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Thank you all for your replies. I was told about MLS fees, Biz cards, NAR fees etc. I'm fine with that, I don't think I have to pay any of those while training though. I'm an investigator by nature, and before I went to the interview--to see if I will be sponsored since I didn't want to take the course and have to tread the pavement looking for a broker--I google earthed the location, read their website thought about it, re read the website, thought about it again, re read the website and the Century 21 in general, google searched for rookie agents, and when I was convinced it wasn't a scam called for an appointment.
The office felt like home, the assistant broker was very warm and friendly. The location easy to get to. You all are going to think I'm crazy, but the office is 45 min away from my home. I chose this. I live in a local where the average house is 500k to 20 million (though dropping down in price) Luxury homes abound, beach front property enviable. There is no century 21 or Remax here. There is prudential, coldwell banker, and some independents. The sales agents out here are cut throat, they will even cut the throat of their fellow agents in their own office. They are totally snooty. Well maybe not so much now since they're all crying that no one is buying or renting, and there are foreclosures on the MCMansions that went up like weeds. They're even suing each other. Their silver spoon is tarnished. Everyone who bought or rented here lost their high paying jobs in the recent economic downturn so no one wants to buy or even rent, if they're renting they're waiting til the last minute for deals. IF they are in the market to buy, they're probably waiting for a fire sale.
And I don't want any part of it. However I can take listings from this area. The office where I'm intending to park is in an everyday Joe neighborhood. The median home price ranges between 300k to maybe $900k. They are ranches, colonials, two stories, my fave is one I saw two level with a wrap around porch on both levels. Ok I guess the upper one is a balcony. But its lovely. I'm sure there are a few luxury homes dotting the area, but not streets full of them. And most of the sales agents out here drive jags, mercedes, lexus, range rovers etc. The office where I'm going, Kia, Hyandai(sp) Mitsubishi, Ford etc. Anyway this office I feel is good place to learn and get the hang of it. Ok so you reminded me about the ominous fees. What is the upside?
While looking for jobs I kept seeing this ad for new realeastate agents at a Century 21 brokerage. I ignored it at first, but every week I would see this ad and wonder why, in this economic down turn, would a realestate broker, well many Century 21 brokers in different towns--would recruit new agents, and is there something I'm missing.
That is a good question. Why are so many Century 21 brokers in different towns recruiting new agents even in this 'economic downturn'?
Here are some possibilities:
1) Century 21 is growing like crazy! Even in down times they continue to sell real estate at such a fantastic rate they can't find agents fast enough to keep up with their pace of growth!
2) Century 21 is a really bad brokerage. Attrition is so severe that they are forced to advertise in order to try and fill seats faster than they are emptying.
3) In tough economic times Century 21 has discovered a new profit center in recruiting new agents and selling them education and office supplies.
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It jumped at me and I had an interview that went well, signed some paper, she would sponsor me so I'm taking the course. Apparently median homes are selling in my area.
I took their online tests, that indicated that I was right for the job before even calling. I took it three times.
Only one question that remains, then I suppose. Why did the firm that owns C-21, CB, ERA, Sotheby's, & Better Homes & Gardens have an 800,000,000 loss in 2008 and with the accounting loss totalling 1.9 Billion, there has to be a reason.
RE/MAX is not for everyone! Note I said, "some day you will want to consider..." It is extremely hard to break into the business, and unless the particular RE/MAX broker is very strong in training newbies, then flying a balloon may be a bit too much to start.
In time, you will want to join RE/MAX. Just avoid the hype. Muhammad Ali, the boxer never had to use hype, nor does RE/MAX. Nothing fancy, just plane ol' solid professional agent support.
Never, ever allow yourself to fully trust what a competitor says or a recruiter either for that matter. "Trust, but verify"
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Originally Posted by tomocox
Only one question that remains, then I suppose. Why did the firm that owns C-21, CB, ERA, Sotheby's, & Better Homes & Gardens have an 800,000,000 loss in 2008 and with the accounting loss totalling 1.9 Billion, there has to be a reason.
RE/MAX is not for everyone! Note I said, "some day you will want to consider..." It is extremely hard to break into the business, and unless the particular RE/MAX broker is very strong in training newbies, then flying a balloon may be a bit too much to start.
Tom, JMO but possibly try taking your own advice? If you noticed in my post I encourged the OP to check out various systems, including yours, to see which one was a better fit for 'him'. Seems like all I'm reading here is slamming a competitor to promote your system, which if you noticed no one else has done. All I said previously was that when I was being recruited, C21 was a better fit for me and that I, personally, was turned off by the RE/MAX hype; but me personally, not everyone.
I even repped you in the past for how you indicated you were going to run your RE/MAX office 'based on ethics', etc. I, as well as others, simply encouraged the OP to check all of his options - whether a major franchise or an independent. Like one poster said either here or on another tread, the smaller independent brokerages in his area are doing better than either of the systems we're affiliated with. So let's all try to stay professional and let the OP make the decision that's right for him.
Tom, JMO but possibly try taking your own advice? If you noticed in my post I encourged the OP to check out various systems, including yours, to see which one was a better fit for 'him'. Seems like all I'm reading here is slamming a competitor to promote your system, which if you noticed no one else has done. All I said previously was that when I was being recruited, C21 was a better fit for me and that I, personally, was turned off by the RE/MAX hype; but me personally, not everyone.
I even repped you in the past for how you indicated you were going to run your RE/MAX office 'based on ethics', etc. I, as well as others, simply encouraged the OP to check all of his options - whether a major franchise or an independent. Like one poster said either here or on another tread, the smaller independent brokerages in his area are doing better than either of the systems we're affiliated with. So let's all try to stay professional and let the OP make the decision that's right for him.
I am sorry that I seem to have misread your intention. Thanks for the previous rep...
I seem to have caused an industry squabble. Upon further investigation in the classifieds, I have discovered other real estate brokers recruiting for new agents Not just Century 21. No Remax though yet. There are many century 21 offices, independents or not just saying who they are associated with.
In regards to what company to go with....I'm 2.5 years into my real estate career and I've found on the internet people seem to put down the companies they don't work with and think their company is the best. My company get's a bad rap (on the internet) I've noticed and it's been #2 in closed sales for the last several years in my area and has the best training. Most of what is said about the company is untrue and exaggerated. I think it really depends on what area you're in and what BIC you have. IMO, starting out, I would go for who offers the most support and the most training. Good luck.
I seem to have caused an industry squabble. Upon further investigation in the classifieds, I have discovered other real estate brokers recruiting for new agents Not just Century 21. No Remax though yet. There are many century 21 offices, independents or not just saying who they are associated with.
Ken, no worries, no industry squabble but rather I think a simple misunderstanding. When we're all scanning long posts, it's easy to misunderstand what another poster posts. Everyone on this thread wishes you the best of luck in your future endeavors - you seem like a real go getter, have done a ton of research and don't have false expectations for 'immediate gratification'. I'm willing to bet you're going to be a wonderful, hard working agent for your clients.
You will be self-employed - you must generate your own business. I don't buy into "selling systems". I'm not interested in any type of franchise- it's just not my thing. I think the best rule of thumb is that you will need to have living expenses in the bank to cover yourself for 2-3 years. Understand, I'm not saying you won't sell something within a couple of years. In fact you better sell something!! But you may not make much of a "living" for some time. Even with commissions (less expenses) your income will be very unsteady for the first few years so you should have your basic bills covered.
It's a fun business - but it's self employment - no two ways about it!!
Best wishes.
I was in this business for 3 years earlier in the decade & I never found many pros, just cons. Here are the big cons:
- Price of getting started = extremely expensive. I had to invest over $3,000 on supplies, Supra Key, business cards, NAR memberhsip fees, etc., etc.
- On top of the steep startup costs, I didn't sell a single thing until I had been working in my office for 11 months, but after my first, I got on a roll and sold pretty steady for the remainder of my time.
- Don't count on working 40 hours a week. Sometimes I was working 80-100 hours a week. Be ready to work nights, weekends, and holidays. Odd hours are not unusual either. One closing I had ended at about 1:30am.
- Oversaturation. I'm not sure how many realtors are in your area, but at one point in the boom here, it was estimated that almost 1 out of 6 people age 18 and above here had a real estate license. There were some offices that had over 100 agents! In those big offices, the top 4 or 5 were the only ones that really made anything. Everyone else fought for table scraps, and turnover was insanely high. A girl in my RE class worked for an office like that. I joined a small office, there was 1 broker and 3 agents including myself working in an office in a county that has a population of 500,000. There was just enough business to go around between us. I don't care how large the market is, no office really needs more than maybe a dozen agents.
Anyway, the hours, not having a life & not having steady pay got to me, and I was eager to go back to corporate America as crazy as that sounds. At least now I get a guaranteed paycheck every 2 weeks, and employer provided health insurance. I'm not trying to discourage you or anyone else, just trying to give you some cold hard facts. Only 5% of agents make a good living, while the other 95% struggle to get by.
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