Question On What RE Agency To Work With As A New Agent
Greetings,
I am getting my agent's license in PA, and want to know who I should be looking at working for. I have experience in investing, plus a plan to use seminars for new investors to attract a pool of potential buyers. I am not interested in just showing homes to couples.
Any thoughts on who would be good to work with in terms of support and commission split?
joe,
For someone just starting out as an agent, I would recommend an agency that is NOT a 100% type--in other words, NOT an agency where you would be required to pay a fee every month but keep 100% of the commissions. If you want to learn real estate, choose an agency that has a strong in-house training program. Usually, but not always, these are larger offices. The training should be for real, not lip-service.
Very favorable commission splits are nice, but remember that 80, 90 or 100% of nothing is still nothing. So in selecting an employing broker, I'd look for an agency that had good market presence--lots of signage and print media advertising. A larger agency would also tend to have a diversity of inventory (non-residential and investment as well as "straight" residential). A diversity of inventory attracts a diversity of clientele and opportunities. Get exposed to different types of real estate. This will give you a broader base of education and experience. This is what I did when I started 22+ years ago.
Nancy
I'm not an agent or have even taken my state exam,... yet. I'm a NEWBIEE . :D But I found a broker through our local community college. I feel my future broker is going to be great. He's already shown me that his intrest to train and continue training by being a Principles of Real Estate Teacher. Maybe you might be able to find someone at your local Colleges too. This Newbiee is gonna have a home soon. :D:D:D:D
joefromphilly
You have an excellent idea about staying focus on "investment" area of real estate.
You need to "specialize" in real estate to quickly expand your business, make money, and not seem you are "re-inventing the wheel" on every deal.
Another comment my first broker stated was ... "It pays to be the lising agent ! ! ". I have almost repeated that phrase every day. Being the listing agent that is what has work extremely well for me.
Your comment was to have seminars to attract "buyers". If you enjoy working with buyers versus sellers ... then go that route. But probably with less effort by targeting sellers in your investment area ... you will become the listing agent with agents and buyers calling you on "your" listings.
Take an area of apartments, duplexes, rental homes, and other rental properties for your targeted investments listings ... send notices to the sellers.
Good Luck !
Cheryl Lopez
I appreciate the comments. I did not see anyone suggest anyone to look at or to look away from. Any thoughts here, or should I just look to get started with a major player, a la Century 21?
The advice you've already got is good, and I'd just add this:
If you'll make yourself go interview a dozen or so RE Brokers, you'll get a terrific idea of what's what, and who's who, and the result for you will be a very good idea of where you should be hanging your license.
I have a buddy who works for Keller Williams and who speaks very highly of their educational programs. Normally my advice would be to stay away from big chain-firms like that but John's opinion of them is so high that I could recomend them.
KW has 10 offices in the metro Philadelphia area.