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Anyone with Keller Williams Danville or Coldwell Banker Castro Valley/ Danville? Currently debating which brokerage I should go in as a new agents, below are some information I found. Any insights for me, especially in terms of training would be great. Currently not into exp or ReMax.
KW offering 55/45 in the first three deals, then 80/20, until cap 16k. Monthly fees about the same as CB. Seems like trainings are more synchronized in all market centers, lots of in-person classes weekly to go. However my hesitation is, they assign you a mentor and coach but both seems repetitive to me. And since mentor is still an active agent, I’m worry she will be busy and I will not good mentorship.
CB offering 80/20 throughout until reached cap 36k. Lots of online class/materials. But I’m not sure how does in person trainings work with the broker. Good thing is broker is not an active agent, so she not your competition and takes all her effort to help you. However, will her knowledge be outdated, since she’s not active anymore?
So you are more then welcome to leave anything comments about KW and CB. Especially in the Bay Area/tri-valley. Thanks!
KW will normally have fewer fees that any Realogy company like CB. However, you've got to get off the ground and close some deals to start getting paid. My advice is to go to the company with the best training and support. Then after you've had some success and taken your lumps, if you want to move to a more attractive commission model do it later. One my old friends in the biz used to say 100% of zero is still zero. He's still right to this day.
As far as best training, you're in better position to judge that after meeting with them. I'd suggest checking out classes, talking to the office agents, and seeing if they have coaches, mentors, or teams in the office to help you.
I would second Brandon's advice. We started at a KW. They had the best training model at the time, and a good mix of top agents there who were the trainers and mentors. We learned from active agents, not trainers. And a wide variety of styles and personalities. I don't know what they're doing now. I would NOT complain that they are assigning too many people to help you. :-)
We're STILL very good friends with our mentor and we still sometimes seek her advice. It's the people at those offices that would make the biggest difference to me. Who did you like and want to spend a good portion of your next six months training with?
I wouldn't plan to stay there forever... Just one or two years. If this works out, you'll be able to move on to something with a better split, or no split, eventually, when you no longer need that kind of training support overhead.
Everyone at KW has a sponsor....while not the model, to me your sponsor should be helping you get going. Maybe not the same level or expertise as a coach/mentor perhaps, but still they should help you in my opinion. They have a vested interest in your success.
Ask if there is an alternative to the initial split with mentor/coach.
There will likely be more training available that you can possibly take at KW. Some in person and almost unlimited online. Be sure to ask to see the training room and costs of training at any office. I expect most at KW is free.
The KW network is very powerful if you plug into it. Be careful chasing splits in the future. Often what we see is the people chasing splits are making it, and think that will put more money in their pocket, but really for most it ends up just prolonging the death of their business. While there are successful people at every brokerage, at KW there are people doing just about every niche and not only doing it in a big way, but a giant way. I doubt any other brokerage can match that success.
If you focus on it, very possible to have no split with KW and have them pay you with profit sharing.
Best wishes and best of success to you in your career.
Anyone with Keller Williams Danville or Coldwell Banker Castro Valley/ Danville? Currently debating which brokerage I should go in as a new agents, below are some information I found. Any insights for me, especially in terms of training would be great. Currently not into exp or ReMax.
KW offering 55/45 in the first three deals, then 80/20, until cap 16k. Monthly fees about the same as CB. Seems like trainings are more synchronized in all market centers, lots of in-person classes weekly to go. However my hesitation is, they assign you a mentor and coach but both seems repetitive to me. And since mentor is still an active agent, I’m worry she will be busy and I will not good mentorship.
CB offering 80/20 throughout until reached cap 36k. Lots of online class/materials. But I’m not sure how does in person trainings work with the broker. Good thing is broker is not an active agent, so she not your competition and takes all her effort to help you. However, will her knowledge be outdated, since she’s not active anymore?
So you are more then welcome to leave anything comments about KW and CB. Especially in the Bay Area/tri-valley. Thanks!
Just to echo what others have said . . . what you want as a newly minted agent is training and mentorship. Split at this stage of the game is irrelevant because if you don't know what you're doing then you'll have 0 sales and 100% of nothing is nothing. There's no such thing as "too much mentorship" and I wish I had a mentor when I first became an agent. If I had a mentor and a coach back then I'm sure my business would have developed a lot faster.
Local leadership/ownership can have a huge impact on an office and I have no idea what your local offices are like. Based on your description though . . . this sounds like a no brainer.
You've said KW is offering more LIVE training (way better than recorded online training) and their cap is way lower. The split isn't as good but once you get some experience under your belt and start capping the cap because way more important than the split. In fact, my office offered to move me to an 80/20 split from a 60/40 split and I elected to stay at 60/40 in order to pay off my cap faster.
Again, your local offices may be different but I've found at KW they really encourage you to be your own CEO and run your own business the way you see fit. Most KW offices have an atmosphere that says "the office works for you." Whereas at CBRB they tend to take the view that you work for them.
Quote:
Originally Posted by Diana Holbrook
I wouldn't plan to stay there forever... Just one or two years. If this works out, you'll be able to move on to something with a better split, or no split, eventually, when you no longer need that kind of training support overhead.
Diana is 100% right. You're not married to your office forever. It's no uncommon for agents to move offices from time-to-time. Personally, I've stuck with KW after being here for four years because in my area I feel it offers the best value. The training I get and the connections I can make being at KW are worth more to me than the lower cap I could pay at some other brokerages. Even 15 years into this career, I feel like I'm constantly learning new things and improving. KW does an awesome job of creating an atmosphere across the company of sharing "what works."
Quote:
Originally Posted by TeamLynn
Everyone at KW has a sponsor....while not the model, to me your sponsor should be helping you get going. Maybe not the same level or expertise as a coach/mentor perhaps, but still they should help you in my opinion. They have a vested interest in your success.
Ask if there is an alternative to the initial split with mentor/coach.
There will likely be more training available that you can possibly take at KW. Some in person and almost unlimited online. Be sure to ask to see the training room and costs of training at any office. I expect most at KW is free.
The KW network is very powerful if you plug into it. Be careful chasing splits in the future. Often what we see is the people chasing splits are making it, and think that will put more money in their pocket, but really for most it ends up just prolonging the death of their business. While there are successful people at every brokerage, at KW there are people doing just about every niche and not only doing it in a big way, but a giant way. I doubt any other brokerage can match that success.
If you focus on it, very possible to have no split with KW and have them pay you with profit sharing.
Best wishes and best of success to you in your career.
More great advice. Don't chase splits especially not at this stage of your career. Always look at VALUE. What are you paying? What are you getting in return for that payment? Is what you're getting back worth at least what you're paying? It better be or you're in the wrong place.
The KW network is amazing. I've learned so much from people who are so incredibly successful. I've made strong relationships with people across the country that I know will take excellent care of anyone I refer to them and they know if they send a referral to me that they will be well taken care of. At many other brokerages, they want you to go through a referral coordinator and you have no control over who receives the client. Then they do a poor job and that reflects poorly on you.
Also, the opportunity for profit share is very cool. Potentially, you could put together a big enough profit share tree to cover 100% of your cap. So essentially, you would have no cap.
It's a really amazing brokerage and I'm very happy that I moved my license here.
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