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The variation of requirements from state to state is interesting ...
54 hours = salesperson in Indiana
You need to have your license for one year plus another 54 hours (actually, it's the same exact class that salespersons take) = broker's license
No additional requirements to be principal or managing broker
16 hrs continuing education every two years to renew
Yes, I actually obtained my license in Indiana and then reciprocated into Kentucky before the laws changed. I am currently one of a very limited few Indiana Principal Brokers who live in Kentucky. There are many Kentucky residents who are Indiana Independent Brokers.
I can legally hold licenses for any one living in Kentucky but licensed in Indiana. Yet, Indiana's real estate commission is so impotent right now, they don't enforce that regulation. I'd bet that 90% of the Independent Brokers living in or out of Indiana aren't registered with the Indiana Sec of State.
By posting this, I just effectively shot myself in the foot. Darn, it hurts.
I payed a lot of money to my company (a Realogy brand) this year. I really like my company, my co-workers, and my BIC. I am in the top 2% nationally for ERA so I'd actually make considerably more at Remax with their desk fees and split level than I do at my current split level. That being said, I'd stay at my company for less money if work with me.
Two questions: If you've worked at both models can you compare your experience with Remax versus a company that ran on commission splits rather than a desk fee, especially if it was a Realogy brand.
If you've negotiated a better split than the company currently offers on paper, how did you do it? Would rather not make the threat that "I'll leave if you don't pay more". If you don't want to put it on the public forum DM me.
Brandon, its about the value proposition. Very few agents understand this. It's not about the splits, but rather about the value received in return for the costs. If Sears was all about the "splits" their stores would all be in the low rent districts rather than in expensive malls and shopping centers. Realtors must understand that same concept. Sometimes paying more means lots more in return.
Each Realtor must choose whether to be a high producer (such as you), operate a cottage business, or somewhere in between. Then they need to match their business model with the best fitting brokerage.
I have found RE/MAX International the very best franchise to allow the broadest mix of business models. At my office, I can effectively serve all models from a $50,000 rookie to a $50,000,000 team.
Those are probably some of the more stringent classroom requirements I've heard. That's awesome.
You would think with Texas having the most stringent requirements, that it would keep some riff raff out, but it doesn't... We have as many licensed idiots as any other state, but probably more since we're a larger state! LOL
You would think with Texas having the most stringent requirements, that it would keep some riff raff out, but it doesn't... We have as many licensed idiots as any other state, but probably more since we're a larger state! LOL
You know we have some stricter standards, not like yours though, and I think just having to pass the 200 question test seems to weed out all the total idiots. So we only have 1/2 idiots here
I can honestly say I have run into one agent in 5 years that I thought was totally slimy and one totally insane. The rest ranged from excellent to poor...but this is going to be true of any profession. No amount of training will change that. Sometimes people just get burned out.
Brandon, I met Lucinda from your brokerage firm a couple of weeks ago at a leadrouter seminar in Atlanta. You are affiliated with a very good brokerage firm. I would think they would work out a good deal for you to stay with them : ) and it would be less costly than changing all your marketing materials and having to get up the learning curve somewhere else.
Good Luck : )
You would think with Texas having the most stringent requirements, that it would keep some riff raff out, but it doesn't... We have as many licensed idiots as any other state, but probably more since we're a larger state! LOL
The pass rate on the TX real estate examine, according to public statistics posted at the TREC website, is 53%. Thankfully, failing to pass the test discourages a lot of people from trying again, though by the third attempt about 70% do eventually pass.
Did you know Texas has fewer agents today than in 1985?
The pass rate on the TX real estate examine, according to public statistics posted at the TREC website, is 53%. Thankfully, failing to pass the test discourages a lot of people from trying again, though by the third attempt about 70% do eventually pass.
Did you know Texas has fewer agents today than in 1985?
Steve
When I took the exam, I was told there was a 75% pass rate. To get to 53%, look at all the idiots trying since 2000... I took the exam in under an hour and passed with a 94%. Not sure why people think real estate is hard, as it is mostly common sense, but not many people have common sense these days so I guess I answered my own question...
When I took the exam, I was told there was a 75% pass rate. To get to 53%, look at all the idiots trying since 2000... I took the exam in under an hour and passed with a 94%. Not sure why people think real estate is hard, as it is mostly common sense, but not many people have common sense these days so I guess I answered my own question...
The math portion is the most commonly failed section of the test in Texas.
When I took the exam, I was told there was a 75% pass rate. To get to 53%, look at all the idiots trying since 2000... I took the exam in under an hour and passed with a 94%. Not sure why people think real estate is hard, as it is mostly common sense, but not many people have common sense these days so I guess I answered my own question...
I aced it, as well, but (a) I studied my tail off and (b) I have absolutely NO test anxiety, which I've discovered is just as critical as actually knowing the stuff. (My nieces, on the other hand, both teachers and sharp as tacks, have serious problems with exams, because they have test anxiety. I actually think it may make them more compassionate teachers and less likely to think a student is "dumb" because they don't do well on tests.)
I habitually test in the top 95-98th percentile on tests, always have. This one gave me pause, though - it was actually a bit tougher than I expected it to be. Perhaps because I kept applying logic to the answers when I knew better than that!
The math portion is the most commonly failed section of the test in Texas.
Steve
Was the same way in CO a million years ago when I passed the exam the first time - didn't realize until afterwards that the math portion counted towards the majority of our score. Fortunately another million years before that lol when I took bookkeeping using a general ledger I knew how to back things out so it balanced. Was the only one in a class of at least 25-30 who passed the first time.
Plus like THL said it's all about studying your butt off - You're lucky THL because I do have 'test anxiety issues' and simply prayed a lot lol that on that test it wouldn't affect my score. But like in anything else in life, the real 'school' is once one passes the exam and is in real life situations (with a kick butt BIC to help newbies). Even attorneys I worked with told me they didn't learn squat in law school - it was when they were thrown into court that they really learned what they were doing.
Hope everyone had a wonderful Christmas (or whatever people celebrate this time of year)
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I knew how to back things out so it balanced. Was the only one in a class of at least 25-30 who passed the first time.
