Rookie Real Estate Agent
I've recently gotten my real estate license. Planning to use my license to invest into real estate. This will be my first single family home rental. Just have some questions.
1. Where would be good brokerage to join? That can teach me and walk me through my first transition. I know that real Exp has a high commission split and low transaction fee, what are your thoughts on Real ExP?
2. When buying my first property , I know that the buying agent is owe a 3% split in Washington, will that be paid out to me or does it appied to the real estate price?
Thank you any feedback is much appreciated!!!
Most Popular Reply
1) I'd join a team that teaches and coaches. You may find that the brokerages with the high commission split don't offer as much by way of coaching and training but is more like hang your shingle here and good luck. The logic behind the statement is that with the higher split, the broker is not incented to invest much in you. With all that said, if you find someone you click with and they are willing to help, that's the right move. Don't just sign up with the first office you walk into. Once you feel comfortable on your own you can look to optimize the commissions.
2) Based on the contractual agreement the 3% will be paid to your broker and then whatever your cut is will be paid to you. As an alternative, you may be able to negotiate that your 3% is reduced against the purchase price, just check that is okay with your broker first.