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#463244 - 01/07/19 06:03 PM Finding a broker...
Bill Ryder Offline
Member

Registered: 10/06/18
Posts: 10
Loc: Tampa, soon Philadelphia burbs...
Hi,

I'm taking the PA test soon. I've read the posts about what to ask a broker, different aspects per broker, etc. Searches haven't turned up this specific question:

How can I find/determine brokers that I should engage to see if I might be a fit? I mean, what do new agents do? Aside from contacts I may randomly have, are brokers typically open to cold calls from potential new agents? Should I just search for a list of brokers by geography?

Thanks!

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#463246 - 01/08/19 06:52 AM Re: Finding a broker... [Re: Bill Ryder]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2357
Loc: Outer Banks
Call all of them or walk in the door and ask for an intervue. Then you conduct the interview to find out if you want to be there NOT if they want you.

You are looking for a company who offers a lot of training. Once you get your license you wll know nothing about getting clients and closing them.

Commission splits and all the other stuff are meaningless if you don't learn how to make it happen.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#463279 - 01/09/19 10:09 PM Re: Finding a broker... [Re: Bill Ryder]
koz Offline
Member

Registered: 02/19/17
Posts: 14
Loc: pa
I wouldn't say splits are meaningless by any stretch.

I've seen a lot of potentially good agents-in-training have to get other jobs and really just derail their RE career because they couldn't afford it, their brokerage started them so low, and took huge fees out, and the agents just didn't realize how bad it was. We all have.

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#463280 - 01/10/19 07:56 AM Re: Finding a broker... [Re: koz]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2357
Loc: Outer Banks
Originally Posted By: koz
I wouldn't say splits are meaningless by any stretch.


I didn't say that. You took my comment out of context and twisted it.

I have seen a lot of new agents go to the company with the high splits and subsequently fail because nobody showed then what to do. An agent who learns the business can absolutely make it on a 50-50 split if they learn how to make sales. 100% of nothing is nothing.

Part of becoming a good agent is realizing when you are ready to renegotiate your split with your broker or move on. Keep the ego at bay and learn your trade.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#463285 - 01/10/19 07:31 PM Re: Finding a broker... [Re: Bill Ryder]
koz Offline
Member

Registered: 02/19/17
Posts: 14
Loc: pa
Agree to disagree on that one, even the ones that do make it at 50/50 would be making it a lot better at 80/20.

A lower split, at least in my neck of the woods, has nothing at all to do with better training.


Edited by koz (01/10/19 07:32 PM)

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#463286 - 01/11/19 06:59 AM Re: Finding a broker... [Re: koz]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2357
Loc: Outer Banks
Originally Posted By: koz


A lower split, at least in my neck of the woods, has nothing at all to do with better training.

Who ever said it does? Stop putting words in my mouth. I said to look for a broker who offers training over commission split.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#463290 - 01/12/19 02:52 PM Re: Finding a broker... [Re: Bill Ryder]
ALSTIEL Offline
Member

Registered: 08/17/18
Posts: 20
Loc: Pa.
You need to find the broker you can work with. As I said in another post, are they hiring another body or are they looking for someone that they can grow into a productive agent for the brokerage?

This is a business that revolves around "YOU". It's what you put into it.

Many fail because they've been sold a bill of goods that if you come here you're going make big money. No one sat down with them and said here is the path to success and lets start you on your new career.

Your first year is all about the training, building of your confidence and getting you on a path for success.

You can't succeed without putting bodies in front of you be it sellers or buyers.

I see it in my own brokerage when I go to classes. Many are for experienced agents and guess how many show up, maybe seven or eight out of a brokerage of 225 agents?

And guess how many are making nice coin? Maybe fifty out of two hundred and twenty five agents at the most.

We're having a luncheon - sales meeting on the 23rd. The broker always has this monthly meeting catered by the local County Club. If forty to fifty show up I'd be surprised.

I joined this brokerage because of three things.

1. The broker knocked my socks off in the interview.
2. The extensive training program they have.
3. The best split I could find among the agencies I interviewed with.

What you're looking for should be the same list I have in that order.

There is no truth to lower splits means better training. Lower splits just means the broker can get away with paying lower rates because agents keep coming in the door and staying.

The higher splits just guarantees that your productive agents are not going anywhere. It also helps recruit better quality agents.

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#463291 - 01/12/19 03:11 PM Re: Finding a broker... [Re: Bill Ryder]
ALSTIEL Offline
Member

Registered: 08/17/18
Posts: 20
Loc: Pa.
You need to find the broker you can work with. As I said in another post, are they hiring another body or are they looking for someone that they can grow into a productive agent for the brokerage?

This is a business that revolves around "YOU". It's what you put into it.

Many fail because they've been sold a bill of goods that if you come here you're going make big money. No one sat down with them and said here is the path to success and lets start you on your new career.

Your first year is all about the training, building of your confidence and getting you on a path for success.

You can't succeed without putting bodies in front of you, be it sellers or buyers.

I see it in my own brokerage when I go to classes. Many are for experienced agents and guess how many show up, maybe seven or eight out of a brokerage of 225 agents?

And guess how many are making nice coin? Maybe forty out of two hundred and twenty five agents.

We're having a luncheon - sales meeting on the 23rd. The broker always has this monthly meeting catered by the local County Club. If forty to fifty show up I'd be surprised.

I joined this brokerage because of three things.

1. The broker knocked my socks off in the interview.
2. The extensive training program they have.
3. The best split I could find among the agencies I interviewed with.

There is no truth to lower splits means better training. Lower splits just means the broker can get away with paying lower rates because agents keep coming in the door and staying.

The higher splits just guarantees that your productive agents are not going anywhere. It also helps recruit better quality agents.

I'll give you a heads up. After you pass your Pa. RE Exam, get ready to have your Email and phone blow up. The company that handles the testing sends out a list of all the people who passed, to the brokerages that sign up for it.

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#463293 - 01/13/19 06:48 AM Re: Finding a broker... [Re: ALSTIEL]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2357
Loc: Outer Banks
Originally Posted By: ALSTIEL

I joined this brokerage because of three things.

1. The broker knocked my socks off in the interview.
2. The extensive training program they have.
3. The best split I could find among the agencies I interviewed with.


This is what i was trying to say. Training is more important that splits. If you can find both, great. If u can't find both then go for the training. I have seen too many agents go for the high split with no training and failing.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#463305 - 01/14/19 05:48 PM Re: Finding a broker... [Re: Bill Ryder]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1667
Loc: Cleveland, Ohio
Just about any broker is happy to get more agents, so you won't have any problems finding one, but... it's like others said... you want to find the one that works for you.

Personally, and I tell this to all new agents, go work for a top-producing agent so you can learn the business and get paid while learning! Most agents are out of the business within a year, and the few that do make it past the first year most of those are out of business the second year.
_________________________
David Hunter | RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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