Just passed my salesperson exam and i am now licensed in the state of massachusetts! Whoop Whoop! I am trying to decide which broker to sign with. I have been in contact with KW and i feel the most comfortable there, however i have also considered Exit. I also just lost my job, and i'm looking for a full or part-time job, preferably evenings, nights or weekends(anybody got something for me to do? lol) Anyway, that is a factor in my decision, and KW fees do add up and is hard for me to do when i'm just starting, while it seems like all the fees that are there are free at Exit. Any information, advice, offers, would be greatly appreciated. Also, please no sell jobs or sales pitches for your company, just looking for advice, Thanks all!
Is your goal to use a licence to facilitate investing or do you want to make income as a real estate agent? If you just want to have a licence and do your own thing go for the least expensive option and doesn't have high productivity requirements and mandatory desk time and that kind of stuff.
If you want to make money as an agent then pick the one that you feel has the best training and ongoing support as well as the office that will get more foot traffic. Starting out you are more likely to get buyer clients than listings so getting people in the door will be useful.
Thanks Shaun, yea right now i'm just interested in being an agent, but would love to start getting involved in investing once i have more experience.
@Joshua Daoust I would work for KW between those two choices. As a newbie, you should look for an office with a lot of training and support, even if the commission split is lower. You will make up for it by gaining contacts and access to information. After you have worked for a few years, start your own brokerage or work for one with higher splits for the agent.
@Joshua Daoust, I agree with @Dawn Brenegen. I'm taking classes to get my agent license and of all the real estate companies here in the Houston area, KW definitely has the better training, support, etc. I agree with you on the fees - they do add up but on the flip side of that, you get that extra training/support that you don't necessarily get with the other companies. I've talked to other agents around where I live and about 80% of them suggest KW as the way to go for the new agent starting out.
Just my opinion. Good Luck!
@Joshua Daoust Congrads
I was looking for something on YouTube and I ran into a bunch of Videos where new agents were partnered with high producers when they joined a firm and it seemed to equal success.
I'd see which Franchise can have you partner with a high producer that you get along with.
@Dawn Brenegen Thank you! Yea more and more im leaning towards KW.
I agree with @Shaun Reilly I decided to join a local broker that focuses on short sales and investors, so I could focus on servicing investor clients instead of first time home buyers. This way I can have less clients, but I know that each client is good for at least one deal per year going forward. I do not have any fees other than the MLS fees. The broker also is an experienced investor, so I can bounce deals and ideas off of him to expand my knowledge and business. It comes down to what the broker/firm has to offer you based on what your niche will be. Do you want to chase first time home buyers, and compete with thousands of other agents?
@Brian Ortins What brokerage do you work for in Bevelry MA? The brokerage that I'm affiliated with is also in Beverly MA -Accurety LLC at the Cummings Center.
@Joshua Daoust After I passed my exam I joined an extremely small brokerage to work part-time (3 people including myself). This was both a good and bad thing: I learned a ton because I received a lot of customized attention and I was able to piggyback some of my broker's deals. No fees and a 75/25% commission split was pretty solid I thought.
On the flip side, smaller brokerages usually don't offer as much in terms of networking and resources. Networking is crucial in real estate, especially as a new agent. Nearly all deals come from people who know you, so building up a network while simultaneously learning how to be an agent can be difficult.
Picking a brokerage also depends on your area. If I were to do it again, I'd find a brokerage that is investor friendly and geared towards finding deals like @Brian Ortins described above. I have a full-time day job so I'm not relying on real estate commissions for paying the bill, only to feed my personal real estate investing. I'm not sure what your goals are, but if it's to make money you might want to consider joining a larger brokerage like KW to learn the most you can, and build your network.
@Joshua Daoust If you're looking to learn the sales part of the business, KW is a great choice. It's a huge company with tons of systems in place to train train train.
Disclaimer: I'm with KW, and it's the only broker I know from the inside. Yes they have monthly fees, but you get a pretty good crm, a good enough website, pre-built marketing, and digital signature program for that.
@Gregory Tran Nice! Thank you for the input!
I agree that Keller Williams has a great agent development program. However, if your can self motivate, read Gary Kellers millionaire agent book and go with a discoun brokerage.
@Justin J. I work with Atlantic Coast Homes out of Salem, MA.
Have you spoken to more than the 2 agencies you are currently considering? If so, I would meet with a few more agencies and see what each has to offer.
Beyond that, I would go with the one that has the best personality fit for you/your favored office dynamics. Personalities play a HUGE role within each office and the other agents can either make or break a new agent- try talking to some of the agents (particularly the more active ones).
I think you have a good idea. It is important to have good mentors to bounce ideas and share experiences with. Reading a good Zig Zigler book always helps, but a good mentor is more important. I always thought that KW seems more about recruiting additional agents than selling property.
Hey @Joshua Daoust
I was considering going with either KW or Exit and I chose the latter because Exit doesn't charge any office fees. Being a part time agent is tough enough and paying dues every month when you aren't producing is just bleeding out your money. I was with ERA which is the biggest company out here but a few of the agents were already getting ready to leave and go with Exit for the same reason. If you have any other questions feel free to inbox me. Good luck.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.