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Old 03-11-2010, 12:01 PM
 
2 posts, read 3,342 times
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I Just passed my Florida Real Estate test last Friday and have been researching different brokerages. The more I research the more confused I get about where I want to work. I don't know if it's better to work for one of the big franchises or one of the smaller firms. I don't want to start out on a 50/50 split when I know there are Brokers offering 80/20 or 95/5, with little or no office fees.

I was told not to go to Re-Max because they "fee" you to death. But 2 of my friends up north work for them. C-21 has that 8% plus only gives new agents a 50/50 split. SellState and Coldwell are supposed to have good training programs. But whose is best?

I'm just not sure which direction I should go. I'll listen to any advice, but I plan to make a decision in the next 2 weeks.

Thanks.
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Old 03-11-2010, 01:56 PM
 
Location: Just south of Denver since 1989
10,920 posts, read 29,446,381 times
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It is normal to start out at a firm with training. This is a high failure business. don't think about the split first.

Which brokerage is going to be very instrumental in your success? Hint the high fee/low split brokerage doesn't have beginner classes.

Go read the Millionaire Real Estate Agent by Gary Keller.
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Old 03-11-2010, 02:29 PM
 
Location: Columbia, SC
9,099 posts, read 18,114,779 times
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Go with a big firm that offers support and training even if you're on a lower split. 50% of something beats 100% of nothing any day. Later on, you can consider a switch.
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Old 03-11-2010, 03:53 PM
 
175 posts, read 832,133 times
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Quote:
Originally Posted by Brandon Hoffman View Post
Go with a big firm that offers support and training even if you're on a lower split. 50% of something beats 100% of nothing any day. Later on, you can consider a switch.
Ditto! Find the best training.
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Old 03-11-2010, 04:40 PM
 
Location: Central Texas
20,429 posts, read 37,881,109 times
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Absolutely! Find the firm that offers the most support and whose broker/sales manager you're most comfortable with, because no matter how great your instructors, what's in class and what's in the real deals out there are SO different that you'll find yourself consulting them often. The split is not critical in the beginning; having someone who has your back in every way, especially in day to day "wait, they didn't cover this one in class and I could SO get in trouble if I do it wrong!" situations is.

Later, you can either switch or negotiate a better split, depending on your situation and how invaluable you become to your original broker. But, first, consider yourself a trainee, because that's what you are, and your split as paying for education and support, because that's what you're doing.
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Old 03-11-2010, 06:23 PM
 
Location: NJ/SC
4,286 posts, read 13,410,685 times
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I agree, go with who has the best training. You are going to need it at least for awhile. I would also ask around about the BIC and find out how helpful they are. I can't count how many times I had questions the first year and needed her help, especially with all the short sales and foreclosures out there.
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Old 03-11-2010, 06:23 PM
 
Location: Inman Park (Atlanta, GA)
21,871 posts, read 13,129,975 times
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Congratulations!

Like everyone has stated, go find the one with the best training. I know when I first got my license, I interviewed with a big firm, ReMax and two boutique agencies.

For me, the big firm was too rigid and I think the Managing Broker was upset that I didn't consider them since they were such a big agency in my area. I kind of took it as "why wouldn't you chose us?" and "no we make the decision not to chose you, not the other way around".

The two boutique agencies seemed too loosey goosey. I felt that I would have to manage them rather than them teaching me. The Managing Brokers for one of them showed up at the other location for my interview.

I really didn't want to join ReMax from the start because of the monthly fees and not knowing when my first closing would be. But I interviewed with this one group/team and we really clicked. In fact, I am still with them even after we split off from ReMax and formulated our own agency. I shadowed our team leader for the first 6 months soaking in anything and everything. ReMax also had, don't know if they still do, a mentoring program for new agents. They felt that they were missing loosing new agents to other brokerage firms.

I still remember what my mentor said to me when I first started. She said "clients will come to you because of you, not because of the agency or their logo." You know what, she was right!
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Old 03-12-2010, 07:23 AM
 
Location: DFW - Coppell / Las Colinas
32,109 posts, read 36,749,027 times
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Many agents start out at 50/50 and work their way up, which is what I chose. I went with a very reputable company that provides support and training. Those big splits you mentioned are for the very top agents and there should be your goal to reach one day.

There are plenty of places to park your license. Go with only the best company, not the best split. Once you gain experience then you can make educated decisions if you need to change.

Remember, the biggest is not always the best. I prefer a home grown locally owned company or franchise.
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Old 03-12-2010, 07:27 AM
 
Location: Cary, NC
33,671 posts, read 58,494,670 times
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You need two things:
1. Skill at developing your business.
2. Skill at conducting business.

Go to a firm that you think will best teach you how to conduct business and how to generate your own business.

You will not truly prosper in real estate until you step out and are not depending on an office to provide you with business.
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Old 03-12-2010, 07:34 AM
 
Location: Palm Coast, Fl
2,249 posts, read 8,070,516 times
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As everyone has said, go with the place that will give you the best support. Not necessarily training, as I know when I was with Weichert (I started there) I had training, which was their type of training suited to their model of business, not necessarily training for dealing with people in real life, and I received no support. The newbies were left to fend for themselves as far as leads and such...they were given to the ones the brokerage knew had a better chance of closing them. Franchises (the big guys) all are owned by different brokers, they are not all the same, so you really need to interview the broker/office manager. Forget speaking with the experienced agents...speak with the ones that have been on board for a year or under to see how it's working out for them.
I ended up with a smaller non-franchised firm after about 4 months and am glad I did. The support I got was wonderful. I didn't get many leads from them but I was already able to get my own, so it worked for me. Remember...you are your own boss, responsible for your own stuff and success. Make sure you go with a firm who will allow you, from day one, to advertise for yourself, have your OWN website. Always promote your OWN name and business name. If they don't let you do that, don't go there. And...find out from square one, if you should leave, do your listings, customers and deals go with you or how is that handled? You'd be surprised how many people have had deals working and are stuck because they have to leave them behind. They end up trying to time it and not bring new deals in (which isn't in your best interest) or leaving them behind, either not making any money on their work or making less.
And, while you keep all that in mind.... have fun!
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