BiggerPockets

Hi BP

I'm on my last week of class.
Was told to interview asap before exam bc process is not exam then brokerage.
Told to get my criminal chk NOW.

My investors flip, aka probono work with no license, is ready in late march

time crunch......

Never did Sale, marketing is my weakness.

Question: should I sell as agent or hire at this point

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Interview: I'm more confused then when I came in.

They are big name brands:

#1
high split,
monthly fee 104-550/mo(65%-90% split)
plus 125 processing and 350 broker commission for each closing all sides

Monthly fee gives same benefit only diff is split. And graduating commission Max.

I am allowed waive my commission on my properties.
I can compensate another agent if they open house for me. My terms/choice
I can be either residential and/or commercial
A lot of investor

But I don't see their sign in my farming area

#2
I start at 60% bc of my investor experience not 50%

$800+ initial cost to get in..including licensing
No desk fee, monthly cost MLS, key, etc (I'll post when I receive email)
Already just took in 9 new agents.

I'm allow 2 own property sale/buy @ 80% commission a yr
I can't compensate other agent for open house.
I can't waive commission on my own property. I get 80%
I can't be commercial unless I'm certified. It's separate

Cheaper but less flexibility.
I don't see much of their sign in my farm area
But use their website unknowingly a lot.

This one feels like churning agents. And her market analysis are too optimistic.
She is telling me I should list my property @ 255k while others 235k

I have 3 more lined up
all big name one huge local

1 recommended by instructor as investor
1 my broker works in And I'm taking classes in
1 the agency I bought last 2 deals on. Signs all over my farm

That latter, access for my own deals.

My investors are flexible in their needs its up to me really.

I own 2 commercial (mom pop) rental and 1 residential.

My knowledge is residential just fell into commercial.
But would love opportunity to learn about commercial.

thank you for that heads up, didn't think about the competing broker

#3
I spend 1/2 hour in the presentation and didn't get much out if it (pitch).
I need to schedule a 2nd mtg for get the number.
because we ran out of time (bef my class)

but from my questions:
tiered commission (earn X amount and come up in split)
1 yr and/or $12,000 bef 90% on my own Property (?? quickly explained)
"similar" monthly fee

Thanks. Karen great points.

They all have training, 2 of the 3 seems to have great knowledgeable broker.
The office atmosphere seems to differ by night a day.
I've got 2 more brokerage to interview.

So far I've met with 2 extremely opposite business philosophy.
Super professional vs mother goose/den mother/very casual
#3 is somewhere in between.

I'm very confused right now.

Thx you karen

I think I found the brokerage. U r so right its not the $$$
It's the fit... and the broker is so knowledgeable and willing to teach.

Thank you

I think this one fits the bill on all the things u mention.
thanks again! U font know it but u are changing lives.
Thanks karen
Can't @ on phone

Sorry I got my numbering wrong:

but here i quick break down:

annual cost is under $2000 across the board
includes the key, mls, NAR, ads, printing, card etc.

#1 : Experienced Investor
has HIGH splits if you pay for them in monthly membership fee
It's great for seasoned investor/realtor (which is not me just yet)
I get to control my own property transactions and pay transaction fee
Education but not hold you hand kind...
super professional
Knowledgeable broker, willing to help me

#2 : Agent Churning Machine
No desk fee, has normal monthly/yearly cost
Gradual commission increase, earn X get X%
80% commission on mine 2xs a yr.
Education
Casual, unprofessional, den mother feeling with all her cubscouts.
She didn't seem to have a grasp on the market.
Just hired 9 agents. office feels chaotic.

#3 ONE my broker is in...INTERESTED
No desk fee, monthly/yearly cost
gradual commission rate (more reasonable then #2)
90% of commission when I sell, 100% buy (2xs yr) but I have to earn 12000.
Great education program
Very helpful and knowledgeable broker
Professional colleage unlike #2

#4 LOCAL BIG BRAND.. the one I thought was best fit.
They pay for everything, I pay 250-500/yr
commission is 50/50 cobroke, 30/30/30 in-house, 100% mine
lots of benefits
Very nice motherly knowledgeable broker.
They have a lot of incentives but not for me as investor

#5... Will be tomorrow but it's similar to #1 I think

I agree, I picked #3, although it's split is not the best, but they have the best tool to help me move forward with my business.

I am essentially going to be totaly new at sales, and need all the help I can get, but also need be able to be an investor.

and my broker and I need to be on the same page on our strategies ;p