Quote from @Scott Trench:
Among other items, I'd walk out of there knowing:
- What training/mentorship they will provide you.
- What their MONTHLY fees are, if any.
- What their piece of the commission looks like PER TRANSACTION, and where they cap out commission splits.
- What leadflow they will provide for you, or how they will otherwise help you market for leads.
Thank you for the advice. I am getting this a little late but from what he told me, I will receive all of my training and access from Century 21 and I will pay 3.5% commission on any house sell but out of that 3.5% and Century 21 gets 8% of and I will receive 70% and the rest of the 3.5% the house keeps to pay for the license, insurance, training, accesses, etc.
So lets say I own a property out right and I sell it for $100,000. I will keep $96,500 and pay them $3,500. Out of that $3,500 they will pay me (70%) $2,450. From my understanding that means for every $100,000 I will pay $1,050 to be completely covered by Century 21 and have access to all of their tools and training. No monthly fees, no clocking in, answering phones, attending meetings, etc. I buy and sell properties and basically pay 1% to be covered and trained. Maybe I missed something but I tried to be a thorough with my questions as possible and that is how I understood it.
