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- What is the broker-agent commission split? What other fees are associated with the franchise, how often are they due?
- What other benefits do you provide to your agents? - What training programs are available?
- What times are the training available? (You want to make sure that the training times are flexible, especially if you have other work obligations).
- What forms of marketing do you have available for listings (when homes are sold by sellers ) and sales (when homes are bought by buyers). Are there a fee charged to agents?
- How is your compensation disbursed after a sale. (Some companies might direct deposit into your bank account within 5-7 days of you turning in a commission check and others within 2-3 days. This plays a part on the due date of your monthly bills.
- Is there an seasoned agent I can shadow and apprentice with to get the experience that I'll need. (So when you go on your first appointment you've already been exposed to meeting and talking with clients).
- There are continuing education classes that must be taken every 2 years to maintain your license, do you provide those classes on site or at any other location?
If you have these answers upfront, you can make a comfortable decision on which company to partner with.Hope this helps!
I recently started my Real Estate career with in the last two years. It is very difficult to decide where to begin. There are a lot of companies out there. I have never been on a Real Estate interview where I was told I wouldn't make a great fit there. If you know how to carry yourself, and have had a successful professional career everyone will want you working with them. Because of high turnover rates, many companies have to keep good prospects coming in, especially the larger ones, and yes most benefit in some sort of way from you joining, but you will benefit too, because part of their success will depend on yours. It costs me about $2000 a year just to be licensed, and be part of all my associations. Of course this varies from company to company and state to state. Be prepared for those dues and fees!
Most of the larger companies offer more free training but their splits are lower. When you first start it's nice to have access to all the training, because you need it!! Companies like Coldwell Banker, will offer more office and supply support, but Keller Williams offer the most training programs. You have to decide if need more cash flow, or more training when first starting out.
Marketing is very important, but expensive. At the end of the day this is a people business, and no matter how many things you send out, you still have to get out there and talk to people. Either dive in and do it right, or do what I did and work 2 full time jobs for a year. Neither choice is easy. Ultimately, if anyone wants to be successful running their own business, 100% of their attention should be on it. Real Estate is not a business to dabble in like it used to be. You have to be in it to win it every day.
I don't think it's a great idea to bounce around a lot. Having to replace business cards and printed material can be expensive, and you want to consistent with what you do on a daily basis. I would ask to attend a sales meeting as a guest, or a training class a few times, and get an idea of the culture of the place and who the agents are. See if you like it or not. Larger companies will let you do this. You want to be where you are most comfortable, because that will bring you greater joy and success.
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