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.