Best company to get License with?

39 Replies

Hi all,

I am considering getting my real estate license and would like to get recommendations of companies to do it through? If anyone has any, please share:) Thank you!

You need to define your goals and motivation for getting licensed.do you want but and sell for yourself or investors.do you want to sell homes retail ,lease apartmens or home's.what do you see your role in real estate,full time part time etc Once your can define your role then you can think about a company to work for

Initially my motivation to get it was to be able to use it for my personal use. Be able to have unlimited access to the MLS and cut cost. However, I put more thought into it and I would like to work to buy/sell retail. I think I would like it! I wouldn't mind serving/working with investors either. I may appeal to them more since I'm an investor myself!
Although I was originally in it for myself, I would like to explore it as a possible 'career' or job opportunity. I have one more year of college (graduate December 2017) so I probably would only do it part time until then! Then decide once graduation comes if I'd like to continue to pursue it full time or go into my field of study. I am very passionate about real estate and love it! My goal is ultimately to become a full time investor (flipping houses and rentals) However, I know some people suggest keeping your 9-5 bc it's easier to obtain loans that way. So why not make my 9-5 doing RE and become an agent? Steven Picker

@Angelica Osusky I'd suggest Keller Williams as they are a training company that does real estate.  since squiring my license they have suggested countless free training which has proved useful.  There are also  some paid training for advanced strategy.  Due your diligence as any brokerage is in the business to make money.

I highly recommend you check out eXp Realty, as we have a value proposition no other broker can match.   Our tagline is "The Agent-Owned Cloud Brokerage®".   We offer generous stock grants and revenue sharing based on production and attracting other agents.   Our cloud-based platform delivers 15-20 hrs./week of great training on a wide variety of topics, and since nearly all agents are owners (you get stock granted after your first closing), everyone is extremely helpful.    Let me know if you'd like to learn more about us.    Our ticker symbol is EXPI - stock has been on fire this year!

Angelica,

This is from personal experience because I'am not too far removed from where you are. A few months ago I was making the same decisions you were. For starters decide if you would like to do residential or Commercial RE. If you believe most of your portfolio will be single and small multi-family housing then stick with residential. If you have aspirations of buying apartments, storefronts, warehousing down the road then by all means go commercial its very important to form relationships to find deals. Now think about immediate profit, from an earnings standpoint residential will give you more clients to make money with better commission splits. Commercial will be a bit tougher to begin with with more ppl in your pockets. Sometimes you'll have commissions split down into 1/4 of what you thought you could get once all your referrals are taken care of. Please account your time as well, buyers consume a lot of your time and most times they won't even put an offer down on something after hours of showings or consultations. It can be quite frustrating. Lastly, make sure the brokerage you work for does not have extra fee's that waste your money like "office or desk fee's" them taking a 70/30 or 60/40 split on your deals is enough. Big mistake I've make. 

By all means get your license and use it primarily for your deals and benefits. Work with buyers who are pre approved and are sure they are ready to move and life will be much better especially since you still have some school left. Lastly, please have a full time salaried job it will help you with the loan process because it will be impossible to get one out of school with only a commission based job, trust me.

Wish you the best of luck,

-Tyler 

The name of the company has never gotten me a deal. I have hung my license at both small and large brokerages and I have decided to go with a local brokerage that does have a good name but only charges a 90/10 split, $40/month $6k cap out of pocket. There is no reason to give away $25k with a 60/40 split in my opinion. If you need training, which you will, start networking, go to meet ups and find a mentor.

@Shawn Ackerman Thank you for your suggestion. I think training is so important! There are so many companies who provide little to no training therefore never setting their employees up for success right from the beginning. I am not specifically referring to real estate either, I am talking about all types of businesses. From the food industry to healthcare, construction, the list goes on and on. Good training is something I am looking for. Thanks again!

@Chris Soignier Very interesting, I am going to definitely check them out. Did you use them to obtain your license? Do you (still) work for them?

I've been in enough Keller Williams training classes to be able to recommend them if you're wanting to take business / real estate to the next level. I have learned a ton and I'm not even a realtor myself. If you sell a certain amount with Keller Williams they stop taking commission on your sales so if you become a high level producer you start being able to keep a higher percentage of your overall commissions every time you sell more.

If all you want is to be able to buy / sell real estate and save on commissions then you probably want to find a brokerage that has a flat fee per closing as a brokerage fee instead of a %. I have seen many brokerages that charge 200-500 dollars a closing. This is especially valuable in a higher price point market. Doesn't mean it won't work in a low or mid price point market you just get the maximum value in a high price point market.

Good luck! :)

If you're only gonna use it for yourself ask around town which brokers charge the least commission and do the math!

Originally posted by @Angelica Osusky :

@Chris Soignier Very interesting, I am going to definitely check them out. Did you use them to obtain your license? Do you (still) work for them?

 In Texas, you don't use a broker to obtain your license, just to be able to practice.    Yes, I'm still with them and don't intend to ever leave them.   Nobody else can come close to matching our value proposition, even if they wanted to.

@Neil Huck Thank you for your knowledge. You are totally right no need to dish out extra money. I will definitely take this into consideration when I am looking for a company to work with. Thank you!

@Tyler Brown-Lewis Thank you for the elaborate response. I appreciate it! I would like to do residential. Did you know about these fees upfront before working with the brokerage or were these sort of hidden fees that were unexpected? Thanks for the advice about the commission based vs salary in aspects to obtaining a loan, did really think about that.

@Gonz Trevino Thank you for your insight. That is pretty cool that they do that. The advice on the flat fee vs % is very useful. I totally see how it would be to my advantage. I guess there aren't many brokerages that do flat fees.. guess I'll have to look around if I want to go that route! Thanks again!

Originally posted by @Angelica Osusky :

Hey Angelica! There are many in Texas. You can always consider moving to this state and selling real estate here. The market is INSANE!

Check this out:

http://ijr.com/2015/01/239402-believe-one-state-so...

Time to get on the Texas train! San Antonio has an amazing economy and is still relatively inexpensive. Houston has the backing of oil and gas industries. Dallas is just... an economic powerhouse. Austin is the fastest growing city in the US and is becoming a tech superpower. There are many phenomenal areas around here if you're not married to the idea of Illinois. :)


Good luck! 

@Neil Huck -- Love the advice. Everyone has been saying "get training"! But, honestly the best people are my friends doing RE things. And, the many books I've read over time. And, my own experience. In CA you must start as an agent, which is quite the drag.

How do you handle referrals? I have a gut feeling most of the folks I speak with will be looking in other areas as well as we San Francisco people tend to live / purchase all over NorCal and some out of state. 

@Gonz Trevino Does KW offer extensive online classes? I have a full time gig so can't attend their day training, which is a bit sad. Thanks in advance!

Originally posted by @Alice K. :

@Gonz Trevino 

Yes I believe they do some online training as well. Also I asked one of their higher ups and they told me they have a ton of resources on their website. When you become an agent they give you an account to log in and there is a giant database of training videos from top producers who have sold 100, 200 or sometimes over 500 homes in a year.


Hope that helps!

Thanks Gonz!
I spoke with several boutique brokerages and agents in town, and it seems KW works well in the suburban markets and rocking Texas but not very strong in SF proper.
It doesn't really surprise me due to the price points and our market. Most listings are handled by a variety of boutiques and a few teams with big brands.
Their team leaders seem very friendly though and my other agent friend 50 miles away loves them.

Originally posted by @Alice K. :

Thanks Gonz!

it really depends on your goals... because the KW system is the same almost everywhere. Somewhere around the 2-3 million mark in sales you hit a cap and they no longer charge you commissions for the rest of the year. Also their training is superb. 

Good luck!

@Gonz Trevino
Thanks for the info I have been following and learning a little. I live in Austin, TX. I take me exam on Nov 5th so I will be licensed very soon. Is there anyway I could be of any assistance to you while I learn this wonderful business?! I'm willing to travel and work for free I just want to learn everything I can before I'm licensed and start my real estate career. I'm leaning towards KW also. I meet a broker there who spoke my language! Thanks in advance have a great day guys.

@Angelica Osusky I opted for a broker who charges a fixed monthly fee which is actually very reasonable. We also have live training webinars for all new agents and the broker is very accessible for any questions licensees might have. Very happy with my choice.

I don't know if anyone mentioned this so I will... Training at Keller Williams is great, much of it is free AND, you don't have to be with Keller Williams to attend.   It's late November so they should have already held their "Business Planning for 2017" but if they are holding another one, I'd recommend it for all agents (and investors actually).

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