Newly licensed in Oregon seeking principal broker
New to Real Estate · Portland, OR · Member since 2016 · 20 posts · 4 votes
Newly licensed in Oregon seeking principal broker
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Real Estate Agent · Houston, TX · Member since 2019 · 240 posts · 155 votes
6y@Whitney R.
Hey! Congrats on getting licensed! I’ve personally found eXp realty to have a wonderful mentorship program. You can choose a local mentor and they will take you through your first three transactions. If you get a good one like I did, they might even send you leads!
9 Replies
- Real Estate Agent · Houston, TX · Member since 2019 · 240 posts · 155 votes6y
@Whitney R.
Hey! Congrats on getting licensed! I’ve personally found eXp realty to have a wonderful mentorship program. You can choose a local mentor and they will take you through your first three transactions. If you get a good one like I did, they might even send you leads!
- 6yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
@Mike Nuss check out Mikes Rarebird real estate.. great incubator for someone wanting to get into investing and being and agent as well.
- Real Estate Agent · Portland, OR · Member since 2013 · 412 posts · 219 votes6y
Depending on what you’re looking for you may find some of the large brokerages a good fit...they’re certainly larger but with that comes established programs you sit in on and learn the business of real estate, not just filling out a contract.
I’m with KW and think we have a great, thorough training and mentorship system, especially for new agents. I’ve heard good things about how PPG (I believe they used to be KW agents who split off and created their own brokerage) helps new agents as well.
My suggestion is to not worry about splits and fees and desks and business cards and your website and all the other things people get wrapped up in. Instead, find a Principal Broker who will show you the models you can emulate to reliably find business and then take care of the business you find. As an agent your job is lead generation!
Best of luck...happy to help if you have questions!
Mathew
- New to Real Estate · Portland, OR · Member since 2016 · 20 posts · 4 votes6y
Thank you for the advice!
- 6yCory CarlsonBusiness MemberReal Estate Broker · OR · Member since 2018 · 311 posts · 226 votes
Exp and Keller Williams have great training programs for new brokers. My friends who have got their licenses have eventually moved away from KW. I wouldn't write off a smaller brokerage to get some 1 on 1 help. Also depends on what your goals and background is in. Where is your sphere? Take some consideration into your current sphere and background. If you had a finance degree or grew up in a wealthy part of Portland or worked in property management that provides three different brokerages. See where I am getting at?
Constant Commercial Real Estate Inc543 Reviews - New to Real Estate · Portland, OR · Member since 2016 · 20 posts · 4 votes6y
Hi Cory,
Thank you for the response. I’m a very successful short-term vacay property manager and have been at it about six years. I handle nearly every aspect of the business.
Although I'm no expert on city codes and construction requirements, I feel my area of knowledge, in terms of RE, is seeing the potential in short-term rental opportunities, either with an entire property or ADU potential within a property. Otherwise, I have a strong customer service background in a variety of fields over the past couple of decades. I'm much more interested in good mentoring and training than the usual perks and benefits all the firms list to bring in new brokers. I am approaching this as one would in choosing a good school and not so much racing for that first commission check..although experiencing both early on would be great, of course!I’m not sure if I’ve answered your question but I do get where you are coming from.
Thanks!
- Lender · Vancouver, WA · Member since 2015 · 482 posts · 316 votes6y
Hello Whitney, it always comes back to total value, not just training. I don't know of any brokerage that won't accept a motivated agent. My suggestion is to interview at least 5, though 10 is better, different brokerages to find out what everyone offers and doesn't offer, and then make your choice. My #1 tool is the phone, learn to use it well. People that have the hardest time in the business are apprehensive about talking with total strangers.
I hear to not worry about "splits and fees and desks and business cards and your website and all the other things people get wrapped up in," but I say think about all of it. It is a business, your business, and the ability to control your costs is HUGE. After you are "trained" you will find that costs and total value are reasons why you will switch brokerages, if you do that.
Your sphere of influence is #1 in my opinion. #2 is costs of doing business. Income comes when it does - it is truly feast or famine. It doesn't matter how much money you make if it all gets sucked up into costs.
Some things that are good to know: Any contract you write is owned by the brokerage you hang your license with. Training preps you for the real world, experience teaches you about the real world. There are so many avenues for training, especially with title firms, and many agents help each other. Most people "get through" their personal sphere in about 2 years (where failure rate for agents climbs fast). Getting the phone to ring with new business is the hardest piece (just like with ANY business). Cold and slightly warm leads cost. Referrals are #1.
Many brokerages/teams only market under 1 name (that is why you might see some names having 100, 200, 300 recent transactions - all in the name of marketing), so the closing agent is that name not yours with Buyers. This is also done on the Seller/Listing side - the team name will be the name for marketing and the co-listing agent will be the one that does the work. I do my own transactions, and get credit for my own work.I chose the small brokerage route, where I have access to my principal by phone 10am-9pm daily, though there is little to no technology available, and there was no formal training programs. When I want training, I get it from YouTube, from title companies, I ask questions of other agents (even competitors), read lots of books, listen to lots of podcasts and have taken/paid for training at other brokerages. I have learned so much, making me very versatile and flexible.
I built all of my processes from scratch with approval from my principal, and incur my own technology costs. From true cost, my direct mail costs me 5.6 cents + postage per piece. I use DocuSign, about $300. I use Adobe suite, $16.75 per month. I offer custom signs, professional photographs, in-house showing flyers (all services to produce outsourced, and costs incur when I need them). My website costs me about $150-$200 annually depending on the marketing funnels I am running through it at any given time. My data gathering processes are cloud-hosted. I scan documents in the field, in front of clients so they can get them in their in-box before I leave appointments. And then I have the RMLS and related costs like PMAR association dues, Sentrilock. My brokerage costs are pay as I earn. My brokerage costs are the lowest I have seen. I "try out" contractors and now only work with lenders that answer the phone in the evenings and weekends and that give my their direct cell number (when I work).
I work when I want too. I am considered "part-time" because I work this business primarily in the evenings and weekends (I have a daytime job), though I am busier than many "full-timers".You are in control of your destiny here. My #1 marketing tip (after you hang your license somewhere), is to engage in as many conversations daily as possible trying to solve problems, and building your team (lenders, virtual assistants, title firms, etc). Pass out your business card 1 at a time, as fast as you can. Go look for problems or people needing help.
No one gives me leads/referrals, and I get contacted daily with schemes where I can "pay for them" lol.
My first seller came from a referral through another business associate (whom I have never met) within 3 months of getting my Washington license. My first buyer was a former co-worker 1 month after getting my Oregon license. This business is what you make of it.Good luck, and feel free to reach out.
- Member since 2019 · 2 posts · 0 votes6y
I am also looking for a principal broker to hang my license. Mine is primarily to be my own agent on buying a few rental properties, so low cost is more important than mentorship. Any ideas of a principal in Oregon (Eugene would be ideal, but not required) that would be interested for a reasonable monthly or per deal fee?
- Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes6y
@Neill Juilfs You could try Hybrid Real Estate, where I hang my license. They do have very low brokerage splits, at least after the first 5 transactions for mentorship/training. We are the largest independent and 100% locally owned brokerage in the area.
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