Newbie to real estate here.I just passed my NJ Real Estate Exam. Looking to be a dual agent and licensed in PA as well but need to sign up with a broker first. Iv met with Century 21 Gold, Redfin, and 1 other local broker. Any suggestions on good brokers in the area? I am also looking to work part time for now ( Even tho I know it is frowned upon by many). Looking for good training perhaps a mentor as well. Any suggestions/tips are appreciated. :)
When it comes to Brokers it honestly depends on your personality and what you expect out of your brokerage and office manager.
I have been with different brokerages, however, I have found most success with Berkshire Hathaway for a couple of reasons. For me, BH has the top market share in the Philadelphia suburbs based on volume and sales and to me that gets me a lot of notice w/ my marketing...I eventually am the one closing the deal, but the brand gets me to the door.
Also Berkshire Hathaway has offices all around the Philadelphia region and offices in South Jersey. Many of the agents in my office work the Main Line and work in Margate or Ocean City down at the shore in the Summer. Let me know if you have any questions...happy to help.
Best of Luck!
Thank you for your response Zachary! It is definitely something I will consider.
one of my closest friends is an agent/broker with Berkshire Hath in Philly, and they have a strong presence and a great reputation. However, there are many newer firms tackling the growth areas.
It's definitely a personality thing.
I worked for a firm in NYC that I did not jive with. By the time I left and was looking elsewhere I moved.
It's a gut feeling.
@Jessica V. Congratulations! I agree with Zachary it depends on your personality. I started out with a large franchise in my area. I thought they would help me get my name out there faster but I felt like I got lost among the other 40 agents. I moved to a small local brokerage last year and have been much happier! Best of luck to you!
@Jessica V. Ask any agent and they will tell you their brokerage is the best. I am no different of course! But here is something that might help you to navigate. There are three business models in this industry - and you should choose the one that is the best match for your personality. The traditional model is a "dependent model" where the agent becomes part of the corporate identity of the borkerage. Often they have "floor duty" and distribute leads that come it through their office. The brokerage is taking a comission split of every dollar earned and spends a lot of it on marketing it's brand. They also offer training and support. Agents compete within the brokerage. Teams are businesses are only supported as long as they fit within the brand. Comission splits are negotiated, high producers pay less, new agents pay more. This model seems to work best for people who like a structured environment. The second one is the "independedent model" which is more like a franchise. The franchisee keeps 100% of the comission, but has to pay franchise fees. Very little training and support, but a great freedom to start and run your own business under a global brand name. The third model is "interdependent". The model is agent centric instead of brand centric, teams are encouraged and training, systems and culture are the backbone of the organisation. It is interdependent, because agents are their own boss, advertise primaily under their own name, and can leave with their deals at any time, but the bokerage is attractive enough that they rather stay. Comission is capped to a total amount and after that 100% to the agent. All agents have the same cap. Agents are stakeholders and collaborate instead of compete. I might be a bit bias, but I am just genuinley excited about beeing part of an interdependent brokerage - Keller Williams. I find it hard to explain in a few words - KW is easier to experience. KW became the biggest in the US last year (and fastest growing I will add). If you are entrepreneuial, love training and consider yourself a high achiever you should call one of the market centers and make an appointment with a team leader and see if you like what you hear before you make a decision. By the way: I did 49 transactions this year and just capped in 3 months. This means the brokerage has made enough money with me to cover expenses and have a profit, so for the balance of my year (Sept-Spet) I will keep 100% comission. Of course I like that too. Feel free to call or PM me if you have any questions!
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