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#343268 - 07/07/10 08:39 PM So I had my interview...
295yards Offline
Member

Registered: 07/06/10
Posts: 21
Loc: Canada
that I thought was not an interview?

I went to meet a broker to just ask questions, and it was obvious they want me on their team.

Should I be excited or concerned?

I asked all the questions I wanted and feel pretty good about what I heard.

No office fees for newbies and a 70/30% split with a proposed "amazing training" program.

It almost seems too good to be true.

Why does it seem brokers are extremely eager to hire me?

Do brokers actually turn anyone away or are they willing to suck the life out of anyone who is willing to put everything into jeopardy just for 3-4 split commisions per year?

FWIW, this broker said if I followed the examples they taught me I would easily sell 12 homes my first year to capture a $40,000 safety net income.

Realistic or snake oil sales tactics?


Edited by 295yards (07/07/10 08:40 PM)

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#343269 - 07/07/10 08:45 PM Re: So I had my interview... [Re: 295yards]
MHT Offline
Member

Registered: 12/24/09
Posts: 256
Loc: Ontario, Canada
Sure it is possible if you are willing to work at it. Most expect the business to come to them which is not the case. And yes, the majority of brokerages will take on anyone with a licence.....it is a numbers game.

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#343323 - 07/08/10 11:05 AM Re: So I had my interview... [Re: MHT]
IndyDawn Offline
Member

Registered: 07/08/10
Posts: 25
Loc: Indiana
Interviewing should be done by you the new agent. You need to interview companies that you want to work for. They all want you. You should look for office staff personalities, Principle Broker personalities. Speak with some agents from the group. Ask questions you would like to know. Almost any brokerage will work with you on training and commisison splits.

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#343334 - 07/08/10 12:01 PM Re: So I had my interview... [Re: IndyDawn]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4725
Loc: Vermont's North-East Kingdom
Originally Posted By: IndyDawn
You should look for office staff personalities, Principle Broker personalities.

That would be "Principal" Broker. Principles are the values they operate by (or fail to operate by).

Just a thought in case you want to send a Thank You Note . . . . at least you can spell the Guy's Title correctly !
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#343337 - 07/08/10 12:16 PM Re: So I had my interview... [Re: Vermont]
Perky_REALTOR Offline
Mod Squad
Major Contributor

Registered: 11/27/06
Posts: 7685
Loc: PA
If your IQ is above 20, you have a current valid license, are able to pay your dues and fees, and you can ambulate without assistance, most brokers are eager to hire you.

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#343376 - 07/08/10 02:30 PM Re: So I had my interview... [Re: Perky_REALTOR]
super realtor Online   content
Major Contributor

Registered: 05/01/05
Posts: 8478
Loc: georgia
I am not eager to hire anyone. If I bring someone on board it will be on my terms.

I have learned new agents suck up alot of your time in training and questions.My own deals bring me much more revenue than training agents.

Eventually I will have a commercial agent team I am building but for now I am good.

If a new agent does 4 deals in a year at 200k then that is 800k in sales times 3 percent is 24k in commissions and my share would be 7,200 which comes to 138.46 a week I am making off that agent before expenses.

So after agent expenses that value is much lower.I did have many agents but pared down because it was taking to much time from my own deals.

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#344335 - 07/17/10 01:21 PM Re: So I had my interview... [Re: super realtor]
Sally S Offline
Member

Registered: 07/17/10
Posts: 49
Loc: Indiana
That first year will be tough. Depending on sales prices in your region and how how you are willing to work at it. Take advantage of any training programs you can get.

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#344401 - 07/18/10 07:28 AM Re: So I had my interview... [Re: Sally S]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 709
Loc: London, Ontario
You pay money to the broker, they don't pay money to you.

IMHO, it's the Agent that hires the Broker.


Edited by Kjmendy (07/18/10 07:28 AM)

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#344407 - 07/18/10 08:21 AM Re: So I had my interview... [Re: Kjmendy]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4725
Loc: Vermont's North-East Kingdom
Originally Posted By: Kjmendy
IMHO, it's the Agent that hires the Broker.

Oh, I see . . . . then it's the Broker who is supposed to be an Agent of the Agent; not the Agent being an Agent of the Broker.

Thanks for straightening that out for me !

Now, how's that vicarious responsibility thing work ?
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#344416 - 07/18/10 09:30 AM Re: So I had my interview... [Re: Vermont]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 709
Loc: London, Ontario
Originally Posted By: Vermont
Originally Posted By: Kjmendy
IMHO, it's the Agent that hires the Broker.

Oh, I see . . . . then it's the Broker who is supposed to be an Agent of the Agent; not the Agent being an Agent of the Broker.

Thanks for straightening that out for me !

Now, how's that vicarious responsibility thing work ?


Clearly the agent and broker have different responsiblities in the relationship, and certainly brokers can decline to work with certain agents.

My point is that the agent / broker relationship is not the same as getting hired as the new sales rep at "Dunder Mifflin Paper Company". An agent needs a brokers services and effectively "hires" a broker to provide them, and pays for these services via a commission split agreement and other fees.

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#344446 - 07/18/10 01:44 PM Re: So I had my interview... [Re: Vermont]
JackREO Offline
Veteran Member

Registered: 09/02/08
Posts: 761
Loc: Massachusetts
I would agree with you when it comes to the ultimate responsibility resting on the broker. However, the caveat I would add is that just as you will decide who will or won't work under you, I, as an agent, will decide who I'll work with. It has to be mutually beneficial or it's a waste of everyone's time. Agents need to realize they're but a tentacle radiating from the octopus that is the broker. If the body of said octopus is damaged, the tentacle attaches elsewhere, is the tentacle is damaged, cut it off and grow a new one. If both parties realize it's a symponic relationship, it works nicely. If either believes they excercise ultimate control over the other it may not be a smooth relationship. My broker and I interviewed EACH OTHER. We each had our wants and needs and believed we could satisfy each other. That was 11 years ago and we've never looked back. Agents need to realize just what the broker/owner brings to the table; a francise, a reputation within the industry, knowledge, education, back room functions, credibility, funding and such. Brokers also need to understand what the agents bring; market share, enhancement of the reputation, income, knowledge, education, and such. When both deal from a position of mutual respect rather than a position of power it becomes a successful business arrangement for all. To those agents that believe the grass is greener, I would caution that the greener may be due to it's being over the septic system. To those brokers that believe agents are a necessary evil, I would say you're fostering the wrong working environment. Mutual respect and open communication or it just won't work.
And, just to be clear Dale, I've read your posts and would have NO qualms about working with an organization like yours.


Edited by JackREO (07/18/10 01:46 PM)

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#344594 - 07/19/10 07:20 PM Re: So I had my interview... [Re: JackREO]
Vermont Offline
Major Contributor

Registered: 04/12/08
Posts: 4725
Loc: Vermont's North-East Kingdom
Originally Posted By: JackREO
And, just to be clear Dale, I've read your posts and would have NO qualms about working with an organization like yours.
Thank you Jack. I'm always flattered that anyone reads what I write. I find this Forum a valuable place to organize thoughts . . . . and hope that if I've got "wrong thinking", then someone here will straighten me out before I get bumped off by someone I'm doing business with.

I'll let my Wife know your thoughts about our organization. She's the only Broker working for with me now.
_________________________
Dale C. Hittle of GOLDEN RULE PROPERTIES in Glover, Vermont
Where We're Always Striving To Put Together "THE FAIR DEAL"

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#352590 - 09/28/10 10:24 AM Re: So I had my interview... [Re: Vermont]
Brent Mitchell Offline
Member

Registered: 07/30/08
Posts: 55
Loc: TX
You need to interview as many brokers as you can to find the fit that is right for you. Get a feel for the people you'll be working with, the training, the support, etc. If you are willing to put in the effort to grow your business, make the effort to find the right place to build your career.
_________________________

Brent Mitchell
Keller Williams® Realty
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