Cole Davidson, Previous Oregon Real Estate Agent, Military EXP (TBD)

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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Cole.

 

     What are YOU looking for from a Broker?   Split?  Leads?  Advice?  Fairness?  Office staff, copier, computer terminal?  A brick and mortar office where you can meet clients?  National name recognition? 

 

   You said, "Someone fighting for my success."  How do you define "success"?  Money?  Prestige?  Closed sales?   How will that Broker help you achieve that success?

 

   Make a list of what YOU want.  Ask the Broker what he/she/they will do for you. 

 

   And of course, ask them what they expect from you... some Brokers want to see X number of listings and Y number of closings per quarter.  Can you make those numbers?

 

 

 

Jul 30, 2021 04:31 PM
Rainmaker
2,692,084
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This is an excellent question and the answer that comes to my mind is two-fold. One getting to know one another may take more than one meeting and in different places and circumstances. two: Another way of doing Broker homework is talking to others who swe share with in common and a third is meaningful Q & A about what is important to both parties. Whatever you do or don't, have fun with it maybe even treating it like dating...LOL

Jul 30, 2021 01:52 PM
Rainer
155,717
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

Here is a video I made about how to pick your first real estate broker.

Good luck.

Jul 31, 2021 08:07 AM
Rainmaker
4,574,420
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Your initial questions should be focused on training. Both inhouse and third party. Ask about associated costs of each. As the conversation continues assess the chemistry between the two of you. If you feel good about the chemistry ask about technology and the associated costs. If you feel it is a good fit for you you can ask about the split which is least important if the training and experience will jump start your careeer. When you feel uncomfortable exit and continue your search.

Jul 31, 2021 05:00 AM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's a series of questions, not just one. There are some good answers here. As a new agent, if that's the case, I would want to know more about their training and mentoring, and the availability of the broker. What kind of support will you get from a marketing standpoint?

Jul 30, 2021 08:09 PM
Rainmaker
508,854
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Think about what's important to you and perhaps write it down and rank it.  Ask each broker what's important to you and how they will help you.  For example, if training is your #1 priority, ask how the broker is going to train you.  Also, call some agents under that brokerage and ask how they like it there, any improvement that they think their broker should do etc.  

Jul 30, 2021 06:57 PM
Rainmaker
441,150
Shayne Stone
HomeSmart - Fulshear, TX
"Your Rock Solid Choice Realtor"

Other than the great advice you already received. 

I learn this one the hard way. I suggest you find a brokage with two (2) Brokers. So (and I hope it never happens) if one of them should pass away, the buisness can continue. But no matter, whatever contracts you have already written, they will move forward. It's the listings you have that haven't  received any signed offers on.

When my broker (and he was also my brother) passed, our MLS terminated all our listings once they learned of his passing!

Jul 30, 2021 05:38 PM
Rainer
6,808
Cole Davidson
TBD - Sandy, UT
Previous Oregon Real Estate Agent, Military EXP

I'm so surprised with the support in the comments! Thank you all!

 

I have had under 2 years of experience where I was working under a newer principal broker in Oregon and he was always in direct competition with me. He took listings for himself rather than training and guiding me to successful deals. I was effectively left in the dark. After so long he then tried to expand his business outside of just RE and took me off of building my pipeline which meant I went months without pay. Unfortunately it did not pan out and I joined the Military for education. Now 4 years later I'm looking to utilize my experience and really make a great career for myself. (Education will be on the side and paid for, for life W/Military GI BILL!) --

-- I think training is definitely a valuable factor in my decision because I don't want to just be a buyers agent or a listing agent, I'm looking to really explore what options are out there in investing, commercial, foreclosures, and land sales etc.. I really hope I can find a good fit but if not, Kathleen Daniels, Probate & Trust Specialist  you have inspired me that you can make it to independency.

Also, Carla Freund You brought up many great points I hadn't really thought about with support staffing and administrative assistance. Very valuable factors.

Fred Griffin Florida Real Estate , Success for me would be Sales and Building a strong "RE Resume". Also diversifying my RE portfolio with more advanced technical deals. I'm sure it will take time but that's my end game.

Discussing this is great because I think now I'm looking for a broker that is knowledgeable and willing to show me some of the advanced RE options. A partner who looks out for my best interest.

- After all, we only make a strong team if we work together. So I guess training/mentoring is a huge part in my search. Hopefully I can find Chemistry with a broker like that.

Jeff Dowler, CRS , Marketing is another aspect I expected to do all myself and I never really considered they might offer support in that. Advertising and marking can make or break you. Thanks for the reminder of that, it's very important.

Thank you all for the support again, I can see you all have a wealth of experience and knowledge I hope to gain myself. You guys ROCK!

Great advice everyone it really helps as I go through this process again.. Trust me, I'm making notes on this so you guys are helping me tremendously  :)  "Fingers Crossed" that I find a good fit  :)

 

 

Jul 31, 2021 02:00 PM
Rainer
309,533
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

Well for me that question was asked before I was an agent and it was "will you marry me?", but from my perspective she's a great broker because she's available to her agents all the time.

Jul 31, 2021 09:42 AM
Rainmaker
817,316
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

It depends on what is important to you. If you're a new/newer agent, I would suspect training, direction and accountability are important. I've heard 50% of agents drop out of Real Estate in the first year and 80% by year 3. I believe a big portion is because of accountability or lack of discipline on the agents part. If you have a good broker who has great training in place and holds you accountable, that will take you far in your career. If you're an experienced broker then it might be different. For me, I want a broker/office that has great training for expereinced agents. I also like that our office has a staff that supports agents. My primary office is at home, my office stays in touch with me and keeps me up to date on what's going on. If I need something, I know who to reach out to. For example, the closing attorney delivers the closing check to my office. My office scans it to me and we handle everything electronically. This means I don't have to go pick it up and turn it in. It helps me be more efficient with my time. There are a variety of other ways the office supports its agents. I also like that there is a lot of energy in the office and that I have other top producing agents I can ask questions of. I also love the energy and freshness the new agents bring. Our broker and staff will really try to get to know us and help us in ways that's important to us. So, start with the things that is important to you.

Second and first as well go with a broker that has integrity and a good reputation. If you can't trust them then move on.

Other questions to ask might be:

Is the broker in production or will you also be competing against them?

Who will be doing the training? Many brokers haven't sold RE in a long time.

Is the training relevant?

Do they train you how to run a RE business, how to get business, how to manage your business, how to write a contract, etc.

What are the splits?

What are the fees outside of the splits including board related fees?

Is there a cap on the fees once you sell a certain amount?

What do they offer vs. what you pay for (ie lockboxes, signs, copier, office space, leads, website, crm)?

Who do you call if you need help with a contract?

What expectations do they have of you?

What is the culture of the office?

That should get you started.

Jul 31, 2021 05:55 AM
Rainmaker
946,561
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Are you a new licensee? 'What kind of training do you provide?'

ALSO . . . what is the typical tenure of the agents on board?

Good brokers retain happy agents. 

 

Jul 31, 2021 07:45 AM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I wish you all the best.  I have nothing constructive to add.  In 2012 I went out on my own as an independent broker.  Why?  Because I never did find that right fit for me. I am the right fit for me.  I've never looked back. I love flying solo. No one has the ability to tell me, effectively, to just close the deal, and in doing so, throw my client under the bus. Not. Going. To. Happen. 18.5 + years and counting ... may you find the happiness and success that found me. 

Jul 31, 2021 06:11 AM
Rainer
135,204
Jerrill Ewing
N & J Lake Properties, LLC - Eatonton, GA
Builder

How long have other agents been there says a lot.  My wife's last broker was where she stayed until she died.  And even when she was very ill her broker kept showing up with checks for her repeat business even though the broker was doing the job.  She's family to me.

Aug 01, 2021 01:55 PM
Rainmaker
916,348
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

There is only 3 questions you should ask. The response to those question reveal EVERYTHING you need to know about that broker and office. These lead to OBJECTIVE criteria rather than subjective 'feel good' bs.
Those questions are:
1. How many licensed agents are in the office regardless of the role they fill. (everylicense)
2. Total transactions sides for that office in the last 12 months.
One brokers office in the Tampa Bay area closed 1,230 sides. Wow! But the answer to question on was 3,000. Clearly this is the office where agents go to die.
If you read my book you would know to interfive agents and brokers to gather the following information.
What is the average number of transactions per agent in your mls area?
What is the average number of transaction per agent by FRANCHISE.
This is important information. If the AVERAGE is 8, and the broker you are interviewing shows the data to be 5 per agent in that office you can not the systems in that office ARE NOT WORKING.
ON the other side if the broker reveals the offic average is 15, you can know the training, support, marketing, compensation and systems of that office ARE working.
And, if the broker asks to see YOUR real estate agent business plan, that's when you do the happy dance. You do have a business plan, right? All small business owners are highly encouraged to have one.

Aug 01, 2021 08:16 AM
Rainmaker
7,043,319
Roy Kelley
Retired - Gaithersburg, MD

Ask about the services that will meet your personal needs.

Jul 31, 2021 11:26 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Join a great team like those with Ben Kinney or Kristan Cole , they will teach you how to sell real estate at a much higher level.

Jul 30, 2021 08:26 PM
Rainmaker
696,473
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

What are your fees?

Aug 04, 2021 05:35 PM
Rainmaker
870,828
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Do you pay cash? ( just kidding).  Tell them that you'd like to work for sellers, buyers, or both. Then ask about training opportunities, if any trechnology support is available, and ask other agents about mentoring programs?

Aug 02, 2021 03:59 PM
Rainer
353,842
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

What do you need to be the zillion dollar happiest real estate agent? Information, answers, mentoring, kindness, a kick in the joy juice, a pep talk, someone to look at your mailer, direct you to a lawyer, tell you what worked for them, keep you honest, make you get up out of bed- make the bed - do jumping jacks smiling and sing on the way to work. The answer is to train your heart, open your eyes to experience, and plan for the best.

Aug 01, 2021 02:04 PM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

There are many important questions to ask before making the commitment to a brokerage. Do your research and be diligent!

Aug 01, 2021 10:16 AM