Best broker to become an agent with?

[Yaric Mifedov]

Hey guys! So i will be getting licensed by the end of October and am really having a hard time with deciding on a broker to start partnering with. I wanted to come on here and get some of the more experienced agents opinions on this. Ideally I would want to partner with a company that has great training as well helpful tools to help someone that's just becoming an agent like myself get started. My goal is too be able to work my way up to a 6 figure income in my first year and too absorb as much training and information as I can. Eventually i would also like to build up my own investment company for fix and flips as well as rentals and some wholesale deals! (Im based out of the Bergen county area in NJ!) With that being said, what do you guys think would be the best broker to partner with as a new agent who is hungry and motivated to produce and reach a 6 figure income in the first year? How did you guys find the broker that was right for you?

[Charlie MacPherson]

@Yaric Mifedov  You'll need to interview individual agencies.

First, it's important to understand your position in negotiations.  You probably think that you're the one looking to them, hat in hand, hoping for a break.  

In reality, any brokerage will sign you up.  You're fresh meat and they'll all take you, because they have nothing to lose - and they know most new agents might drag a couple of deals from family and friends across the finish line in the first year.  

The truth is that about 87% of new agents wash out in the first 5 years.

Your job is first to understand this and second to get the best deal for you - and it's NOT all about the commission splits, especially at this point.

The most important thing starting out is to get training. You need to learn procedures - like how to take a listing and enter it in MLS, how to write an offer, etc. Almost as important, you'll need to learn how to generate leads and how to keep track of them as you follow up.

Watch out for desk and other fees.  Some agencies charge a LOT for the privilege of making money for the broker.  

If the brokerage doesn't require NAR membership, all the better. Most do, but it's a little over $500 per year that could be better spent on your own marketing.

Good luck -