Which Brokerage to Choose as an Investor-Agent
Hello BP family!
My name is Val Lemoine. I have been a RE investor for a little over two years. I also own two Firehouse Subs.
In 2015 alone I referred 14 listings to agents, sellers that were motivated enough to sell, but not motivated enough to where it made sense for me to buy as an investor. So I decided to capitalize on that by becoming an agent. I can now either get paid for referrals or choose to keep listings for myself as well.
I spoke to several brokers and had ultimately decided with Keller Williams Cityside. Their office is two minutes from my house in Smyrna and I have a great relationship with the team leader Ceci. Ceci has even agreed to personally mentor me for the first year to ensure I "cap out".
Keller Williams has a great reputation in Atlanta. Not having signed anything yet, I am already getting a taste of "the big firm" environment which is not necessarily a bad thing; but I think that being an investor first and foremost my scenario is a little more unique.
I know that I have to disclose my personal transactions (or my entities') prior to making offers. Never having had to do that before I'm sure the investors out there appreciate that that does not make me feel very comfortable. I understand that disclosure will have to take place in any brokerage but I wonder if a smaller, maybe more investor friendly setting would be a better fit.
On the other hand, being a KW agent would build instant credibility with sellers. Plus, I believe that I would benefit greatly from Ceci's mentorship. Also, I would probably get the best education there, at least in the beginning.
I have not told KW 'no' yet, but I did tell them I was speaking to other brokerages as well. I have two listings to sign when I choose where to hang my hat. So, enventhough I want to make a well thought out decision, I don't have all the time in the world either.
I know that I am not the first investor-agent to come across this dilemma. I would love to hear what my fellow BPers have to say on the matter.
Thank you very much in advance for sharing your feedback and wisdom.
Val