at the same time.

The reason for the high fatality rate in real estate is largely do to abandonment....this trend will likely continue until agencies assume more responsibility and understand that aspiring agents require more than training. They need to participate in the courtship, the chase, and the victory from the very beginning.

Congratulations on your success to this point.....do whatever possible to make sure you are not one of those that don't make it beyond the first couple of years.

Best wishes,

Bill
0 votes
Charles Irv…, Agent, Los Angeles, CA
Mon Jun 17, 2013
Hello Ella,
Thank you for allowing me the opportunity to answer your question. Keller Williams is very popular for the following reasons :

1. Keller Williams is a technology driven company
2. Keller Williams is an education / training company
3. Keller Williams provide mentors for you
And the most important reason is that Keller Williams profit share with YOU!!!!
Keller Williams is number one for a reason .
I would strongly recommend that you , schedule a meeting and find out how you can grow your profit share tree...
0 votes
Where can I read about this?
Flag Thu Mar 30, 2017
KW Profit Share White Paper from Keller Williams Careers
Flag Sat Jul 6, 2013
Cindy Davis, Agent, San Diego, CA
Mon Jun 17, 2013
Of the big companies...Keller Williams seems insanely popular among agents..,Good luck!
0 votes
Robert McGui…, Agent, Denver, CO
Mon Jun 17, 2013
Hi Ella,

I don't know all of the California companies, but I work for 12 years at Keller Williams here in Denver. They have a good training program and a mentor program. Most of the offices have a good culture and environment. Some of the new agents we trained and mentored are now some of the top agents in some of the top brokerages in Denver. Give KW a shot and interview a couple of more companies that offer training and see what feels comfortable.

Robert McGuire
Broker/Consultant
Your Castle Realestate
http://about.me/robertmcguire33
0 votes
Linda Schrod…, Agent, Redondo Beach, CA
Mon Jun 17, 2013
Hi Ella,
It is very important that you go with a Broker that will give you continued training, tools, services and support....and market knowledge. If you are from Manhattan Beach there is only one company I can think of and that's South Bay Brokers. Please email me (Linda): info@southbaybrokers.com
0 votes
Susan Bo'ur, Agent, Manhattan Beach, CA
Mon Jun 17, 2013
Coldwell Banker has an excellent training program.
Send me an email and I'll be happy to get you in touch with a branch manager.
Susan@SusanBour.com
0 votes
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