Can anyone tell me what the fees are for Prudential? How much would a new agent have to pay to sign up with them, what's the split usually, and any other expenses you think are relevant too.

The only way of really knowing is to interview the managing broker of that office. Usually, every office is independently owned and operated, thus having different policies. I interviewed with two C21 offices in my town and they had completely different office policies and commission structures.

I would reccomend going to a sales or team meeting too.

You'll get a great feel for the organizational skills of the staff by going through a team meeting.

Thanks a lot for the inputs!

I am with Prudential in Las Vegas and I love it here. I can tell you that the majority of the larger companies have better training than most of the smaller companies. But like someone already stated, each franchise is independently owned and operated, so they have their own business models to follow.

I am interviewing with Prudential Carolinas today. They will be my first interview (of many). I've had informal discussions with a few brokers and agents, but I guess the week of the NAR convention wasn't the best time to start trying to schedule appointments.

I <3 Prudential.

Thank you all for your inputs and I would love to discuss about any real estates or marketing topic with you! Feel free to email me: vannak1@charter.net

that is what this forum is for, hence the title of this website. feel free to post up great ideas and the such.

Prudential is high on my list once I get my license. First of all, they are #1 in our market. The local office is on track to do over $1,000,000,000 in sales here, and we're a "tier 3" market (IE not Atlanta or even Charlotte.)

The split here, as far as I can tell, starts at 50/50 and then moves to the agent's favor as volume increases. Fair enough to have a powerful name behind you.

We took our licensing course at a Prudential office out of convenience. What we did not know at the time was that it enabled us to actually see the day to day action in the office and get a feel for some of the people. What a wonderful opportunity we had! We interviewed several companies, and went back to Prudential. While we have thrived and excelled, we have watched others who licensed with us turn in their licenses and struggle. We are hard workers, and we do take credit for our own success, but being with Prudential Carruthers specifically has made us more successful. We cannot speak to your area Prudential, but we have been very very happy with just the things Prudential as a whole has done for it's agents.
As far as split, we did start off at 50/50 and worked up. We also had no desk fees, free computer use, free voicemail, some free advertising, free websites ( minimal, but still a website) free training, etc etc etc. It will vary from office to office..

There was a book we found with a checklist of questions to ask a broker when you interview them. I believe it was either Your Successful Real Estate Career or Millionaire Real Estate Agent.. check at your book store.. thumb through for that list- It is phenomenal in providing you the questions that you don't know to ask.

To me it seems like getting listings will be moderately easier with a brand behind you. Especially the largest in your area. When you're a new agent you need every advantage.

Be very careful about assuming that a large brand name gets you listings. Look at the OFFICE not the brand.

I interviewed with Prudential yesterday. Be very careful, on top of the 50/50 there is another 8% that comes of your commision for the franchise fee. Also, as far as floor time, I was told that the high producers get more phone time and you have to earn more phone time by producing. How does that work? I was told that phone time will not yeald many leads and that I have to go out and get everything on my own for the most part. They told me they want minimum 4 transactions per year or your out. Who knew they could make such demands being is we are independent contractors, no?

^^^^^^

Is that 8% for all offices or does it vary broker to broker? Does Prudential allow you to have a website and can you link there listings on your webpage? Im not too worried about phone time because I can get a good deal at home and make my calls there. Oh, one more thing......can you work your own hours or do they want you working 8am-5pm?

My Pru takes 6%, not 8.
We all have cool websites with bells and whistles that you can trick out myspace style and link your listings.
Work whenever you want.

What I love about Pru is that it's little, highly effective and classy. They're committed to becoming first in the industry and they're going to get there by supporting their agents who bring in the business. And I'm not lost in the crowd like I feel that I would be at a much larger brokerage.

Hope this helps

Our Pru is also 6%.. really not that uncommon. Never heard of one taking 8% to be honest.

Things like desk time and such are going to vary from office to office. At my office, the top producers dont want desk time, and it goes to the newer agents or agents who need or want it.

Contact your local Pudential office, and just ask tons of questions.

I'm down to two offices.

A) Prudential.

- #1 in this market, 2,400 listings, 240 agents
- 50/50 split and $85/mo desk
- $500 training class.

B) Keller Williams.

- 200 listings, 125 agents
- 70/30 Split, no desk.
- Free training.


I know it's my decision - any comments greatly appreciated.

Based just on what I know about the 2 companies and not your particluar situation, I'd say it's a win-win situation. They both have awesome reputations in the business. Percentage deduction to the franchise is pretty standard, though the amount can vary.

Make your choice based on your best information about the individual offices. I wish you a long and happy career. Real estate is a great way to make a living.

Hmmm..
Prudential has 2,400 listings to 240 agents=
10 listings per 1 agent in the office

Keller Williams = 200 listings to 125 agents =
1.6 listings per 1 agent in the ofice

Obviously, not every agent at the Prudential office has 10 listings, but the opportunity is there.

Even though I am at Prudential, I would consider the following-

KW has a profit share thingy- I will admit to not know jack about it, but I know a few agents who have brought in 5 or 6 agents to KW and do get nice bonus checks. If you know others you could bring into the company, this is something to consider.

Free training is awesome. Our Prudential offered it free, and if it had not we probably would have gone else where.

50/50 compared to 70/30 doesn't matter if you don't sell anything. Where would you have the best opportunity to get listings or buyers? If you already have people ready to do business with you then comission will really matter right away. Something else to look at is whether or not those percentages change when you produce or not. We started at 50/50 with Prudential but only stayed there for 2 months because we did business right away.

Let us know what you go with, and remember , it is never permanent. If you go to one place and it doesn't work you can always go to the other.

Best of luck!

Matthew,

Thanks for your input! I'm not so much interested in the KW profit sharing. I'm selling Real Estate, not a business oppurtunity. But I agree that having that chance is good.

I emailed a few agents at both and have had much more enthusiastic responses from the KW guys. I also found out that this office has only been open for 2.5 years, so it is new and will only grow from here.

Drew

I am very interested in Prudential but there is no Office in my town. The nearest office is an hour away! Im afraid of not getting office time because of the distance.


How hard would it be being an hour away from the office?

Will working at home all the time hinder my success?

Does Prudential allow you to use your own website?


So they have a 50/50 split and take another 6% per sale?

Is it worth it to have the name behind you or do you sell about the same with a local broker?

Aftermath, in our case, the big name here is the local broker. Prudential is a bit of an afterthought here.

I don't think you should work an hour away.

^^^^^

See that was what I was thinking but then I noticed this....

If you look at the last paragraph on the page it says they cover Ukiah

http://www.sonomaehomes.com/

Now if you look at there Office page Ukiah disappears and if you look at there listing there are no homes for sale in Ukiah.

http://www.sonomaehomes.com/sellers_selecta.aspx

Now Yahoo! real estate for my town says Prudential but all the houses are not listed provided courtesy of Prudential but local real estate agencies

http://napa.yahoo.idx.pcrsonoma.com/resu... &firstrecord=0


Does this mean there are no Prudential Agents or Homes in Ukiah???

Now I dont want to work an hour away but can being the only Prudential Agent in my town be an advantage????

An hour's too far for my tastes.

Working at home works well for me, ymmv.

My Pru offers terrific websites - your brokerage may vary - and some of our agents use their own websites too. It's whatever you want to use.

6% off the top then it's 50/50 until you bring in x amount of commissions then it's a better split.

I love having proven systems & marketing tools already in place, something that my friend isn't getting over at her "no-name" brokerage.

If I recruit an agent I get $ right off plus a piece of her commissions. If I recruit a Top Producer, my payoff is greater. (Anyone want to work at Pru in Sac? - I'll split the dough with you!)

I am with Prudential in Las Vegas and I can't stress enough how great it is. Every franchise is going to be different. For example, mine offers:

50/50 commission split to start; split increases as production increases
-also offers 100% with office rent

$75/month office fee
-allows access to the whole office 24/7

6% franchise fee per transaction
-every franchise pays a franchise fee

FREE CE and additional training all the time
-never pay for great ongoing training

Agents get a lot of freedom here. We're one of the largest companies in Las Vegas. We are the number one company in Las Vegas. We have about 40% of the market share! There are quite a few different companies here too. :p

I cannot understand why full time agents would work for a 50/50 split with their brokers with the cost of living being what it is today. I thought 50/50 went out with The Ark.

The 50/50 goes up as you produce more throughout the year.

Just to put in my Thought's If I were going to look at moving to a Large company I would look at Keller Williams or Real Living... I looked into them when I was thinking of moving to a bigger City..