Real Estate Broker · Portland, OR · Member since 2015 · 39 posts · 16 votes
I'm starting out with next to nothing and I need to make a living while I learn the rules of investing so I'm studying hard to be an agent and hang my license under either a local brokerage (Georgetown Realty) or the big bad Keller Williams. Any thoughts? Not only on who but on what activities I should focus on as an agent?
Go with whomever you feel is going to help you the most in the long run, especially regarding training. The big brokerages are usually good about that, however they will typically take a larger percentage of commission than theIr smaller counterparts. Also ask if any of the agents at the brokerage are investors. You may get lucky and receive free training in both areas, as well as gain a mentor!
I would speak with both of the brokers. Not all KW office are going to be ran the same way. See what each individual broker has to offer and make your decision from there.
The most important thing any agent can do is ADVERTISING.
Go with whomever you feel is going to help you the most in the long run, especially regarding training. The big brokerages are usually good about that, however they will typically take a larger percentage of commission than theIr smaller counterparts. Also ask if any of the agents at the brokerage are investors. You may get lucky and receive free training in both areas, as well as gain a mentor!
You should think about what you want to do as an agent. Do you want to show home owners properties that they will live in or do you want to deal with investors that are going to submit 10-20 offers every week and hope some of them stick? What is your current market, friends, family, people already on your cell phone contacts? If you need more help, it's worth going with a bigger firm. If you just need a place to hold your license, then go with one that doesn't charge a monthly fee. You can make money from the start or it could take you months to close your first deal. That's up to you.
Sorry I am a KW agent, and I disagree with James. Advertising (passive & expensive) is not important, but calling or door Knocking (being active - low cost) start with expireds, absentee owners and FSBO's! Good luck!
Local brokerage. I have never had success with a chain when looking for a realtor that knows investors. Find a local broker that specializes in investors. They will show you the ropes.