Who are the major players in your market? Here in KC it's Keller Williams and Reece and Nichols. I would meet with the team leaders / supervising broker and walk through your goals / dreams with them. Take the time to really understand the fee / commission structure and determine who would be the best fit for you!
I know because I am doing that now... I plan on picking my Brokerage Tuesday after a follow up meeting.
If you want to work with investors, look to see who has the most REO and foreclosures in your area. That would be a great place to work since many investors are looking for those types of properties.
I've been with 6 different brokers over the last 3 years of having my license. And I have interviewed with more brokers than I can count. But now, I feel like I have finally found the right one that fits with my goals.
In the majority of cases, you are the one interviewing the broker not the other way around. Most brokers want as many agents as they can get because we pay them monthly fees, and they make money off our production. So the more agents they have, the more money they make.
When it comes to choosing the right broker for you, I would make the decision based on your investing goals, your goals as an agent, and your current budget.
If you are are looking to do buy & holds and not wholesale, it should give you more options, as some broker don't like the wholesaling model of business. Just make sure that you always disclose that you are an agent when you buy/ sell your own properties, and make sure that all your security deposits from your rentals are placed in the brokers escrow account. We are not allowed to hold and manage our own deposits from our rentals as agents, unless consented buyout broker.
Different brokers offer different levels of support, technology, training, fees, structure and leniency.
Here are some questions for you to answer so that you can narrow down the best route for you currently. Depending on the answers to the following questions I would recommend certain brokers over others.
-Do you plan on being an active agent and need lots of training?
-Do you plan on being an active agent and want high commissions and training is less important?
-Do you just want somewhere to hang your license while you focus on investing.
-Do you like using the best technology and systems, if so what type of budget are you willing to spend monthly to have access to those things?
-Are you looking for a brokerage that allows you to build your own team of agents so that you can share the profits?
-Would you rather pay high monthly fees, or split a big chunk of every commission with the broker?
-Do you like to do, and have a nice budget for marketing? Or would you rather the broker provide leads?
-Prefer office environment, or work-at-home cloud based?
I hope that helps. Inbox me and I would love to help you on your broker hunt.
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