Choosing Between Brokers - Rentals

[Glenn Gayet]

Hello,

I am new to real estate and looking to get started in rentals as it seems like a good place for beginners to get their feet wet. I have two options when it comes to brokerages as far as rentals.

One is in West New York, NJ. They provide all the listings, you just have to show the apartments. 50/50 commission on rentals where the broker got the listing and and 85/15 on ones where you get the listing. West New York is about a 50 minute drive for me. This seems all good but my concern is that since these are open listings there could be other agents showing the same properties. Not that anything is ever going to be easy, but just because the broker gets the listing doesn’t mean it will be as easy as it may appear.

Another one is in Summit NJ. This one is closer and the earning potential is a little more clear. The broker makes it sound as if doing 2 rentals per week is somethting that can happen at some point in the future. They train you on calling landlords and provide a lot of the leads. The concern I have with this one is that they charge errors and omissions insurance which is over 200/month but they said they make it 100 with the rest drawn from commissions.

I’m having a tough time deciding between the two options. Any help would be appreciated.