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Updated about 4 years ago on . Most recent reply
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Career Advice Needed
Been selling houses as a part time agent for the last 9 months and did $4.7m in sales this year. I've been at a Boutique brokerage one of my buddies from high school started up and it's been great, don't really have time to participate in the networking or training stuff cause of my full time job but my broker and office manager have been super responsive and are always available when I have a question/issue. The current split is 80/20, i don't pay any monthly fees, and i get 100% after my broker gets $12k in commission.
One of my other buddies who is at REAL (similar to EXP just more start-up phase) and kills it is trying to get me to come under him and switch over. With the massive draw there being able to recruit other agents and get stock. Splits are similar and no monthly fees that I'm aware of.
I'm also getting recruited by a flipper to come work under his brokerage to start listing his flips for 1k a flip. He has a marketing and admin in place that I would be able to utilize and just wants someone to handle the negotiating. He did 30 flips this year and plans on doing 50 in 2021. $50k isn't a ton but the draw here is there are no commission splits I get 100% of everything I just have to pay a $150 flat monthly fee or $1,800 per year. Another draw is the flipper has a ton of leads and I would be getting those leads and well and would get to learn how to flip which is something I don't have down to a science yet.
Any more experienced agents have any advice on what they would do in this situation? Appreciate the Feedback.
Most Popular Reply
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Originally posted by @Charlie Cameron:
@Harrison Sharp You're doing pretty well already as as part timer. I guess my question for you is, why the switch? It doesn't sound like you're having any issues, unless what you're looking for (based off what you said) is either access to more training or opportunity for more growth.
I certainly believe there are more opportunities for growth at a larger brokerage firm. I don't know much about REAL. I ended up at eXp for the need to train, get support, and have a mentor outside of work hours so that when I was taking time off it was for showings, appointments and contracts - activities directly related to serving clients. But I've learned the benefits are certainly much greater with a national/global referral network, opportunities to work with other agents and even trade investment deals with that network, now I can learn the commercial side, the ability to build a local team without a broker's license, revenue share is an interesting income stream where you succeed when you help the organiation you build succeed, the ability to earn your cap back as a top producer, etc. I don't think I could have done everything I've done anywhere else, but not everyone wants all that.
So that brings me back to: what do YOU want and what are YOUR goals?
Thank you for the response - The biggest reason for the switch would be learning/access to more professionals/saving $10,200 per year. I don't like leaving money on the table and now that I know what I'm doing that's what I'm essentially doing by staying at a boutique that takes $12k per year until I cap.
Personally, I want to scale and grow my sales business and learn how to flip. That's why I'm thinking about this.