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I agree. I spoke with Coldwell Banker Gundaker--she did mention the Lead Router, but I thought she said that there weren't any fees associated with it. The way I understood it, the structure was a 50/50 split, and that was that--no other fees, etc. Maybe I should inquire further about that, though, just to clarify.
Coldwell Banker Gundaker is an owned and operated shop, so you and I would work for the same company. There are other fees, you pay a franchise fee (somebody has to pay for those Tom Sellick TV spots) on each transaction and you'll have to ask about Lead Router, as each office might have discretion. What she might have said is that you don't pay a fee on your own listings, but you probably will when buyers call/e mail on listings from your competitors. That's business that I wouldn't have without the company, so I don't have a problem paying a referral fee.
With any company you interview, I would call up an agent and tell them you are newly licensed and interviewing the company and ask if you can meet with them for coffee or lunch and really get the skinny from somebody not in management. I did this with two agents and would gladly pay it forward when it's my turn.
Gundaker is the brand name in St. Louis. Here we are Coldwell Banker Residential Brokerage, it's the only firm I've worked for and I'm very happy here. I also have great management that cares about me (our managers don't list/sell properties) and 2012 has been an excellent year as the market stabilizes and moves towards recovery. When I got into the business in 2005 little did I know the market was about to take the turn that it did. If you work hard, do the right things and treat your clients like gold (and remind them that you are and you will for their friends/relatives/co-workers), you will succeed, no matter where you end up. It might take longer than you like and it helps to have a spouse/partner with health insurance and a steady pay check, but the job satisfaction in helping real people buy/sell homes is like no other I've experienced.
WhoFanMe! Thank you for an excellent discussion. You were very fair, very honest, and brilliantly transparent. I wish everyone was of your integrity and what we in Kentucky call, "caliber."
Hey Illini84, I was just on another thread when the following was posted because I had recommended that a FiSBO (For Sale By Owner) seek out a RE/MAX agent to get their property world wide attention. Yes, it was a bit longer than I am posting here, but one guy's reply reminded me of something very important to you. Here is a copy of the post:
Lemmie guess... you work for RE/MAX?
This was my reply: It really does make all the difference in the world:
No, I do not work for RE/MAX.
I am a RE/MAX Broker-Owner and I pay RE/MAX for the priviledge of serving my clients in Kentucky and Indiana using the tools, support, and branding of RE/MAX.
The information I shared gains me absolutely no financial benefit. I am simply aware of all the marketing tools this seller needs to sell their property for the highest price. I cannot, and will not endorse any particular agent or brokerage simply because they fly the RE/MAX balloon. I can however, endorse the brand without one ounce of hesitation.
If you choose a brand other than RE/MAX, you will be effectively working for the brand as they will be sharing their (the broker earns the commission, not the agent) commission with you for performing a service. If, however, you choose RE/MAX, you will be paying your broker for the opportunity to use his tools, support, and branding to help you successfully serve your clients better. Doesn't seem like much of a difference, but you obviously know that the attitude with which a job is approached more often than not determines the satisfaction of a job's outcome.
WhoFanMe! Thank you for an excellent discussion. You were very fair, very honest, and brilliantly transparent. I wish everyone was of your integrity and what we in Kentucky call, "caliber."
Tom, the largest RE/MAX franchise in my city does extremely well and is loaded with agents with years of experience and client bases and for those agents the 95/5 with a desk fee serves them very well. It is a pleasure to work deals with their agents because they know what they are doing and it makes a huge difference. Several of my former colleagues are there, I did a closing yesterday with one of them. For me who still is learning every day and has only worked in a declining market, that model doesn't work yet, I need the support that I get from NRT. What's fascinating about this business is that I can compete with you for a listing this week and be the cooperating agent with you on another deal next week. I would say that 95% of us are hard working, dedicated and client focused whether we wear Blue, Red or Red White and Blue.
Tom, the largest RE/MAX franchise in my city does extremely well and is loaded with agents with years of experience and client bases and for those agents the 95/5 with a desk fee serves them very well. It is a pleasure to work deals with their agents because they know what they are doing and it makes a huge difference. Several of my former colleagues are there, I did a closing yesterday with one of them. For me who still is learning every day and has only worked in a declining market, that model doesn't work yet, I need the support that I get from NRT. What's fascinating about this business is that I can compete with you for a listing this week and be the cooperating agent with you on another deal next week. I would say that 95% of us are hard working, dedicated and client focused whether we wear Blue, Red or Red White and Blue.
Oh, Who, I certainly didn't mean to insult anyone, especially you for I meant every word of my previous praise for you. I do understand your predictament; however, look at the facts. I can't speak for St. Louis, but here in Louisville, RE/MAX agents have sold an average of almost 9 transactions this year (our office is over 9) and the CB agents have sold only 3.
If you are a commission only agent, I would certainly be talking to that office. I am not recommending that you move, but I certainly am suggesting that you start talking and learning what they can do to help you transist. When driving I always look for a way out, not planning on taking that route, but just knowing I can.
I wish you were in Louisville. I'd make it happen for you. Your integrity makes it a "for sho!"
Oh, Who, I certainly didn't mean to insult anyone, especially you for I meant every word of my previous praise for you. I do understand your predictament; however, look at the facts. I can't speak for St. Louis, but here in Louisville, RE/MAX agents have sold an average of almost 9 transactions this year (our office is over 9) and the CB agents have sold only 3.
If you are a commission only agent, I would certainly be talking to that office. I am not recommending that you move, but I certainly am suggesting that you start talking and learning what they can do to help you transist. When driving I always look for a way out, not planning on taking that route, but just knowing I can.
I wish you were in Louisville. I'd make it happen for you. Your integrity makes it a "for sho!"
PS: Ask them about their RAPP plan.
No offense taken Tom. I love where I am, but I respect that there are other models that work too.
No offense taken Tom. I love where I am, but I respect that there are other models that work too.
I appreciate your situation. It's a happy camper that I like best.
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