New Agent being taken advantage of
Hi guys, I just wanted to share my story. So I joined a brokerage in hopes of learning commercial real estate specialize in multifamily apartment building. It's been a couple months and I realize that I'm receiving no training and basically whenever I have questions, my mentor answers them. I'm quickly looking for another brokerage that can teach me instead of just feeling like I'm just handing my mentor leads for him to go runoff until my managing broker. I'm realizing really quickly what this business entails and how you just have yourself and you can't really trust anybody and I think it's unfortunate because when first starting out, you would think that you are surrounded by people who are looking out for you. So many lessons to learn, I would love to hear what you guys have to say.
Most Popular Reply
Real estate is your business, and ultimately your responsibility. I knew from the beginning that if I wanted a mentor, it was going to cost me in one way or another. Whenever I found an opportunity, I did everything I could to secure it before bringing in someone with more experience to help close the deal.
Look for the agent in your current brokerage—or your next one—who isn't necessarily the busiest, but who is the most approachable and willing to teach. Invite that person to lunch and be transparent about your intentions. During lunch, spend more time listening than talking. If you like what you hear, propose an informal partnership that rewards them for mentoring you while you build your business.
For example, on your first deal, if you generate the lead and they help close the buyer or seller, consider giving them 50–60% of the commission. In return, do as much of the hands-on work as possible. Your paid mentor is there to answer questions, provide guidance, and step in when needed—not to do the entire transaction for you.
On the next deal, reduce their share to 40–50%, then a little less with each successful transaction until you're confident handling deals on your own. It's an investment in your education, and in my opinion, it's money well spent.
- Joseph Beilke
- 240-676-4927
