What should I look for before joining a brokerage?

[Craig Moore]

Hello All,

I'm midway through my Massachusetts Real Estate Agent class and will be taking the exam sometime in late May/early June. My questions for you all are this:

What should I look for in joining a brokerage? (Big? Small? Training? Leads? Teammates? Location?) There are a bunch of things to consider, and I'd like to hear what you all thought would be best to use as determinants.

Also, how successful are you now? How long have you been an agent? I know 3 agents (two women and 1 male) who are all making over 6 figures per year. They are also go-getters, and I can identify with them, this is why they are my mentors. I'd like to hear your take on what the "work to reward" output is. (Ex: working 70hrs per week can result in ____). Not to get caught up in money, I'm after freedom, financially and in my life, but having the finances on the back end will help. 

Thanks,

[Samir Shahani]

@Craig Moore @Steve Bracero

I am also in the same boat.  I am studying for the PA real estate licence.  

In response to your question, you have to figure out what your goals are.

If you want to sell homes, standard single family homes, and make a career out of it, you can easily join any of the national chains.  (Berkshire, etc)

If you want to sell larger multifamily, you will likely have to join a specialty firm that handles that.  The good firms are very difficult to get into (requires experience, a certain look, etc) but they will make you super rich in a small amount of time - of course you have to be a salesperson and know what you are talking about.  But these firms get direct lines to the richest sellers/buyers and close dozens of HUGE deals a year. (Typical salesperson can easily do $200MM+ in sales per year.)

In my case, the real reason I am getting my real estate licence is to represent myself in my investment purchases and earn 3% back in each transaction.  For this reason, I am going to target a small local broker who is willing to hire me part time for this purpose. 

In summary, find out what you would like and go for it.