What Should I Ask A Potential Agency

[Andrew Jones]

I about going to be visiting potential agencies who I'll be paying to work under. To all relators, and anyone who has a suggestion, what kind of questions do you believe I should be asking them?

The usual questions are:
1. What are the monthly fees?
2. How much of a commission do you take off my earnings?  



Can you think of any other questions I can ask to help me make a better decision?

[Maggie L.]

I'd add a few items, some of which potentially overlap.  Any question could probably be asked for developing a business, as well as practicing real estate/getting to know the local market.

1) What sort of training will I receive?

- what is mandatory, how much does it cost (base fee, required books, etc)

2) What support will I receive as a new agent?

E.g. mentor/coach - will they receive a % of what I earn

E.g. Opportunity to work under a more experienced agent as part of a team/group

3) What technology is available and are there any fees (in addition to standard)?

E.g. website, email, mobile app, online advertising

4) Any expectations for new agents beyond certain training?

E.g. staffing front desk, running open houses, required materials to purchase like signs and business cards

5) what support will I have writing contracts?

E.g. talk to broker, experienced agent, example contracts explained

I'd also ask if there's a cap, a maximum amount that they remove in a given year e.g. $25k 

Depending on the brokerage the answer to some of these questions may be nothing. That can be good or bad, depending on what you want from a brokerage.

Feel free to ask more questions/request clarification and I can try to help