Help choosing brokerage and misc. questions

[Michael Lane]

Peace. My name is Mike and I passed the NY RE Salesperson exam about 9 days ago. WOO-HOOO!! I screamed in excitement as I have always wanted to be in real estate since a teenager. Now I am visiting different brokerages and trying to find the best fit for me. I don't care if the brokerage in small or large but I just want to have some type of training or guidance when I first start although I have learned so much through this website. I have two brokerages I want to visit tomorrow.

But I wanted your opinion on the two in which i will not disclose due to bias.

Option 1- Large business, Will pay for business cards/name badges, have a mentor-ship through the first 3 deals (giving the mentor 25% commission), no desk fee and 55% comm split w/6% franchise fee, roughly $900 to start (MLS and E&O Ins) .. BROKER WILL CHECK OUT BP!

Option 2 - Small business almost mom and pop (not sure how much business they get), Will pay for business cards, no mentor-ship but seems very helpful through all deals, 50% comm split w/o franchise fee, roughly $900 to start too .. Broker kinda snobbish.

Misc questions

1. I grew up and live in White Plains, should I work there and consider location over everything?

2. Is it better to work with a huge business or small business?

3. When you first started what was your first transaction like?

[Nicole W.]

Hey Mike

Congrats on passing! First off those commission splits are crazy half of your money? Maybe that's the standard in that area. I would stay in that area if your familiar with that area and you would be able to work your sphere of influence better. For the second question that depends on various things but you need to like and trust your broker especially if you are giving them so much money. You need good quality training for the first year otherwise you might not last. I'm not familiar with your area and its population. But I have worked for a big named organization got good training but couldn't stand the broker and left to go to a smaller agency that provided better training and better splits and worked better for me. Remember you are making them money, you may hang your license there but in the end of the day you are your own business. You are your own brand. First transaction was hectic because it was my first that it is why it is good to have a broker that is willing to take time to help you learn the business. Remember no two transactions are the same best of luck!