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KW has many many new and part time agents. RE/MAX has mostly producing agents. When you look at sides per agent and total transactions closed RE/MAX blows the doors off KW. KW has IMO a hokie cult like feel, RE/MAX is business.
I'd agree with that. If you can fog a mirror you get to join KW and the other 300 agents in the office that should only have 60 agents.
Many of the experienced agents that bought into the KW model 10 years ago have moved on.
Eveyday I thank my lucky stars! I pay no desk fees, no IT fees, no monthly rent, etc. I can't beat the deal with a stick! Truly, I consider myself very lucky!
I am currently in school to obtain my license. Would your opinion be for a new agent starting out to skip the "corporate office" feel and all the extra fees and training? It's hard enough starting out and not making money initially, to start getting slapped with fees and dues. BUT, without all the extra bells and whistles how hard is it to sell your first house?
I am starting my new career in Real Estate for the one reason, I DON'T want to be in a corporate environment anymore. Totally burnt out. But do need to know what I'm doing as well.
I am currently in school to obtain my license. Would your opinion be for a new agent starting out to skip the "corporate office" feel and all the extra fees and training? It's hard enough starting out and not making money initially, to start getting slapped with fees and dues. BUT, without all the extra bells and whistles how hard is it to sell your first house?
I am starting my new career in Real Estate for the one reason, I DON'T want to be in a corporate environment anymore. Totally burnt out. But do need to know what I'm doing as well.
Advice?
Only you know what feels right for you. Interview with small, medium and large Brokers, and even Teams in your market. Talk to other agents, and see what feels right for you based on the amount of support and guidance you want, whether you need leads fed to you or you're able to go generate your own, etc.
I've been in business for 5 years now, first with Long & Foster, then KW, then Fairfax Realty.
Why anyone does not get a brokers license and take 100% asap is beyond me.
First, hopping from place to place is not a good thing. 3 brokers in 5 years? You're unstable.
Second, in most states, you're not legally allowed to become a broker right away. In Texas, you must be a licensed agent for 4 years plus prove you've done so much volume of transactions to have enough experience to be allowed to be a broker. Texas doesn't allow just anyone to be a broker, though it seems like it many days. There are lots of rules to becoming a broker...
And even then, you're not getting 100%. You still have E&O and office expenses and membership expenses and hundreds if not thousands of dollars of other expenses throughout the year.
First, hopping from place to place is not a good thing. 3 brokers in 5 years? You're unstable.
Second, in most states, you're not legally allowed to become a broker right away. In Texas, you must be a licensed agent for 4 years plus prove you've done so much volume of transactions to have enough experience to be allowed to be a broker. Texas doesn't allow just anyone to be a broker, though it seems like it many days. There are lots of rules to becoming a broker...
And even then, you're not getting 100%. You still have E&O and office expenses and membership expenses and hundreds if not thousands of dollars of other expenses throughout the year.
No, hopping was the smartest thing I ever did, each time I went up the ladder.
I started at Long & Foster on a 50/50 graduated split plan. Then when I really started selling I went to a plan where I paid $1234 per month for 84.6%. Did that for a while, then went to KW on a better split with no fee, then to Fairfax Realty I paid $350 per transaction plus E&O and got 100%.
Now, in Virginia you can become a broker after 3 years in the business. You are not required to carry E&O and I don't, and you don't have to have an office, and I don't. It is way way smarter, it is ridiculously hard to make it in the business. I've crunched the numbers and I basically need to make $134,000 to pay all my expenses and taxes and make a little money. That doesn't even really count the expense of each listing which for me is $400-$600 per listing.
Does anyone have an opinion of Innovative Real Estate Group in Colorado? I am looking into them as a new agent and it seems good after reading a lot of this thread. You start out at a 60/40 split then go to a 70/30 after 25K GCI then 80/20 at 50K GCI and so on. They also give you four friends and family transactions a year with no split. There are no Office or training fees. I am looking for a place that provides some training as I am new that I am not shelling out thousands every month without production.
Ask to attend a class - then evaluate the class. Pre-license school is designed to pass the test, not prepare you for running a business.
In the meantime, read "The Millionaire Real Estate Agent" by Gary Keller.
Where in Colorado are you?
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