What’s going On?
Well, it has been a while since I have been active in either real estate or blogging on ActiveRain. Many of you know, and have wished me well in the past, that I lost my wife to cancer on December 10, 2010.
For the 8 months leading up to her passing and for the year following, I was not at all active in Real Estate. However, I have decided it’s time to get back on the horse and get back to the professional passion that has driven me for years.
The question is – where do I go from here. When I left the game I was a fairly successful REO listing agent. Well, that ship has sailed, I don’t see breaking back into that niche as anything very easy to do these days. So, I need to go back to the basics and figure out what a real estate career is all about in 2012.
My challenge will be to get up and running as quickly as possible with as little out of pocket at possible…because there is very little in these pockets. Yeah, the economy has been hard on me, just like so many others. Now is a time not to worry about what got us here – but how the heck are we gonna make it better. That’s what I am all about, today.
FIRST THINGS FIRST
Before I can get back into selling Real Estate professionally, I need to figure out where I am going to hang my license. From 2007 forward, I was with a virtual brokerage – one that paid me the greatest commission but also one that gave me the least amount of support. At the time, I was riding high on top of my game and could find the support I needed from my friends and peers here in ActiveRain and other professional relationships.
Today, I need more – today I need an office that can help me grow from the ground up. I may not be a new agent – but a lot sure has changed in the last couple of years, and I need to figure it all out. After all, I am not looking at going back into being an REO listing agent, as much as I would like to – but rather starting from the ground up working with retail residential buyers and sellers of homes in the Temecula – Murrieta valley.
WHAT TO LOOK FOR IN A REAL ESTATE OFFICE
I have my own criteria of what I am looking for in a new office. Over the next week or so, I plan on interviewing several local Temecula – Murrieta Valley real estate brokers to see just what they bring to the table and see if I will be a fit with my personality.
First, when I look at a real estate company, I want to make sure that they have a sterling reputation across the entire Temecula – Murrieta valley. I am not looking for an agency that specializes in niche markets like Wine Country, De Luz, La Cresta, or any of the other unique neighborhoods across the valley. Not only does my new office have to service the entire area – they must have an image that I would be proud to market ‘The Excellence in Real Estate Team’ under and as a part of that office.
The company I work with must of course be customer service oriented. Let’s face it – talk is cheap. I may not have the warm and fuzzy qualities of many Realtors – I prefer to be more business-like. I just need to know that the people I work with can be warm and fuzzy. In other words, they must be able to pick up the slack where I have my own personal shortcomings (warm and fuzzy not being my greatest shortcoming either).
Customer Service, of course, is more than being warm and fuzzy – but the people I align myself with – MUST have a passion for it. End of conversation and anything less is a deal breaker.
The second quality that I will be seeking in my new real estate home will be to find a strong Listing Company.
I know that the most successful and productive offices and agents are those who focus on listings. A regular diet of new listings is what fuels the engine of success in real estate. I know that in order to last in this business…you must list!
SOME IMPORTANT QUESTIONS TO ASK
Once I narrow the list down to several offices, I will have to prepare to interview them… while letting them think they are actually interviewing me - lol).
First and foremost I will want to know what it will cost to hang my license with a particular office. Coming off of 2 years of inactivity – like many Americans, I need to make every dollar count. How much is the E&O insurance? Is it paid annually or with each transaction? Are there any desk fees? Administrative fees? Do they have an in-house transaction coordinator and how much will that cost?
I’ll need to know what the office is doing to generate leads and how they are divided? Is it on a rotation? Floor time? Do I buy the leads or are they part of the office package?
What about training and office meetings? Will they hire me to conduct a training class?
Vendors? Do they provide a ‘preferred list’ and what happens if I deviate from that list?
What do I have to buy? My own business cards and signs? Lockboxes? What else?
Then, of course I need to know about their Internet marketing and how it will benefit me. Will they appreciate my own internet presence and accommodate my own personal marketing program.
I’ll want to establish an exit strategy before I ever start. What will happen with the listings, buyers and escrows I have if and when I leave?
Then of course will be the commission split. It will be hard to accept less than the 100% I earned for several years, as an REO Listing agent. The truth is I am willing to pay though for the professional environment and support system of a local Temecula – Murrieta valley real estate office.
Does anyone have anything else to add that I should consider?
Wish me Luck…
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