Picking a real estate brokage firm

[Lydia Woods]

Hey,

I live in Louisiana and I just finish my pre licensing course to get my salesperson license. I take the state and national exam in about week. I heard that finding real estate brokerage firm to work for is basically your interviewing the broker. My questions are, what are some of the key things I should be looking for when picking one? What questions should I ask? And any other additional information. Thank you

[Natalie Schanne]

@Lydia Woods - Talk to teams and ask them how they structure it. Sometimes it's tiered based on your experience and value add. Some teams will hire you straight for like $10-20/hour to do showings. Others do a commission split. Generally it's like you split 50/50 with you and the star agent/team lead, but the star agent is paying for staff who don't sell houses like your transaction coordinators, administrative assistants, etc. So at REMAX your star agent might pay $1500/mo + 5% of gross commissions to the main office, then pay his or her admin staff (probably $30k+/year per person), then the commissions you make are split 50/50 of that 95%. One team I looked at recently on a "ZILLOW PREMIER AGENT" profile with 300 5 star reviews, 200+ recent sales,was actually like the combined work of 20 people. So, if you participate in a deal at 3% buyer's side for a $300,000 house, the $9000 commission goes 5% to REMAX as a franchise fee then the 8550 gets split 50/50 between you and your team lead and you get a check directly for like $4275. If you agree to work for like $20/hour doing showings, then you would probably not receive any commission money (depending on what you had agreed to).