Advice on finding a Broker to hang my hat with

6 Replies

Hello - I have signed up for me RE agents courses and exam. I have no plans to be a career agent; however, I work with a partner and we do property management and invest in rentals and I will likely have a decent pipeline of 1031 exchanges and investor purchases.

In CO you have to work under an employing broker for 2 years before you can work independently. How do I go about finding and employing broker who doesn't mind that I don't plan to be a career agent? Should I start applying before I take my test?

Thank you!

Medium sps logohr rgb trans back 2016Sabrina Calnan, Select Property Services | [email protected] | 720.352.0373 | http://www.selectyourservices.com | CO Agent # FA000053094

Here's the trick - sign up with whomever you want and like, because you are apt to be paying them. At least, that was my experience going through the same process. The brokerage agency gets a cut of your commissions and you may well have to pay them a 'desk fee' or similar for facilities and to pay for errors and omissions insurance. They won't pay you to start out.

I suggest you call several and try to set up informational interviews. If you present yourself thoughtfully, most people will give you 20 minutes, especially if you could produce income for them later on. Figure out what sounds best for you. They will take you more seriously if you wait until after you have passed your classes and exams and received your license.

Good luck with the pipeline!

Most brokers won't ask you or really interview you. They do want you to work full time. I'd go with Keller Williams to start because they have some pretty decent training they put you through. Then you can either stay or move to a more Investor-oriented company.

If you do not plan on being a career agent, go with a small broker with minimal fees.  You will find that the majority of big companies all have big monthly fees.  I personally hang my license with an individual broker that operates out of his home and my fees are extremely low. 

@Sabrina Calnan

Go to several local REIA club meetings ask the investors who are lic. where they hang and why.

Paul

craigslist. Search for 100% commissions. Mine charges me a 150$ annual fee and $74 per transaction. No training. No hand holding. No expectations. If you want training it will cost you 30-40% of the commissions you have earn. If you can fill out the sales contract you don't need training.