After you get your license, then what?

Question

What does the process look like after you get your real estate license?

Is there a traditional application process?

Is there an interview process?

What's the best way to determine what brokerage firm I should pursue?

Are there ranking sites available to determine highest sales/most sales? (I've tried poking around, but have found that information to be difficult to come by.)

Dany Namou · Answer

I believe most firms are quite traditional in their application and interview process. Mine conducted an interview and then let me tour the office and meet some of the staff.

Because there exists such a high turnover rate in this industry, most brokerages will probably be hiring around your area all the time.

I would suggest you sign with brokerage that has the most hand holding for new agents. Starting as  a new agent is quite a daunting task. There is so much stuff you need: marketing, cameras, business cards, knowledge on the different contracts involved, knowledge of the entire process, etc.

A company that makes sure it's agents can hit the ground running (as long as they put in the work) is one that you want.

Trying doing a google search like top real estate firms in xxxx to find best firms. I am sure if that will provide real numbers, but it should put you in the right direction. If you ask your interviewer for these stats, they will more than likely give you the hard numbers.

Kristen Haynes · Answer

Johnathan, welcome to the fun world of real estate! First, you need to choose what type of real estate you want to build a niche in- residential or commercial. If, like most people, you want to assist people buying or selling homes, you'll need to do some digging in your area for the top rated firms. Keller Williams has the best training for newbie agents, in my opinion. Do you know anyone in your area that sells real estate? I would call them and ask for their recommendations. Make a list of five or six brokerage firms that sell a lot of real estate. Once you have your active license, call the Broker In Charge and schedule a meeting. You will be offered a job at all of them, but you need to see which office best fits with your "niche" that you will be developing- for example, we have firms here in Charlotte that specialize in things like "condos and town homes only" (My Townhome Realty) first time buyers, Uptown Charlotte, etc. Think about where you are located, and what type of buyers and sellers you want to work with (milennials, etc)... then, find a firm that markets heavily to that "niche" market. You may want to start off being on a "team", where you share leads and learn the ropes from experienced Agents. Your commission will vary depending on if you are on a team or not- typically, most Agents are paid 70 / 30- that is, the Brokerage firm keeps 30% of your commission. You pay for pretty much everything (advertising, marketing, signs, copies, etc). Re/Max is a good firm in most markets but generally they have more experienced Agents, since most here charge a monthly "desk fee" of around $900, but you get copies and marketing for that, and the "split" is 95 /5. Most new Agents can't afford to pay a $1000 desk fee, so they choose the 70 / 30 split. Please feel free to contact me if you have other questions! Best of luck! Kristen Haynes, BIC, GC, CMRS

Rob Orazi · Answer

Go interview with as many companies as possible. See who you fit with. Talk to as many agents as possible see how well they like their current company. My personal opinion is find the one that understands what new agents need the most and stay with them a year or two.

Dalton Kiley · Answer

@Jonathan Ghrist

Welcome to BP and the Real Estate industry!  After you get your Real Estate license, you should go and interview as many brokers as possible and see which one you would fit in.  I've talked to several brokers, but after a 1-on-1 interview with my KWAZ - I knew it's where I should be and have never looked back since.Now, there are many different brokerages that offer different commission plans.  I strongly suggest you fully understand their commission plans before signing with a broker.  Another thing to really consider is their training program - find out how their system works and how you can learn more.  Keller Williams Realty is known world-wide for being the #1 in real estate training - it's one of the big reasons why I joined KWAZ, plus many other reasons.Did you say that you completed your school requirements and passed the state & national exams?  I'm happy to answer any questions you may have!

Jeff Hite · Answer

The interview process is very informal. I just got my license two days before Christmas. I went around to a bunch of different brokers in my area and interviewed them and decided which was the best fit for me.

Being new, like most, I needed a broker who offered good training. Everyone worries about the commission split but if you don't know what you're doing, you won't be making a percentage of anything so get with a broker who will train you and hold your hand at the start.

All those pre-licensing classes do is teach you how to pass the exam. They don't teach you anything about how to actually do the job.

John Mathewson · Answer

All depends on what exactly you are looking for.

Really an informal application process

Yes typically an interview

Depends on how hands on you want the brokerage to be. If you want their help in growing and training go with an established one that will more than likely give you a little less commission on each deal. If you want to go do your own thing and build on your own pick one that gives you most of the commission from your deal.

Rankings you can find from pulling data from the MLS but can be a little bit tricky.

After you get your license, then what?

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