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Michael Scott, North Palm Beach County Real Estate (Seeking Employing Broker)

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Rainmaker
4,900,966
Richard Weeks
Dallas, TX
REALTOR®, Broker

Congratulations on passing  your exam.  Interview brokerages you think you would like to be a part of and get their answers to these questions:

1. Do you provide formal training to agents?
2. Is there a program where new agents are mentored by top producers?
3. Are any of my training or class expenses eligible for reimbursement?
4. What is the starting commission split? Does it change with production?
5. Is there a bonus program?
6. What costs am I required to cover?
7. Am I required to have additional auto insurance?
8. Where do you advertise and who pays for it?
9. Are my desired farm areas already taken by other agents in the company?
10. Will I receive a copy of company policies to review?
11. What is the dress code for the office?
12. How many agents are in the company?
13. What is the average gross volume of your agents?
14. What commission does the company typically charge? Am I allowed to offer a lower rate?
15. What is your policy on referrals within the company and to outside agents?
16. Is there any clerical or support assistance available through the company?
17. Do you have regular meetings?
18. Is the environment team-based or individual?
19. Do you handle commercial listings or property management?
20. How many listings does the office typically have?
21. What is the company’s market share?
22. What are your office goals?
23. What are your expectations of me?
Jan 31, 2018 10:50 AM
Rainmaker
5,112,471
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Congratulations and wishing you much luck in your new career. Let me point out a small subtlety... brokers do not "employ." You are now an independent contractor and you affiliate with a brokerage you are not employed by one. 

Jan 31, 2018 12:16 PM
Ambassador
2,162,898
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Congratulations! Interview several brokers in your area to find a good fit before you join their brokerage. Then it's learning, learning and more learning! Don't forget your post licensing class!

Jan 31, 2018 10:53 AM
Rainmaker
1,153,794
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

In simple terms my recommendation will be find a Broker that can educate and mentor you the most while dipping into your pocket the least. Jupiter has many great brokerages and associates to learn from. I'm partial to a few although they may not be your best choice at this juncture. Get those questions ready for them. Welcome!

Jan 31, 2018 10:52 AM
Rainmaker
399,703
PropertyMinder (AccelerAgent)
PropertyMinder, Inc. - San Jose, CA
Modern Tools for the Modern Agent

Hi Michael,

Congratulations on passing the exam! And welcome to Active Rain!

Part of your question ("What should I be looking for in an employing broker") has been asked a few times in the past - so I thought I'd share some past Q&A threads with you:

What qualities are important when looking for a broker to work for?
Just getting started in a career in Real Estate. How should I go about looking/choosing/applying for my first broker to work for?

What qualities are important too look for when choosing a broker to work for?

- What qualities are important to look for when choosing a broker to work for? #2

Hope those help - have a great day!
-Tim

Jan 31, 2018 10:48 AM
Rainmaker
5,583,328
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

congratulations.... get some training and then hit the pavement.....

Jan 31, 2018 10:47 AM
Rainer
291,007
Byron K . Jones
Coatesville, PA
List Today - Sold Tomorrow!

Congrats! Plenty of Good Answers above Fred Griffin or Annette Lawrence , Palm Harbor, FL 727-420-4041 will set you straight

Jan 31, 2018 10:46 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Congratulations Michael.

The easy part is over.

What should you be looking for in a broker?  That is a much better question that 'what qualities should I look for in a broker?"

You should look for in a broker:

  • A willingness to help you implement your real estate agent business plan, You got one of those.....right?
  • The resources to connect you with a mentor experienced in implementing a business strategy aligned with your business plan.
  • Will COMMIT to engaging you in an aligned transaction within 30 days.

But there is more you MUST know to not fall into the 90% who never have their 2nd year anniversary. But it is easy. You need the answer to two and only two questions.

1. How many licensed agents are in that office.

2. Total transaction sides for that office the past 12 months

From these two you can derive EVERYTHING you need to know about that office based on facts not sweet sound words.

Sweet words quickly turn bitter in the presence of disappointment.

So what do you do with the responses to #1 and #2?  

It all about starting your real estaate career by Getting On The Right Track.

Jan 31, 2018 10:11 AM
Ambassador
2,684,569
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Greetings from Tallahassee! 

Visit the website of Florida DBPR, get familiar with the site (apply for a license, etc.)

  Interview several brokers:

   What do they expect from you?

    What are they offering you?  Training?  Mentors?  In-house referrals?  Brick and mortar location?  Shared desk?  

    What monthly fees will you be charged?  

     What is the commission split?

    Who pays for E&O, you or the broker?

    May I see the Independent Contractor Agreement that you and I will be signing?  May I take it to my attorney (if you don't understand it)?

     What is your advertising policy re:  me having my own website?

---------------------

   See my blog post for new agents 

Jan 31, 2018 10:01 AM
Rainmaker
1,231,853
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Congratulations on passing the Florida exam & best of luck in your new career.

Jan 31, 2018 10:01 AM
Ambassador
2,187,593
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Michael,
Congratulations.  Here is an article you might be interested in: Choose Your First Broker Very Carefully by Patricia Kennedy 

Keep in mind, 87% of new licensees fail within 2 years.  Don't be a statistic.  This is the first step in setting yourself up for success or failure. 

Onward...

Jan 31, 2018 09:56 AM
Rainmaker
2,191,798
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

The nearest KW Office !!!

Feb 01, 2018 06:12 AM
Rainmaker
2,221,377
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You have many great answers here Michael Scott 

Congratulation and good luck to you.

Jan 31, 2018 05:39 PM
Rainmaker
2,784,566
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Pick a Broker and pick their brain

Jan 31, 2018 09:51 AM
Rainmaker
564,494
Maria Sapio
Keller Williams of Central PA - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

Congratulations Michael Scott - Jupiter is a beautiful area...I wish you much success!!

Jan 31, 2018 09:50 AM
Rainmaker
7,863,184
Roy Kelley
Retired - Gaithersburg, MD

Select the office that will best meet your personal needs.

I like to be surrounded by highly successful people.

Jan 31, 2018 09:49 AM
Rainmaker
1,846,901
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Good luck & congrats. I don't give broker advice but there is plenty for you to look thru with previous questions.

Jan 31, 2018 09:41 AM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

What broker did you chose?

Jan 03, 2019 10:09 PM
Rainmaker
2,071,025
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

How was your first year, Michael?

Jan 03, 2019 08:38 PM
Rainmaker
5,877,335
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Congratulations and passing, and Richard Weeks has offered quite a thorough list.

Feb 02, 2018 02:14 PM
Rainmaker
1,506,013
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Congrats!  You'll need to find a broker that offers training.  What you learn in school has very little to do with actually selling real estate.  Good luck!

Feb 01, 2018 09:27 AM
Rainmaker
4,800,132
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Interview many and try to find one that works for you.

Feb 01, 2018 05:49 AM
Rainmaker
5,239,023
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Chemistry with the sponsoring broker, mentorship possibilities, and inhouse training!

Feb 01, 2018 05:43 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Richard Weeks nailed this one!

Feb 01, 2018 05:23 AM
Rainmaker
4,434,177
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck.

Feb 01, 2018 04:02 AM
Ambassador
6,417,445
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Congratulations Michael!!

Give me a call and I will help you find a Keller Williams market center to lead you to a successful career.

Feb 01, 2018 01:12 AM
Ambassador
3,167,614
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

a broker who is available is my number one bit of advice for new agents.

Jan 31, 2018 10:19 PM
Rainmaker
1,624,753
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Congratulations! 

Jan 31, 2018 10:17 PM
Ambassador
3,383,384
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

In looking for a broker, do NOT focus on commisison split.  Find a broker that offers great eductation and mentoring.  

Jan 31, 2018 08:46 PM
Rainmaker
4,319,773
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

Michael Scott - I can't beat the answer from Richard Weeks ....

Jan 31, 2018 08:05 PM
Rainmaker
3,988,013
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

You need to start interviewing. Put together a series of questions and include what you have to offer a broker. I would ask you that question. 

Jan 31, 2018 07:39 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I just wrote a post on this topic. Check it out. Richard Weeks has a great answer. 

Jan 31, 2018 07:04 PM
Rainmaker
4,176,540
John Pusa
Glendale, CA

Michael Scott congratulations on passing the exam.

Jan 31, 2018 06:40 PM
Rainmaker
3,986,308
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Congrats, now contact every person you know

Jan 31, 2018 06:09 PM
Rainmaker
1,712,776
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Quite a list from Richard Weeks.

Jan 31, 2018 05:34 PM
Rainmaker
4,272,934
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Get busy and stay busy building your sphere...

Jan 31, 2018 02:28 PM
Rainmaker
5,772,581
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Congratulations to you.  You are just beginning to learn real estate .  A big thank you to Richard Weeks for his great list.  A

Jan 31, 2018 01:19 PM