Real Estate Broker · Fargo, ND · Member since 2014 · 37 posts · 12 votes
I am currently preparing to take the real estate licensing exam and was wondering what brokers people suggest? I have been told most brokers only want you to focus on buying and selling homes for clients (makes sense thats how they get paid). How should I go about finding an investor friendly broker? I have talked with a few and they all say they are ok with me pursuing my own properties, but I feel like they are saying that to get me to sign on with them..Any suggestions?
Flipper/Rehabber · Arlington, TX · Member since 2013 · 1k+ posts · 2k+ votes
12y
As far as BIG players that are innovative and investor-friendly, I really like Keller-Williams.
But I also work with an agent who is part of a SMALL brokerage based here in Dallas and they go out of their way to work with our team. Seems like small brokerages have much more flexibility.
Involved In Real Estate · Charlotte, NC · Member since 2014 · 11 posts · 2 votes
12y
When I started I looked for a broker who focused on investors. I was apart of a property management firm that had a leasing and selling side and specifically worked for investors. The boss encouraged me to start investing in real estate while I was there!
Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
12y
Keller Williams is great for new agents looking for a career in RE, but you definitely pay for it via your split & cap. I did a year with them & got recruited by another broker.
Even though you will do your own deals, you NEED experience. The problem with this business is that the barrier to entry is too low. 90% of agents really don't know what they are doing.
I recommend starting with a place like KW that will mentor, train, etc & then move on when you are ready. By then you will know who is investor friendly etc.
Residential Real Estate Broker · Austin, TX · Member since 2014 · 146 posts · 21 votes
12y
I agree with @Matt M. Start with KW and take advantage of their training (it will cost you a bit but will give you the basic knowledge you need) Then, I would identify the best investment oriented brokers in your are and move to them.
As far as BIG players that are innovative and investor-friendly, I really like Keller-Williams.
But I also work with an agent who is part of a SMALL brokerage based here in Dallas and they go out of their way to work with our team. Seems like small brokerages have much more flexibility.
Completely agreed with Dev...
If you're going to go with a big firm, go with KW, but expect to pay a lot in fees and commission splits. Smaller brokerages will tend to be more investor friendly, and many of them will have flat-fee services, so you don't give up a percentage of your commission. Though the smaller ones won't have the training programs and support of the larger ones.
Flipper/Rehabber · Arlington, TX · Member since 2013 · 1k+ posts · 2k+ votes
12y
To @J Scott 's point - many of our guys just pay a listing broker a flat fee like $500 to list properties on the MLS, because it's a no-frills service that gets you what you need - i.e., found by BUYER'S agents!
But yes, KW is great at working with serious investors for all the other things you need an agent/broker for - listed opportunities/REOs, comps/MLS access, sharing leads, etc. I have (an independent) KW agent on my "team" and she rocks.
Real Estate Agent · Fort Worth, TX · Member since 2010 · 208 posts · 70 votes
12y
Interview several brokers, ask a lot of questions. Rub shoulders with veteran agents and ask them. Personally, I think commission splits are for suckers. Broker offered Training is great, but you will pay for it with commission splits, desk fees and franchise fees.