MY PROGRESS
I have interviewed a couple of offices and have narrowed it down to 2' KW and GMAC Real Estate. It would be great if any of you could give me an advice which one I should pick.
Before that, let me explain my situation. My family is depended on my current income. I have just enough money saved up to pay for the REALTOR board.
(Spending money on real estate classes and on getting a license + a month and a half off of work due to renovation took a deep dent in my saving account.)
KW -- 800 agents
PROS:
-Great office with a lot of agent. If I decide to go with KW, I would be sponsored by one of their teams.
-The team, consisted of 2 people, is growing and from what I have heard it is one of the best teams in the office.
-The lady whom would be my sponsor if I decided to go with them, is to be the best negotiator there.
-a lot of training + scripts to learn by heart
-everyone seems to be happy there
CONS:
-Start-up fees + monthly expenses + marketing expenses
-training that would require me to work less at my current job ---> less income
-a feel of corporation
GMAC REAL ESTATE -- 20 agents
At KW, I'd gain knowledge about closing, negotiation, prospecting etc. through the training when I first start. At GMAC, I'd learn some at the beginning, but I will learn as I go/grow.
A mentor will be assigned to me. YAY! I didn't get to meet any agents. From what I was told, most agents work from home. And their training is learned through their website.
PROS:
- no start-up fees, no monthly expenses, free copies
--> the only expense dues to the office is E & O insurance
- some leads (internet leads + relocation leads)
-training schedule doesn't require me to work less at my current job --> maintain the same income while learning/starting the business
CONS:
-training seems not be as deep and extensive as KW.
-not as big as KW --> smaller inventory
Considering my financial situation, I'd say GMAC is the most suitable. As far as my training goes and the experience of KW team would help me tremendouly. That doesn't, however, say that GMAC trainer/mentor is not competent. I'm not sure what he meant by 'in order for him to sustain the business(to pay his employees on salary), he also has to sell properties unlike KW.
I've talked to a trainer at Coldwell Banker who was very honest. He recommended me to not go with KW or even with his office just yet unless I have enough money saved up for all the dues because the dues would eat me up alive before I even could get up and going.
I am gathering opinions from different brokers' right now. It would be great if you could give me some inputs.
THANK YOU!!!