I'm a recently license real estate agent in MA working in the Boston area. What should I be looking for in a broker?
Hey @Javonna Green ,
I just uploaded a questionnaire to the BiggerPockets FilePlace so you can print out and start interviewing brokers in your area. (Check it out: https://www.biggerpockets.com/files/user/noelchall...)
When selecting a brokerage you are mainly you are looking for:
-An energetic and enthusiastic atmosphere
-Experienced manager (and broker)
-Strong listing inventory (how many listings does that brokerage have currently at the moment?)
-Training focus, look at how well the brokerage handles the two major areas of training: initial training (so you can earn an income) and ongoing training (so you can build and grow your business)
Hi Noel, thank you for giving me this information! I will download the questionnaire now.
What I look for is:
-investor friendly (if you are looking for that route)
I recently switched brokerage to a new realty organization that meets my criteria. Great education, low monthly dues, investor friendly, and awesome commission break down. Private message me if you would like name, agency appears to be in your area.
Best of luck!
@Javonna Green Training is key. Not PROMISED training, not "it's on the company website" training, but actual training. Get a commitment that you can shadow a high-producing agent - somebody with a lot of experience.
Find out who will be available and when for the questions that will come up. And who can role play and run through listing presentations with you.
Then find out what they will do to assist you with lead generation and what they recommend for you to do to generate your own.
Have them show you what they use for a CRM. Make sure it looks like something you can adapt to.
Ask what their E&O coverage will cost you and what the policy limits are.
Ask what expenses you're expected to pay for. Franchise fees, desk fees, marketing, lead gen, business cards, signs, sign riders, photocopies, toilet paper (yes, some agencies do that), etc.
Last (on purpose) ask about the split. It's important, but as a new agent, your focus right now should be on learning the ropes. As you become a producer, you can negotiate a better split.
Welcome to the profession and good luck. If I can ever help, please feel free to contact me.
@Javonna Green it seems you've received quite a bit of sound advice, but id add a couple of extra thoughts. Think about the business that you would like to build and the area that you'd like to work in and make sure that the broker you choose puts you in a position to be successful on both fronts. Technology may be a factor as well, ask if the brokerage has an online document signing service and a way to electronically submit documents pertaining to a transaction.
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