intersted in fellow agents/brokers opinions

By
Real Estate Agent

I have a question I want to ask all the agents and brokers involved in Active Rain...

I just recently resigned from my association with the Firm I've been working for over the last five years, and am in the process of making my decision as to where I'm going to go from this point forward.

What do you think is a better choice, joining an existing firm or striking it out on your own?

Joining a large firm or a small firm?

What advice would you give someone in my shoes?

I'm really interested in your opinions.  Thanks 

Comments (8)

Jen Hudson
Windermere Real Estate/M2, LLC - Stanwood, WA
Stanwood, Camano & Arlington, WA
Kevin, I recently posted this same question and got a lot of great responses.  For me, it comes down to what my needs are.  If most of your business is SOI and referrals, hey strike out on your own!  If you are still needing and wanting the office calls, then an existing (probably large) firm is more the way to go.  Of course, you also have to take into account the splits & expenses you'll pay.  How will each firm let you run your business, advertising, etc?  And, you should take into consideration your marketplace.  Where do you want to be next year, 5 years, etc?  Good luck!
Dec 27, 2007 10:31 AM
Sean Allen
International Financing Solutions - Fort Myers, FL
International Financing Solutions

Hey Kevin, I'm not a realtor but I did stay in a Holiday Inn Express once, I wouls say it depends on your work ethic and how self sufficient you are? I went on my own a year ago in the mortgage business because I got tired of paying other people for my work when they were not supporting me much, plus I don't like haveing to follow other peoples rules. If you have the knowledge, the motivation, and the work ethics needed to succeed, then go out on your own. Unless you are getting support or leads from working for a big name company or a specific broker, you are better off on your own.

Sean Allen

Dec 27, 2007 10:32 AM
Steve Glose
Keller Williams Classic Group - Orlando, FL
TRC, CIPS, 407-616-7286, Orlando Real Estate, Orla
Well Kevin, this is a decition you need to make on your own. certainly in this market, working with a bigger firm will give you resources, training, stability, and support to get through this difficult time. However working on your own can bring you greater rewards. I like the firm aproch because I have a Broker who will handle any or all the problems that are out there. This is how I justify the commission that I pay him that take all the problems away from me.
Dec 27, 2007 10:35 AM
Dick Winefield
NH Real Estate Exchange - Nashua, NH

The answer to this is surprisingly simple when you break it down to the most fundamental levels.

First the question to ask is are you a sales person or a marketer or both.

If you are a sales oriented person then joining a large franchise or a big name in your market is advisable. They bring in the customers and you utilize your sales capabilities to close the deals, of course you work on a 50/50 or 60/40 split since they are paying the advertising to bring the customers to you.

If you are a marketing oriented person I would recomned RE/MAX or Keller Williams. You are responsible for generating your own business. You get 95 to 100% of the commission because you are paying for your advertising.

If you are both sales and advertising oriented then maybe opening your own office is the right way to go.

I consider myself strong in both but I went with RE/MAX as I can not justify the expense, hassle and liablity of opening my own office.

Dec 27, 2007 10:42 AM
Serena Brown
Taylor-Brown Real Estate - Hammond, IN
Do you feel that you can handle all the overhead involved in have your own brokerage?  If so, then it may be worth it?  Another thing to consider is the commission split.  In this market, can you afford to give 50% of your money to someone else for all the work you have done.  With that being said, it will up to you to considered all angles before you decide.
Dec 27, 2007 11:17 AM
Joseph Crespillo
Sellstate Realty First - Rocklin, CA

If you want to do your own thing without all of the overhead, check out some of the 100% shops.  Don't get fooled by the ones that say they are 100% and then charge you a fee at closing or you don't get to 100% until you reach a certain company dollar cap.  Do your homework and I am sure you will find that whatever you decide will be the right decision for you.

Dec 27, 2007 11:24 AM
Ryan Martin
Pacific Continental Realty, LLC - Bellingham, WA
Bellingham Commercial RE Broker
Kevin - I have worked in both a smaller firm and larger firm and I learned that in this case "size" is not the most important factor. If you have 5 years experience, you likely need little to no broker training. I would consider the balance of split vs support. It seems to me that most brokerages are pretty close when it comes to overall cost. Some just change you more upfront.
Dec 30, 2007 02:07 AM
Dale Chambers
Exit Realty Professionals - Portland, OR

Kevin, Ryan's advice is actually spot-on. There is a certain amount of "overhead" in every business, and in the final analysis, all of the major players are fairly close on the basics.

If you haven't looked at Exit, you should check it out. The residuals can make a significant difference.

Jan 04, 2008 05:39 PM