Questions For Agents

By
Real Estate Agent with RE/MAX Results

I am working on a recruiting project right now and find it interesting the number of different real estate models that have become successful over the years.  It seems that in todays market agents are just looking for the next highest commission split and have no concern for training and support services.  Maybe I am wrong??? 

I was hoping some of you could help me answer some important questions when it comes to a career in real estate.

 

  1. As a real estate professional what do you look for in a real estate company when deciding where to hang your license?
  2. Are you willing to sacrifice high commission splits for better training and support or do you just look for the best split out there?
  3. Is a professional office space important to you or is working from your home office okay?
  4. How much do you look to your Broker for assistance?
  5. Do you depend on company advertising or find that marketing yourself or your team is more effective?
  6. How important is the reputation of the company and does it turn you off if the company has a bunch of part timers working there?

 

I am looking for some comments from new agents, experienced agents and Brokers. 

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Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~ yesmyrealtor@gmail.com
I still think support is still important but split is equally important.  Especially for low producing agents.
Feb 27, 2008 12:37 AM #1
Rainmaker
53,133
Christina Moock
Cutler Real Estate - Canton, OH
REALTOR - Cutler Real Estate

1.  Quality agents and support staff.  A fun environment.  I don't want to be uptight when I am in the office.  Training is a plus.  My company offers free continuing ed classes.  Plus I think we might even have the 10 hours of post licensing classes for free. 

2.  I've only been selling for 2 years now.  Just before I got my license things were changing with the commission at my broker.  Our commission schedules have been totally revamped.  I admit the opportunity of the higher split dangling there does keep me staying on.  I had a manager from another office trying to recruit me, but their commission split just didn't compare.  Of course the only way to achieve the higher split is if I achieve my break-even point and that hasn't happened yet.

3.  I work from both the office and home.  I do most of my work on the computer at home, listings, pictures, blogging etc. because the computers at the office aren't the greatest and are kind of slow.  Plus, there sometimes seems to be a shortage of computers at the office depending on how many agents are in.

4.  A LOT!  I'm new so I don't know everything.  We have support staff also to enter our listings and handle our closings and schedule showings on our listings.

5.  Not sure.  Some of the advertising the company pays for, other things I pay for.  Some agents, depending on what commission plan they are on pay for all their advertising.

6.  Company reputation is very important!  If i'm calling fsbo's and I say I'm from joe schmoe realty they won't know who I am, or care.  When I say I'm from my company they immediately see a benefit as we have signs all over town and are very well known.

Feb 27, 2008 12:49 AM #2
Rainmaker
1,391,477
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Wade, my answers to your questions are from a Broker's perspective;.

  1. I would hope you would look for a company that has a good training program and if you are new a mentor's program. A company that can help you become productive in a limited period of time so you can start earning.
  2. Looking for the best commission split out there doesn't guarantee you will become a success in this business. If you find a company that pays an 80% commission and you don't do anything what good is it? 80% of nothing is nothing. Learn the business and the higher commission splits will come. I often wonder why new agents should expect an 80% commission when they don't know anything. I don't think a Fortune 500 company would hire someone right out of college and pay them a $200,000 per year salary until they proved themselves over a period of time.
  3. This is a decision based on the individual. Some people like the atmosphere of an office and some people like working from home. It depends on the individual.
  4. The Broker is an important asset who should be available to help and give support to the agent. The Broker is responsible for everyone within their company.
  5. Both types of advertising is beneficial. Institutional advertising or individual marketing makes the phone ring. Making the phone ring brings in business.
  6. Company reputation is important. However, it doesn't make any difference whether the company is a large franchise or a small independent company. The bottom line is where does the agent feel comfortable and the environment in which they like to work. Why should part timers turn an agent off. If you think it is because they are taking your business away, think again. You probably would not get their business anyway. This is a highly competitive business. The competition should motivate an agent to work harder.

WIIFM works in both directions. During an interview, I am always looking for what an agent can bring to my company. Does the agent have integrity, are they loyal, are they going to be productive, or are they just looking for a high commission split.

Feb 27, 2008 01:32 AM #3
Rainer
545
Dan Kavanaugh
Tower Real Estate - Nisswa, MN

Wade, I think my way of thinking has changed very drastically in the last fews months.

I am a part owner in a real estate company that had nothing to offer agents but hight splits.  Our thought was that if we could have the agents that did't need much for tools and were on high splits we would have an office full of high end producers. Know that we are in a tight market I have found out that everyone can use help and if we can not give it to them we may loose them fast. I have been made a true believer in that there is a better way to run a real estate company and for that I am thankful.

Feb 28, 2008 07:28 AM #4
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Wade Hanson

Luxury Broker
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