I just passed my real estate exam here in Washington State and now in the process of finding a brokerage to hang my license with. The main reason for getting a license is for investing (mainly flipping). I'm new to all of this so I'm looking for a brokerage in Western Washington (Lynnwood-Seattle area) that is investor-friendly with low to no fees, that does a great job training new agents. Any suggestions/advice/tips? How do I start doing any research on what brokerages are out there?
Thanks in advance for any help!
I have my real estate license in both WA and HI. In WA, where we live now, I have it hung with Keller Williams in Bellingham, but they do also have offices towards Lynnwood and Seattle too. I work primarily on Whidbey Island. Keller Williams doesn't have a whole lot of start up fees and the monthly fee for our office is about $65/month. You do have to pay your MLS fees and realtor association fees, but as far as monthly it's just the $65 and my Supra lockbox access at about $15/month.
It's definitely been a great place to have my license hung as they provide a TON of education to their agents. The commissions splits are pretty good too, especially for new agents.
Feel free to reach out if you have any other questions for me.
[email protected] kw.com
@Michael Valle low/no fees and "great job training new agents" don't usually go hand in hand. That being said, I work with Champions Real Estate Services based out of Lynnwood. They have a great mentoring program but as with most places with mentoring programs, charge bigger fees in the beginning. However, once you get a few deals under your belt the splits are much more favorable.
Good Luck with your search!
@Michael Valle You may also want to check out HomeSmart. No Splits, basic transaction fees and it appears to have plenty of online training resources. I am considering it anyway :)
Always consider what you are paying (cost) for the brokerage brand in you business model. It sounds like it will be mainly for investing purposes - great, you may not need a conventional brokerage (KW, JSCott, Bain, Wind etc)
Find one locally where investors are involved - not all agents (very few) understand investing.
How to start: Run the hard numbers, grab a spreadsheet and call the brokerages - plug in the hard numbers and then quantify the soft differences (investor mindset, training options, brand advantages, CRM options?)
Buy your top 2-3 choices a cup of coffee. :) Have fun with it - enjoy the journey.
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