Realtor · Tampa, FL · Member since 2021 · 18 posts · 15 votes
I recently completed my FL real estate associate exam. The main reason I decided to take this step was to advance my knowledge and be more involved in real estate investing. I currently own a commercial medical building and have owned some residential properties before. I have now decided to focus on multifamily properties. Given that, I would like to join a brokerage where I can be focused on multifamily properties for investing myself and possibly sometime in the future help other investors.
I would love any advice you may have in how to pick the right brokerage?
Real Estate Agent · Commerce CIty, CO · Member since 2018 · 127 posts · 78 votes
5y
The problem you may face is that the brokerage you join may not be willing to let you pocket as much of the commission as you are hoping for. Generally they start you with a 50/50 split but then also want you to have a co-agent to guide you through the first couple of properties (even if they are for yourself). I would format a list of questions regarding this exact topic and raise them during the interview process. I left one brokerage because they wanted 75% of my commission on a condo that I owned and wanted to sell. My next broker was much more generous, took a flat fee of $1500 on the sale then I saved $30,000 more representing myself in purchases. Don't be surprised if brokerages aren't thrilled about you wanting to buy property for yourself. Let us know how it goes.