Dynasty Online Real Estate Agent Career Tips – Finding A Job
If you are looking for a great real estate employment opportunity in today’s jobs market it requires substantially more than a great resume and impeccable credentials. You should have a plan how you will find a perfect realtor career choice and organize a checklist of what you want from your your realtorwhat you would like to see in your broker. Despite the real estate market conditions most of the brokerages are hiring agents which is superb news forpeople who are looking for real estate jobs.
Speaking of employment, real estate is the only industry where you are able finding a job within one hour. As real estate agent you know that your paycheck is directly related to your commission structure. That’s why you should compare how much money you can make with your a new realtor and how your employer can help you to make more money and accelerate your career.
You need to have real estate agent’s license to be employed as real estate agent. This info can be obtained from your State’s Realtor Association. Sometimes brokers will offer to sponsor your realtor exam but that often results with low commission structure and that will reduce your income for the first year of your career.
Make Your Custom List Of Potential Employers:
Use Internet to look at realtors in your area Using the Internet check out realtors in your local area. Check if their websites look reputable and compile a list of companies which you want to contact. The list should be about 15-20 entrees if you live in the metropolitan area and take notes on what appeals to you using information you get from the Internet. Compare your notes and make a top ten list of employers you you would like to approach first.
Save time by calling them first and find out their employment terms. When you talk to them consider their office policies, the amount commissions they pay, what kind of support they provide and how they take care of their agents. You can talk to an administrative assistant but you are better off talking to a broker directly because this he or she may be your future boss. If the person is occupied, set up a phone conversation or find out some of the basic details from the administrative staff for now.
What You Should Know Before Applying For A Job
Find out how long they have been in business. This is important. If you just beginning your career in real estate you want to work with an experienced broker who can teach you the basics of real estate. The importance of training for beginners is critical.
Find out how their compensation plan works. Sometimes brokers pay 50% commissions to beginner agents, other realtors are willing to pay 70% and some 100%. If you are content paying half of your earnings to your broker, ensure that you are getting adequate benefits.
What kind of benefits should you expect from your realtor? First of all, a prompt broker support. You should expect a timely support from your broker. That means that broker’s phone line has to be open for you during working hours. Some brokers offer extended broker support extending beyond 9 to 5. This is critical because in real estate when in the field you may need to provide your clients with accurate information timely. If you can’t answer questions of your clients you are at risk of looking inexperienced and poorly trained. Knowledgeable agents tend to generate referrals.
Some real estate brokers offer real estate agents valuable tools such as property search, transaction coordination and guidance through the closing process. Some realtors have internal lending brokers and that is extremely helpful to real estate agents. It allows to quickly identify whether the buyer is qualified for a property and can offer additional income to agents if their clients will decide to use internal broker’s funding source.
There are brokers who offer leads to their agents. In that case, please find out what are the commissions splits on the sales generated from these leads. A few brokers offer online lead generation tools at very low cost to agents.
Whatever real estate agents assistance package is offered by the broker to real estate agents before you decide to jump on the band wagon and have access to all the bells and whistles, ask yourself a question if you are going to employ them and how often. Realtor can provide many attractive tools justifying their monthly fees and commission structure but prior to joining make an effort discover the true value of the offered services.
What are monthly broker fees? How much do you have to pay your broker monthly? What are the fees per transactions? How about insurance costs? This information is important. Since the home prices fell so did realtor’s commissions. Make a calculation of what realistically what your net will be after sharing your commissions with your broker.
Once you have made 10 – 14 phone calls, compare your notes. Don’t act on the impulse. You are in a very fortunate position where you can choose your boss, most people don’t majority of job seekers don’t have this opportunity. Use this opportunity wisely.
You can make a few follow up calls with employers you liked asking additional questions. If you prefer a particular realtor but they are not hiring, you may propose working from your own home which should save you money on broker fees.
Follow these tips and call us if you would like to get the best support and a great 100% commission split.
2 Comments
Sumana · May 11, 2012 at 8:33 pm
Yes, they do. I am more in a supportive role in a major cmiaercoml real estate firm for a team that sells shopping centers. I have been doing this for 12 years now. I do have my real estate license and all of that, but have not moved up to a sales postion because of the time it takes. At our company it is very similar to a law firm. Like in a law firm when you are an associate you are there until 8 every night and on weekends, you practically pee in your trash can, and you live on fruit roll ups the secretaries throw at you. Then once you make partner, you hand down all of the delegatable work to the associates, and you go to Bermuda for 3 weeks.The bottom line is yes, good money. yes, they work a lot. But by the time you are 40 the worst part of it is over and you should be set if you do it right. Bottom line is it is not a get rich quick career.
Karen · October 9, 2012 at 6:43 am
Typically you can net six figures wihtin three years of starting in the business. Some of the larger firms allow you the opportunity to work on a team with senior brokers who may pay you a nominal salary for a year or two ($ 25,000/annum-$ 45,000/annum) or allow you a monthly draw to be reimbursed to the firm by your future commissions. You need to understand the commission split structure with the firm you are working for and what it covers (desk cost, etc.). Many of the larger firms take a larger share of your commissions but have lots of resources and salaried staff in marketing, research, etc that smaller firms offering higher splits don’t. You also need to understand if you will be an independent contractor or an employee. Many smaller firms do not offer benefits (i.e. medical, 401k options, etc.) while some of the larger firms do. Regardless of where you land, your first couple of years will most likely be spent cold calling tenants and landlords and trying to gain experience by working smaller deals.
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