When you have your license, who do you work for?

Date:   8/27/2009 9:53:33 PM ( 15 y ago)

Real estate agents: How to select a potential broker-sponsor

The big day has come and you are finally getting your license in the mail. You worked real hard to pass the state boards and you can now relax. Haa, not now - your job is just starting. You must decide which Brokerage you want to work for. It sounds very easy, but it is the choice that will make or break your future and your career. Almost every Brokerage will hire you and welcome you on board, but it may not be the best for you.

You need to be in a place that will not only sponsor you, but train you how to make lots of money. The real estate school did nothing but teach you how big is a mile and about dual agency. It does not teach you how to get a listing or how to finance a home with nothing down. So now what do you do? You are fresh out of school, broke and so many questions in your head.

Steps to interview a potential Broker or Sponsor:

1. Call several offices that you think you might want to work for and schedule an appointment. Listen to how they answer the phone, treat you and respond when you can't make the appointment they choose. The tone of the voice with the first meeting should tell you something of how they treat their agents and their clients.

2. Let not commission be your guide. Commission is important, but it should be a minor consideration at this point. For 70 percent of nothing is still nothing. 60 percent of a million dollars is a lot. The normal commission for new agents is between 55-65 percent.

3. Ask about weekly training sessions with the company.

4. Who would be the one training you? Would this person be your partner?

5. Does the Brokerage have an Reo Department and a Commercial Lease Department?

6. How do you get paid?

7. Do you have to join the Board of Realtors before the first sale?

8, Do they supply you with 1000 business cards and signs. If the signs are cardboard, throw them away in the trash.

9. Do you get to have floor duty?

10. Can you sit on open houses, even though you have no listings?

11. Is there a contractual agreement about the length you will be at their office (such as 1 year or more)?

12. Who will teach you about financing?

13. What time are you expected in the office?

After you ask all of these very important questions, you should have a good feel of the way they handle themselves. Body language and tone are everything. First impressions are very important, so go dressed to kill. Never give an answer while sitting in front of the Broker. Act like you are not that interested and you will let them know. Be nice and friendly, but never commit to a deal. I guarantee you that within a week, that Broker, if they liked you, will be calling you back with a better offer than the first one. Be smart and wait.

Learn more about this author, Barbi Trejo.

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