All Forum Posts by: Tami Lumpkins

Good evening!  I am waiting to take my licensing exam and deciding on a sponsoring broker.  I talked with one tonight - we went over commission, office fee and start up fees.

Doesn't seem to unreasonable - small monthly office fee, lots of training - (looks like I could have some sort of training every day of the week), mentoring, decent split (less your first year, but can quickly get to 100% if you are producing).

Office fee included Central Showing System, E/O, advertising (something about protecting the agents leads online, little fuzzy on that), phone forwarding, email, copies, mobile app, website - not sure what else.  It didn't include "office space" - which seems to you can rent by the month - but what if I just want a desk for an hour or two?

There was a small start up cost that included business cards, a sign, and some set up fees for various things - it was less than $300 - is that common? I would imagine I would be spending as much for those things anyway.

What they seem to be weak on is leads.  He said you can do open houses for other's listings - but no "desk time" - so you are pretty much on  your own (though the entire first week of their 4 week course is building leads)

And I think my weakest area will be generating leads.  I don't know a lot of people, and am not the most outspoken person.

But I don't know what I don't know.  So - anything I should ask when I follow up?  I will be interviewing at least two more brokers - though I'm having a hard time identifying brokers to talk to - seems the market around here is dominated by very large brokers.

Any insight would be helpful.

Thanks for the answers.  I was able to follow along despite the formatting.

I waded through promulgated forms (OMG, that was awful, but I passed the final exam easily).  

I made my application last night - now I'm just waiting for them to let me schedule.  I did send them an email with all my course certificates.  They also said to include the receipt for payment - but I didn't get a receipt for payment - but I was charged the $205.  

Re: Brokers - I have no idea who is well respected - I just know who advertises at the local football games :D  But I'll broaden my search - there are just soooo many real estate offices in my area.

Thank you for the info!  I guess I need to get my butt in gear.  And yes, the Hurst office is the one I was planning to use, but I can go to any of them if the timing is right.  I would rather not take a day off of work, but if I need to, I can.

A few questions - I think I'm near the finish line....  I still have one course to go - Promulgated Forms - but I hope to have it done tonight or tomorrow.

So, after I finished my last course, I'm going to make an application - and it's going to take them 2-3 weeks to get back to me - right?  I can't schedule the exam until I get an approval email - is that correct?  And during this time, study, study, study. 

How long does it take to get the exam scheduled?  Is there more than a few days between scheduling and taking the exam?  Do they have Saturday tests (I'm in the DFW area)?  

And how long between taking the test and getting the "inactive/active" license email?

I am hoping to give notice at my current job at the beginning of December and work until the end of the year - and then start my new real estate career full time in January.

I guess now is the time to start interviewing brokers.  I've got three on my list - Re/Max, KW, and Coldwell Banker.  I'm not too concerned with the split - I'm more looking for good training, mentoring, and hopefully some lead generating opportunities.  I guess I don't have to join a broker in my town - maybe I should branch out.  I'm not sure the luxury home type offices are my cup of tea.

I'm taking Kaplan right now, and I agree it's been great.  I really like getting real textbooks and workbooks - and like the video lecture format - sorta like being in a classroom (without all the other students).  The quizzes have been very valuable, and it comes with a test prep course as well.  Plus the email support I've received has been very good and an unexpected surprise.

It might not be the cheapest or fastest, but since I had zero background in real estate, I'm certainly learning the material.  Kaplan has one of the best pass rates in Texas.

You really need to figure out what you need out of a school - do you already know the ins and outs and just need a refresher? Do you learn from reading?  Do you learn from watching videos?  Then you can figure out which school will most effectively meet your needs.

For me, it was Kaplan - there might be other schools that offer text books and video lectures, but they didn't do a good job of relaying that information in their promotional materials.

The National videos were very good.  I actually enjoyed them.  The instructors would explain things so it all made sense.  The state portion is a little harder to follow - she zips through it pretty fast - and so far all I have completed is the 30 hour National and 30 hour state course.  I'm about to start the next course tonight.

I have zero background in real estate.

But I have always been fascinated by the real estate industry.  I tried to get my license some 25 years ago, but life (and then 3 babies) got in the way.  I'm approaching 50 now, and decided I should go for my dream.

But the videos, along with the practice quizzes have been very helpful.  I took my "final exam" for Principles of Real Estate last night and without going back to study, I passed with a 90%.

Working full time, and busy with my kid's activities (still have 1 at home) it's been slow going.

Thank you Shane!

I have read both of your threads - very helpful information.

I'm currently in the process of becoming a RE - but I'm not as fast in the education department as  you :)  I am also taking Kaplan, and did the OnDemand video course.  There are a lot of videos to get through, but I knew I could not just read a textbook, and I work full time, so didn't have time for a classroom.  The OnDemand seemed to be a nice compromise - lectures, but at my own pace - which is slow.  I hope to be a full time RE by Jan 1st!

I agree that the TREC licensing information section is just a total mess - and your step by step helped clear up a few steps.  Thank you again!