I completed my class and got the certificate. I then found a sponsoring broker. It's not a big national company, but the guy from the school told me he's been very successful around here for 30 years. Here's what the broker told me when we met..

-Everybody works out of their house.. He has no office.
-He works very closely with his agents.. He actually goes with you to make a presentation for a listing appointment.
-He provides lockboxes and signs.
-He pays for advertising. He says if you want to do more that he doesn't actually agree to then feel free, he just won't pay for it.

How does this guy sound. It's sounding good to me. He pays for a lot of the things that I assumed I'd have to pay for, so that should help me out a lot.

Nothing you've said sounds negative. Get some more info here on choosing a broker.

I don't think I like anything about it.

Working out of your home is not what it seems. Not having an office to go to can really wear you down. What I mean is, if you don't have the option to go into your office and work, you might start to get lazy and not do anything at home. I love living close to my office because I can show up anytime I want to get things done. If I didn't have an office to go to, I think I would get too lazy at home and never make the time to do anything.

I also wouldn't want my broker working that close to me, especially on listing presentations. I would feel very restricted. Maybe it works for some people, but I like my own business space.

The broker providing lockboxes and signs is good I guess. I look at it like it's just another expense of doing business though.

Most broker pays for some sort of advertising. Usually the advertising will not be agent specific though. If they are willing to pay for your advertising, then have at it.

One more thing I wouldn't like is training. How much training are you going to be getting? Is it going to be good training? I am all for starting out with a large company because of the quality training most give. I wouldn't start out with a no-name company that has no reputation and little training.

You are right.All depends what kind of person you are.For some people it works great and some not.i think having office space is not bad idea but I would not go for big place.You never are going to have so many agent in the place at one time.

I agree that working out of your home is not all its cracked up to be. Especially if your a new agent, who needs training, and needs to learn the ropes. I have the option of working out of my home or going to the office every day, and I choose to go to the office for the most part on a daily basis. I seem to be more productive in the office environment. I also think it is good for new agents to be in the office amoung more experieinced and productive agents even if it is just to mingle a bit and discuss different situations, and the current market. I can't immagine as a broker trying to oversee agents especially newer agents when there is no office involved. I'm not saying it's not possible, I just think it would be much more difficult.

I agree about the home office situation. A great deal of my real estate education continues to come from my co-workers in the office setting. And clients may shy away if they have to visit your home to do business. They will feel like they are invading your space. A lot of people even hesitate to make after-hours phone calls. I always tell my clients that I don't mind being called at home.

I also wouldn't want my broker working with me constantly. When you're new it's one thing, but a competent agent should be left to do his own work. The broker should be available for backup, for those quirky situations, problems, etc. If it takes 2 people to do a listing presentation, something is wrong.

What kind of commission split does this guy get, compared to the other companies in your area? If the other brokers provide a desk, phones, some supplies, some advertising, training, and other basics, will you be handing over the same money as you would to Mr. Home Office?

IMO, this is a less-than-ideal setup.

I have to say if the system the broker is using has been working for 30 years it is worth a shot. I do agree though that if you are home all the time you may not get motivated. But thats part of this business. You have to be self motivating. I go to the office almost daily and even on days off seem to end up there working on something. Without an office you wont have walk ins which if they come in instead of just grabbing all the publications out of the boxes out front usually are pretty good leads. I have to say though that you need to spend time out and about meeting people, attending community events and just getting your name out there. I cant tell you a big brokerage isnt better but I have heard that a lot of them just say heres your desk basically. A broker that is willing to answer questions or help is the best training you can get. Good luck!

Starts w/ 50/50. He said he has a sheet he'll show me that gradually gives me more money as I go

For a 50/50 split, my broker provides a new agent with all the office amenities except personal items like business cards, desk items, etc. We get the benefit of a receptionist, bookkeeper, and closing agent. If my company told me I'd now be working from home, I'd say I need a 75/25 split.

Agree 110%! 50/50 split and he dosen't even have an office? I bet he is smiling all the way to the bank after every closing! I can't immagine he has a lot of agents at the 50/50 split unless this scale is typical for your area. Why would you choose no office over other Brokers that offer office, phones, computers, internet, receptionist, desks, conference room, etc..

Because I need to start part-time and this guy was willing to let me start out that way. We start my training next Thursday

WOW... No wonder he's been successful for over 30 years! With a 50/50 split, no office & minimal expenses... he's able to sit at home all day napping & get a paycheck.

I don't blame him! Pretty smart broker IMO!

Best of luck to you & let us know how you're progressing!!!

No it definitely isn't. I worked out of my home for 12 years (not real estate) and started to really miss not having someone there to TALK to, for one thing. I'd have to schedule lunch just to get out of the house, LOL.

The other day it was raining and my DH was doing some repairs in the house and I went to my office just to get out of the way. I was just going to check some email and relax, and the telephone rang. I was the only agent in the office. It was a sign inquiry and I made an appointment to show a few houses to the customer the next day. He made an offer on one! If I hadn't been at the office...

It was a sign inquiry and I made an appointment to show a few houses

Was if your sign? If he/she ask the agent by name, don't you have to pass the leads to whoever
put up the sign?

No it wasn't my sign and if the agent was out and they didn't ask for them by name it's your up. It happened to be from another office and I didn't even know which agent had the listing. If they ask for the agent by name (they usually just call the agent in that case, we have our cell #s on the sign) it goes into the voicemail or if they're in the office, we transfer the call. If they just say "I'm looking at 42 Smith Street, how much is it" it's your customer.

It's the total opposite for me. I would not want too go to the office everyday. Although I do have one...home office is for me!!

Angie

I don't think having a home office will be a problem for me getting work done. I am very self motivated and will do what I have to do from home. My only thing is when I meet people for appointments I have no office to go to. I guess I'd have to do it at their home or a starbucks or something.