I have just passed my California salesperson exam this month, and would like to know what the best type of brokerage would be to target if I want to learn the most about investing. One where preferably I would work primarily with real estate investors.
Does anyone have any recommendations in the Los Angeles area? Any advice is welcomed.
I would be more concerned with learning the nuts and bolts of real estate transactions from your brokerage. Also, what are the costs to you VS what they provide for you. Do you want to pay a desk fee and extra upfront costs to have lots of materials and services at your disposal or do you want a more basic arrangement with all the fees based on transactions. My experience has been that brokerages are mostly made up of a bunch of independent agents who all have their own approaches and investment level in their business. Not to say each brokerage doesn’t have its own culture but do you want to be the newest agent in a building full of agents who all focus on investors or do you want to be the agent doing something mostly different from the rest by getting your BiggerPockets PhD and being the innovator of your brokerage.
All that aside, check out meet ups and meet people in your area that are doing what you want to do.
Are you looking to work in commercial real estate? There are much more investors in that realm. Otherwise you could sell residential and specialize in smaller multi-family. Please feel free to PM me if you want to have a conversation. Once I know more what you are looking for, I can help point you in the right direction.
@dustinallen, thanks for your reply. Being the innovator agent with a PhD in Bigger Pockets would be ideal, but I also want to be with an agency that provides great training and mentoring since I'm brand new. I will check out some meetups and see if anyone is doing what I'm looking to do.
Congrats on getting your license! Exciting times ahead for you. You mentioned that you are looking to learn from an agency or agent that deals with primarily with real estate investors. What I have seen in my experience that there really isn't a specific firm that specializes in investor clients. Finding an agent that works only with investor clients is very rare.
My suggestion is to work for a major firm and try to work with a top producer in that office. Learn the ropes, do as many open houses as possible. Try to build your database. Your main goal as a new agent is to make money. On the side learn about real estate investing. You are in the right place already here at BP.
I am a new agent, too. I joined Keller Williams and they do have a good program called "the mentorship program." You will work with a top producing agent within the office and they will walk you through your first three transactions. They will review how to review offers, write offers, and give guide on what to do.
Each brokerage is different, however, it has helped me learn the basics of how to work through a transaction.