All Forum Posts by: Maijia Donovan

@Sambit Sharma First off, congratulations on becoming recently licensed as a Real Estate Agent!  That question of whether to become an assistant to a top agent or go on your own as a single agent will depend on what your goals are in your real estate business.  Is your goal to become a solo agent that starts off doing all aspects of the transaction (lead gen, meeting clients for showings, contract paperwork, ect) and grow your business full time?  Or is it to do only one aspect of the transaction (lead gen only, showing agent, transaction coordinator, etc), then being a part of production team might be beneficial for you.

You can also join the right brokerage as a new agent that provides mentoring for your first couple of deals, then you will learn all of the things like contracts, etc, without needing to join a production team.  Let me know if that helps!

@Reza Hosseini Congratulations for making it this far in the pre-licensing process.  You should definetly be proud of yourself for making it this far.  I wish you success in passing your final exam.  

Finding the right brokerage that will partner with you is so imporant and they need to be the right fit for how you want to run your real estate business.  Here are some questions I wrote for a blog post.  Let me know if you want the link for the whole post as it is beneficial to read:

20 Questions to Ask When Interviewing Brokerages

1. Does the brokerage allow both full & part time agents?
2. What type of training do you offer new & experienced agents?
3. Is the training in person, virtually, or available on demand?
4. What mentorship opportunities do you provide new agents? Is there a fee for this mentorship program?
5. Do I have access to the managing broker for support and at what times? Who do I speak with when I have contract questions?
6. How many full & part time agents are in the brokerage?
7. Do you offer team meetings, masterminds, lunch & learns, etc? If so, how often & when?
8. Where is the office located? Can I get a tour of the office?
9. Do I have any obligations to the brokerage? Is desk or phone duty required for agents?
10. What is the culture of the brokerage like?
11. How are agents who are successful recognized?
12. What platforms & technologies does your brokerage offer?
13. What lead generations tools will be available to use? Do you provide leads to your agents?
14. Do you have any restrictions on personal branding?
15. What are your brokerage & franchise fees?
16. What are your commission splits & cap?
17. Are there any other expenses you should know about?
18. How are transactions processed?
19. Are there any additional benefits you offer your agents, such as revenue or profit share, stocks, insurance, etc?
20. How does your brokerage set you apart from other brokerages?

@Account Closed said and you should do what every niche you are passionate about as this is what is going to keep you going in times when it is not so easy.  If you are not sure what niche it is you are passionate about yet, that is ok.  Find a brokerage that allows you to explore all of your options and allows you to grow in what ever niche you decide to pursue ultimately.  

@Chandler Butler This answer will depend on your goals in your real estate business.  You will need to ask yourself these questions that will help you determine what brokerage is right for you: 

-Research the different options and compare commission structures.

-Consider what type of support and resources the brokerage offers. What is the mentorship program offered at the brokerage?

-Take into account the company’s reputation and reviews from other part time real estate agents.

-How are the leads generated in the team structure?  Are they "given" to you or are you learning how to generate your own leads to become self sufficent?

Also, do a google search on the average expected fees for new real estate agents in TX.  That will at least give you an idea of what you will need to expect to pay in year 1.  

@Tony Iwen Here are top questions I would ask during your broker interview that I found was very helpful on figuring out which brokerage will become your partner in your real estate business.  Let me know if this helps!:

20 Questions to Ask When Interviewing Brokerages

1. Does the brokerage allow both full & part time agents?
2. What type of training do you offer new & experienced agents?
3. Is the training in person, virtually, or available on demand?
4. What mentorship opportunities do you provide new agents? Is there a fee for this mentorship program?
5. Do I have access to the managing broker for support and at what times? Who do I speak with when I have contract questions?
6. How many full & part time agents are in the brokerage?
7. Do you offer team meetings, masterminds, lunch & learns, etc? If so, how often & when?
8. Where is the office located? Can I get a tour of the office?
9. Do I have any obligations to the brokerage? Is desk or phone duty required for agents?
10. What is the culture of the brokerage like?
11. How are agents who are successful recognized?
12. What platforms & technologies does your brokerage offer?
13. What lead generations tools will be available to use? Do you provide leads to your agents?
14. Do you have any restrictions on personal branding?
15. What are your brokerage & franchise fees?
16. What are your commission splits & cap?
17. Are there any other expenses you should know about?
18. How are transactions processed?
19. Are there any additional benefits you offer your agents, such as revenue or profit share, stocks, insurance, etc?
20. How does your brokerage set you apart from other brokerages?

@Shawn Rose I used the CE Shop for my pre-licensing course while I was at a W2 job as well.  Everything is done online.

I agree with @Bruce Lynn.  The CE Shop is a great place to take your pre-licensing exam.  It was easy to follow and can be done while working a full-time job.  If you do it, purchase the package with the Pre Edge.  It will help you determine which areas you need to go back and study.  I went through the course and passed on my first try.  Let me know if you have any questions!


  

Hi Tony!  I wrote a blog post on the best questions to ask a brokerage as a part time agent.  Let me know if this helps and I would love to connect with you some more on what your real estate goals!

20 Questions to Ask When Interviewing Brokerages

1. Does the brokerage allow both full & part time agents?
2. What type of training do you offer new & experienced agents?
3. Is the training in person, virtually, or available on demand?
4. What mentorship opportunities do you provide new agents? Is there a fee for this mentorship program?
5. Do I have access to the managing broker for support and at what times? Who do I speak with when I have contract questions?
6. How many full & part time agents are in the brokerage?
7. Do you offer team meetings, masterminds, lunch & learns, etc? If so, how often & when?
8. Where is the office located? Can I get a tour of the office?
9. Do I have any obligations to the brokerage? Is desk or phone duty required for agents?
10. What is the culture of the brokerage like?
11. How are agents who are successful recognized?
12. What platforms & technologies does your brokerage offer?
13. What lead generations tools will be available to use? Do you provide leads to your agents?
14. Do you have any restrictions on personal branding?
15. What are your brokerage & franchise fees?
16. What are your commission splits & cap?
17. Are there any other expenses you should know about?
18. How are transactions processed?
19. Are there any additional benefits you offer your agents, such as revenue or profit share, stocks, insurance, etc?
20. How does your brokerage set you apart from other brokerages?

Hi Matt!  I just sent you a message.  I would be happy to connect with you and discuss your plans as a real estate agent and investor in Massachusetts.  

Hi Quintin!  I would definitely call PSI or who ever administered the licensing exam.  I had a similar experience in MA where I had to wait 12 weeks for them to "approve" me to even take the exam and once I called the support line, they were like, "Oh yeah your approved.  Do you want to take it tomorrow?"...Super frustrating but an important lesson that you need to push for what you need.