Brokers for Out of State Agents

7 Replies

I'm looking to take my test in the next couple of weeks and I am currently looking for brokers who are open to having out of state investors as a part of their team.  Does any one have any recommendations?

Yes, KW. I am not totally clear about your question, but KW is became the largest brokerage in the US, is very progressive, tech and training focused and supports entrepreneurial thinking (your name, your business, your team). One concept is "expansion teams" - some teams become so succesful in their local market, that they make their backoffice available to agents in other markets. Backoffice usually includes ISA/OSA call center, marketing, transaction coordinator, admin, listing specialists - all they need is boots on the ground. Does that answer your question at least partially?

@Marcus Auerbach I've been told by multiple people that most brokerages aren't interested in hanging a license from an out of state investor.  It sounds like I need to find the rock star brokerages that have room available for out of state agents.

Originally posted by @Spencer Cornelia :

@Marcus Auerbach I've been told by multiple people that most brokerages aren't interested in hanging a license from an out of state investor.  It sounds like I need to find the rock star brokerages that have room available for out of state agents.

 Okay, you have passed the licenseing exam in a State other than where you live and you want to practice in that other State. Help me understand, would you be there during the week? How / why do you want to do that? I feel like I am missing part of the story here.

KW takes a lot of fees, from my understanding. If you’re just doing a couple transactions a year for yourself, and not chasing clients for real estate, you may be better off finding a broker that will charge you minimal fees. 

@Casey Powers Someone privately messaged me from this thread, recommended their broker, and I'm meeting with him on Saturday.  100% commission, very fair fee per each transaction, really low monthly fee.  Sign me up!!

Originally posted by @Spencer Cornelia :

@Casey Powers Someone privately messaged me from this thread, recommended their broker, and I'm meeting with him on Saturday.  100% commission, very fair fee per each transaction, really low monthly fee.  Sign me up!!

Hope you had a good meeting! What the general public does not realize there is a huge difference between the top 10% of the agents and the rest - it comes from experience. Top producers will close min 30-50 deals a year, while the average agent is selling 3-5 houses a year. You get good at what you do every day, so there is a huge difference in skill and how in or out of touch an agent is with the market. It all comes with volume; number of contacts, number of conversations, interactions, problems to solve etc. And that usually translates into better outcome and more money.

If you broker your own deals, you have to disclose that to other parties, some deals will not allow you to get commission on your own deals, but here is IMO the main issue: keep in mind that you are knowingly hiring an amateur agent.

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