5 Tips for Joining a Real Estate Brokerage as an Investor and Realtor

5 Tips for Joining a Real Estate Brokerage as an Investor and Realtor

I have been a realtor now for over 6 years in North Jersey. I spent a few years hopping around from brokerage to brokerage until I found the current company I am with. When I first started my priority was becoming an investor. From the knowledge I gained investing for myself I now spend my time helping others find their way in real estate from clients to other realtors stuck in a not so favorable brokerage. I love helping others and sharing knowledge, creating one big fire through collaboration. Without further ado here are my 5 tips for joining a brokerage that allows you to invest and be an agent efficiently.

Investor Friendly

This may surprise you but there are many agencies that do not care to have investors working for them because they feel we may not produce enough for them. Some brokerages may require: desk time, phone calls be made on behalf of brokerage, hosting open houses etc. All of which will cut into your time for investing.

Cloud Base Brokerage

My current broker allows me to work as a realtor anywhere I have access to a computer and in many cases my smart phone. When I first became a realtor I was with a company that was still signing contracts in person. The first property I closed on I literally spent over 3 hours chasing signatures for my clients. With my current brokerage I literally got an offer accepted while I was in New Orleans using electronic signature (property closed as well!!!)

Cloud Base also offers me 24/7 assistance, access to amazing resources, along with reduced office fees. I love the flexibility it offers and highly recommend it to investors agents especially if they are working full time jobs.

With COVID 19 happening I have been continuing my education, my current brokerage offers a cloud based university. Since the pandemic started my brokerage has increased online classes to give agents the opportunity to make the best of unfortunate downtime. We have the ability to pivot when the unforscene happens.

Commission Splits

My very first commission was rough. I ended up getting less than .05% yes under 1% My area standard commission is 2.5% for each side of the transaction. My broker took the 2% I did not receive. There are agencies that start realtors out with fair commission for everyone from brand new agents all the way up to top producing ones. Commissions were important for me because they essentially covered the closing cost for my investment properties and helped fund future purchases/renovations.

Education

So many agencies offer some forms of education. Some give you a book, some provide school (normally at headquarters/corporate), some give weekly class, some offer false hope. Currently my brokerage offers 40-60 hours of new education hosted by real life top producers on a weekly basis. Do the research, make sure you join a brokerage willing to train and most importantly make sure they do not charge you big bucks. At the end of the month you should not have to pay top dollar to learn how to sell houses.

Low Dues and Fees

Are we investors correct? So money kept in our pockets is what we want. Find a brokerage that not only offers fair and highly competitive splits but make sure you are not getting hit with royalty fees, high E & O, expensive broker review fees etc.

Finding the right brokerage took me many years, I hopped around from local agencies to national companies. I am now happy to be a part of one of the fastest growing real estate brokerages in North America that has an investor friendly business model. I hope the article acts as a key for navigating the tough gauntlet of choosing the brokerage that is best for you. I recommend interviewing with a bunch of brokers, it's always smartest to know what fits best for you and what you are looking for.