You're a New Real Estate Agent: Picking a Broker to Work With

Getting your license to sell real estate can feel exhilarating after studying for long hours and prepping for various state required exams. Depending on your state's individual laws, you will most likely have to work under an already established real estate brokerage. Hopefully, you've been researching the different real estate companies in your area that may accept you as a new real estate agent. If you haven't, here's a list of items you can use to double check to see if the real estate company will be a good fit to help you grow your new real estate career.

Some well known real estate companies are: John L. Scott, Century 21, Re/Max, Exit Reality, Zip Reality and Keller Williams. Each community also has more privately run real estate brokerages that may offer similar or better advantages compared to the larger named brands. Do not discount the smaller real estate brokerages in your area when considering where to hang your new real estate license.

Commissions & Fees
Keep track of all commission tables and commission structures the real estate company presents to you. Note the percentages, including how and when you receive your share of each sale. Every real estate company is different and many will try to capitalize on the competitor's pay structures. For example, some will charge you a straight advertising percentage fee off each sale rather than a yearly lump sum shared by all the agents in the brokerage. This can add up over time. Some larger places have more fees that pay for other overhead expenses shared by agents across the nation. Every fee you pay or that is removed from your commission means less commission. Usually these brokerages try to compensate their agents by offering more time to answer the office phone in an effort to get new customers, also called floor time, or may offer to pay for business cards.

Career Advancement
Your sales ability and the tools your new brokerage may provide you with will either help or hinder the growth of your new real estate career. Some brokerages will offer structured in-house classes on sales, lead generation and general business practices. Others will pair you with another agent in the firm to help you "learn the ropes," for a limited time to help you get your feet wet. Still, some may offer only an in-house library full of sales advice, books written by famous real estate agents, etc... and just expect you to you learn at your own pace.

Perks
The brokerages that are "hiring" new agents may offer certain perks in addition to their regular recruitment packages. These could include quarterly's bonuses, the opportunity to win a vehicle or yearly profit sharing of amongst the agents.

You have to gather your information, assess the direction you want to go with your real estate career and decide which real estate brokerage will help you get there. Always go with your gut instinct. If you feel in the course of your research and interviews with various real estate brokerages that a certain broker is only out to use you to make money off you or gives you conflicting information that you're able to verify, or says or does anything else that gives you "that feeling," or otherwise makes you hesitate, do not sign up with that real estate broker.