(RealEstate Professionals) If you could do it from the begining..who would you hang your license with and why? (agents, commission)
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Hi, I am a Realtor-Associate in Miami and wanting to get some sound advice about who you believe would be the best realestate company to work with? I am interested in a training program and broker support if needed...I interviewed with GMAC but the split structure seemed a little steep... they told me they only want seasoned agents but with someone like me who is motivated and has the entrepreneurial mind-set they are willing to get me on board....please let me know what your thoughts are, thank you
Sometimes, some brokers will say anything to get an agent to hang their license with them.
Always keep that in mind.
And second, your local C21 could rock - but mine could be a horrific hell filled pit. (And feel free to repace C21 with KW, Prudential, RE/MAX ... doesn't matter.)
It truly depends on your individual brokerage. Interview with your local offices - and then solicit local agent opinions if you can.
Sometimes, some brokers will say anything to get an agent to hang their license with them.
Always keep that in mind.
And second, your local C21 could rock - but mine could be a horrific hell filled pit. (And feel free to repace C21 with KW, Prudential, RE/MAX ... doesn't matter.)
It truly depends on your individual brokerage. Interview with your local offices - and then solicit local agent opinions if you can.
Good luck to you.
Ditto here. A lot has to do with how well the MB runs the office - interview all in your local area and you should be able to talk to current agents about their experience (away from the MB) and it will provide you with good feedback (go to websites - rosters are always posted). You might find the right brokerage in your area that's a perfect fit for you is an independent - or it could be a franchise. But interview everyone and ask a lot of questions about 'what are you going to do for me'. Then don't just make a quick decision - take time to evaulate all of the brokerages you interviewed so when you do make the move, it's one that will be a good fit. Good luck
One hint, KY and maybe your state allows agents to "own" their listings so long as there is a provision in the contract stating that you may take your listings with you if you move.
Don't sign with any broker that won't give you that clause if your state allows.
The big box national franchises tend to do a better job with training.
They also tend to take 50% of your side of the commission with pre-determined production level changes. The more you close the better your split.
Most Re/Max franchises will not take on newbies.
Keller Williams does OK with the splits but education/support of a newbie is highly variable by office.
Do not look to any of these places for business leads. It's your business and you are responsible for generating your own business under their umbrella.
Pay attention to things like, E&O Insurance, Team Funds, Phone Charges, Desk Fees, who pays for advetizing/ internet exposure, policies for floor time, opportunities for Open Houses and the culture. Are you charged for copies, color copies?
Is there a support staff to create brochures and is there an incremental cost associated with this? Does the broker impose an Admin Fee above and beyond the listing commission, on all listings? Chances are you will eat it half the time. How much does the broker charge the buyer's broker on a listing? What does the broker charge for a referral? Does the broker impose a listing fee on the listing/MLS fee on the listing agent,upon close.....above and beyond the split?
Is there any pressure to "sell" affliated services of lenders, title companies, home warranties? Agents are not compensated for selling affliated business arrangements. To say there is political pressure, in some offices to deliver, is an understatement.
These are very real costs above and beyond your license, board fees, NAR fees, MLS fees, state association fees and continuing education. These are the cost of doing business and write-offs, assuming there is offsetting income.
I like the way Chuckity put it.....it all depends on the managing Broker in the office. There is no way to generalize any of the brand name brokers and sometimes a small local office is a better fit.
Last edited by middle-aged mom; 07-17-2009 at 06:41 PM..
Sometimes, some brokers will say anything to get an agent to hang their license with them.
Always keep that in mind.
And second, your local C21 could rock - but mine could be a horrific hell filled pit. (And feel free to repace C21 with KW, Prudential, RE/MAX ... doesn't matter.)
It truly depends on your individual brokerage. Interview with your local offices - and then solicit local agent opinions if you can.
I am a RE/MAX broker-owner. As so many have said, the quality of broker you can find can and does cross brand lines. I encourage everyone to shop wisely, but as for my firm, we operate with full understanding that if our people are not meeting their personal goals each year, they will become vulnerable. Once vulnerable, they become prospects for other brokers. Associates are not cheap. We invest huge amounts of cash and time in maintaining offices, technology, coaching, and yes, even worry.
One controversy: A 70/30 gross commission split is not necessarily better than a 60/40 split. While my firm beats the socks off the 70/30 split, I must make certain that my agents take home more total dollars even with a 100% or 95/5% share.
Ditto here. A lot has to do with how well the MB runs the office - interview all in your local area and you should be able to talk to current agents about their experience (away from the MB) and it will provide you with good feedback (go to websites - rosters are always posted). You might find the right brokerage in your area that's a perfect fit for you is an independent - or it could be a franchise. But interview everyone and ask a lot of questions about 'what are you going to do for me'. Then don't just make a quick decision - take time to evaulate all of the brokerages you interviewed so when you do make the move, it's one that will be a good fit. Good luck
Quote:
Originally Posted by tomocox
One hint, KY and maybe your state allows agents to "own" their listings so long as there is a provision in the contract stating that you may take your listings with you if you move.
Don't sign with any broker that won't give you that clause if your state allows.
Quote:
Originally Posted by tomocox
I am a RE/MAX broker-owner. As so many have said, the quality of broker you can find can and does cross brand lines. I encourage everyone to shop wisely, but as for my firm, we operate with full understanding that if our people are not meeting their personal goals each year, they will become vulnerable. Once vulnerable, they become prospects for other brokers. Associates are not cheap. We invest huge amounts of cash and time in maintaining offices, technology, coaching, and yes, even worry.
One controversy: A 70/30 gross commission split is not necessarily better than a 60/40 split. While my firm beats the socks off the 70/30 split, I must make certain that my agents take home more total dollars even with a 100% or 95/5% share.
Once again, no offense Tom, but you had already posted and so had I (I quoted both of our previous posts & highlighted just a couple of sections). Not sure it was necessary to go into a recruitment advert here nor encourage the OP to NOT sign with a brokerage that wouldn't allow them to 'take' their listings with them if they left. Like you even said, 'we invest huge amounts of cash and time in maintaining offices, technology, coaching" Though, of course, this is JMO
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Lots to think about ...
