How do I pick a firm as a realtor?

[Matt Greer]

I’ve been working as a wholesaler in my market for a while now and am about to have my real estate license. I know quite a few brokers at different firms. They’ve all offered different splits and perks, but what should I be looking for? Some offer a smaller split but it’s a bigger firm, others offer a larger split for me but it’s a smaller firm. If I accept a smaller split I want to know I’m getting some sort of value out of it. What do you look for? I see a ton of potential in my market as a realtor which is why I’m getting my license. I just don’t want to start out wrong.

[Anne T Tanner]

Some of choosing a brokerage depends upon your personality and what you need from a brokerage.

For instance, are you a social creature? Do you want the brokerage to have internal events that builds culture?

Do you need a mentor, training, etc or will you hire your own coach or are you a self learner?

Each broker has different offerings, you need them to fit you.  If you hate meetings and a broker has office meetings every week that may drive you crazy.

Be aware of splits but also be aware of caps (the split either raises or ends once you pay a certain amount)  Beware of brokerages that dont cap how much you pay.  It must be reasonable for both you and the brokerage.  It's not uncommon to pay $20-$25000 a year to a brokerage with splits, desks fees etc based on what you earn but if you make $100,000 in commissions and are on a straight 50/50 split you would give them $50,000!  That's crazy. 

Talk with agents that are at a few different brokerages you would consider and see if what they describe fits you.  Almost any broker will take you - so it is up to you to choose wisely.

Anne Tanner, Real Estate Business Coach