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Thank you Tom. I appreciate you. Do you know any strong RE/MAX offices in my area? I don't know if RE/MAX is strong in this area or not. It seems so many work for KW.
You have a very good handle. Matter of fact, I would suggest that you have one of the best understandings of how to make "it" happen.
Now, you have a couple of choices. You can work with the Success Model, which means that you have very little investment with very little return. 90% of all real estate brokerages and models work with this model. The failure rate of those brands and independent brokerages is high. A small minority of agents who make their first stop in a KW, CB, Pru, or BH office are still in the business after 24 months.
Now, you can invest in yourself, by looking at a 100% model. I like to compare the 100% model to a business in a shopping mall. Let's say that you are opening a business selling shoes. You can open in a warehouse district, or maybe a stand-a-lone building out on the highway. You may operate at a minimal profit at one of these locations. Your other choice is to open in a busy shopping center. There you will have 100's if not 1000's of customers walking through your doors. Yes, the cost will be higher, but you'll have the one thing that every business needs, customers willing to buy. A few may be just kicking tires, but everyone will be a prospect.
So, instead of trying to find an office that will succeed if you succeed, find an office that will provide you with the tools and services that you will need to earn an truly profitable return on your investment.
RE/MAX is typically a 100% model, but there are many other brands and offices which use a similar model.
Achievement in anything worthwhile requires risk through investment.
Edit: PS: Every RE/MAX is independently owned and operated. Just because one RE/MAX is weak or strong, it doesn't necessarily mean another is weak or strong. You must consider each RE/MAX office as though they are competitors to each other.
I never heard of any office that is paying 100% other then what they claim but in reality let them proof it on paper by showing other agents pay check combined with the HUD statemen from the closing!
100% results uaually inway lower since they have flat fees, monthly fees, other amounts that they don't incl. which are incl. with other offices when the real commission is disclosed.
It is like comparing apples to oranges.
You are stating by renting a place...100% pay out...like rent and other costs of business are not something to compare when you want a honest discussion.
In the commission split at CB, since I have a CB office the complete info I have is about our own office and I can tell you no agent is paying rent at least not directly, but of course indirectly they are paying from their commission towards the over head.
When you are the broker/owner and you have your own office you have to pay for rent, utilities, licenses, E & O, marketing (unless you sit and wait until the phone rings), internet and phone lines, fax machine, copier, computer, signs, posts, website (unless you want to be invisible), MLS and other professional fees, etc.
So the 100% will be how much after all of that?
I know raltors also invest in some of the things like a cell phone and perhaps some printing and board dues and education but the other items can all be gotten at our office without any monthly fee!
I never heard of any office that is paying 100% other then what they claim but in reality let them proof it on paper by showing other agents pay check combined with the HUD statemen from the closing!
100% results uaually inway lower since they have flat fees, monthly fees, other amounts that they don't incl. which are incl. with other offices when the real commission is disclosed.
It is like comparing apples to oranges.
You are stating by renting a place...100% pay out...like rent and other costs of business are not something to compare when you want a honest discussion.
In the commission split at CB, since I have a CB office the complete info I have is about our own office and I can tell you no agent is paying rent at least not directly, but of course indirectly they are paying from their commission towards the over head.
When you are the broker/owner and you have your own office you have to pay for rent, utilities, licenses, E & O, marketing (unless you sit and wait until the phone rings), internet and phone lines, fax machine, copier, computer, signs, posts, website (unless you want to be invisible), MLS and other professional fees, etc.
So the 100% will be how much after all of that?
I know raltors also invest in some of the things like a cell phone and perhaps some printing and board dues and education but the other items can all be gotten at our office without any monthly fee!
Hi Bentlebee,
I don't completely understand what you're saying but I think the post was for someone else.
Have you been licensed for very long? Did you start with CB? Did you have decent support and/or a good mentor program when you started with CB?
It'd be nice to bump into someone in this forum that recommends some offices in my area. Inside scoop is nice. Tom had referred someone to a strong RE/MAX office (Gold, I think).
I don't completely understand what you're saying but I think the post was for someone else.
Have you been licensed for very long? Did you start with CB? Did you have decent support and/or a good mentor program when you started with CB?
It'd be nice to bump into someone in this forum that recommends some offices in my area. Inside scoop is nice. Tom had referred someone to a strong RE/MAX office (Gold, I think).
Thank you for your time.
If you read my post again you will see that I stated "I own" a CB office and I'm the broker as well.
CB has a very good mentoring program as well as a reward winning University training program and marketing program, etc.
I never heard of any office that is paying 100% other then what they claim but in reality let them proof it on paper by showing other agents pay check combined with the HUD statemen from the closing!
100% results uaually inway lower since they have flat fees, monthly fees, other amounts that they don't incl. which are incl. with other offices when the real commission is disclosed.
It is like comparing apples to oranges.
You are stating by renting a place...100% pay out...like rent and other costs of business are not something to compare when you want a honest discussion.
In the commission split at CB, since I have a CB office the complete info I have is about our own office and I can tell you no agent is paying rent at least not directly, but of course indirectly they are paying from their commission towards the over head.
When you are the broker/owner and you have your own office you have to pay for rent, utilities, licenses, E & O, marketing (unless you sit and wait until the phone rings), internet and phone lines, fax machine, copier, computer, signs, posts, website (unless you want to be invisible), MLS and other professional fees, etc.
So the 100% will be how much after all of that?
I know raltors also invest in some of the things like a cell phone and perhaps some printing and board dues and education but the other items can all be gotten at our office without any monthly fee!
I have been threatened with expulsion from this forum because I speak the truth that no one wants to hear. So, let me be certain to make myself perfectly clear. No one in the world sells more real estate than RE/MAX. Keller Williams has the most agents in the US, (almost 3 to 2 vs RE/MAX) CB has almost as many as KW, and C-21 is right there, too. Yet, RE/MAX agents sell almost twice as much as those three firms put together. There is a reason, but RISMEDIA, NAR, and other real estate publications back those numbers up.
That being said, there are some horrible RE/MAX brokers out there. We are all independently owned and operated franchises. There are some exceptionally good KW, CB, & C21 offices, too. Do not ever misunderstand the difference between micro and macro. On the micro-level, we look at individual offices and on the macro-level, we look at the entire spectrum.
My wife and I own a statistically mid-level office when compared to the other RE/MAX franchises of the Louisville market. We don't win any class, and we don't bottom dwell in any category either. We would be at the top of the market, if we didn't take in rookies, newbies, and burnt out Realtors. They come to us and we "refurbish," educate, coach, and enjoy seeing our people getting excited and headed to the bank.
We are proud of the work our people are doing. We also know that tomorrow morning, we must get up and go to work again as refurbishing, educating, and coaching must be done every day.
No RE/MAX agent who has joined or moved offices (unless their office closed) since 2004 is a fully 100% agent. We are all 95/5 plus management & shared expense fees. At my office, a person can work for 95/5 (for you Realogy folks, most I know charge their agents a 6% franchise fee similarly), then depending on how they choose to pay their management and shared expenses, they can work for as low as $1,000 per month, and as high as $1,400 per month. If anyone is going to make a living they must sell nearly $3,000,000 in business per year at the "HUD endorsed 3%" commission rate, that is a Gross Commission Income (GCI) of $90,000. A Realtor working in my office would pay: 5% ($4,500) then $14,400 max cost or a total of $18,900 (79/21% split). If they sell $5,000,000 in business ($150,000 GCI), their costs would be $ 7,500 plus $14,400 ($21,900) equaling a "split" of 85.4/14.6. How many agents of any of the other brands sell more than $5,000,000 per year without a team or expensive administrative assistant?
This means that any agent who operates as a business, nets more take home profits with RE/MAX than almost any other brand or independent.
Now, I am not about arguing, but the facts of why an agent should find and work for an outstanding RE/MAX office are just too obvious.
Thank you Tom. I appreciate you. Do you know any strong RE/MAX offices in my area? I don't know if RE/MAX is strong in this area or not. It seems so many work for KW.
I don't have any and not certain how OK works, but here in Kentucky, I can have an agent living anywhere in the state, with a check scanner, a document scanner and high speed internet and know they are fully legal and functional.
I have been threatened with expulsion from this forum because I speak the truth that no one wants to hear. So, let me be certain to make myself perfectly clear. No one in the world sells more real estate than RE/MAX. Keller Williams has the most agents in the US, (almost 3 to 2 vs RE/MAX) CB has almost as many as KW, and C-21 is right there, too. Yet, RE/MAX agents sell almost twice as much as those three firms put together. There is a reason, but RISMEDIA, NAR, and other real estate publications back those numbers up.
That being said, there are some horrible RE/MAX brokers out there. We are all independently owned and operated franchises. There are some exceptionally good KW, CB, & C21 offices, too. Do not ever misunderstand the difference between micro and macro. On the micro-level, we look at individual offices and on the macro-level, we look at the entire spectrum.
My wife and I own a statistically mid-level office when compared to the other RE/MAX franchises of the Louisville market. We don't win any class, and we don't bottom dwell in any category either. We would be at the top of the market, if we didn't take in rookies, newbies, and burnt out Realtors. They come to us and we "refurbish," educate, coach, and enjoy seeing our people getting excited and headed to the bank.
We are proud of the work our people are doing. We also know that tomorrow morning, we must get up and go to work again as refurbishing, educating, and coaching must be done every day.
No RE/MAX agent who has joined or moved offices (unless their office closed) since 2004 is a fully 100% agent. We are all 95/5 plus management & shared expense fees. At my office, a person can work for 95/5 (for you Realogy folks, most I know charge their agents a 6% franchise fee similarly), then depending on how they choose to pay their management and shared expenses, they can work for as low as $1,000 per month, and as high as $1,400 per month. If anyone is going to make a living they must sell nearly $3,000,000 in business per year at the "HUD endorsed 3%" commission rate, that is a Gross Commission Income (GCI) of $90,000. A Realtor working in my office would pay: 5% ($4,500) then $14,400 max cost or a total of $18,900 (79/21% split). If they sell $5,000,000 in business ($150,000 GCI), their costs would be $ 7,500 plus $14,400 ($21,900) equaling a "split" of 85.4/14.6. How many agents of any of the other brands sell more than $5,000,000 per year without a team or expensive administrative assistant?
This means that any agent who operates as a business, nets more take home profits with RE/MAX than almost any other brand or independent.
Now, I am not about arguing, but the facts of why an agent should find and work for an outstanding RE/MAX office are just too obvious.
I made a mistake in my math. I should have said, RE/MAX agents sell about the same number of homes as CB, & C21 combined. I was mistaken with the statement "twice as much." I apologize.
Thank you Tom. I appreciate you. Do you know any strong RE/MAX offices in my area? I don't know if RE/MAX is strong in this area or not. It seems so many work for KW.
There are four offices which indicate they serve Edmond.
RE/MAX Associates Realtors (Edmond)
RE/MAX Gemini (near Tinker AFB)
RE/MAX First (Near Lake Hefner)
RE/MAX Preferred Properties (north-central OKC)
There are four offices which indicate they serve Edmond.
RE/MAX Associates Realtors (Edmond)
RE/MAX Gemini (near Tinker AFB)
RE/MAX First (Near Lake Hefner)
RE/MAX Preferred Properties (north-central OKC)
Thanks Tom. I'll definitely check out these offices.
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Tom had referred someone to a strong RE/MAX office (Gold, I think). 
