Pound for pound C21 has the best training. Just converted in June and I have interveiwed and hired many agents.

Make sure the broker has you on a set training schedule. Much of the training can be completed online.

Good Luck!

i coneverted from c21 straight to prudential. the c21 franchise i was at had great training, but prudential offers great training too.

I'm sure it varies by offices but the prjudential guy i spoke to was kind of a jerk but he did offer training but charged about $1000 for it....some upfront and some off 1st 4 houses..... c21 was free and seemed like it would be more intense,..... not sure.. the jerk guy turned me off by his attitude though so who knows....


RAE

Actually, our Keller Williams brokerage does not charge a franchise fee. We have the normal 70-30 split, 16k cap and desk fees of $75/mo. So, it does depend on which brokerage you are with. Interview and check with several!

Steve, what is the 16k cap for/mean?

Thanks!

Once the company's share of the split (30%) reaches $16,000 during each year starting on the date you started with the broker, you then go to 100% commission for the remainder of your year.
At the start of each year based on your start date, split reverts to 70-30 and you start over again.

Yeah, our C21 office offers the 70/30 including all franchise fees, training, business cards, sign installation, E & O and more. No production quotas unless you close 4 sides per month then you go to 80/20 straight split.

Trust me when I say anyone who doesn't charge a franchise fee already has it built into the split.

Great question. I read this book by Robert Greco, which can be found at www.realestatecareersecrets.com He actually goes over his actual expenses on a monthly basis. His chapter on finances has helped me greatly!

why are all of your first few posts about this website you keep advertising? are you robert greco? if you are, just come out and say it instead of hiding your identity.

I actually posted on another real estate message board and the same guy posted the same mesage abot a comlpetely different subject. Boy I hate that.

Nobody cares about your stupid book.

I work for Prudential, excellent training and support, at least in my office. In training they said 1st year expenses would be about $1,800, and I have found this to be true. Also, plan for 1 commission check to be taken up in expenses each year.

I want to go back to the original topic: How much money do I need to start?

You can figure out the basic costs you need from your State Commission fees/ dues, and on top of that your Realtor board associations. You can also find out how much it costs to take all the required classes, exams and prep-exam courses if you wish. That would be the minimum you will need just to have a licence. On top of that, alot of people say 6 months of living expenses, at minimum. I think that's a good number, assuming that you will be in business in/ around 6 months.

Some agents do get their first few transactions within the first few months. But the amount they make is generally very very little. So, do consider this factor seriously also.