Best type of brokerage for an agent/investor?

Question

Hi everyone.

I used to do real estate (very little) about 13 years ago. I let my license lapse since I only did it part, part time. An old manager knew about me doing that back then and recently asked if I would want to get back into it and partner with him on some investment properties. This guy is really smart and never fails so I told him I would love to partner up. I signed up for school and am half way through it now.

My question is, what kind of brokerage would best lend itself to what I would need as an agent and investor?

When I started last time I went with Coldwell Banker and I would not do that again. That was more of a school/job type experience that just didn't seem right for me at the time. I wound up at a place that didn't provide a whole lot of anything and I paid a small fee every month to "use" a desk. I think that might be the kind of place I need but am curious if there are actual investor friendly brokerages out there.

Jake Fugman · Answer

@Tony Brown I was in similar situation seeking a dual identity as investor/broker. I found eXp Realty to be a great fit because they are could based so have low monthly fees and you can still self brand (ex: I hang with eXp but my investment company is On West Properties).

Also, I would look for a place that allows you to do at least 2-3 free "personal" deals so you dont have to pay a split on your own investment sales or buys.

Steve Milford · Answer

@Tony Brown Its a business, so treat it as such. Identify what you want i.e. your goals, and then contact all brokerages in your area for an interview. Most will want to recruit you immediately when they find you are self motivated, and then look for best split, lowest franchise fee, whatever is your fancy. I am affiliated to a small no-frills school of hard knocks brokerage as a part-timer, and I love it. I have mentor support whenever I want it, but no frills means just that. My annual brokerage fees are capped at $2,400 paid as I earn on a 80/20 split. Other fixed costs are licensing and MLS fees. Everything else is variable.

David Bell · Answer

I agree with Jake and will add the multiple streams of income potential as well.

David Gwilt · Answer

Completely agree with both the responses regarding eXp.  It is a phenomenal brokerage that offers so much for a very small monthly technology and education fee (currently $85/month).  You can also do 3 personal transactions per year with very minimal fees and no split to the broker.  Feel free to ask any of us questions you have about eXp.

Tony Brown · Answer

Jake, that is some good info and probably the way I would like to go. I hadn't thought of the "personal" deals part of the equation but I will keep that in mind when I start talking to different brokers. Thanks for the reply.

Best type of brokerage for an agent/investor?

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