Why I took on a partner

By
Real Estate Agent with Gold Key Real Estate

Today Quin White, a new agent,  asked about being approached by an experienced agent.   There are a lot of great ideas and questions for her to ask if you follow the link.

 

Now I have been in the business since 2006.  I cut my teeth on the crisis.  I don't quite earn as much as I would like but I have been pretty consistent.  There are times that I feel that I am a Debbie on a hamster wheel....

 

A couple of years ago a friend asked me to mentor her and she would bring me in on some of the deals.  What it really meant was me to be paid not so well and writing all the contracts and making sure there were no blunders.  The real problem was that my friend had a full time job and the hours she needed me were hours I was no as alert as I would like.   When we listed we split 50/50 but when she had a buyer I only had 10%.  Sometimes I had a huge amount of work to do.  As my friend became more experienced she was better at what she needed to do.   I did not mind mentoring her but the last deal was a little hard.

In the end everything worked out well but there were tense moments when the home didn't appraise and things like that.  In the end we are still friends but we probably will not work together for a long while.  For family reasons it is important that our friendship doesn't change.

 

Meanwhile my first real estate client, handyman and friend got his license.   He went to a big brokerage at first but felt lost in the crowd.  I brought him to Gold Key Real Estate as my partner.  We share the same values and have been working together on property management since 2008.   I am hoping that by working together we can get 3 times the work done.   I warned him when we started that I don't really earn enough for myself so we have to figure out how to work better. 

Next wee we will list our first home together.  We have been fixing it up for a few weeks.  I think it will go quickly.   I bring him to my listing appointment and introduce him.  I am actually doing a bit better at the appointments for having a partner.  

Some of why I asked him is that I thought it would be fun not be going solo anymore.   I also want my friend to transition from what he does to being a successful agent.   If we are lucky we will be able to buy a few homes and fix them up and flip them.    We have the experience to do that.

Those are reasons I took on a partner.

Posted by

  Debbie Holmes

Gold Key Real Estate     Company logo

(208)761-2551 Email: d5holmes@msn.com

To search Boise Homes visit my website

 

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Rainmaker
206,170
Sophia Lin
Intero Real Estate Services - Sunnyvale, CA
Sunnyvale CA Real Estate Specialist

Hi Debbie, I think partnerships can work for those that are on the same page with the same values and ethics.  Communication with each other would be the glue that will keep it successful :)

Jan 18, 2015 02:42 AM #1
Rainmaker
735,715
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Debbie-The synergies of a partnership can indeed benefit the both of you and your partner greater than the total some of working apart. I absolutely believe in teams and partnerships. I have benefited both strategically and in the flexibility and will continue on.

Jan 18, 2015 02:56 AM #2
Rainer
79,943
RVA HomePRO Michael Hottman
RVA HomePRO Realtor with Keller Williams serving Hanover, Henrico, Chesterfiled and Richmond, Virginia - Glen Allen, VA
Helping you achieve goals in life & real estate

Sometimes team work can  be the best thing. You can really compliment the other person and make a bugger difference than on your own.

Jan 18, 2015 10:57 AM #3
Rainmaker
687,456
Michael Dagner
Brokers Guild Classic - Denver, CO
Your Denver Homes Realty Expert

Hi Debbie, you obviously made the right decision bringing on the partner.  So many opportunities to do much more.  Best to you!

Jan 18, 2015 12:21 PM #4
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Rainmaker
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Debbie Holmes

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