Looking for a broker in Brooklyn, Manhattan that doesn't charge technology fees.

[Konkova Irina]

Hi Everyone,

I've just passed NY State license exam and looking to start working as a real estate agent. Need to find a broker so I can apply for a license and work thereafter with that broker.
Originally, I got the license for my own deals but figured I can also do deals for my coworkers. So I am planning to work part time, its possible I make no deals some years. 

I spoke with some big brokers and was put off by monthly technology fees. Those might be useful for full time agents, but it seemed like an unnecessary expense for me.  I also don't really care for the big kahuna name broker. I do care about the reasonable split, since I don't expect to bother my broker much except when I bring the check. 

Does anyone know a good broker that might be a good fit here?

Thank you very much BP community! 

[Abel Curiel]

Good morning @Konkova Irina,

Most brokers, especially those with splits that are favorable to the agent (i.e. 90/10, 100%, etc) have monthly desk or tech fees ranging from $80-300/month.

My first brokerage in the business was a very small family-owned brokerage with 4 total agents and no monthly fee. Just a 70/30 split. Finding a local boutique/family-owned brokerage might be your best bet.

My second brokerage, Keller Williams, did not have a monthly fee but did have a higher split to the company+ a coaching fee which brought the split to about 60/40 for the first couple of transactions.

Wishing you all the best on your search!

Abel

[Marian Huish]

Congratulations on passing your exam @Konkova Irina! I'm in the process of helping another newly-licensed agent in Manhattan join eXp Realty. Our monthly fees are low, $85, but you can also make much more than that through stock awards and monthly revenue share offered by the brokerage. The eXp Realty brokerage model is designed to enable the individual agent (or team) to run their own business as they see fit and provides all the technology and resources available so that they can do so, without interference from the broker, so long as the agent complies with state laws and the Realtor Code of Ethics. All agents start at an 80/20 split with a $16K cap, however, as a newly-licensed agent, you would be assigned a Mentor and would be at a 60/20 split for your first 3 transactions (subject to Broker discretion), or you could join a team. You'll of course also be required to join a local/state Association and NAR. And, as an investor, eXp allows 3 personal transactions a year at 100% commission (unless that agent is working with a Mentor). The model is perfect for an investor who wants to brand themselves and have flexibility with how they run their business. Happy to provide more info- all the best.

[Konkova Irina]

Thanks guys! 
Thank you for your offer Marian. Unfortunately, $85 per month fee seem unnecessary overhead for part time agent that is not looking for any extra training.
It does sound like I need a small broker where I would only pay MLS and board.

Thanks again!

[Cameron Andrews]

Hi @Konkova Irina did you end up finding a sponsoring broker that met your needs of low/no monthly technology fees?

I am interested to know, as I might be in a similar situation soon.

Thanks!

[Rachel Fiegler]

Hi @Konkova Irina, I own a boutique brokerage in Manhattan. We don’t charge fees. We’re small but growing and always looking for like-minded people to add to the team. DM me if you’re interested in learning more about us. 

[Colin Higgins]

Quote from @Konkova Irina:

Hi Everyone,

I've just passed NY State license exam and looking to start working as a real estate agent. Need to find a broker so I can apply for a license and work thereafter with that broker.
Originally, I got the license for my own deals but figured I can also do deals for my coworkers. So I am planning to work part time, its possible I make no deals some years. 

I spoke with some big brokers and was put off by monthly technology fees. Those might be useful for full time agents, but it seemed like an unnecessary expense for me.  I also don't really care for the big kahuna name broker. I do care about the reasonable split, since I don't expect to bother my broker much except when I bring the check. 

Does anyone know a good broker that might be a good fit here?

Thank you very much BP community! 

 Real is a Cloud Based broker with no monthly fees, worth checking out!

[Marian Huish]

Just checking in @Konkova Irina to see if you've affiliated with a brokerage yet?  Curious who you went with as you were expecting to do minimal sales and didn't expect to use any of the brokerage tech or training?