I just passed the state exam to be a real estate agent. I am asking agents to fill me in on their experiences with the different brokers that are out there. Which one to hang license with as an investor and not a full time salesman? Training recieved? Compensation and fee arrangements? Etc?
Once i find this broker of choice, I will be interested in helping other investors who do not have access to the MLS.
Congrats @David Taylor on passing the exam - great accomplishment!
I interviewed with many brokerages before I found the ones that were a very good fit for me. Personally I looked for a few things:
- Good management style that appreciates the work you will be doing.
- A broker that I could leverage their information and expertise in the market I am looking to invest in.
- A commission arrangement that satisfied my needs.
- Minimal upfront fees (excluding MLS fees, board fees, etc) because - similar to you - I was looking to use my license primarily to invest, and not for the things that other typical agents might want from their broker.
Also, there are some brokerages that I found to be rather dishonest and while it's unfortunate you should keep an eye out for these. You can speak to references like other agents that work there, and other brokers/agents in the neighborhood.
Keep us posted on your results, and congrats again!
congratulations on passing the exam.
I'd recommend setting up some time to talk with a few brokers local to you.
Ones close to your house or your targeted area.
See what they offer. I think you will find most brokeragaes will not have an issue with you starting off part time.
Responsabile brokers that care aobut the salesman should encourage you too have another form of employment when starting out.
Really... it doesn't matter which broker you go with (unless, of course, a certain broker has a bad rap in your area... then you'll want to stay away)... you're just hanging your license there. This is YOUR business, so be sure to treat it like a business.
Don't count on your broker doing all the marketing, getting leads, etc. YOU want to create your own systems for marketing and getting leads.
Best of luck!
Thanks for the advice. I've been getting out there and working some contacts. I should be up and running soon.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.