Multifamily Agent Advice

[Brock Edwards]

Hi everyone, I'm a newly licensed agent and I'm already with a great company that is more focused on SFR's, but I am interested in multifamily properties and eventually doing my own syndications. Is it helpful to go into a company that focuses on multifamily and learn the ropes through them? How long does it take to establish yourself vs. residential? Any guidance would be helpful.

[Marian Huish]

Congratulations on becoming newly licensed @Brock Edwards!  Typically most real estate brokers are focused solely on residential or commercial sales- very few permit agents to sell both, largely due to liability reasons.  Residential brokers are not generally trained in commercial sales so of course their risk is high when agents conduct commercial sales.  Alternatively, commercial brokers like CBRE, M&M, etc. won't take on 'residential agents as they're not in the business of training agents and even experienced agents work at a 50/50 split with the brokerage taking a large share of your commission.  You might want to check out EXP Commercial as they have on-line commercial training and offer agents an 80/20 split across the board with a $20K cap-  (only $16K Cap for residential agents) so basically, you will only pay your Broker (eXp) $20K per year regardless of how much you sell.  While eXp Commercial is fairly new (and separate from eXp Realty), it's definitely worth checking out.  Also highly recommend networking with local meet-up groups and of course engaging more here on BP.  Best of luck!