Hello-

I started back in real estate about a month or so ago after being out of the business for a few years.

I went with a successful local broker who has a lot of REO properties.

He told me I could work with him doing open houses, door-knocking and otherwise advertising his REO listings and he would give me leads that he gets from folks calling the office on those listings. I could also get buyer or listing leads from folks I meet at opens and from door-knocking.

My broker is willing to provide signs and flyers for these opens and my other marketing efforts- but they have the broker's name and the office number on them, not mine. The broker did; however, have his office manager print me up some business cards for the open, but these read, "my name, assistant to Broker's name," so I'm not sure if people would really feel confident in contacting me to write and negotiate a contract for them. If they wish to make an offer - they may still just call the broker direct.

The broker also asked me to set-up a Lead Capture Text system where folks can text in to get info on the homes. I did this, but the text response info they get also only has my broker's name and number - not mine. I do however; get copies of the cell numbers from the folks that call, so I can try to call them as a lead.

I asked my broker if I could set-up a website or otherwise market my self as an agent - and he stated basically not while I was working with his listings.

I know if I keep on working the opens, door knocking, etc. and working those leads, I may get some clients eventually – but I just don’t think this is the best fit for me. I feel like an idiot advertising someone else’s property knowing many folks will call the office not me and I may very likely never get the call. Also- I can’t really get my heart into it because I can see that there is a limited return on investment of my time and energy.
I was an independent agent at my last brokerage and pretty much could set-up and execute my own marketing strategies with my name and contact info - and I was happier doing that honestly.

There are only about 5 REO listings currently -and I have not received one lead from my broker from someone that has called into the office on these homes, but I do know my broker showed and sold one of the REO just last week.

So - I feel like either the broker thinks I am a chum and just wants to see how long I will market his listings for him for free - or there is some master plan here I am not aware of or understanding.

Is this normal? Has any agent had success with this sort of program? I know this RE office does a lot of deals, but it doesn't help me if I can't start doing some of my own here soon.

Other issues are that I could really use some good sales training from this broker and I know he is very talented in this area. That being said, his sales strategy is very Old school sales tactics (Mike Ferry) and isn't something I feel comfortable doing myself since that is just not me, I'm more a Jennifer Allan sort myself.

Also, the broker is very busy working with his REO's and doing his own sales and isn't in the office too much or very available for training. He says I can come ride with him in the car and get some training while he does his REO stuff - but I don't know that that will be sufficient. Either you’re a broker and manager - or you’re a sale's guy/REO guy - I don't know that anyone is able to do both full-time.

Anyhow - sorry for the super long post any feedback would be appreciated.

Why did you ever leave your last brokerage? Are they still in business? Can't you return there?

When you say "chum"; I think you mean to say "chump". That last word seems more applicable to the situation you describe.

Most of the Licensed Assistants I have known have received a Salary of $25,000 to $30,000 OR a $10 or $12 Hourly Wage, PLUS a Bonus based on the Broker's Production.

Right now, I don't think there are any Paid Assistants in our area that I would recognize as such . . . . a luxury that most Brokers can't quite afford in this economy.

I moved out of state. So - I can not join my old brokerage - but I am thinking of looking for a new opportunity that is more suited to my needs/objectives. And yes...I did mean to type CHUMP, just a typo sorry.

Does he at least pay your REALTOR Dues, MLS Fees and E&O?

Ah..Big, "No." on that. In fact he told me to go to a local photographer to get my photo taken for my business card. My broker is suppose to pay for all marketing including business cards according to the contract I signed - so I assumed the photo would be paid for by the broker since he asked me to have my photo taken and told me where to go. When the bill came due - he told me that I pay it and then the photo is mine. So that was $200 I didn't really expect to pay - but oh well - I guess I will have a good photo for the next broker I work with. This was my fault for not asking enough questions and being too trusting- but it was the start of feelings of real mis-trust of this whole situation.

He is using you as a gopher to handle the grunt work for free and is saying I will pay you nothing but if a buyer calls on one of the properties you can make something off of that.

Wouldn't be a bad deal EXCEPT he has his name on everything which directs buyers to him. So you are just the grunt and I would leave quick as you are being used.

Thanks for all the feedback. Your responses are confirming my gut feelings about the situation. I really appreciate your time and value your input.

Sounds like you got a raw deal. I would spend the rest of Friday focusing on finding a new broker. Once you decide to move on, move on. Best!

That sounds like where my original arrangement was headed. When I realized the magnitude of not being allowed to have my own website, I had to get out.

Good luck - you know this is going nowhere and you must go somewhere else. This is a bum deal.

And I would never ever ever pay $200 for a business card headshot.

Sounds like you know what you need to do already...Move on.

Ya I would move on.

I don't really see too much wrong with the set-up - I worked as a licensed assistant for a year under similar circumstances with the understanding that I was committed to being and staying an assistant - not just using the broker as a stepping stone to my own real estate career. He did, however, pay all my expenses, but I was on 100% commission (I got paid when he got paid). It actually worked out well for both of us, while it lasted, but I went into it with a different end-goal in mind...

If your goal is to build up a business for yourself, then you're not in the right place.

But this sounds to me like this broker is using her to do all his grunt work at her expense without giving her the opportunity really to get paid.

It's not uncommon for someone to promise an assistant a piece of the pie to get them to work for them...and then turn around and find some way to get out of sharing the pie in the end.

Jennifer I think you missed it here. From what was posted my GUT feels that this is a raw deal that at best needs to be negotiated or she needs to leave.

I don't see she is being paid a salary or given leads. I see she is being used to perform grunt actions meanwhile all correspondance is being directed to the broker. What the broker is doing is incubating,using,and controlling the agent. If she was allowed to take total control of the leads that came in and work the buyers then that is not a bad deal.If he doesn't want to split commission he should at least give her something for helping out.

I think you're right - I did misunderstand the original post. But in reading it more closely, it appears that the broker is either clueless or misunderstood what the OP wanted from the relationship. He's obviously treating the OP as an assistant, so maybe there's some confusion that can easily be cleared up! Keep us posted please!