Real Estate Newbies - Is commission split your top concern?

After 11 years in the Real Estate business, at age 60 I decided to re-invent myself once again and I went to school to get my Real Estate Broker License.  During one of the breaks, a pre-license student asked the instructor what type of commission splits should they ask for when looking for a Broker.  After several politically correct answers from the instructor and the broker candidates, I decided to chime in on the subject.  My answer?  Don't worry about your commission split when you are brand new.  Instead ask your potential broker,  what type of training and mentoring do you offer the new agents to help them become successful?  How much time is spent with the new agents?  What tools do you have available to compete in this business?  If given training, mentoring and quality time to make you a successful Real Estate agent, then commissions will be offered by plenty of brokers to make you part of their team.

My first Broker in this business had me come to the office 2 afternoons a week to listen to tapes about how to sell real estate and, oh yeah, I was trained to answer the phone!  He changed the office 3 times in 2 months and our niche changed 4 times in the same period.  Needless to say, I started shopping again.  One broker inviyed me to his office which was a unit at a strip center.  Four agents were sitting at desks playing solitaire, reading jokes in email and one proceeded to tell me how slow everything was on this business.  Next!

I visited another office to talk to the business manager.  While waiting for the appointment, I started chatting with an agent who seemed to be searching for properties online.  I asked him what the Broker was like and he laughed saying he had been there for 6 months and had still had not met his Broker.  Did not wait for the meeting!  Eventually, I found Brokers who were great mentors and trainers.

My partner and I are starting a new Real Estate business.  First we established our goal, then we established a plan to reach the goals and now we are working our plan.  We decided we would start recruiting when we demonstrated our business model produced our desired results - money in our pockets!  As we work this plan, a training and mentoring program is starting to form.  Again, my advice to newbies, find a Brokerage that will help you find success in Real Estate.  Then, the money will come!

Here's a call out to other agents and brokers -  If you have any similar stories (or nightmares), feel free to tell us about it!