I'm a recently licensed agent, looking to start my career. The problem I was faced with was the fact that alot of companies charge so many fees to get started. I knew I would have to put out some money but I became a bit frustrated when I started visiting companies. I finally found a company that doesn't charge any fees, the only problem is the company only works with buyers. I'm a little skeptical because I feel this prospect is to good to be true. I don't know alot about typical real estate offices so I don't know what the pitfalls would be in comparison to just being a buyers agent. the one thing I do know is that I will miss out on making any money on listings which I'm ok with for now. I feel like I can get some great experience without dealing with the listing side right now. PLEASE HELP!!!!!

Companies that do not accept listings are typically known as EBAs or Exclusive Buyer's Agents.

They feel that by only representing buyers they are able to deliver a higher and purer level of representation than traditional companies that work with both.

Like anything, there is disagreement in the real estate community about this concept.

Personally I would rather have the listing because even if a buyers agent sells it I still get paid plus I have the best opportunity to sell it myself and earn all the commission.

You can put a lot more signs in yards than you can buyers in your car.

Why not consider working in partnership with a more experienced agent letting them pay part of your expenses in exchange for you getting a bit smaller commission initially until you get more established and build up some cash reserves.

I know several agents in my office that work buyers for heavy listing agents and do very, very well.

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Jim Lee, CRS, ABR, GRI, e-PRO
Realty Executives Associates
Knoxville, Tennessee
http://www.KnoxvilleMLS.com
Jim@KnoxvilleMLS.com
1999 REALTOR of the year, Knoxville Association of REALTORS

I am not an attorney and am not giving you any legal advice. This response is only given for information purposes and should not be construed or substituted for legal advice.

The company I'm associated with is a small independent company with only eight salespeople. I work with both buyers and sellers and I pay no fees whatsoever. My commission split is fair and competitive especially considering the amount of leads and business referred to me by my non-competing principal broker. I'm very happy where I am and can't see myself leaving anytime in the near future. So if you're looking to work with both buyers and sellers and don't want to pay alot in terms of fees, check out a similar company in your area.
However, do so with the understanding that the training program will not be as comprehensive as you would get at the larger national franchise companies. So look for someone who will mentor you personally or team you with an experienced and successful agent/broker because mentoring is essential because if you're left to either sink or swim with little guidance and direction you'll probably be among the 80-90% of new salespeople who leave the business soon after starting. Good Luck.

In general the "product" a Buyers Agent has is the concept that they have "Superior knowledge" and that that will be supplied to the Client Exclusively.

As a New Agent... I think that would be a hard sale.

I know of several area companies that have Listing Agents, Buyer Agents and some that do both. The Failure Rate for Buyer Agents is much higher and from what I have seen only very seasoned and long term agents are successful in the Buyers Agency... they already have a built in referral client base from years in real estate.

New Agents should associate with a company that will provide training and mentoring.. With out that... you stand a very good chance of being one of the 90% that are out of the business in two years.

New Agents should Worry less about the immediate commission split... try for minimal fees... that way you will not be going backyards the first few month.


Just a little input... when talking with brokers ask about training and support first NOT about commission splits. Know what is most important. I know brokers (including myself) that will almost immediately cross off any agent who's first questions are about money.... we know they don't have a grasp of what a task they are facing... your typical real estate class only teaches you how to pass a test... and NOTHING about real world real estate in actual practice.

[This message has been edited by Realty Check (edited 05-08-2004).]

Thanks for the advice!!!