what real estate firm should i work for?

Question

i just passed my real estate license test today  so now i am looking for a broker to work for. is it bettter to work under a large company? small? does one offer more commission? is it just solely for training?

I want to continue flipping houses if that means anything.... would one firm be better than another?

what should i be asking when checking out these different places to work for?

thanks brochachos for your input

Jean Bolger · Answer

Look for people that you feel comfortable with, that have goals similar to yours, and are doing what you want to end up doing, and have a helpful attitude. A lot of big brokerages tout their training and mentoring. But a big brokerage whose focus is on retail home buyers would probably be a source of frustration for you- no matter how good their training is, it would be training in things that don't interest you.

If you are mostly flipping, a lot of your income would be from profits, not so much from commission- so the split is less relevant. Although it's not unlikely that an investor focused brokerage would have a lower split anyway. Expect to pay a higher split on your first several transactions - it is worth it because you'll need the guidance from your managing broker to make sure you get everything right.

Joel Owens · Answer

Sounds like for what you are doing you would seek out a real estate company with a principal broker with an investor mindset.

Ashley St. Gelais · Answer

Hey Devin,

It's really important to make sure you'll get the support that you need when first starting off. There are benefits and drawbacks to both large firms and smaller firms.  If there are specific questions I can answer for you or potential introductions I can make for you, I'd be happy to help.  : )Ashley

Rick Santasiere · Answer

Huge decision.  Make sure you take your time.  I am a real estate broker, who started my own company three years ago.  I started my career at a "Big Box" shop, which was a good choice.  Reason being is training and mentoring.  Make sure YOU INTERVIEW the manager as well as them interviewing you.

- Ask them how they prepare to assist your success.

- Ask them about leads, and how you can work hard to start receiving them.  Some managers have their "favorites," so you want to see if you can determine how leads are sifted throughout the office.

- Commission - Forget about it for now.  You will get the minimum 50% if you select the best shop for training and mentoring, but it is well worth it.

Once you have learned the skills you need (at least 2 years), seek out a guy like me (in VT obviously) who has a tiny outfit, but can pay you more of a split because the "little guys" costs are much cheaper than the Big Box ones. I don't train my agents, but I take pride in mentoring them..

If you have any questions, please reach out, I could give you a ton of stories and thoughts that I didn't already share. Hope this helps a little :-)

Russell Brazil · Answer

@Devin  Mann What broker you work for ultimately depends on what you want to do with your license.  If your intent is just to buy and sell your own properties, then I would think a small boutique investor friendly brokerage is the way to go.  If your intent is make residential sales a large part of your business then I would go with a large brand name brokerage that can offer you good training and and instant brand name recognition.

Patrick Scifres · Answer

Devin,

Joel and Jean offered great advice.  I would talk to as many people as possible, neighbor's, friends, family, bankers, etc. to find out as much as I could about each office.  Where ever you chose to go will be a learning experience, good and bad.

Remember these things, this is a business, nothing is personal, keep educating yourself, and become involved in as many civic groups and organizations as you possibly can.  Market, Market, Market yourself, there is never such thing as enough Marketing.

what real estate firm should i work for?

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