Long time BP fan, first time posting. I recently just passed my real estate exam, and I wanted to reach out to all you magnificent experts in the community on which brokerage to join? I currently reside in South Bay Cali. I am also currently a rookie investor, I have one rental property in Las Vegas. My main goal as an agent would be to learn as much as possible about real estate and obtain mentors and teachers to help me on my real estate journey. I would love to also learn more as an investor and gain that beautiful financial independence I hear so much about through the BP podcasts. Your help would be most appreciated!
The entire brokerage model has changed considerably over the last five years or so.
It's not just the brokerage now, it can also be a team.
Maybe join an investor friendly team that can mentor you. I worked with an agent out of Nashville and he took on all of the investor leads from the team he was on. Now he branched off and is starting his own thing within the same brokerage.
Don't be fooled into the flat fee brokerages/low splits if they don't offer much. I know people who have joined those brokerages and have left because they weren't getting the support they wanted/needed.
@Rick Albert Sounds like you found a real winner down here in Music City!
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
3y
Join a brokerage that holds agents that directly correlate with your goals. There are entrepreneurial brokerages out there if you want to be the investor type.
How does one find an entrepreneurial brokerage, I also just received my license and I am really interested in investing and finding the right broker to guide me, how can I go about looking for these types of brokerages?
Congrats on passing your exam!!!! I'm with you and just passed mine last month, it's was not an easy task. I joined Keller Williams, and love it so far. Feel free to message me, I'm not sure how much I can disclose without "promoting" this business.
Investor · Boise, ID · Member since 2014 · 3k+ posts · 3k+ votes
3y
Congrats! Having a license definitely put my investing in to overdrive, I think it's a great way to get deep in to real estate in many ways.
The brokerage will have 0% to do with your success, it will be completely up to you. You need to decide how much support you need. Brokerages with more support and possibly lead gen will charge you more. Brokerages with less support and lead gen will charge you less.
Don't go thinking that there is a brokerage out there that will make the difference for you- if you aren't making magic happen in the first year, you need to re examine your approach.
All of that being said, it's not uncommon for newer agents to change brokerages a couple times while they find the right fit for their style, so do'nt sweat that too much. It's really easy to switch and no one takes it personally.
@Corby Goade Thank you for your response! It actually helped put me at ease when you mentioned that many agents change brokerages until they find the right one. I was stressing a bit because I felt pressure to choose 'the right one'. Appreciate your advice!
Real Estate Agent · Los Angeles, CA · Member since 2018 · 2k+ posts · 1k+ votes
3y
The entire brokerage model has changed considerably over the last five years or so.
It's not just the brokerage now, it can also be a team.
Maybe join an investor friendly team that can mentor you. I worked with an agent out of Nashville and he took on all of the investor leads from the team he was on. Now he branched off and is starting his own thing within the same brokerage.
Don't be fooled into the flat fee brokerages/low splits if they don't offer much. I know people who have joined those brokerages and have left because they weren't getting the support they wanted/needed.
Realtor · Burbank, CA · Member since 2019 · 81 posts · 62 votes
3y
Congratulations on passing your real estate exam, Amos! It's an exciting step towards starting your career in real estate. As you're looking for a brokerage to join, it's important to find one that aligns with your goals and offers opportunities for learning and mentorship.
Here are 2 things you can look for in a brokerage:
-Training and Education: Look for a brokerage that provides comprehensive training programs and continuing education opportunities. This will help you enhance your knowledge and skills in real estate.
-Reputation and Track Record: Research the reputation and track record of the brokerages you're considering. Look for their market presence, success stories of their agents, and any accolades they may have received.
But remember, your success all boils down to the effort you put in. Hope this helps :) Best of luck!!
The entire brokerage model has changed considerably over the last five years or so.
It's not just the brokerage now, it can also be a team.
Maybe join an investor friendly team that can mentor you. I worked with an agent out of Nashville and he took on all of the investor leads from the team he was on. Now he branched off and is starting his own thing within the same brokerage.
Don't be fooled into the flat fee brokerages/low splits if they don't offer much. I know people who have joined those brokerages and have left because they weren't getting the support they wanted/needed.
@Rick Albert Sounds like you found a real winner down here in Music City!
The entire brokerage model has changed considerably over the last five years or so.
It's not just the brokerage now, it can also be a team.
Maybe join an investor friendly team that can mentor you. I worked with an agent out of Nashville and he took on all of the investor leads from the team he was on. Now he branched off and is starting his own thing within the same brokerage.
Don't be fooled into the flat fee brokerages/low splits if they don't offer much. I know people who have joined those brokerages and have left because they weren't getting the support they wanted/needed.
If I had to start all over again... WORK TO LEARN before I WORK TO EARN!- now that said, I know you need to make income for your monthly needs-- but I would join a team, and make sure the fit is there and then work to get as many deals moving to get a solid deal flow going, and then then when you feel is right , head out on your own. Find a team that works with the clients you want to work with and with the products you want to sell, not just any team.
You will increase your deal Knowlege faster, have more regular income coming in, Work with more clients and systems that will only benefit your career. But it will come at the cost of a higher split / maybe more than you want to pay, but for new agents I ask , would you rather have 1 deal in the next 6 months that pays you say 30k but have no cash flow for that time or would you rather have 6-10 deals but make 5k per deal. If you can float it , building your own business is the way to go, but with each sale you will get more confident and you can always go on your own later. but learning systems, process, and having people to partner in on your goals would be the way to go. for sure. Go further , Faster with less effort.
There is not best brokerage. Just one that works for you. I've been at 3-4 brokerages and some may have better incentives but the people make your experience I've learned. Surround yourself with more active people and then you will do wonders.