You've Decided on a Career in Phoenix Real Estate: Top 10 Things to Do When Deciding on a Firm

Congratulations on your decision to become a Phoenix REALTOR^®! You've passed your state licensing exam. Your next step is to find a company that's a good fit for you. Smart prospective agents will interview with a number of real estate firms before deciding where they will begin their careers. Here are the top 10 things to do when deciding on a real estate firm:

1. Hit the Web (ActiveRain is a GREAT place to start) or visit your local Chamber of Commerce to find out which real estate companies in your community are best represented. Which ones seem to make the best impression on you? Make a list of the agencies you want to visit.
   
   
2. Make appointments with the designated broker of each agency on your list. Larger companies may have recruiting managers you will speak with before you meet the designated broker. Think of this meeting as a two-way interview: the broker must impress you as much as you impress him/her.
   
   
3. Dress appropriately for the appointment. In Phoenix, we're mostly business casual - but it's always better to err on the side of caution and overdress, rather than dress too casually for an interview.
   
   
4. Ask about the company's training program. You're new to the game, so this is an essential component in your search for the right firm. Is training free, or will you be expected to pay all or a portion of the costs?
   
   
5. Ask how many agents work for the company now and how long they've been part of the team.  A high turnover rate could indicate a lack of emphasis on training or other problems.
   
   
6. Leads are essential for any new agent's success. Your database is your own personal goldmine. Ask the broker how he/she will help you grow your database. Also find out how leads are distributed within the agency.
   
   
7. Ask for an itemized list of start-up expenses.  You will be required to join a local association and national association as well as pay for your licensing costs. Does the company supply signs or lockboxes or will you be required to purchase your own. Will you work from home or will there be desk or office monthly fees at the office? Does the broker charge transaction fees?  Most likely you'll need to purchase laptop computer as well as other software programs to manage your data base and create presentations. Fees can vary greatly for all of these items. There will be other fees for website, blogs, marketing, postage etc.   Remember, even though you will have a company behind you, you are essentially starting your own business - so you must expect the attendant expenses!
   
   
8. Find out how commissions are paid. Are they paid immediately upon closing? What is the typical commission split between the office and agent? Does the commission increase as your sales increase? If you are interviewing with a franchised agency, be sure to ask what percentage of each commission goes to the franchise company.
   
   
9. Ask whether the firm carries Errors & Omissions insurance for their agents. If so, find out exactly what is covered. You might want to discuss the policy with the insurance carrier to make sure you are adequately covered. Ask the broker if there is a separte fee per closed transaction or if the broker covers this expense. E & o coverage can add up quickly for some companies and the costs may be passed on to the agents.
   
   
10. This will be the place where you spend a good portion of your time, so try to get a general feel for the atmosphere in the office. Is it simply polite, or do the agents seem to really enjoy their work and this office environment?  Get a 'feel' for the company culture - I suggest going back for a second interview as well as talking with an agent or two that is currently working with the firm. This is an important choice - be sure to sleep on it and not make a quick choice. 

Make sure you get all your questions answered to your satisfaction. If a broker or hiring manager ducks questions or seems distracted, those are red flags that working at such a company may pose problems later. Put your intuition into full gear - and if everything feels right, go for it!

Let me know if you have any other questions. I've been in the real estate industry for a long, long time and I'm happy to share all I know to make your job search easier. And, of course, if you're starting your career in Phoenix, make an appointment to come see me in person!

Anna Banana

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Do you live in the Phoenix, Arizona area? Are you thinking about making a change in real estate companies? Give me a call at 602-595-8900 or e-mail me.

Let's talk about your marketing strategies - and how you can better teach others to refer business to you.

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