BPOJoe,

Excellent post. We have been with Coldwell Banker since we started. My wife has a brokers license and we have made the decision to stay with them for several reasons. One is that they have excellent support and put our listings on 350 different websites without us having to do anything.

C/B has the best lead capture system that I have seen from any brokerage. We farm out the leads and farmed out leads provide us with about 17-20% of our income with no work other than an email.

They also have a GREAT legal staff who is there for us if we need it. We get a very good split and our manager looks to us as his ONLY REO agents and has sent us work and contact info from any AM company that inquires. He used to have one other part time REO agent but they fell by the wayside quickly.

So, our situation is unique as we do not compete with our broker he actually helps us any way he can and it does go both ways as our number of transactions helped him become the #1 CB office in our area.

I appreciate your alternative point of view and the clear way it was presented. I look forward to your continued input in the future. You have helped people that you will never know that you helped but, please rest assured that you have helped others with this post.

I understand that this is not best for all but it works well for us.

Thank you and best wishes.

Nicely said Grampa regarding bpojoe's post and thanks for sharing the benefits of being with a broker.

From my perspective I have been on my own but still with a broker. I do not have the support of a broker as described by Grampa and the brokerage does not have the exposure because they cut the ties with the franchise.

So far, I got an attorney to start the corp papers, spoke with my accountant, found an office space and will file for a FEIN, get quotes for E&O, take the broker management class, file papers with idfpr and set my own "closing" starting my business.

I had started typing the question to ask for benefits of being with a broker, because you guys were making me curious. I do see the benefits for some.

I just saw too many agents working under brokers and were so misguided that I would actually get mad. I would just help them out and shake my head.

Well like everything in life, it takes different strokes for different folks. ;-)

reolady123,

Did you post the question about the benefits of being a broker?

I know the number one benefit is not splitting the commission and number two protection of your contacts especially REO and BPO clients. Recently asset management companies have required the broker owner to sign master listing agreements. As broker/owner you can sign and not share your contacts.

At C/B we have a LOT of training available and get new opportunities for education all the time. However, I have seen some dumb agents as well. The training is not mandatory and they did not take it. They also do not perform or even make desk cost. My wife was Asst. Mgr. over 5 offices and was responsible for training. Some agents came to training sessions but some did not. The ones that came are still around. Many who did not are gone.

I would not work with a small brokerage but, like the large one we are with. Everyone's path, desires, and needs are personal and each individual has to decide what they want and why. For those who go out on thier own, may the rewards be equal to the challenges.

Words of wisdom well spoken . . .

I will keep in mind and in my business best practices the initiative to keep up with current training. Our local associations offer excellent FREE training.

Considering doing this myself. I've been in REMAX over 10 years now. I have an awesome managing broker owner who is retiring soon. I want out but I have stuck with him based out of a sense of loyalty. He gave me the nod recently he was close to taking the exit step. I told him I would hang on a while longer for his replaceement but I felt I had to leave. I think he benefits if some solid performers stay and wanted a commitment from me he could pass on to the buyer, but I can't offer that.

My main reason is financial.

He has provided the most awesome environment for me, totally hands off, but a resource if I called on him.

I was a bit fearful of plunging on my own but when I looked at the numbers, it makes little sense to stay with the balloon. I provide all of my own leads now.

I am with you Doin' bpose! I have generated all of my leads and processed all of my closings. I have learned from my mistakes and I am ready to take the plunge to be on my own.

The market is much different from what it was 10 years ago. In my opinion, now is the time to find your next niche.

Doin' BPOS and neighborhoodpro - Heavens - take the plunge! I was with a C21 office for 2.5 yrs, then switch to KW for 2 yrs, but immediately was working on my broker's license when I switched. I hoped KW would give a seasonsed agent higher education but that didn't happen. I was finding answers to my own questions and thought "what the heck do I need a broker for?"

I'm not going to deny when the market is down, money is much tighter. I recently eliminated my office phone since I use my cell phone all the time (savings $50/mo.) and eliminated my second home phone line for the same reason (savings $36/mo). I don't use a call service b/c I want to hear from those agents out there who want to show my listings.

I managed to obtain a contract with a gov't entity for the few listings they may have (small entity) since inception in 2007. I am also doing HUD-owned property listings. You can't do all that in Virginia as an agent b/c the "broker owns all the listings" here.

I've had two agents call me who wanted to go out on their own. One agent was with a large franchise (won't name it). She was doing REOs with an asset manager. When she left that franchise, the broker KEPT the REOs and her master listing agreement. So, I think no matter WHAT a broker tells you, they're out for themselves in the end. We do rattle each other's brain once in awhile for problems we're having, although I think I'm the one they always call.

I don't think your previous broker will REALLY help you b/c once you go out on your own - you are their COMPETITION - so don't count on help from them. I'd be leery of any of their recommendations.

I see enough independently owned companies with listings in our MLS that's it's more than obvious alot of people don't care whether you're small or large - just give the same service, but do it BETTER.

If I took on any agents, they'd have to have their associate broker's license. I can't understand ANY company taking on agents just don't get how to do transactions, do them well, and NOT get into trouble. That would be my greatest fear - bumbling agents causing me pain.

And, YES, I remember that first commission check - all mine, all mine. I calculated what KW would have received. BEST feeling in the world.

Another good feeling is when YOU make the decisions, YOU make the connections, and there's NO broker to take it away from you!

I have started the process. Just waiting for two closings under current broker.

I am feeling better about it each and everyday!

Thanks for the words of encourgement VABroker!!

Looking forward to the first "full" no split commission check.

You will have a lot of people watching to see how you do.

Please keep everyone posted on your progress as I am sure your experience will be very important to others who are not posting but watching for info to help them make a similar decision.

I wish you all the best going forward and will also watch with baited anticipation to see how it works out for you.

When you do it just be sure to watch your cost and don't try to hire a bunch of dead weight agents, just concentrate on your business get a good assistant and go for it.

Awesome advice . . . I will keep everyone posted . . . I love this forum!!