Hello

I have been thinking about making a jump to Exit Realty. I like the Broker I have now, but I am looking at obtaining my Brokers license in the next 6 months. I have been doing mortgages since 2001, but have been a licensed Agent for over 2yrs now. I believe I need a little more support and experience before opening my own office. I had my own Mortgage Company previously. The Manager at Exit has been training agents for over 20 years. I have done some homework on the guy and I am impressed. My current commission split is 100%, but I don't have the support I need. Exit split is 70%. Does anyone have any suggestions about what I should do?

Please be honest......

If you are going to get your brokers license in 6 months why would you want to switch for 6 months? Unless of course you are just getting your broker's license for fun.

To answer one would need more information. What are you trying to accomplish? What are your goals? What's important to you? Why are you wanting to start your own real estate brokerage? Do you have a mission statement?

As far as EXIT: when I was a salesperson, my broker went through umpteen name changes, shapes, forms, and now she's on EXIT. From what I could see and read, there's more to the income than just your commission split. There's also the SLM (single level marketing) aspect (residual income) to consider. As far as EXIT as a real estate franchise, (IMO) it just couldn't be beat. I didn't go that route because it's more for established brokers who can put up the franchise fee and for those who can meet the demands on the number of agents they require you to recruit in a certain period of time.

But if I were EXTREMELY concerned with training, I'd look more into working on a team or going someplace that offers training in the form of a training center . We have one here in town. They strongly urge all new agents to work out of the training center for the first 6 months or so. They have a staff there to assist them along with the instructor of the real estate course.

Without knowing what your concerns and goals are, those are just some things to think about :-)

I think you're being seduced by the EXIT Sales Pitch.
AND your split is 100% !What specifically do you think is being denied to you?Does your current Broker know this ?

I will be obtaining my Brokers License to have my own shop. I just need more training on the rules and regulations. I am a hands on guy. I know I can take a few classes, but I want to be able to answer questions without telling my client -- let me get back to you on that.

I know the Mortgage game inside out. I know when to back away from certain deals and which deals will close. I would like the same kind of knowledge on the Agent side. I don't need alot of time under someone else. Since I have been an agent, I have been on my own.

My Broker has a small shop.... shall I say 6 agents? My Broker is a top producer and spends most of his time in the field. I need someone a little more accessible.

There is certainly no one real estate brokerage that is for everyone. I think the other posters hit it on the head. What are your goals? What are you looking to accomplish?

The commission splits are important, but what are you getting in return for any commission they are taking?

What is the value proposition being offered by the brokerage?

Here in Minnesota, I am very big on offering value to agents on our team. They need to feel a real reason to work with the group: is it buyer and seller leads provided, fair commission splits, marketing presence, etc.

I hope this helps.

I agree with Ryan's post. Much like a buyer or a seller is looking for an agent that can add "value." What value is a certain brokerage going to add to your business?

Conversely, I'd expect to answer the question "What value are YOU going to bring to their Business" ?

Maybe there's a shortage of Real Estate Agents elsewhere; but in Northern New England, there isn't an empty desk just waiting for every new Licensee who wants to sit there. Many study pass the Exams; but go wanting for a place to hang their License.

Right now I'm not bringing any new Agents on; but if I were, it certainly wouldn't be someone who needs training. And worse than that would be someone who has been in the Business just long enough to have learned bad habits elsewhere (but doesn't know it).

"My current commission split is 100%, but I don't have the support I need"

YOU just answered your own question!

You are with a broker that let's people hang there liscense and pay a minimal closing fee.Obviously the broker has no incentive to be very hands on at that split level.

If they helped you with 10 transactions and they made 300.00 fee every time a closing happened that would be a lousy 3k to the broker.In return you would make huge commissions which is a lopsided deal for the broker.

If you want to go out on your own go with a company that is on a 70/30 or 60/40 split that offers intense training and support and after 6 months when you want to open your own thing you will be better grounded as a broker and more experienced.

Just my opinion but I don't beleive you are going to get intensive training at 100 percent.

Thanks Super!!!!!!

You may not get great training at 70% either-no matter what you're promosed. Have you considered staying at the 100% office and paying for your own trainng, such as GRI, Buffini (he covers business systems not just prospecting), and there are other designations that help you learn. Good luck whatever you decide. Keep us posted.

i do not have time atm to post the reply that i would like to post. here is my short answer.

if you truly want to open a shop in 6 months there is no way that you should be looking for training this late in the game. if your shop was going to start getting up and running in 6 short months you should already know what your responsibilities are as a broker and should not need to be trained as an agent. it seems to me like you are looking for agent related training. the questions that you are asking seem like you are looking to learn the business from an agents perspective. if you really will be a broker you should have skills equal to or greater than the very manager at exit who you are looking to hang your license with. remember that they are in the business to train agents to close deals, not the business of training brokers to open shops down the street.

i have learned that i know the answer to every quesion! you might think that is a very irresponsible statement, however i would argue that it is quite the opposite!


here is my solution to all of my problems that i run into on a daily basis.

1. i have dealt with the situation before and simply go with what i know works in the resolution of the problem. the contract states almost every action and reaction that could occur.

2. if #1 does not work then i cousult an attorney!

if you follow those 2 rules you should be ok.

those answers are from an agent standpoint

to be honest, i am taking my brokers this year! i wont be opening my own shop because it is to cheap for me to hang my license where it currently hangs, but i do want the option in the future if things ever change. from the agent side, i know that i have my basis covered. from teh broker side, i would have to implement a different business plan and system to meet all of the legal requirements and i dont have the time for that right now as that is not something i am really looking for atm.


i would like to ask 1 question that i have not seen posted in the previous threads.


*********why do you want to become a broker and open your own shop?****************

A long time non-franchised office took on the Exit franchise about a year and a half ago. I'm not seeing quality agents making the change. I know when they came town, Exit actively pursued everyone licensed within the last 2 years. Most of their agents are part timers and former housewives looking for something to do. They aren't doing much business besides the core broker/owners.

I don't think the "training" is that shiny, every contract and form they send me is typically a mess.

Plus, their signs are ugly. What marketing pro picked those colors?