Selecting A Broker
The hardest part of selecting a Broker is comparing the compensation, services and support each offer. With so many business models in the Real Estate industry it’s sometimes hard to compare apples to apples. An interview with the Broker equipped with a series of good questions will help you make the best decision on what is right for you. Some suggested questions to ask are:
- What type of training do you provide new associates?
- Is training live or online? Is it Local?
- Who would be my contact person for training, support and questions?
- What is the availability of that person? Do they also compete in sales?
- What services are provided and are there fees associated with them?
- What marketing is company paid versus associate paid?
- What technology do you offer to assist me in my business?
- What technology isn’t provided that I will need to purchase?
- How is commission structured?
- What fees are charged outside of commission?
- Do you have office meetings? If so, when and how often?
- Is there office space available? Desk, work areas, conference rooms?
- Are there any company leads and how are they distributed?
- Is there floor duty? If so, what are the requirements or obligations?
- Are signs and lockboxes company or associate paid?
One of the biggest mistakes new associates make is asking about commission split and nothing else. True compensation is not just the commission split, it is the combination of the split with all of the other services, marketing and tools provided. Things that you will pay for either inside, or outside of the commission split. Ask the right questions and make an intelligent decision to begin your career.