How to choose a broker to work for as a new Realtor

Hey everybody Kartik Subramaniam over at ADHI Schools! A question that I get a lot from our students is how to choose a broker? What office to go to? Honestly real estate isn’t like any other profession. In other professions if you were trying to find a job someplace You know you wear your best suit, and you get your dad to tie your tie for you=) And you shine your shoes, and you basically go out, and hope you got the job. In real estate It’s actually a whole different set of circumstances. In most instances the broker is gonna want to hire you More than you’re gonna want to work there because most brokerages candidly Have a goal of hiring a certain number of agents every month. In fact There’s some real estate offices in LA that the broker and manager have a stated goal of hiring 10 new real estate agents per month! PER MONTH! Because they know that the turnover rate is so high in our business And why so many people fail in real estate… Probably the subject of a different video. I’ll do that later But what if you’re a new agent. How do you choose What office to work for? How do you actually choose a broker? Well…… The first thing I would say that you want to look at is training What training does the broker provide? Is there a written training calendar? You know some real estate offices will say oh, we don’t have a “training” program But you know we have an experienced agent Fred. You know Fred’s over there in the corner to answer all your questions Now Fred’s 102 years old smoking a cigarette and hasn’t sold a house since the Reagan administration And you’re relying on Fred for your whole career So that’s not the environment that you want. The environment that you want is an environment that has a written training program A calendar where you know every day what classes are gonna be taught. You know what time they’re gonna start What time they’re gonna end. Who’s teaching them? You need structure! I think as a brand new agent The second thing you’re gonna want to ask Before you go work for a company is can I talk to some of the other new agents? Can I speak to some of the hires that have been brought onto your company in the last two or three weeks or months? That really is going to give you a sense after speaking to some of those new agents as to what it’s really like to work there The brokers are gonna bring out the red carpet for you when you are a new Realtor and bring you the nice Fiji water and Once they get you to sign on the dotted line When you grab for the Fiji water they’re gonna point to a water fountain. Downstairs. In the bathroom. By the urinal. Once they get you it’s kind of a different story So you’re gonna want to talk to some of the new agents. The third thing I think that you’re gonna want to do is talk about commission splits. That’s a very very important thing You know what percentage of the Commission are you gonna take Mr. Broker/Mrs. Broker. What percentage Am I gonna get? And what am I gonna get for for paying you that 30% or 40% or 20% or whatever it is? The last thing I would ask is ask to speak to some experienced agents Talk to some agents that work in the office and have worked there for a long time a lot of the time if you go Work at a real estate office that has a super high degree of turnover that can be a red flag And that’s definitely maybe a question that you want to ask the broker Hey, you know this looks like a lot of the agents here haven’t worked here more than 60 days or 90 days Why is that? Where did everybody go? So all these are just basic and fundamental questions That you’re gonna want to ask the broker before you end up working there. One little Last tidbit I’d give you, most real estate offices these days especially in like metropolitan Areas will charge you a desk fee to work there. Whether it’s $50 a month or $100 a month or Sometimes they can be over $1,000 a month if you have a closed office So you’re gonna want to ask the broker what the fees are. You know what those fees cover And if you’re assigned to that broker for any specific length of time or any specific Contract. So if you have other questions or something doesn’t seem right or sideways about a conversation you’re having with a broker feel free to send me a message on YouTube and I’m happy to respond to it and Hopefully I can let you know if it’s if it’s legit or if it sounds a little sideways. We’ll talk to you guys soon I’d love to connect with you on Instagram. Don’t forget to hit that like button, hit that subscribe button!! I will talk to you guys on the next video. Thanks!

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