Sorry for the long read! Really have a lot of questions!

Ok, well I live in Albuquerque, NM and am a small business owner. My current business is fairly successful given the economy with a gross of about 300k per year, Its not a single man operation so I don't have to tell you what net turns out to be after business expenses!

I'm not on a schedule, and pretty much handle admin stuff at this point so I wouldn't be 'full time' as in all of time devoted to prospecting, but I'd be available for showings any reasonable time...reasonable to me is 7:30am-8:30/9:00pm

I've been interested in real estate for some time, and think I could be a great agent because of past experience in sales/marketing, and negotiating. I've researched a ton into my local laws, associations, etc but still have a ton of questions!

1. [b]How do you build your business? [/b]My current company uses flyers, mailers, door to door, appointment setters, etc. I'm assuming real estate pro's utilize the above tools, in addition to public record (pre foreclosure/foreclosure)...

[b]2. How do buyers agents negotiate their commission[/b]? Is there a section in the MLS systems that show the buyers agent's commission, or is it negotiated between the listing/buying agents?

[b]3. In your area (I know it varies) is it legal/ethical for a RE Agent to act as a mortgage broker?[/b] Specifically the mortgage broker and the RE agent for the same buyer?

[b]4. How do you go about building B2B referral network?[/b] We get word of mouth from current customers (another industry), but I'm sure that mortgage brokers, inspectors, appraisers, etc already have an established refferal system with established agents, how do you get your foot in the door?

[b]5. In addition to state required insurance (E&O)[/b] do you carry any additional insurance/bonds by choice?

6. In addition to having good people skills, a strong work ethic, good negotiation skills, high morals, and a hell of a lot of dedication/persistence what does it take to make it in this business?

Not trying to have you all do the research for me, but I've searched all over google and still cannot figure out the above.

Thanks!

1. flyers, mailers, door to door are ok, but referrals from friends, family, business associates are the best.

2. In my MLS there is a section that says the percentage.

3. I don't think it is ethical even if it is legal. So therefore I don't pay attention to it.

4. Send mortgage brokers, inspectors business and they will send you business. Established agents in your area I've found are useless for referrals. However you want to have a good reputation with them.

5. I don't, but it's recommended to have liability insurance and extra car insurance if you are driving people around.

[QUOTE] How do you go about building B2B referral network? [/QUOTE]

You can always build good relations with people if you prove your worth to them. Handle transactions quickly, honestly, efficiently with all parties being satisfied and you'll get noticed. Network and you'll find people that don't have their stable of contacts filled yet. Additionally, the more business YOU send to THEM the more you'll get in return.