All Forum Posts by: Sean Dye

I have almost completed my RE class and I am about to take my classroom exam. When is a good time to look for a broker to work with. Also what brokers are very competent to teach aspiring agents and what should I look for in a broker when I begin my search?

I know the RE world is tough to make money right now and I am here for it, I care more about learning everything I can then making as much money as I can. I know when I become an expert the money will follow, I am actually fully prepared to make no money my first year (though I will work my *** off to get my first deals). What can I expect my first year with a broker? My second year?

Hello!

I've been a real estate agent for a decade. I specialize with working with Landlords.

You need to start looking immediately as each broker has their own unique commission split system. And if that is important, it takes a while to root through them all.

The biggest thing for me was commission split when I started as most brokers aren't going to teach you much of anything and are really only a resource for advice before you make dumb mistakes. So I worked with a 100% commission broker who only charges a flat fee. This might not be available in your state so that's why you have to start your search now.

Once you figure out the payment schemes, next you have to see what kind of resources they have to help you. 80% of real estate agents fail or only make like 40k a year so you have to avoid those people and only focus on finding a niche. Try to find the one with the most resources such as people who are in the niche you want.

The Niche is the most important decision you can make as an agent. Because each niche has different methods and techniques to build your client base. For example, I only work with Landlords/Investors and social media is a useless outlet for connecting with those people. I instead, teach seminars and classes on real estate investing which is how I get 99% of my clients. However that strategy is worthless for getting retail clients as they don't care about real estate investing and only care about buying and selling.

Another example is if you want to do property management as most brokers won't touch property management with a 10-foot pole. So you have to review if they have the niches you want to grow in. As I required my broker to have a property management division which eliminated like 75% of the broker houses for me.

So figure out your niche and potential niches and find the broker with the best resources and support for those

L. Thomas

Definitely some good food for thought, thank you!

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Tulsa, Oklahoma

@Bruce Lynn Thank you so much for this insight Bruce. I already own 2 small businesses so being a W2 employee is definitely not what I am looking for. This has been a huge help!

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Tulsa, Oklahoma

Thank you @Clint Galliano and @Bruce Lynn, great information to look for a dedicated trainer and classroom. My first thought was to go with Keller Williams, looking on indeed however it seems there are different teams? Keller Williams seems to talk a lot about training, will all these teams operate the same way? @Elizabeth Dawan-Abdullah

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Tulsa, Oklahoma

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Tulsa, Oklahoma

Quote from @Lucia Rushton:

@Sean Dye look for multifamily networking events in your area. Best to start meeting people and talking and learning about the biz. You can organically find a partner or mentor or group to get involved with

As always just my opinion

Best wishes

Thank you Lucia!

1 Vote

Quote from @Salvatore Lentini:

@Sean Dye - if you look around on BP you'll see a lot of people requesting mentorship. You're not very likely to find one with a post. Like @Lucia Rushton said, you're better off finding one organically through a local real estate group or meet up. It's a tricky ask because most successful investors I know would view mentoring an aspiring investor as a time suck. That's why coaching costs money. There are only so many hours in a day and not many are ok with giving them away for free. I volunteer my time at real estate investing groups but one on one for free is a big ask.

got it, makes sense. Thank you!

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What I am looking for is a mentorship or sponsorship to learn multi family deals. I am willing to do a lot of leg work for free as I am mostly concerned with acquiring knowledge not money. I reside in Tulsa, Ok.

A little bit about me. I own 2 small businesses that I started from nothing. I started these businesses about 3 years ago because they were a low entry to get to my ultimate goal of multi family real estate. As of now I have little to invest as my wife and I are hammering down debts like vehicle loans and a business loan. However by the end of next year I will have some money to invest, approximately around $50k if it’s a good year of business.

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All Forum Posts by: Sean Dye

Sean Dye has started 2 posts and replied 7 times.

Post: What to look for in a broker as a new agent

Post: What to look for in a broker as a new agent

Post: What to look for in a broker as a new agent

Post: What to look for in a broker as a new agent

Post: Looking for mentorship or sponsorship

Post: Looking for mentorship or sponsorship

Post: Looking for mentorship or sponsorship