ISO the right sponsoring broker (Austin, TX)

10 Replies

Hi everyone,

My name is Alan and I have just completed 10 years in the US Navy and am beginning a new career as a real estate agent. I am currently working towards the completion of my educational requirements through Austin Community College but want to start doing my research now in regards to finding the right sponsoring broker in the area as well as any tips on making the right choice.  I will complete the required courses by January of 2020 and will be taking the state exam ASAP.  All referrals / advice is welcome.  Thank you! 

Welcome @Alan J Mowder ! Congrats on your new endeavor and thank you for your service! I'd be happy to chat about my experience with Austin Texas Homes, the boutique brokerage I work with. It's a very low pressure environment with as much support as you want to receive. If you'd rather do your own thing and not attend meetings, no problem. If you prefer to sign up for regular Buffini Top Producer courses, they'll arrange that for you. It's more of a place for self-starters but the hand holding is there until you find your feet :-)

Hi @Alan J Mowder !  Congrats on your service, and good luck with your exams!

Finding your brokerage has a lot of elements.  One of the first things you can do is research which brokerages have the most market share in your area.  This is important because you'll be able to align with the most recognizable name.

Look at the resources that they offer, the commission splits, and training opportunities.  Another thing you'll discover is that all of the testing that you're studying for is great, but doesn't prepare you for the business end of things!  Do you want someplace with in-person coaching or online resources?  What kinds of ongoing learning is available?  Is there coaching, and what is included?  What are the monthly fees?

Ask if you can attend some of their events before you sign on.  Is there a weekly or monthly training/sales meeting you can drop in on?

Finally, stop by a few open houses that the top brokerages you're considering have.  Talk to the agent there and get a personal sense of what they get out of the brokerage.

If you have the time and want to do the research, any or all of these should help you make a great decision!  Good luck!

Thank you Kristel....That's great insight!  How do you personally enjoy working for Keller Williams?  I hear mixed reviews about Keller Williams but from what I understand, they have a great training program.  

Thank you for your service in the second-to-best branch of the military, and congrats on the new career (USMC here). 

It really depends on what you want. Before I became an agent, both of my previous agents had been Keller Williams agents, and they definitely knew what they were doing. From my understanding their training is pretty great, especially for beginners, and they'll really get on you to produce, which can be helpful for a new agent. They also take a pretty good chunk of your commissions in return. Since I had already bought and sold quite a few properties and still own a number of them, I went with a small-time broker I knew who is very hands-off, and charges very little for commissions. Sort of a low cost, low service model.


Also, a minor note of caution; at most brokerages, an agent who gets another agent to join will get a small percentage of that agent's earnings for a period of time, and sometimes forever. It generally comes out of the broker's side, not your side, so you don't really lose anything, but be aware that agents who are recommending their own brokerages also have something to gain by it. I'm not saying that the recommendations here are coming from a bad place, or that they're bad recommendations. Think of agents like military recruiters; they're probably not going to directly lie to you, but they will steer you in the direction they're told. You should definitely do your own research before you choose one. FYI, My broker doesn't do that; I'm purely trying to help out a fellow vet.

Actually, on second thought, he might buy me a nice bottle of whiskey or something as thanks, but that's it.
 

Hey @Alan J Mowder !  I'm an active duty, a (newer) agent, and an investor (for whatever that's worth), so my perspective my vary.  Thank you for your service brother, I'm coming up on 8 years.  

To me the most important thing is that you're getting the best value for you and your family.  

I joined eXp, which is different from most models, for a number of reasons (in rough order of importance to me):

  • It gives me maximum flexibility to both work and do sales, as well as a potential to transition fully to real estate in the future, should I decide that is best for my family.  
  • Access to training (on demand & live), my mentor, my state broker, and our local team.
  • The value.  The tools and training provided vs. the fees/split is awesome.
  • A nationwide (and international) network of agents.
  • As an investor, I also like the ability to earn company equity at a discount and build a truly passive income.
  • Also as investor, I wanted max commissions on sales on my own properties.
  • [Solicitation Removed by Moderators]

Best of luck to you brother!  

@Alan J Mowder for brand new agents with very little real estate experience you’ll probably wanna go with a brokerage that offers tons of training. If you just wanna do non traditional deals speak with Angie Francis at Stepstone. TY for your service.

This post has been removed.

Hi Alan, thank you for your service! Your first goal is to outline what you expect from a broker and what you hope to gain. This will frame up your questions when you interview with different shops. I am with Keller Williams and joined them because of the huge network of agents and unlimited training opportunities. You may have similar or different goals. If you want to chat about KW, simply send me a DM and happy to connect.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here