Hello everybody-
I'm pretty new to the real estate business and have been in it for about 3 months. I'm currently working with a very small real estate agency and I'm not all that happy with my current situation. Their training is non-existent, commission split is pretty poor and the only reason why I signed up with them is because the broker is a friend of the family and he promissed me that everything will be ok.

I should also mention that I'm currently working there part time. Gotta family to feed.

In 3 months that I've been there, I got one listing and about to place an offer on the property for a buyer. All my leads have been generated through my web site.

Here's my question. Which brokerage is better for generating leads for new agents? I heard of Remax's lead routing system and same for C21, but they charge high fees and I'm not sure if it's worth it. I do want to go into it full time eventually and I will try to make a wise decision then.

I will be looking for a good training program and their lead generation system.

Can anyone explain how the lead generation system works? How many leads do you get and how many of them are "good quality" leads? Also, what are the fees that you have to pay at these franshises? I know every office is different, but a ball park figure would really be helpful.

I just want to be prepared for the future.

Thanks in advance.

Lead generation is mostly up to you and feeding your sphere of influence. Feeding your database. The numbers game.
As for a brokerage with good training, I choose Keller Williams. Training everyday...you choose which ones you want to attend. Everyone seems very helpful. And there's this camp 4-4-3 training which I am doing right now, which gives you the tools to jump start your business (alot of it is about lead generation).
I am also in Bucks County. If you're interested, I can have my mentor/team leader call you. Just let me know.

Thanks for your advice.

But what about the lead generation tool from the franchise itself?

I understand that this is how it works. For example, when Remax advertises on TV, newspapers, magazines, etc., people visit their web site, search for a house, find the house they like and ask for either more information or a showing. This email is then routed to one of the agents in the area and then the agent works with that lead. But I understand the fees are kind of high and it's not the best place for a new agent.

Is KW doing the same thing? Do they have that type of system also or is it basically, you have to find your own leads?

Thanks again.

I honestly don't know about the lead generation "tool" from ReMax. Maybe KW has one, but I am not sure. KW does advertise in newspapers, magazines, real estate publications, etc... but it would be your direct info for people to reach you. And I know the office has been talking about putting commercials on Comcast for the local school channel.

Yes, fees are high at different companies.
I choose KW because they had flexible training hours, flexible fees (not just one rate), alot of people whom I've spoken to have switched from other companies (which are high producing agents), and the 70/30 commission split.

I appreciate it.

Sounds like their training program is really top notch. Besides a really good training program, are they helping agents in other ways?

I believe they are very helpful, but what do you mean by helping agents in other ways? could you be more specific?

For example, do they assign you a mentor for some time or are you on your own. I know some brokerages do provide a mentor for new agents.

Also, when someone finds a property on www.kw.com and they call the office, are these leads being distributed throughout the office or you have to do floor time to get anything thrown your way?

Those types of things.

Yes, you get a mentor. I meet with my mentor once a week for an hour or so at a time. Then I attend a few trainings a week, and 2 nights a week I attend 4-4-3. They are n't gonna leave you to your own devices.

As for KW.com, I have no clue. I have been so focused on other things I never thought about it. Floor time is available at our office if you want it...your choice. From my understanding, not many leads come from it, but then again sometimes they do. You should really sit down with my team leader. I think you'll get a great deal of insite. He is the former V.P. of PAR or Bucks Assoc. of realtors...I forget. Do you want me to have him call you. He's very cool.

Thanks. That would be great. I'll PM you with my #.

Cool.

I gotta get running. I have do some work and then training from 6-8pm.

But I will keep in touch.

Russell,
You might want to interview with Coldwell Banker Hearthside Realtors. They have 14 offices in the area and CB generally offers great training Fast Start and then the Fast Forward programs and Fast Start training counts as GRI I and CB offers Lead Router as a lead generation tool and does alot of national advertising. KW does little or no national or regional advertising.
BTW I get nothing for referring you to CB. Bet of luck. If I were you I would also interview with several other area brokers and see what each has to offer.

Thanks Paul. Actually the CB office is half a block away from my house and I am planning on interviewing multiple companies, I just wanted to be prepared and not waste my time in the future. Do you know what kind of fees they charge?

Thanks

Hi Russell,
You may have already seen this link, but this gives you all kind of behind the scenes KW info. KW University It even lets you create a guest account. I am not an agent myself, but I have 1 agent that works with KW, and I know they have a pretty cool intranet, and like JoeyB says, they have extensive training - more than any other company I know. Most of my other agents are with small, local agencies. It is hard to establish yourself with a small local agency. If you have only been in for 3 months, try and keep your chin up, even though I know that it sounds cliche. I just know from experience working with agents, that it can be very frustrating at first. But so far you have gotten some great advice. Again, I have to agree with JoeyB. You have to start with your sphere of influence. This means EVERYONE that you know or used to know. Set them up on a mailing list, and if possible, get their emails and set up some sort of newsletter. (You can do free ones with Microsoft Publisher or the like - here are some templates in case you need them newsletter templates ) Make sure you keep your name out there with your sphere of influence. At some point, these folks or someone they know, are going to have to move. Also make sure you send out just listed and just sold (when appropriate) cards to the surrounding area of your listing. The most important thing it seems, is just to keep your name out there.
Hope this helps.

As far as RE/MAX goes, they charge their agents nothing for ANY leads generated through their national/regional/local websites. Zero. They do have desk fees, etc. etc. but nobody gets free lunch.

As far as training goes, they offer more knowledge than any new agent could ever need. The one shortcoming is that RE/MAX relies on the agents themselves to learn it. They have an awesome Design Center with over 1000 different templates of camera ready art, web graphics, web fliers, printed fliers, etc.

As with anything, those that apply themselves and see value will think it's worth it. My 2 cents.

Thank you all. As always, you guys are a wealth of information. And who said real estate agents are like used car salesmen? LOL

Anyway, I am leaning more towards a brokerage that can help me with leads. I think that if I can get training and leads from the brokerage and from my web site, that could be a good combination.

I know everyone says that your SOI is your number one source of business, but in my SOI, half of people are either in real estate or in mortgages. I talk to all of them frequently and they're all aware that I'm a real estate agent. I'm just looking for other ways to generate leads.

Regarding Remax, what are their desk fees? Approximately.

Thanks again.