Just passed my RE pre-license exam. Now what?

Question

So I've been focusing on getting my diploma and getting my salesperson license. I passed the exam (So glad that's over) - I don't really know where to go from here.

Do I just start calling brokers?

And once I do start shopping for a broker, what should I ask and how should I... be?

I've never worked for anyone but myself so I've never done interviews and things like that.

Though I am told in Real Estate the roles are somewhat switched because brokers want as many salespeople as possible. Is this true?

Also, is there any further classes/learning I should get before looking for a broker?

Richard Recuset · Answer

Wow! Interesting opinions here on approaching a Real Estate sales career.

Here's my two cents from a broker's point of view with over 20 years in the industry, the last two as a Broker/Owner.

The Broker brand doesn't make a successful Realtor, it's "you" incorporated.

• Try to find a broker (company) that's close to home. 
• If you really want to learn and make money go the commercial route, not residential. FYI- Don't plan on making money the first couple of years in the commercial field. But if you learn and work hard you will be handsomely rewarded in due time.

Beware of those promising you the rose garden:

• We have training-Consist of sending you to the training prepared by the local board of realtors, which is not bad, but you need someone to break things down for you on a personal level. If they do have in house training you will only find out the true value once you attend class. Offer to attend a training class before you sign up.
• We have leads- No broker is going to give you anything, unless you prove yourself first, and you're highly favored. If there are family members of the broker in the company, who do you think has first dibs on leads? If the broker is also a selling broker, well, you know the deal. Anyway, you will find out you have to earn your keep to make it in this business. Those looking for handouts from the broker will be broke and gone from the business sooner or later.
• Superior Branding name- So what's this going to do for you? Nothing!
• One on one coaching- Ask how and with who?
• Marketing- What's this going to do for you? Nothing!
• Latest technology- Like what? What's it going to do for you?
• We have all kinds of meetings and have a good time eating and drinking and spending time together. (Don't walk, run)

Bottom line- People are going to do business with you because of you, not the brand or anything else. It's all about you!

You can join a big brand office and it won't mean a thing. It all depends on the people running the company. The owner of a franchise might be a good leader with industry experience and might not be. Find out!

I suppose nothing much has changed since I started. I've been with big brands and not so big. I learned by making mistakes, getting rejections, working hard, and learning how to get better. I learned who are the good people and who are not.

No elevators to get to the top, you must take the stairs.

Oh! I read in the above comments about offering a discount because you're a rookie. In my opinion, you will be starting off with bad habits. A good broker should be able to explain why. I hope this helps!

All the best,

Kevin Grinstead · Answer

Hi Sean, I am with Keller Williams and it is great. If you would LIKE i can set up a time for you to interview the managing director. We are at 11859 pecos st. They have lots of training and support and even have profit sharing.

Sean Reilly · Answer

I'm in a similar situation. Just passed my exam and am now looking at brokerages in the Denver, Colorado area. If anyone knows of a good brokerage please let me know. Thanks

David Miller · Answer

@Lynn M.

Hello Lynn, thanks for the tip.

I was definitely planning on offering discounted services at the start of my career.

Your post just confirmed what I was planning.

What about desk fees, what can I expect to pay?

Also, I'm going to need to actually learn. How can I go about that?

Lynn McGeein · Answer

Beware of "new agent" brokers demanding charging full commission (6 or 7%) which immediately limits your ability to obtain listings as a new agent -- if you can't offer years of experience or success stories, you need to be able to offer discounted services until you build up your business, but your broker won't let you, requires mandatory duty hours (free labor) and mandatory cold-calling sessions, which, in my opinion, is the absolute least likely way to get business, and usually the only leads they give you are the ones the successful agents in the office don't want and know are a lost cause or in areas I would not go in without my dog and pepper spray.   After I transferred to a broker that charged me a monthly desk fee, minimal transaction fees, and let me lower my commissions, I actually started getting decent listings as opposed to just working my butt off as a buyer agent.

Tim L. · Answer

Hey @David Miller, congrats on getting your license!

I'm also in south FL, and also just passed (yesterday) the real estate license exam. I'm in the same boat as you.  This will be a secondary career for me right now, but eventually I could see myself transitioning more into a full time career if it goes well.  I just want to find the right broker to work with that will help me attain my goals.

I plan on beginning my interview process next week.  Let's link up so we can bounce ideas around each other.

David Miller · Answer

@John Rogers Thank you for the information. I passed the state exam and got my license.

I do want to eventually be a RE investor via flipping property and also being a landlord for steady income. But for now I just want to focus on learning about RE by being a salesperson.

John Rogers · Answer

Did you pass the "end of class" exam? Or... did you take and pass the State exam?

Interviewing Brokerages would be the next step in your career, and it will depend upon what your business goals are.

If you want to be a "traditional Realtor" then look at Brokerages that will focus on educating you to buy & sell to that vertical market. There are entities that excel at that like KW, but be careful of all the "right to breathe our air" fees. Phone calls, desk fees, monthly charges, copier fees, admin assistant fees, how much time do you need to sit in a room and make cold calls, etc.

If you want to be an investor with a license... that is a totally different mind set.

Here, all of us are investors... when we procure a deal for ourselves, we take title in an entity. The entity pays "the Realtor" a commission, then once rehabbed or whatever, gives it back to "The Realtor" to list and sell. In effect, you are paying yourself  to make money.

Good luck on your journey.

David Hunter · Answer

Congratulations on passing your exam, David!!  (Great name by the way)

Not sure how Florida real estate works, but in Ohio we had to have a broker before we could take the exam.

So, yes, go start calling brokers and letting them know you passed your exam.

The most important thing for you to do now is learn the business!  Don't worry about commission splits, worry about getting training.  So, ask what kind of training they offer.  Do they offer mentoring with top agents?

One thing I recommend to newbies is to work as a licensed assistant to a top agent so you can learn the business and make money while learning it.

Then, after you learn the business you need to market the heck out of it!  Get whatever business you can take while you're new.  Listings are where the money is at, but take what you can get.  Ask top agents in the office if you can hold open houses.  Ask top agents in the office if they could refer you to any business (You'd be surprised how many leads top agents don't want to work with... example:  Rentals!).

And, whatever you do remember... This is YOUR business.  So treat it like one.

Just passed my RE pre-license exam. Now what?

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