All Forum Posts by: Charlie Cameron

Hey @Sydney Hunter!  I just want to start by saying that for me, it is about VALUE over commission split.  How's the training and mentorship?  What about lead generation and automation tools?  What are the benefits for an investor?  What about for top producing agent?  How much flexibility will I have?  Do I HAVE to do a bunch of deals or can I go at my own pace?  Does this brokerage match my goals?  

$1,600 does seem like a lot for upfront fees. I paid $149 (but that didn't include MLS, which you usually have to pay for separately anyway).

The model for my brokerage (eXp Realty) is 80/20 up to a $16,000 cap and 100% after that.  That math seems better to me.  One model isn't right for everyone, but most are work a look.  Definitely check out a few more brokers before settling on that one.  

Best of luck to you and CONGRATS on getting licensed!  

@Vanessa Montiel where are you located? Course flexibility, cost to license varies by state.

Every other week meetup for real estate investors, professionals, and newbies alike! This will be a great opportunity to teach, learn, and network. Our meeting is small and personal, and we're growing by the minute!

This will also be an opportunity to learn about becoming a real estate agent and about eXp Realty, the fastest growing brokerage in the nation. Come learn about the unique benefits of this game changing company, if that is what you want to talk about.

This will be a low key event - Order yourself some food/drinks, and come & go as you please. Please RSVP, so we are able to reserve enough space for our group and I know who to expect.

This will be at the Sparkman's Wharf Biergarten. Park in the lot across from all the food shops, walk past the food to the back and you'll see the open-to-outside Biergarten bar! I'll grab a table nearby and I'll be in a grey polo with an orange eXp logo.

See you then!

Every other week meetup for real estate investors, professionals, and newbies alike! This will be a great opportunity to teach, learn, and network.  Our meeting is small and personal, and we're growing by the minute!  

This will also be an opportunity to learn about becoming a real estate agent and about eXp Realty, the fastest growing brokerage in the nation. Come learn about the unique benefits of this game changing company, if that is what you want to talk about.

This will be a low key event - Order yourself some food/drinks, and come & go as you please.  Please RSVP, so we are able to reserve enough space for our group and I know who to expect.

This will be at the Sparkman's Wharf Biergarten. Park in the lot across from all the food shops, walk past the food to the back and you'll see the open-to-outside Biergarten bar!  I'll grab a table nearby and I'll be in a grey polo with an orange eXp logo.  

See you then!  

My biggest questions are:

• How did you come up with gross income?  
• Is that NOI the actual values over the last three years?  
• What is your personal goal and does this help you get there?  

It maybe doesn't sound like you are happy about 10% CoC. On my deals, on the conservative end I'm looking for at least 10% cash flow and 15% actual (counting the principal being paid down). But the deals I've done have been value add, so in reality it looks worse than that for 6ish months and then much better than that after.

Around here in Destin when working with investors, I'm typically looking for the gross to be at least 10% of the property price, if not 12%+ before we even start crunching the numbers.  

Another thing to consider is heads in beds.  AirBnB investors want to maximize occupants (with regard for safety and local regulations of course).  In many areas, it doesn't cost 2.5X as much to go from a 2 bed condo to a 5 bed house.  

If you're open to self managing, you could keep even more, but then that's a J-O-B.  My investor friends here in the Panhandle mostly self manage because it isn't too tough.  But from a afar it's tougher for sure.  

I guess my answer is: if you are confident in the actuals and happy with the cash flow, then go for it!  (this is me speaking as an investor only)

@Zeb Lopata absolutely, you can do all of those things with eXp Realty, we well as sales referrals (you have access to the entire 20,000+ agent community across the nation).

About the only thing you can’t do with eXp (yet) is property management.

@Zeb Lopata what do you plan to do with your license besides buy that property? That should help answer which brokerage might be best.

You can also consider a cloud based brokerage which would give you the flexibility to work from anywhere, while also providing local support with a local mentor and the option to join agent teams. Save on franchise and desk fees as well.

Best of luck and congratulations!

It may be different in Pennsylvania, but in Florida an agent has the ability to share commission with the party they represent. However, if this is an MLS deal then there is a broker listing agreement that already set the agreed upon commission, that is to be gained by the broker(s) that put the deal together. Usually that would be split between the two brokers in the transaction but in this case it is just the one (therefore the agreement would be for the broker to keep the entire commission). As a newer agent, I'm not sure whether that can be altered with an addendum like so much else can be, but I suspect not without relisting the property?

@Fallon Morris congrats on taking the leap to get licensed!  I'd say concentrate as much as possible on your course so that you pass the exam first go, THEN worry about the next steps.  (I'm a firm believer in your "ONE Thing")  But there is a little bit you can do ahead of picking a brokerage, like setting up your social media to help with later lead generation.  

It is great that you are already thinking about leads.  So many new agents don't realize that depending on the broker/team structure you go with, most of the time you still need to generating your own leads.  

Your broker should provide initial training and mentorship, but there is plenty of additional supplemental training you can get online (I use a LOT of YouTube videos from agents in my brokerage).  A lot of time lead gen CRMs will also provide their own training.  

As far as teams go, they all vary.  I joined a local team because we support each other and it allows me to either generate my own leads and still keep my 80/20 split, or take team-generated leads in return for sharing more of my commission share.  If I have leads, great.  If I don't have any current leads, I can nab them from the team.  Better to have some business and share commission than 80% of NO business!  

Nothing says you have to join a team.  But as a newer agent, it has been awesome and helpful for me.  You might also join a structure where you specialize as the buyer agent and split commission.  So you can do zero lead gen as well.  I'm really enjoy the DIY aspect of real estate, so I'm digging deep down the lead gen rabbit hole, but that's me!

Best of luck to you, go out there and CRUSH it.  

@Account Closed congrats on getting licensed!  I want to emphasize Keller's Millionaire Real Estate Agent, though just take the big takeaways for now.  You can grow a massive business AFTER you get your feet wet!  

But you definitely need to (required) hang your license with a broker, preferably one with a built in mentor program like @Jonna Weber said!  With mine, a mentor is required for at least 3 deals, which is awesome.  Plus you'll want access to continued support, training, and tools.  

Interview some brokers, pick the one that provides the best value for you, and then go out there and crush it!