Consumption and Real Estate
I can’t decide what real estate company to work for and it is driving me crazy. Can you please help?????
Question : I can’t decide what real estate company to work for and it is driving me crazy. Can you please help?????
I am trying to decide between Long and foster, Exit Realty and Resales and Investment Realty.
Long and Foster- $ 700 Startup, 50/50 commission split, 6% marketing fee per commission, flexible commission schedules, direct deposit available, there is floor time , there are no desk fees, intranet (not sure if it will work on my computer), free agent website and email, free signs ($ 49 value each), company pays half of your marketing, in business 40 years
Exit Realty- Start up : $ 1200 ($ 470 upfront and rest in 30 days) 70/30 commission split up to $ 100,000, then it goes to 90/10, (plus the following additional fees per transaction: 1% of gross commission for worker’s comp, $ 150, $ 85, $ 30 and $ 35), you make additional money sponsoring (10% of commsion amount of person you sponsored), there is no floor time or desk fees, there is no website or email for agents, no marketing assistance at all, been in business for 6 years
Resales & Investment Realty- Startup $ 1011, 70/30 commission
Cont. Resales & Investment Realty:
one-on-one traning, free marketing material, no desk frees, no floor time, free leads that are forwarded directly to your cell phone, 80% comm on personal sales, no other out of pocket fees, free webpage, management available evenings, been in business for 4 years.
exit realty signs
Best answer:
Answer by Katy C
Start with the cheapest that doesn’t require a commitment. Once you’re in, you’ll be privvy to inside information concerning the others and can then decide whether to make the expenditure.
Melissa,
I have been a broker for 12 years and wish you luck.
I am presuming that you are a newer licensee.
“Give a man a fish and you’ll feed him once. Teach him to fish and you ‘ll feed him for life.”
I would set aside the split and startup fees and make my criteria one thing: go with the company that has the best training, period. If you are trained well and you are on a 50/50 commission split, you are earning 50% of a decent amount of business. If your commission split is 90/10, but the training is non-existent, you are earning 90% of nothing.
When I started out I worked as an underling for a superstar team and learned the business as their assistant/buyer agent/apprentice. I held their listings open and picked up my own buyers that way. I followed up on buyer inquiries on their listings because they couldn’t follow up on every one themselves, and I developed clients from that too. I was involved in a ton of transactions, some of which I got only a small piece, but I still made plenty of money and after a year I was ready to create my own business & command a very, very good split.
I’d recommend that anyone else starting out do the same. Hitch your wagon to the team of a high-producing agent who is expanding their team. New agents have ZERO listings and therefore few means of generating buyers to work with. Even if you are making coffee for a superagent in the beginning, you will be learning to fish, as the adage goes. This is not an easy business. You have to learn the ropes, and that includes developing clientele (not easy), generating leads, managing transactions, and so forth. Your startup fees and split are really secondary to those things. If you know how to create and manage business, your split will be your to dictate in the next few years.
Best of luck.