It has been a while since I have posted, but I just passed the Oklahoma Real Estate Exam yesterday and now I'm looking for an investor friendly brokerage in the OKC area to hang my license. Several months back I started looking and making offers on properties, but kept losing agents and also noticed that in order to increase the likelihood of getting a good deal I needed to make offers the same day they hit the market. Same day viewings/offers just wasn't happening so I decided to get my license.
Does anyone have any recommendations of a good brokerage? My goals with the license is mostly to invest in buy and hold, and every once in a while might help a friend find a house. I already work full time (with travel out of state from time to time) and have no plans on becoming a full time agent, but have no problems helping part time.
Any help is greatly appreciated.
We hold a couple of agent/investor licenses. How much experience do you have in RE?
following and great post - I also have had this same question but haven't got my license yet.
To be honest my experience in RE at this point is limited to the OK RE Course, research I’ve done in investing for a couple years, and purchase of my personal residence. Like I mentioned before I had started to look at investments and made some offers, but after that didn’t pan out I decided to get my license and in the mean time we used our capital to payoff my and wife’s student loan debt.
I was hoping to have more experience at this point, but have to start somewhere.
@Ron Harris and his wife Angelina have a brokeradge that is investor-friendly. I got my license for many of the same reasons and that is where I chose to hang my license. Their structure suits my needs well.
There are only a handful (1 hand maybe, ha) brokerages in Oklahoma City that are 'really' investor friendly. Angelina shares some of them with potential agents since agents need to find the culture they want to be apart of within a brokerage (plus, she doesn't accept everyone if they don't fit, grin).
Of course, it really just depends on what you are trying to do as a regular brokerage may have what you need. Just watch out for the "gimmicks" that some brokerages use to recruit you, recruit others, high fee structures, fee structures you need a spreadsheet to calculate (and maybe understand) and "training" (or lack of).
Some of the things you should look for:
- The right kind of training.
- Is there valuable free training in person and/or online?
- Is there valuable paid training?
- Is there accountability and coaching?
- Is there a track record of successful agent from the training?
- What are you commission splits and/or transaction fees?
- Do the commission splits go away to just transaction fees with experience?
- Is it a cap or not?
- Do you need a spreadsheet to understand the fees, commissions, calculations and more?
- Are you competing with the broker for deals?
- Is the broker or brokerage really providing leads?
- Does the broker actually know how to manage the agent (important).
- Does the broker provide regulatory oversight (UBER important).
- What is the network access of the brokerage, agents and clients?
- Is the culture right for you?
We always suggest you interview several brokers and ask the tough questions. Getting clear of what is expected from both sides is extremely helpful for...both sides!
Gotta go! Angelina is training agents and I've got baby duty and I hear the baby waking up! ha ha.
Hope that helps a little.
Hi @Ron Harris , great list of things to look for and ask, thank you for the advice and meeting with me. It was pleasure talking real estate and what Angelena and you have to offer from the brokerage.