Negotiating for your First Real Estate Job
Even if you haven’t finished your real estate course or passed your state exam, it’s not too early to begin thinking of where you’d like to hang your license. There are a few things to keep in mind when you are deciding where it is you’d like your home for your real estate career.
Your Cut
Probably the thing that is forefront on your mind is making money. You have heard that it can take a year or more before selling real estate becomes a lucrative career for you. There are a lot of factors that go into making the most money you can from this business. As you are looking at brokers, you will want to ask what the percentage is that you earn when you sell a house. Some firms charge a rate for your office space and your percentage might be a bit higher. Others who don’t charge for space will take more from each sale. You will also want to know if the percentage stays the same all year, or that if you meet a certain goal that percentage changes.
Leads
Starting out in a real estate career can be like a dry desert. You will have to work hard to make connections and find leads for your first transactions. Seeing if a broker helps with giving you leads in the first year will help to get your business started. Will there be opportunities to work the phones and get business from cold calls? Brokers that are interested in your success will help get you a strong foundation to build your business. When you make money, they make money.
Continuing Education
Does the broker offer continuing education classes in their building? Do you get a discount? Making continuing education easier to access for their agents gives the agents more time to work on their business. You want to be sure that these opportunities are available to you.
Mentoring
Having a seasoned agent as a mentor is a non-negotiable. You will want to have some in your office that is willing to show you the ropes and that has a successful business themselves. You will want to shadow that agent for a while and see every aspect from a listing appointment to closing. There is nothing more valuable than having someone on your side when you are first starting out.
Finding a broker to hang your license has very few aspects that can be negotiated, but some have better terms than others. Once you have found the perfect place for you, you will have the support to grow a great business.
