648,882
I recommend getting a good idea of the culture, support, lead generation, adaptation to technology, professional alliances, and expectations of management. If you're new, I recommend you put "support" over "splits" when you prioritize. 100% of nothing = NOTHING
-
John Juarez
Fremont, CA
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Susie Kay
Plano, TX
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
1,090,645
- What kind of training will you provide me, in exchange for the split?
- How long do you retain your agents, average and long/short? I SO think that is critical. Happy agents stay, as a rule.
- Can you help me with my business plan?
- How available/who is available if I get stuck or have questions? ALSO critical. You don't know anything and SOMEONE needs your back.
- Can I review your Policies/Procedures Manual?
Many more, but if they flunk out on these keep looking.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Hella M. Rothwell, Bro...
Carmel by the Sea, CA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Susie Kay
Plano, TX
-
Lyn Sims
Schaumburg, IL
-
Debe Maxwell, CRS
Charlotte, NC
-
Jerry Newman
San Antonio, TX
1,530,024
Some off the top of my head:
- What are your requirements of agents (weekly staff meetings, use of transaction coordinators, etc.).
- Do you provide any services (transaction coordinator, copies, flyer printing, etc.)
- Do you offer any training/mentoring and what does the program consist of
- What is the agent turnover rate
- Does the brokerage run a flat fee model, a split model, or a combo of both
- If a split model, what is the progression ladder and what are the caps
-
Olga Simoncelli
New Fairfield, CT
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
509,499
Think about what things are important to you and write them down. Ask the broker how he or she would address every item. For example, most real estate transaction happens during the weekends. So as a new agent, you probably would want to know how accessible your broker is for questions on the weekends. Keep in mind that some brokers have a high split and yet they don't provide you much support.
You can only interview so much but in the end you will join a broker and decide whether you like it there or not. Don't be afraid to move to another brokerage if you are not happy with the current one. Also if you are currently employed, do not quit your job. From observing the first brokerage that I joined, only 20% of new agents stay in the business.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Susie Kay
Plano, TX
5,427,162
Can I meet my mentor?
-
Abby Stiller
Cape Coral, FL
-
Doug Dawes
Topsfield, MA
-
Peter Testa
Danbury, CT
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Barbara Todaro
Franklin, MA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Susie Kay
Plano, TX
5,584,078
as a newly licensed agent, you need training and 24/7 mentoring by a seasoned agent.... ask for both.... don't even think about the commission split unless you have something significant to bring to the table.... i.e., massive SOI, especially local heavy political contacts....
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Jerry Newman
San Antonio, TX
1,598,552
How the broker will give you training.
-
Abby Stiller
Cape Coral, FL
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Peter Testa
Danbury, CT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
6,618,651
Tell me about your Training, Coaching, Technology, and Culture.
-
Bob Crane
Stevens Point, WI
-
Bob "RealMan" Timm
Minot, ND
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
637,484
LOVE this question. I'm an independent broker who has worked her tail off the past 13 years, through good years and lean years. Then someone with a new license in their pocket comes into my office and pretty much the first thing out of their mouth is about the commission split and what kind of training I'm giving. Here's my answer: go to one of the BIG companies and get training from them; they advertise it, take advantage of it. Maybe at some time in the future, when I've seen you work the market, maybe we can talk again. And, no, I'm not looking for someone "willing to learn". With all the laws, rules and regulations, that's pretty scary, I'd have to monitor you all the time. And why would I want to do that? The franchises have it all worked out, all you have to do is compete with all the others there.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Barbara Todaro
Franklin, MA
2,486,290
If I were starting out today the 1st thing I would ask is if there is a team with experienced agents on it that I could join Chris Marston . There is no better teacher than experience.
-
Debe Maxwell, CRS
Charlotte, NC
-
Abby Stiller
Cape Coral, FL
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Peter Testa
Danbury, CT
4,691,176
Do your homework. On the industry as well as the broker/brokerage. Review the answers provided here and see what fits for you and your situation. There are many posts that have been written by ActiveRain members that give insight that can give you a feel for questions that will work for you.
Good luck.
-
Abby Stiller
Cape Coral, FL
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
-
Peter Testa
Danbury, CT
-
Bob "RealMan" Timm
Minot, ND
2,280,300
What Candice A. Donofrio said. Training and mentorship is crucial in the beginning. If possible intereview some other agents in the office AND agents that have left that firm.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Candice A. Donofrio
Fort Mohave, AZ
1,865,842
Please see the question asked by @paul s henderson.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Kathleen Daniels, Prob...
San Jose, CA
-
Susie Kay
Plano, TX
162,739
questions you ask from the experienced agent to new agent are pretty different, what do they offer, what is covered, marketing, xtra fees- you want the bottom dollar of if you sell X for $500K, what goes in your pocket...good luck
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Susie Kay
Plano, TX
-
Debe Maxwell, CRS
Charlotte, NC
1,243,065
Let's put it this way...A bad question is one that goes unasked
-
Debe Maxwell, CRS
Charlotte, NC
-
Abby Stiller
Cape Coral, FL
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Peter Testa
Danbury, CT
-
Bob "RealMan" Timm
Minot, ND
-
Doug Dawes
Topsfield, MA
2,071,135
Well, dear Chris.
Feels like you know the answer.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
834,953
How do you support your agents? What is the starting split and how offten is it reviewed. What are your requirements?
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
5,420,942
Ask about the traing program for the first 60 days, who wil conduct it and if there is a cost involved? Next do you have a mentoring program and how long does it last? By now you should have a feeling for your chemistry with the broker. Good luck!
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
4,273,325
Ask about support, education, and office fees and commission splits..
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
1,713,576
It is all about support to me. I want an experienced broker who is available to me so I dont' make too many rookie mistakes. I also want the broker to take an active interest in makinbg sure I don't just make sales I also keep as much as possible. One day you will need it.
-
Debe Maxwell, CRS
Charlotte, NC
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Nina Hollander, Broker
Charlotte, NC
1,745,727
Is the managing broker competing for business? If so, move on.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
773,005
It really depends on what is important to you but I'd ask- What's the commission split? Are there any other fees? Does the Broker list properties? Am I required to attend meetings & do floor time? What kind of training will I receive? Do some research on your own too, on Google.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
5,062,280
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? |
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
8,079,015
Ask about training, support and the fees.
-
Abby Stiller
Cape Coral, FL
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
3,406,825
Are you willing to take a lie detector test during this interview?
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
2,827,430
Well the Broker wants to know what you bring which influences what he will bring/offer you. Have your first impression on "10", let your skills bank come out for him to sample and ask questions meaningful to the Brokerage. When he sees you care you will see he cares. Be careful about the "whats in it for me" which lurks in every-ones mind. Bring it up skillfully or let it come-up
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
5,248,384
Interview the agents who are associated with the brokerge. Find out about training programs offered if you're new.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Peter Testa
Danbury, CT
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
921,504
There are only two questions you need to ask. From the responses you can extrapolate all the information you need. These to question deliver OBJECTIVE measures of the brokerage, not feel good stuff that is subjective.
Of course, you will have in hand your business plan and stats created by following the On The Right Track' guide.
Use the guide to help draw the needed conclusions from these two questions:
1. How many agent, (EVERY LICENSED PERSON) in the brokerage?
2. Total transactions sides for that brokerage in past 12 months.
It matters not a whit what escapes the lips of the broker, but what does matter is the RESULTS. You know what you need (business plan) and you now know what the broker delivers.
It is your choice to go with the facts or chase the "We got train'n' nonsense.
Comment added Sept 11.
In this business, many organization exist on the absurdity they can create. One such offer to your question contains a list of 104 questions to ask the broker. ALWAYS be aware where many words exist transgression occurs.
As a new agent your #1 goal in to get involved in transactions. You learn by doing not warming a stool in a train'n room. When you actually have a business THEN you start to process of optimizing income.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
195,689
Find out about the training and the culture.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Debe Maxwell, CRS
Charlotte, NC
1,153,799
You'll need answers for these typical broker's questions first before asking anything.
1 - What made you decide to become a real estate agent?
2 - How much income were you expecting to earn in your first year?
3 - How many hours per week are you willing to invest to accomplish that goal?
Your Questions are contained in this link c/o Keller Williams. It is the most conclusive I could find and know I have no affiliation with them. This is for information purposes only but will certainly satisfy any want or need at this juncture. Best of luck!
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
-
Nina Hollander, Broker
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
5,773,924
SO MANY GOOD ANSWERS,
PAY ATTENTION TO ALL OF THEM...A
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Nina Hollander, Broker
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
3,234,701
Looks like you have some fantastic answers from experienced professionals. It's up to you how to proceeed from here Chris!
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Abby Stiller
Cape Coral, FL
-
Peter Testa
Danbury, CT
448,698
What is the worst sanction you have heard of someone receiving.
What they believe the most important fiduciary responsibility is.
In all honesty, ask open ended questions to them so they do the talking and just listen to them. What are they going to offer you? Training, training, training. Mentoring, support, tools, and follow through on the empty promises they make to sell you in the interview.
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
-
Candice A. Donofrio
Fort Mohave, AZ
1,257,733
They are claim they provide tools and offer leads but you have geerate your own leads on your own 100%.
They all claim they will train you. Unless it is paid mentor program much skills are to be picked up by yourselves.
Suggest you go to open houses and interview agents. The more experienced agents who has been around listen to their suggestions.
-
Wanda Kubat-Nerdin - W...
St. George, UT
-
Doug Dawes
Topsfield, MA
-
Bob "RealMan" Timm
Minot, ND
814,930
Ask about training, support, splits
-
Bob "RealMan" Timm
Minot, ND
-
Debe Maxwell, CRS
Charlotte, NC
5,961,258
What is your education schedule, and will you be available when I need you?
1,413,010
"What sort of additional training can you provide to enable me to be successful?"
"Will I be on my own or will I have a mentor whose job it is to help train me?"
5,138,847