All Forum Posts by: Carl Ohai

So is the "mentor" usually the broker (called a principal broker here in Oregon)? I always thought the "mentor" was usually a higher-selling agent in the same brokerage, not the broker themselves.

 With respect to 3.) what I meant by counterproductive is that if I work with another agent, is that agent not creating another competitor, at least a potential one?

So then how exactly do new agents get started? Does every new agent have to save up $150K to live off of for 3 years before they turn a profit? 

Suppose you are trying to compare comps in a given neighborhood. What % of a value do you figure a double wide mobile home represents compared to a stick-built house of the same size and condition?

For example, let's say a given neighborhood has 2 1800sqft homes for sale. Both are in the same condition, with the lots being the same size, similar landscaping, both with a garage, etc. For the sake of argument, assume they are both about 5 years old and the stick-built home is built on a slab.

What do you think the mobile home value is compared to the stick built house? If the other comps indicate the stick built house is probably at about $250,000, what would the mobile likely be? $200,000? 

Thanks for the input. I currently have a 40-hour/week job. I really want to transition into this profession. I've heard that brokerages don't often like to work with people that already have full-time work. Is that actually the case? Wouldn't less agents fail if they actually kept their day jobs until their RE careers were self-sustaining?

Also, suppose I start working with a brokerage, then what? Do I just shadow an agent for a while to figure out the process? 

It was mentioned above that the senior agent gets the commission when working with a new agent, so based on that, I am assuming it would be wasteful to spend any money on marketing until you can close sales yourself?

Thanks everybody for their input. 

Do brokers have a limit as to how many new agents they will take at a time? Or do they generally welcome as many as they can get?

I am starting the license course, and will be ready to start finding a broker to work with by the beginning of the year.

1. How does the broker dole out leads that walk into the door? Suppose a person just walks into a Century 21 to start looking for a house, how does the broker decide who gets that lead?

2. How much does the broker control, or limit, the online marketing of their agents? Are agents allowed to funnel traffic to their own website instead of their broker's?

3. There is a lot of talk about finding a brokerage that offers training and mentorship from more senior agents, but isn't that completely counterproductive for the senior agent? To create competition?

I am starting the license course, and will be ready to start finding a broker to work with by the beginning of the year.

1. How does the broker dole out leads that walk into the door? Suppose a person just walks into a Century 21 to start looking for a house, how does the broker decide who gets that lead?

2. How much does the broker control, or limit, the online marketing of their agents? Are agents allowed to funnel traffic to their own website instead of their broker's?

3. There is a lot of talk about finding a brokerage that offers training and mentorship from more senior agents, but isn't that completely counterproductive for the senior agent? To create competition?

I am starting the license course, and will be ready to start finding a broker to work with by the beginning of the year.

1. How does the broker dole out leads that walk into the door? Suppose a person just walks into a Century 21 to start looking for a house, how does the broker decide who gets that lead?

2. How much does the broker control, or limit, the online marketing of their agents? Are agents allowed to funnel traffic to their own website instead of their broker's?

3. There is a lot of talk about finding a brokerage that offers training and mentorship from more senior agents, but isn't that completely counterproductive for the senior agent? To create competition?

I am interested in making the switch to becoming a real estate agent. I have some of the standard newbie questions.

I'm already well-read on all of the requirements to get licensed in my state, but what I am clueless about is what happens next in terms of learning the craft.

1. How does getting on a team with a broker typically work? Do you apply for it like any other job and have to compete against other applicants? Or are they usually eager to get new agents?

2. Do brokerages deliver you leads? Or are you responsible for finding all of your own leads? 

2a. Suppose I work for a big-name franchisee like Century 21 or ReMax and a buyer or seller walks in the door, how does the brokerage usually dole out who gets that buyer/seller?

3. I have heard that it's good to have another income source when you start. For me that is a full-time job. How feasible is it to make the transition to becoming a full time agent while working a full time job already? 

4. Do brokerages usually want to waste their time with agents that already have an employer to whom they are beholden?

5. What freedom do bigger brokerages offer agents in terms of their own marketing? For instance is C21 likely to require that all of my marketing include their branding? Do I have to get approval for all of my marketing efforts?

6. How does the mentorship process generally work for a brand new agent that doesn't have a grasp on the process? Do I shadow an established agent around? Or do I make a sale and split some commissions with the more senior agent?