Trials of a Newbie Realtor & Choosing a Brokerage

When I first got my real estate license several years ago, I set out to interview lots of brokerages.  The first one that I went to was one of the BIG companies (who shall remain nameless) said they would allow me to start part-time (which back then, many brokerages did not want part-time Realtors) and progress into full-time once I got my feet under me.  I asked about the split, and it was pretty high and had no "cap" - but they assured me that they would train me and that their value and brand was worth the high dollar amount I would be giving up. They assured me they would send me leads, too, I just had to pay $100 to be on their company website.  Then they showed me the shiny flat screen TVs on the walls, brand new computers, the fancy conference room, the high tech features of the office - and not only that, I would have my very own cubicle with a phone, and they would buy my first set of business cards for me.  They even said they would send out Just Listed and Just Sold postcards for me, for free.  I was sold, and did not proceed to interview anywhere else. 

A few weeks into my real estate career, my cell phone rang and it was a local newspaper, wanting some stats for a piece they were doing on the market.  Omigosh, I thought!  I will be in the paper!  This would be huge for my budding career.  I told the reporter I would gather some stats and call her back.  I quickly phoned my broker and asked her for some office sales stats (since I didn't have my own yet) and told her excitedly that we were going to be in the paper.  Surely, she would be thrilled too, to have the brokerage highlighted.  Instead she said, give me that reporters name and number and I'll call her back.  Reluctantly, I gave it to her, and she apparently called the reporter and told her to call the board of Realtors if she wanted stats.  What?!  First red flag. 

As a newbie, I was full of questions - I didn't want to do something wrong and end up getting sued.  I'd ask the broker, and she'd give me an answer, almost in an angry way, as if I was a bother to have asked. And half the time I really didn't have a clear understanding of what I needed to do after speaking with her, she was so vague.  I don't think she really knew what to tell me.  Huh?! Second red flag.

Not wanting to tick off my broker any further, I'd ask other agents in my office questions but they would give me either two word answers or no answers at all, not wanting to give away their success secrets.  It felt very dog-eat-dog.  Meanwhile, as the young "kid" in the office, all the seasoned agents would come to me with tech questions, expecting answers but none would help me in return.  One lone Realtor took me under her wing and helped me out and even went on my first listing appointment with me.  She was a top producer and quit the business soon after that when the market started to decline.  Apparently she wasn't getting enough training either on how to move with the market.  Oh no!  Third red flag.

Not long after that, I had my first listing.  The market was starting to decline and my Sellers home was no longer worth what he owed on it, and he had to move up north to be with a sick relative.  He asked me to short sale his home.  At that time, short sales were starting to become a lot more common, and I had no idea how to do one, but I said sure, I will figure it out.  I went back to my broker, and she said, "Sorry, we don't do short sales here.  You will have to cancel the listing and charge the Seller a $500 cancellation fee."  Excuse me?!  Fourth red flag.

Finally, I decided I could take it no more.  I had 4 listings by that point, and I knew my broker would not let me take them with me to a new brokerage, but I felt I had to do what I had to do.  I called Keller Williams Realty - I had seen their big red sign on a major road nearby and always wondered about the company.  They didn't do TV advertising, and they hadn't been around as long as Re/Max or Century 21, but yet I saw red Keller Williams signs in front of a lot of homes.  So I made the call and met the Team Leader for lunch at Chili's.  She explained to me that Keller Williams was different - and I would know it as soon as I stepped into the building.  After she explained to me how the KW commission structure was different, that KW has a profit sharing program, and best of all, how the KW culture was like a family, I decided to check it out.  Still skeptical, I went back to the KW office and immediately felt a different vibe.  All the Realtors were either working in offices with their doors OPEN, or busily working in the office and chatting with one another, rather than behind a closed office door.  I could hear them trading stories and questions about their business with other Realtors, some getting advice about a listing, or helping another use the scanner.  They welcomed me with smiles and words of encouragement and told me I would love it there.  And I do. 

What about my 4 listings?  Well my new Team Leader said she would see what she could do.  She phoned my old broker to tell her I was coming to Keller Williams and asked if they could work something out with the listings - after all 1 of them was going to be a short sale and 2 of them were overpriced, only 1 other one had any possibility of selling in the near future.  So the old broker agreed to a referral fee if the listings sold during the original listing period.  I was very happy to be able to keep the listings so I had something to advertise and hopefully at least get some buyers, although at that point, I would have come to Keller Williams with or without my listings. 

Though the KW office was high tech also and had a beautiful lobby and nice conference rooms, they didn't give me a free cubicle (although there was an Agent Resource Room with open desks, computers, phones, etc.), and they gave me only temporary business cards - the shiny nice ones I would have to order myself.  No free signs or lockboxes - they told me it was my business and I would have the expense of these items.  But this time I didn't mind that I wasn't getting a lot of "little" items for free.  I could handle a lockbox here and sign there if I had listings.  The value of being at KW went beyond those little business expenses that  I could really handle on my own.  They weren't going to hold my hand and baby me, they were going to help me build my business in a proven way. 

If I asked the KW broker a question, she answered me pleasantly and clearly, and thanked me for asking.  WOW.  And  KW didn't promise me leads - but told me they would teach me how to find leads myself.  We've all heard the expression - Give a man a fish, he'll eat for a day.  Teach a man to fish, and he'll eat for a lifetime...  Well its true.  And that they did. There were even "Realtor Panels" where the top producing agents would share with the rookies how they did it.  Wait - you mean they aren't scared to tell me their secrets?  Wow.  After all, KW is a profit sharing company, so it benefits us all when our agents succeed.   I started attending the many classes offered at KW, and learned quickly how to lead generate.  As my career progressed at KW, I rented an office because I loved being able to walk out of my office if I had an issue come up or a question, and I could poke my head into another agent's office down the hall and ask them.  No one minded, in fact, they were happy to help.  How cool.  I really do love this place, I've been here 3 years now.

Most recently, I've become a Training Director at the Keller Williams Realty in Tampa, and I still sell real estate as well.  Now I'm helping teach Realtors, newbies and top producers alike - because your education never stops.  And the agents teach me new things everyday too!  I learned an expression at a recent KW seminar called BOLD - "Do what you've always done, and you'll get what you've always gotten".  How true.  I love that Keller Williams continues to push and encourage me in my business to take it to the next level - they've helped me adjust my mindset.  From using the techniques I learned at that seminar, I got $1.57 Million in new listings in 2 weeks.  Tell me KW isn't different?!

Come attend a class at KW and observe the difference here for yourself.  Don't live in Florida?  Let me know, and I'll put you in touch with your local Keller Williams so you can check out a class or two.  Check out our Tampa Realtor Class Schedule and drop me an email if you want to attend - I'll even give you a tour.  You're going to love it here too.