I just passed my exam and I'm looking for a brokerage.
I'm an investor myself and I'm really looking to work somewhere that will allow me to focus on selling bank owned properties, foreclosures, short sales etc as I would like to sell those to other investors in the NYC area or perhaps purchase some myself should the right one come up.
Are there specific Brokerage companies I should look for that specialize in this or can this be done with any brokerage?
I also need to be flexible as this will not be my 9-5 at this point in time.
Any advice would be greatly appreciated
@Remo F. Congratulations on getting your license! Being from the Chicago western suburbs, I am not specifically in your market, I will say that I have enjoyed working with a "100%" brokerage. My brokerage charges a desk fee and a small transaction fee when I close, but I keep the lion's share of the commission. In addition, I don't have any sales meetings to go to, and I have complete flexibility as to how I run my business.
The down side to this model is you have to seek out your own training. I personally was able to figure everything out on my own, but you won't have anyone to hold your hand in the beginning. If you want more guidance, the big brokerage companies offer that of course.
Just fyi, getting into selling bank owned properties is not for the faint of heart. I looked into that, and decided it was not for me.
Best of luck to you!
Thank you for this information, much appreciated
I am a fairly new agent, just under a year. I did a ton of research before choosing a brokerage. After running the numbers (splits/fees/etc) and interviewing the 7 major players in my market I ended up going with Keller Williams. The tipping point with KW vs other brokers flipped at roughly $3m in sales per year when your fees are capped. Their support systems and training programs are incredible. I felt like they provided a lot of value for their split. Other brokers provided some value but didn’t cap while others gave 100% but didn’t provide much value... how could they? It’s usually better to get 80% of a large number than 100% of a small number.
That being said, the local leadership at each office is key. Go interview with your largest local KW, Remax, Coldwell Banker, Century 21, and any large (1000+ agent) regional brokerages. You will know the right place when you talk to them. It will feel right. No pressure but If you want to have a KW team Leader reach out to you I would love to make a introduction.
Hey Remo, congratulations on getting your license. It depends on what you're trying to do and how fast, also your knowledge of real estate already. Do you need a lot of guidance? What I would recommend is interview with a few brokerage in your area or the areas you'd like to work in since each firm offers different fees, splits, and trainings. I started with a company Citi-Habitats in Manhattan while I had a full time job(wasn't the best move). They gave me a deadline to hit 6 deals I believe 3 month, someone correct me if I'm wrong. I didn't make the cut but I seen others do it in a shorter time so it's possible. Being basis, Keller Williams is pretty good with their trainings and classes. People go to Charles Ruthenburg for the %95 commission spilt. There's many firms Remo, like I said, interview a few and know what you what to do. Good luck. If you have any questions feel free to ask me