Hi,
I am a new agent located in the Detroit, MI area. I've had my license since March and signed on with a well known company in Michigan. They are not nationally but locally known. When I signed on with them, I was bowled over by the presentation of how much training they were going to give me. Well, it's June and I've not had a single transaction. The training pretty much consisted of downloading a form for me to write my goals on and what I would need to do to achieve them, but not much else as to how to go about doing that.
The manager of my office is more concerned with her listings and when I go into the office, all I hear about is how well she's doing. I have a mentor who is never available when I call her, and I'm totally and completely frustrated. The commission plan is 45/55 for new agents until the desk fee of $15,000 is paid, then we go to 50/50 until another $3,000 is paid, then 100%. They take a 8.5% "marketing fee" whether you're at 50/50 or 100%.
I finally decided to look into a few other brokers, one of them being Keller Williams. I walked out of the meeting feeling as if there was hope for me and was seriously leaning towards going with KW, but when I went in to tell my current manager, I got horror story after horror story regarding their "hidden fees". KW told me the commission split for new agents was 60/40 with a 6% franchise fee that capped at $3,000 and a $18,000 desk fee after which everything was 100%. My manager says that I actually have to pay my desk and franchise fees whether I have a sale or not.
Now I'm concerned that I might be getting myself into another situation that I'm unhappy with and am not sure what to do.
Can anyone out there with any kind of experience with KW please give me guidance?
I'd like to know what KIND of training they give you. I heard a lot of talk from the KW team leader about lead generation, but not about how they go about doing that.
Any information you can give me would be greatly appreciated.