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If you want to work for a company that runs a profitable business model and teaches the same, then KW is hands down the winner. Keller Williams has gained market share in this downturn (now the third largest real estate company), is profitable, has absolutely ZERO debt, and paid its agents $30M in profit share in 2008. Each office runs the same. No sweetheart deals or special treatment for any agent. Everybody gets the same deal. KW offices that can't profit, or are poorly run are shut down. It's a really tight ship.
Realogy (owner of CW Banker, ERA, C21 and others) on the other hand, is $6 BILLION in debt. Who's your Daddy? Might as well be Titanic Realty.
Rich Dad Poor Dad. Who do you want to learn from?
And that said, no company is the best fit for everyone. It's the Broker and how the office is run, how the agents treat each other, the culture of the office, etc. that determine whether it's a fit for you.
Steve
Agreed, about KW, and the fact that the local, personal fit matter most.
There IS a powerful comfort in working for a debt-free and profitable company and firm, isn't there?
I will reiterate that it is not the company you want to look at but each individual brokerage.
I am with Weichert and my broker had some very good training in place and Weichert itself has some great training but not every Weichert brokerage utilizes everything at their disposal.
I focus on the training aspect since I believe that is the most important for a new agent.
Weichert is also the largest independent real estate company in the U.S. which means there is no board of directors that would steer the company wrong in the search for profits instead of good real estate practices. It is still owned by my Jim Weichert who founded the company in 1969.
For me, absolutely.
Would you hire a fat workout trainer? No
Would you a twice-divorced marraige councelor? No
Then why would one launch a new business with a bankrupt partner?
Steve
Come now, no need to run down anybody, nor is your post accurate. The local broker and owner is far more important than the national brand. My local KW isn't so strong but they are an excellent national brand. I would work for at least 4 other companies over KW in my market.
If you think Realogy is bankrupt you're sadly mistaken or grossly mislead. Realogy has money leveraged but it isn't all real estate. Realogy is the umbrella company over a lot of assets outside of real estate and carries far more clout than KW. Also, they have the largest network and relo company in the world in Cartus.
OP, if you're still hanging around go meet all the companies and see where you fit in best.
The local broker and owner is far more important than the national brand.
I don't disagree with that. But I also don't believe that the health of the mother ship, or the general business approach of the brand as a whole should be ignored.
In our market, in Austin, KW dominates with about 20% market share. As much as I love KW, if I relocated to another city, I would examine the local market and try to determine if brand recognition is something that can be leveraged by agents, and if so, which company offers that advantage and why. Then I'd decide if that company's values and business ideals that match my own, and if the local Broker was a good fit, etc. So yes, even KW would have to earn my affiliation in the local market.
Quote:
If you think Realogy is bankrupt you're sadly mistaken or grossly mislead.
Well, let's let 2009 answer that question. I personally just don't see how they climb out from under a mountain of debt while maintaining ongoing operating losses. But perhaps I'm wrong.
Nevertheless, I do like the fact that I'm associated with a fiscally responsible company, as I live my life in the same manner.
No doubt that it was people from other brokers who told you this.
I was and remained stunned at the amount of unprofessional bad mouthing agents do to each other.
Actually, you are wrong. This was coming from "people" I know in Austin and their perceptions of the different brokerages and experiences they went through and stories they heard from their friends also buying and selling. Other brokerages were very reluctant to say anything "bad" about other brokerages.
But I also got some of the "part-timer" information from other KW agents in the Dallas market talking about the Austin market.
You should assume the worse that agents are unprofessional and bad-mouthing others.
Working with EXIT since 2006 and loving it! Great training, Great people, Great corporate culture and Great opportunities for retirement and death benefits. Who thought you could get so much from the company you affiliate with!
I'm located in Maryland and work under the Long and Foster umbrella which has a very strong presence in MD, VA, WVA, PA and Delaware. I agree it does come down to each individual brokerage and the broker can make all the difference in the world. I work mainly in Baltimore and there's 4 LNF brokerages within 5 miles of where I live. There is one right around the corner from my house but I opted for one further away because I felt it was the best fit and more centrally located. The nicer office building (Historic Fell's Point) didn't hurt either.
You should look for a broker that can furnish you leads, a real-estate office that is heavily geared towards internet leads, like Zip Realty or Exit Realty or Easystreet Realty if they are in your area.
I am not talking about a brokerage that sells you leads, how these work they set you up to be in a rotation to get leads, as one agent gets a lead then the next lead goes to the next realtor in rotation.
Depending on the company your commission is set up as a regular brokerage, some will pay 70%/ some 50% and then there's the sliding scale. If you have allot of referrals you may not want this type of brokerage then you will want to go to a brokerage that pays 100%.
Stats show that 85% of the homes purchased were found on the internet first and a buyer will talk to at least 5 agents before they make a decision on which agent they use.
Usually a buyer will use the first agent the contacted them. Also stats show that the buyer doesn't care about branding all they care about who is going to find them what they want and respond to them and to answer calls and respond to emails in a timely matter. Most agents never respond to an email by a potential buyer.
The thing with being an internet agent you have to be internet savvy and be able to make a good impression via emails and the phones. Since I live in Vegas it is very important for me to find out of state buyers or out of the country since most of those buyers tend to be more serious then our local buyers. That is because we are at a 14.8% unemployment and are #1 in foreclosures and those local buyers tend to fit in that category. The move up buyer is almost non existant here.
Good Luck in your search
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