this one you get free training and a high split on commissions and one on one treatment. no fees, work out of your home etc. http://www.HomebuyersHope.com

Are you in California? If you are you may want to learn about Connect Realty which is a model similar to Keller Williams, but much smarter. The commission split is simple 70% as long as you need a mentor and 80% after that. No other fees except E & O. You need to read the fine print because the Big Companies give the same splits I described EXCEPT they charge a desk fee, transaction coordinator fee, marketing fee, tech fee, and the list goes on. Connect Realty is recruiting new agents old agents and brokers and bringing in technology to bring on 80 different web companies to partner with us. We are web based and making new agents who embrace technology advances such as email over cell, text messaging clients, and uploading files over to the broker for our commission checks which are .... wired to our accounts within 24 hours of being recieved by the broker. Connect Realty is the rising star company which has recruited an unheard of 1600 agents in the last 9 months and most of those are in california.

My suggestion is that you interview several brokerages and see where you feel most comfortable. The large national firms may or may not be the best fit for you. I prefer the small neighborhood firms- but the amount of training and resources my be limited.

Many agencies here in Florida are offering HUGE splits- 90/10 in the agents favor! Most of the national firms have a tiered commission structure; based on volume.

The market is great to be coming into- you should learn the way things work TODAY as opposed to the way it was done when I first started.

Call me I will teach you how to help people and make money http://www.HomebuyersHope.com

Joshua -

Another unbiased opinion on both sides selecting a brokerage. With Keller Williams, there are 675 offices throughout the US and Canada that you can use everyday of the week without charge. You just go to any office, show your business card, the Receptionist will look you up on the company directory and show you to the workroom or conference room so you can work. As I said previously, I am affiliated with KW in Houston Texas but live and work mostly in South Orange County, CA where I work in a small boutique office. If I need to work on a transaction for one of my Houston KW Clients, I can (and have) used many KW offices in seevral cities throughout the system. If you travel beyond California - this is an awesome feature - Go on vacation to Chicago, Miami, New Orleans, Boston, NYC, anywhere and there will be a KW office waiting for you to use.

As for working with KW agents, they are the best! Everyone treats each other inside and outside of KW with great dignity and respect - everyday - all day - in everyway. When you speak with a Team Leader at KW, ask and learn about the "WI4C2TS". KW has also launched a Luxury Home Division and is putting a lot of time and effort into expanding it.

On the flip side, KW does not have the market share as some other localized brokerages in OC. KW does very little advertising except on an office-by-office basis. Advertising is left to the agents to handle for themselves but you have many tools available to be successful.

The upside is, your commission cap and franchise royalty cap are low and, within 3 or 4 transactions you will be earning 100% commission and pay NO further franchise fees fo rthe remainder of your anniversary year.

You will get many responses from KW agents as anyone who joins KW needs to name a "sponsor". That sponsor and their sponsor (up the line 7 levels) all receive profit sharing based upon your sales. It DOES NOT comes from your commissions but from the owner's profit. Likewise if you joined KW and brought others along they could name you as their sponsor and you would receive profit sharing too.

Good luck in your search. Ask lots of questions, Make your decision wisely. Find the company that works best for what you want.

Cheers to you,

Thom Colby
Realtor
Southern California & Houston, TX
2008 Chair, Pacific West AOR MLS Committe
2008 Member SoCal MLS Board of Directors
2008 Member SoCal MLS Steering Committee
2009 Member-elect, Pacific West AOR Board of Directors
2009 Member-elect SoCal MLS Board of Directors

I agree with Thom Colby along with having a mentor working along with you on a day to day basis. You might want to split part of your commission for their help if required but it will be well worth it because a lot of time and expense will be saved in learning the business. Peter Banyan

Hi Joshua,

I recommend First Team Real Estate (First Team Estates for high end properties). What I love about this company is that you can use any of the First Team offices for free. If you have a client in Fullerton, you can meet them there. If you want to sell a home in Aliso Viejo, you can meet your client there, Newport Beach, Laguna, Palm Springs and more... We have 38 offices and you can walk into any of them and utilize the computers, phones, faxes, conference rooms, whatever!

We offer superior training not only at the start, but throughout your time with First Team. First Team sells more homes than any of the other companies in our area. (We sell 10 out of every 100 homes sold.)

The offices are friendly and encourage sharing and teamwork. It's a great environment!

But enough about what the company can offer you. I stay with First Team because they offer my selling clients the best marketing in the industry, hands down. Take a look at your Sunday OC Register or LA Times and notice who is there, but more importantly who is not... It's the most read paper of the week and no one is there 52 weeks a year, except for First Team. (We also regularly advertise in over 48 other publications .)

We have a stronger web presence than the other companies in the area as well. Take a look at my blogsite, I will put it in the Web Reference below and click on the tab that says "Selling in the OC". Also visit http://www.FirstTeam.com and http://www.LuxuryPortfolio.com.

Let me know if you need any other info... If you decide to try out First Team, make sure to give them my name for referring you. If you do, a nice lunch is on me!

I would hands down be honored to talk to you about Keller Williams Realty. Send me an email at jencarstensen@kw.com. How would it feel to work for a real estate company that actually gives you the tools and systems for FREE to learn the business? Or creates an atmosphere whereby agents help agents, because we all have an interest in each other's success? I've worked for other RE companies, and I can promise you this, you will not find a more enjoyable, educational, supportive, fun environment to grow your business...but there's so much more to share! :)
Hopefully we can chat soon!
Jen
KW - Memphis

Hello Joshua,

My name is Maria Kelly and I started in real estate January 2008. I have a great list of questions a former RE instructor gave to me to ask prospective brokers. Email me at maria@mariakellyrealestate.com if you'd like a copy.

After researching both small local and major brokers, I decided to join Keller Williams and am very pleased with my decision. The main Keller Williams website states "Keller Williams Realty as an industry innovator and leader: Culture, Education, Profit Share and Technology. We are a company built and shaped by talented, driven real estate professionals who know the value of having a great career, accomplished colleagues, work-life balance and a reputation for being the best in the business. We focus on helping associates realize their fullest potential. You will find opportunities for growth, support for achieving your objectives and a true sense of family and belonging."

From my experience, the above paragraph is 100% accurate. During the 9 months I have been with the company I have recieved training, support and clear direction from my peers on how to do my business at the highest level.

Good luck, it is an EXCITING time to be in real estate!

Cheers,
Maria

Joshua,

Congratulations on taking the initial steps to explore a career in Real Estate. Both Bruce and Tisza offered terrific perspectives and items to consider when choosing a Brokerage.

Some additional factors to ask a potential Broker / Manager about is;

1) Does their office have "Minimum Production Requirements" in order to continue to affiliate with them
2) Do they have technology requirements to connect your laptop / PC and is there a cost
3) Does the office have a "duty desk" / "up-desk" where calls come into from For Sale signs and how do you get scheduled for time on that desk - is it based on production, seniority, equal rotation?
4) Does the office have "Protected Farm Areas" which means the area you may want to work, may already be taken by someone else in the office.
5) How much is the E&O Insurance and HOW IS IT CHARGED to you; per transaction, per year, per month? What is the E&O Deductible and how is that split if unfortunately a claim has to be made.
6) What are your other office costs going to be such as per copy, per print, or monthly office advertising charges?
7) Is there any "per transaction" charges?
8) How much will your For Sale / Open House signs and business cards cost? What are the standards for these items and do you have to order from specific vendors?
9) What's your commission split? How does it increase for you?
10) Does the Brokerage have an annual commission "cap" - meaning, do you start earning 100% of the commission once the brokerage has received a certain amount.
11) What's their Francise Royalty Fee (if they are a franchise such as CB, Pru, KW, C21, ReMax, etc.) and is there an annual "cap" on the ROYALTY too.

I can tell you that KW does have both annual Commission and Royalty caps - they vary by office as determined when the office was first opened. Sometimes they change up or down but not typically.

When I was looking for a company to join (after 30 years in the corporate world) I did just what Bruce said - I intereviewed with a bunch of the best in the area, built a spreadsheet, analyzed the data, and mmade a decision.

When driving around the area you want to work - look and see who has the most for sale signs - they will likely have the most penetration of the area. Listings bring buyers.

LAST AND MOST IMPORTANT -
1) Is the Broker / Manager on-site and available / accessible when needed, and
2) Does the Broker / Manager COMPETE with the agents for business.

My belief is that in the most successful Real Estate Brokerages, the Broker does not compete with the agents and only manages and owns the office.

In the spirit of full Disclosure, I am affiliated with a small independent brokerage in California and with Keller Williams in Houston, TX

Best of luck and please ask any questions,

Cheers to you,

Thom Colby
Realtor
Southern California & Houston, TX
2008 Chair, Pacific West AOR MLS Committe
2008 Member SoCal MLS Board of Directors
2008 Member SoCal MLS Steering Committee
2009 Member-elect, Pacific West AOR Board of Directors
2009 Member-elect SoCal MLS Board of Directors

In the Portland, Oregon area, there is a Fantastic company by the name of Portland Metro Realtors. I am a broker and recruiter for this company. Considering our current market conditions, Brokers are looking for companies that do not charge high fees for simply working for them. Without going into elaborate details here, I feel that Our Company offers the most competitive program for any Broker, whether they be a veteran or a newly licensed Broker. If you are currently a Broker in the Portland area, you owe it to yourself to listen to our offer. It just doesn't get any better than this! Go ahead.....make the call. You will really be pleased you did.

Sincerely,
Cindy Greer~Broker
Portland Metro Realtors
503-754-3962

Hi Joshua,

The gentleman below gave some great advice about interviewing your potential companies. To that I would add that you also need to see where you will "click". Each individual office will have a different feel and personality depending upon who works there, so finding an office where you feel comfortable is as important as all the other criteria you will be considering when making your choice.

Another thing to remember is that larger companies tend to have a greater infrastructure available to them, that does not guarantee success. What guarantees success in this or any field is how hard you are willing to work and how prepared you are willing to become to do the job. Clients may have heard of your company and a few might come to you because of the name on your door, but they will stay with you because of the name you make for yourself, as an individual and as a smart, considerate, caring and extremely well trained agent.

The firms you mentioned are all strong companies and lots of agents make very successful careers for themselves with each of them. Bear in mind that, although I can't speak for C21 or Prudential, I do know that ReMax appears to be a better choice when you have some seasoning under your belt as they tend to attract and work best for agents with all their systems in place, who don't need or want the support that a newer or emerging agent requires. Coldwell Banker also tends to have higher desk fees (These are fees that you pay monthly to have a "desk" in the office. They don't necessarily give you an actual desk, but rather, are the costs of keeping the office open including rent on the building, phones, computers, supplies, etc, divided amongst the entire agent staff. Depending upon the office, they can be substantial and they are not usually optional.)

As for finding a company with a superior training program, then you really can't beat Keller Williams. Their training classes are available to you (or anyone who wishes to take them) now, even before you get licensed and are free. You may want/need to purchase the materials to support the courses but they are cheap.

As for finding optimal commission and rewards, again I would put forward KW as a great choice where that is concerned. Be sure that when you are looking at commission structure you also take into account the cost of your Errors and Omissions insurance, Desk Fees, Marketing Fees, Transaction Coordinator costs and all of the other expenses, not the least of which is membership in your local Board of Realtors and the rental of your Supra Key. All of them add up and a higher commission sometimes isn't really higher when you deduct the expenses involved in other areas.

As for the high end neighborhood presence, yes, the company you choose may be a component but that is really work you will need to do for yourself. You can become the "It" boy of real estate in whatever market area you choose by focusing your time, attention and training in that area.

There are also a few great books that I would recommend you read while you are embarking on your journey: "The Millionaire Real Estate Agent, It's Not About The Money... It's About Being The Best That You Can Be", by Gary Keller, Dave Jenks & Jay Papasan, "SHIFT: How Top Real Estate Agents Tackle Tough Times" by Gary Keller, Dave Jenks, and Jay Papasan and "21 Things I Wish My Broker Had Told Me: Practical Advice for New Real Estate Professionals" by Frank Cook.

The first two are co-written by one of the founders of Keller Williams but they are not about that company they are about this business and the second one (Shift) is being suggested by local Real Estate Boards to agents regardless of their office affiliation. The last one was very helpful to me and many others and gives you good, solid, practical advice in a fun way.

Good luck in your future career. If you have any other questions or want additional advice feel free to get in touch and be sure to let me know when you have listings - Remember, real estate is as much about who you know as what you know.

Take care and have a wonderful day!

Tisza Major-Posner, Realtor, IVPG Realty (909) 837-8922 Tisza@HomesByTisza.com

Sure Joshua. Here are my thoughts about your questions.
SIZE: If company size and market penetration are important to you, then you should determine market share by company in your specific California market. Usually, this information is tabulated by the larger brokerages for all other competitors. They use MLS data. Check with the MLS, the various brokerages, etc. What you get from each MIGHT be a little slanted in their behalf, but collectively, the info might tell a clearer story – to you.
COMMISSIONS, & EXPENSES: When I left the corporate world after 34 years and months later decide to give real estate a try, I frankly had no idea what the answers were to the question you now ask. But, I made a list of all the offices within a 15 mile radius of where I lived (close to 30). I called each (before I got my license) and arranged a meeting at the ones that seemed to have their act together (14). I called it “an interview”. And, I interviewed each office’s Brokers over a week’s period. I wanted to hear what they had to say about your questions and many more then what you have listed. THAT was an eye opener. So, I learned how commission’s formulas worked and the difference between a “desk fee” office and an “income distribution” office. What were charged expenses at each and which were included services? If you are running on a tight budget, a desk fee office could eat your lunch.
TRAINING and MARKETING SUPPORT: There is a direct relation between the availability of “higher level” office equipment (photo copiers, computers), staff to do the job, more education opportunities, and more support AND the word “OVERHEAD”. What it cost to do business. The higher the overhead, the more that the agents have to produce and pay the broker in order to cover their cost of operations. Think about it. Say it again. The higher the overhead (cost of running the operation), the more the agents have to earn and split with the broker for the broker to make a profit.
Ah, but there is another issue. Who is running the store? Who is the boss (Broker)? What is their experience in running a business? Are they respected? Do they have a good attitude? The BOSS can make a tremendous difference in how a specific office runs (its turnover of staff, quality of equipment, training, etc). A great real estate company can have some BAD brokers (in terms of management ability) at some branches that can make that specific office a bad decision. Oh, and do you bond with the BROKER? What do others say? It’s all about gathering knowledge -- to help you to make a better decision.
I work the LUXURY MARKET. Seems like the perfect place to focus your energies. But, sales volumes are less, time on the market is more, people are more opinionated, the level of property sophistication is higher—thus your knowledge of real estate must be great. AND the HIGH END moves slower during a down market then the low end. So some decisions or desires may have to be curbed until you gather the experience and knowledge of the issues that follow the industry. Real estate is NOT an easy business as it often appears. What you think today might be different than tomorrow.
To conclude, keep your eyes and ears open. Knowledge is power. You have no knowledge without engagement. Your initial impressions may turn out to be wrong or misguided, but some knowledge is better than none at all. Consider the source.