Becoming a real estate agent in DC metro area?

Question

Hi everyone!

I am eager to get started in real estate and am thinking of becoming a real estate agent to gain knowledge and work for myself while I develop the investment side.   I currently have a 9 to 5 and wanted to get out of the corporate rat race.  What advice do you have for me as far as what I should expect and what kind of company I should be looking to work for?  Any insight or help would be greatly appreciated!

Sam Lin · Answer

Account Closed If a team is associated with a brokerage, they will have to advertise as such. For example, xyz team - L&F or KW or CB. So Google is your best friend.

There are also other small brokerage like Keri Shull Team that I've heard good things about, but it's best if you solidify a list of questions to ask and compile a good 4-5 brokerage of different sizes to interview. Thankfully it's not quite like a corporate job, because you can always jump to a different brokerage fairly easily.

Sam Lin · Answer

Account Closed Welcome Deborah! Piggy-backing on what Russell said, there are also sub teams within KW and L&F that you could consider - they often tackle transactions as a team so you can learn and have a team to lean on as a part-timer.

There are mid-size brokerage firms that do great training and offer compensation split somewhere between the KW/L&F and the flat-fee brokerage co. I'd definitely recommend checking out the training schedule to see if you can even make the classes during the day, or if they have training on weekends.

Russell Brazil · Answer

Account Closed Do you want your license to do actual residential sales, or do you want it merely for investing purposes? If you want to do residential sales I would suggest going with one of the big name brokerages as they will typically have pretty good training. If you want your license merely to invest, then maybe a small brokerage where you just pay a fee per transaction as opposed to having a commission split.

If you do want to do residential sales, of the big box shops there are 2 I think that are superior to the others. L&F and KW, each having very different philosophies.  KW is going to be more about building your own brand...while L&F is more about building their own brand and letting you piggy back off of that.  I prefer the latter which is why I am with them. Also with their dominant market position, if you are someone who is not great at marketing, I think it makes that side of things easier.  You may as a newer agent get a better commission split with KW, but in our area they have less brand power.  Both of these two companies though will have the best training available.

Feel free to shoot me an email if you want me to expound on the pluses or minuses of any particular brokerage, and if you want any other information on becoming an agent in our area.

Angelia Kinston · Answer

Welcome Account Closed  Let me know if I can help. I'm a Realtor and a wholesaler and looking for future partners.

Account Closed · Answer

Thank you everyone for your responses - it is greatly appreciated!  I still can't believe how helpful and responsive this community is! @Sam Lin - What is the best way to find a subteam within one of those brokerages?  I'm not sure where to start!

Ocie Gibson · Answer

i say go for it. If you want some help on the investing side look me up.

Shawn Mcenteer · Answer

Being a part time realtor is possible, most clients I have had work 9-5 and want to view properties on evenings and weekends.  If I were you I would spend a lot of time speaking with brokers to see what they offer to a part time realtor.  It would be wise to network with outher realtors as well.  Partnering with an established realtor may be a wise option if you can find it.  Also finding a broker that provides you with leads may work well for you, the broker will take a large cut but you reduce the time spent finding leads. Be patient and understand it is a process for a full time new agent so things may be slow at first being part time.  Gary Keller's Millionaire Real Estate Agent paints a good picture of what it takes to make it big as an agent  (if that is what you end game is).