Career in Real Estate (new agent, commission, contracts, Realtors)

[missnew2nc]

Hello good people!

I have finally passed my real estate exam......I am licensed in the state to sell Real Estate, but here is my problem. Who should I work for? Coldwell Banker has a 50/50 commission split and desk fee's of $126.00 a month (very high price to pay, but CB is a well established name). Keller Williams has a 70/30 commission split with desk fee's of $86.00 a month.

The obvious choice is Keller Williams, but I am wondering would it be better to work with a big name like Coldwell Banker.....

Any comments will be greatly appreciated.

[North_Raleigh_Guy]

I have no experience in the Real Estate Industry so you can take my opinion with a grain of salt, but from a recent buyer's perspective in my opinion those are both well respected RE companies in this area. It is interesting to me how the commission varies from company to company but I will leave that discussion to those better informed to the inner-circle of the real estate world!

I feel that if you are a dedicated agent working for a good broker that you will be successful no matter which agency you choose to work for whether it be CB, KW, FVM, YSU ect..... Best of luck to you with your new career!

[leighbhe]

I think you will find that the realtors on the board will say different things based on where they are working! I have my own little company, but I know that Debbief from this board works for howard perry and walston, and mikejaquish works for keller williams. There are many other realtors on the board, I just happen to know where they work! I am sure mike and debbie could give you some good insider information.

Leigh

[Comedian]

as a matter of interest how long does it take to study for the exams? how many papers and what is the format of the exams ie written papers?, multiple choice?. online format? continuous assessment? distant learning or classroom based?

and finally what are the costs of qualifying - thanks in advance

[missnew2nc]

You have to take a 75 hour course and a difficult online exam. You dont have to be a brain surgeon to pass it, but you might have to possibly dedicate a month of your life to studying.

[MikeJaquish]

Originally Posted by missnew2nc

Hello good people!

I have finally passed my real estate exam......I am licensed in the state to sell Real Estate, but here is my problem. Who should I work for? Coldwell Banker has a 50/50 commission split and desk fee's of $126.00 a month (very high price to pay, but CB is a well established name). Keller Williams has a 70/30 commission split with desk fee's of $86.00 a month.

The obvious choice is Keller Williams, but I am wondering would it be better to work with a big name like Coldwell Banker.....

Any comments will be greatly appreciated.

MissNew,
First and foremost:
Congratulations!
Feels good to have passed, doesn't it?

Now, where to go to work?
With an 80% attrition rate annually, there is so much more to consider than the split when making the choice. Get it right, so you don't have to let your whole database know that you are with a new firm in 8 months or a year.
Don't join any firm until you visit a few sales meetings, or team meetings, as we call them at KW. I am at KW because I went to a team meeting and the flow of positive energy sold me in a heartbeat.

You need to go to work at a firm:
Where you like and respect the Broker-in-charge. This is too huge to ignore or put second,

Where you feel welcome,

That is reasonably convenient to your home and likely marketplace,

Where your business is YOUR business, and YOU are your brand so your marketing investment builds YOU in the market more than the company,

That will offer ongoing training in business building, sales, prospecting, and legal and ethical issues,

Where the vibe in the office is positive and encouraging,

Where others congratulate your for your successes and spur you on,

Where you like to go when it is time to go to the office,

Where the ethical and legal grounding are unquestioned in your mind,

Where you will learn to stress your positive attributes and strengthen you weaknesses in the sales process,

etc.

If many of these fundamentals are missing, then the split will not matter. Not at all.

Have you interviewed at KW? Would you like me to arrange a meeting for you? I would be glad to do so. Just let me know.

And once again:
Congratulations!

[DebbieF]

Mike,

Sounds like you were talking about my office there ;-) Actually all that Mike mentioned is very important. I know a few people in my office that picked the Strickland Rd. office because of our BIC, and the upbeat people that work in that one, and they drive a distance to get there. When I met Carole I was sold totally. On the same note if you would like to meet her, I could set that up for you, just pm me. Good Luck and congrats on passing the test. I remember when I did I was sweating bullets.

[missnew2nc]

Thanks for your advice! I need to make a decision....I am ready to hit the ground running, but I want to make careful decisive steps. This is not something to RUSH into. This is my career! You've been a great help

[MikeJaquish]

Originally Posted by missnew2nc

Thanks for your advice! I need to make a decision....I am ready to hit the ground running, but I want to make careful decisive steps. This is not something to RUSH into. This is my career! You've been a great help

Right! Now is not the time to rush.
Haste makes waste.

Have fun!

[VickiR]

Congrats on passing that exam! It ain't as easy as some may think!

I would say, as a new agent, you may want to take into consideration that most of the large companies offer 2-3 weeks of training, 5 days a week.

This is different from what you had to learn to pass the NC State Exam. This is how to fill out contracts and what to do with those clients when you get them!

Vicki