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#377678 - 06/01/11 07:17 PM Where to start
ShaneChua Offline
Junior Member

Registered: 05/19/11
Posts: 1
Loc: CA, Orange
I recently passed my salesperson test and I interviewed at two companies that I could possibly work at. What should I look for when I pick where to work at? They both offer training but one offers 60/40 vs 50/50. Is there anything else I should be looking for besides good training? Thanks


Edited by ShaneChua (06/01/11 07:18 PM)

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#377680 - 06/01/11 07:28 PM Re: Where to start [Re: ShaneChua]
VABroker Offline
Veteran Member

Registered: 11/02/10
Posts: 848
Loc: Virginia
In your first year or two, don't worry so much about commission splits - focus on who will give you the most training. Alot of real estate can be trial and error in the learning process. Read all you can - daily - because changes are happening all the time - new requirements, new disclosures, etc. Take relevant classes beyond your "required mandatory" classes. After a few years, you'll know when you REALLY feel comfortable in working transactions.

I was with two different national franchises - learned what I could, and, learned alot on my own. When it came to where I was learning more on my own and STILL craving more (and always will), I knew I was then ready to go out on my own.

One excellent place to learn about the mistakes NOT to make is to go to your state board's website. See if they post confirmed violations on the website. Virginia's board has the violations with a short transcript - it's extremely interesting reading and a HUGE educational tool.

Get the education - the additional dollars will come later.

Good luck to you!

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#377687 - 06/01/11 08:38 PM Re: Where to start [Re: ShaneChua]
jducey Offline
Member

Registered: 05/17/11
Posts: 68
Loc: New York
Yes the most important is to find a good broker or mentor to teach you the ropes. Learn all you can from whoever will teach you. Some will have to be trial by fire, but the more you learn, the easier it will be.

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#377735 - 06/02/11 10:00 AM Re: Where to start [Re: ShaneChua]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 709
Loc: London, Ontario
50/50 & 60/40 both seem to be a bit extreme splits. Is there a cap or number of trades that you reach and then you move to a 90/10 split? If so you should compare what it will cost you reach that level with both brokerages.

But as others have said don't worry to much about the split at this point figure out which 1 will contribute more to your long term success ... ie better training or more leads.

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#377989 - 06/03/11 09:48 PM Re: Where to start [Re: VABroker]
Andy Perkins Offline
Member

Registered: 05/14/10
Posts: 300
Loc: Los Angeles
Originally Posted By: VABroker
One excellent place to learn about the mistakes NOT to make is to go to your state board's website. See if they post confirmed violations on the website. Virginia's board has the violations with a short transcript - it's extremely interesting reading and a HUGE educational tool.

The California DRE does post this online (LINK). Most of the more serious enforcement actions are levied against brokers, but it should nonetheless be an eye-opening opportunity to learn why employing brokers can be so nitpicky about your paperwork and ESPECIALLY(!!!) about trust funds...

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