Mom and pop brokerage

[Jessica Jaboor]

Recently passed the CA broker exam with no experience in R.E. Thinking of diving right in and opening a mom and pop brokerage, as I have been given an office space at no charge. Maybe finding agents by giving 100% commission or low commission rates and or starting solo and hiring a transaction coordinator to help put with the paperwork together

[Kase Knochenhauer]

@Jessica Jaboor - I'm an owner broker of a small brokerage in Michigan. I can speak from experience that being a broker will only make you broker.

Working an associate broker with another local brokerage can be more profitable and MUCH smaller headache. Growing a team (not a brokerage) seems to be the future of real estate. It's faster, cheaper, more commonly successful, and has way less overhead.

If you want to be a mentor, talk to your current principle broker and see how you might be able to help him/her. There are so many ways to grow your business without taking on the risk of opening your own brokerage.

Please don't open a brokerage just because you can. It's a bad idea for 98% of people.