The Right Broker for the Right Agent

You're a newly licensed real estate agent. You aced the state exam and now it's time to join a broker and start making some money. Everybody knows that most real estate brokers take on real estate agents as independent contractors and not as employees, so it doesn't matter whom you work for, right? Wrong! Just like any new graduate looking for a job, you must choose carefully and ask as many questions as possible.

The first rule of thumb is to interview with several brokerage houses. Notice which broker has the most signage in your city; look over local real estate publications and note the brokers with a strong presence. Talking with local real estate agents about area brokers is also important research.

The job interview process is your chance to ask the broker some important questions about how they run their business. For convenience sake, we'll just assume that the broker offers the standard commission split. A key area for inquiry is training and mentorship. A solid broker should provide some level of training for new agents, as well as an experienced agent who will mentor your progress.

Although you will be in business for yourself, some offices will provide computers, software, photocopiers and other support for their agents. Ask about a broker's policy. Some firms may expect you to bring your own computer equipment and pay for all expenses yourself. Get clarity on this!

Then we arrive at advertising. Like any business owner, you will learn that advertising is an expensive part of your operation. Ask the broker if the company pays for standard agency ads or whether you have to pay for your own individual listings. Also inquire about a bulk mail permit: many firms will pay the yearly fee for you, but others won't.

In the end, it's important to remember that when you interview at a broker's office, you need to have the attitude of a cautious home buyer. Your success as a real estate agent will depend partly on the level of cooperation, support and training you receive from a broker.

You didn't cut corners when it came to researching a real estate school, so don't shortchange yourself when it's time to find your first base in this exciting industry.

Labels: Real Estate Agent, Real Estate Agent License, real estate broker

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