All Forum Posts by: Marian Huish

Welcome and nice to ‘meet’ you @Rami Yashruti!  I’ve been a longtime Realtor/investor in DC and it has served me well! As suggested, there are many challenges in DC with tenant laws and rapidly changing neighborhoods- it’s not always easy but if you could comfortably afford to get into the market and have a strong risk tolerance, it will be worth it in the long run!  Happy to connect!

So for clarification @Bryce Kennebeck, if you're only planning on using your license for your personal deals, is your question as to 'how long it'll take to get my first deal' more accurately stated as 'low long before I can close my own deal''?  As a new agent with any brokerage, you'll need to have sufficient training in order to be able to process a transaction and will be working with your broker, mentor, and/or team lead to do this.  That will vary by brokerage- as new agents pose a potential liability to the brokerage, particularly when they are processing their personal transactions which is why many brokerages do not permit agents to do so.  If you're looking at eXp, I would encourage you to join a local team in order to 'learn the ropes', however, if you are not intending to 'sell' to the general public, any team may be 'dis-incentivized' to work with you as you will not be bringing in any sales revenue (commissions) to either the team or the brokerage-  I would advise being 'open' to learning the business by selling to the public which will develop your skills & credibility as a Realtor as well as help you in your own investing going forward.  Also, while eXp is mostly 'virtual', face to face meetings are not generally done, however, if you're joining a team, many teams do have offices and you may want to meet in person.  Again, depends on your local market, (investor/business) experience level, etc.  All the best.

Congrats on getting your license @Bryce Kennebeck!  Have you already identified a sponsor or team lead that you plan to work with at eXp?  If not, I’m happy to help you connect with the right person who can help answer that question as it varies by market.  It’s a very challenging time  for many agents right now due to high rates & low inventory but with the right training, mentor & support you’ll be off and running in no time!  Exp does require new agent training and you will be assigned a Mentor to help you with your first 3 transactions unless you join a team, that responsibility would then fall on your team lead who will also help you to get leads.  All the best!

Referral fees are generally 25 to 30%… Frankly for me it depends on the transaction amount. If it’s less than a $500K transaction, I’ll take less of a referral fee and if it’s over $1M, I’ll take more… i’ve seen as much as 50% when you actually hand over  $1M+ listing for a personal referral.  Our brokerage encourages our 89,000 agents in 24 countries to not only work referrals in all 50 states but in any of the other 24 countries that we operate in.   Agents are encouraged to negotiate the splits direct with no ‘cut’ taken by the brokerage.  It’s also left to the agent as to whether or not they want to ‘double-end’ the deal… I believe that if the seller hires us to sell, oftentimes that means we need to write up an offer rather than sit and wait for a buyers agent to do so.  Listing agents are hired to sell and somehow we’ve gotten away from that for fear of the buyer not being fairly represented. I represent the seller and will look out for their best interest in submitting offers, as necessary. Also, as you work with more and more sellers, that will lead to many buyer leads… I wouldn’t dismiss working with them, particularly in this challenging market. May be more than you asked for @Mike Schorah but hope that helps!  A lot of agents make a good living just off of referrals… but as suggested earlier, it depends on your broker’s policy so check there first.  -All the best.

Love Ricky @Mike Schorah but depending on what kind of content you're looking for, I also love Mike Sherrard...  both are with eXp Realty and offer a ton of valuable free for content!

Happy to have a conversation with your @Daniel Vikhtinski… Anything is possible, it’s just a matter of how much time, effort and money you want to put into it!  😉

Why do you intend to get licensed in multiple states @Daniel Vikhtinski?  Please keep in mind that this will become very costly as you'll be paying for the pre-licensing courses, exams, continuing education requirements, and joining muliple state and local associations.  I'm licensed in 4 states, however, in hindsight, I would recommend not doing so unless you live in/own properties in the states where you are licensed.  Rather, you can simply refer prospective buyers & sellers to agents licensed in other states and take a referral fee simply (generally 25% give or take) for connecting leads with the right agent.  Many agents make a good living simply by working referrals!

Welcome and congrats on getting started off on your real estate career @David Hochgurtel!  Where are you located in N. NV?  I'm in Incline Village and serve the Reno/Tahoe area as a Realtor but also as an Investor.  You've got some loaded questions there... many of which you can find the answers to on this forum!  I'm sure you've learned much from your Mother & Grandmother but of course it's a constantly changing industry and the market is challenging-  There's plenty of local meet-up investor groups in Reno- let's connect!

I always find this interesting when agents respond with this… they’d rather work for a company that keeps all the revenue at the top…. Traditional brokerages are also ‘Pyramid’s’, however, the agents are at the bottom!  And to @Bruce Lynn’s point, you apparently haven’t watched Mike Delprete’s  latest Inman keynote presentation!  (Pandamonium!?) Here’s just a couple of slides from it…  we’ll worth a watch!  

@Logan M. it’s because agents are owners receiving stock awards and passive income opportunities for life just for supporting agents who join the company. What do you receive from Re/Max if you bring agent into the company?  By having agents supporting agents in their success, it creates more collaboration and less competitiveness among agents.  Agents make more and so come from a position on abundance vs scarcity.  The company wins and the agents win.