Here are some questions you should ask the broker:
1. How long has the broker been in the real estate business?
2. Is there a company policy and procedure’s manual that is available for you to read?
3. What new-agent training is available?
4. Is there on-going training after the initial program?
5. Is mentoring/coaching available? If so, is there a cost?
6. Are there monthly fees for desk and services?
7. What are the costs of color copies, telephone use, presentations, and support services available?
8. What technologies does the office have available and at what cost?
9. Who pays for letter head, stationary, signage?
10. What is the company's Web presence: company e-mail, personal Websites? Cost?
11. Voicemail, long-distance calling, call forwarding etc…? Who pays and what are the costs?
12. Does the office provide: connection for PCs, terminals, printers, copiers?
13. What are the commission splits?
14. What is the basis for a change in the commission split?
15. Are marketing costs allocated as the commission split?
16. When do you get your commission check after settlement?
17. Does the broker charge transaction fees to agents per deal side? What are they?
18. What are the yearly costs to include MLS, Association Dues, Errors & Omissions, etc.?
19. How many agents in company? Per office?
20. How many listings are taken each month? How many sales a month?
21. What is the broker's market penetration or saturation?
22. What marketing does the broker's company do? Where can you see it?
23. Are there restricted farming areas?
24. Does the broker have affiliated arrangements with lenders, title companies, inspectors, etc?
25. Does the office provide: desk, shared desk, cubicle or office space?
26. Are you required to do desk duty, or answer phones?
27. Are office meetings, caravans held? How often? And are they mandatory?
28. What is the company policy on: assistants, advertising?
There’s more to success than the commission split. The right broker, in the right location, with the training, tools, resources, attitude, and know-how and you: Now, that’s the formula for your success! |