Choosing a broker for new RE agent

[Sara Pritchard]

Hello,

I just obtained my RE license and was looking for insight/experiences with a couple brokerage firms. I’m in the southwest FL area so if anyone nearby can share their experiences that would be helpful.

I’m looking into Keller Williams and Premiere Plus realty but would be open to other suggestions.

I would like to read opinions on the mentoring process (Keller Williams ignite program vs. Premiere's mentor edge program) How helpful and supportive towards helping you get on your feet and close deals, experiences with commission splits/mentor splits/fees. Some companies say 100% commission but take a 50/50 mentor split (the other states 70/30 commission split but 20% of my profit goes toward your preceptor) and how much involvement is the mentor/preceptor? Are they walking through homes with you and executing contracts or are they giving you a weekly hype/pep talk like a coach in a locker room in front of a group of people and then taking a percentage of your first 3 (or more) commissions? What have you found to be the difference between the 100% commission brokerage and a commission split brokerage? Pros vs Cons. Or any other important tips that you wish you knew when you first chose a brokerage or started out?

When you first started out, how long before you closed your first deal? And did deals follow relatively easy after? I’m unsure how quickly I will be able to go full time and leave my current job. 

I realize everyone will have a different story and every new RE agent will have a different outcome depending on their hustle but would still love to hear some scenarios of past or current brokerage relationships. I am having brokerage analysis paralysis and need to make a move! Thanks! 

[Will Fraser]

Hi _________, the biggest piece of advice I can pass along about selecting your first brokerage is this: regardless of which one you choose, it is not a permanent decision. When I got into real estate brokerage it seemed like I was making a somewhat permanent decision and it pressurized the situation more than it likely needed to be.

In hindsight I'd say: go with the brokerage that is going to train you excellently and offer mentorship. You want to learn to do X, Y, and Z in real estate well, but far more importantly you want to learn how to do life well. Some brokerages excel at the RE piece and stink at the life piece and that's fine, but it should be reflected in the fee structure.

Some things are negotiable for sure, but I'll ring the bell of So Good They Can't Ignore You here and suggest that you pick the best brokerage you can for years 1-2 and then start negotiating with your Broker :)

As for the 100% commission places . . . It's just hiding the costs in different places.  It seems flashy and amazing up front, but brokerage is a business just like any others and the broker HAS to cover the business costs they incur PLUS they should be taking home some profit, so that revenue comes from somewhere.  That's not a bad thing, but rather it's a bit scheezy of these brokerages who say "you keep everything" when that's simply not a viable business model, and not true.