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20 Questions to Ask When Choosing a Real Estate Broker

20 Questions to Ask When Choosing a Real Estate Broker

Choosing a Real Estate Broker to Work For :: Advice for Newly Licensed Agents The first step to your successful career in real estate is choosing the right real estate broker to work for… and knowing what questions to ask. There are wide differences among real estate brokerages, both in what they will offer you as well as the commission splits, expectations and culture. Many new real estate agents base their decision on the best commission split and that usually isn’t the best route, especially when you are new to the industry. We highly recommend that you meet with at least three different brokerages — and do your research on each one beforehand (see Researching the Best Real Estate Brokers). Once you find the three (or four) that look the most appealing to you, schedule time to meet and ask the following questions: FINANCIAL 1) What are your commission splits? (i.e. does the broker get 40% and you take 60% of the commission earned) 2) Are there any franchise fees? Many large real estate brokerages charge a 3% to 8% “franchise fee” on top of the commission split above, so using the example above, the broker would receive 40%, the franchise fee would be 5% and you would receive 55%). 3) Do you offer a commission cap? A commission cap is the maximum amount of commission that the brokerage will keep each year. For example, if the “cap” is $20,000 and you generate $200,000 in gross commission, you will net $180,000. If an agent cap is NOT offered and you are on a 60 / 40 commission split, then $80,000 would go to the broker and you would...
Your First Month as a Real Estate Agent

Your First Month as a Real Estate Agent

30 Things to Do in Your First Month as a Real Estate Agent Are you a newly licensed real estate agent?  If you’re fresh out of real estate school, you are probably thrilled that you passed the test and found a great broker…. but have no idea what to do next!   Real estate schools do not prepare you for what it takes to become a successful REALTOR, so your first month as a real estate agent is often overwhelming.  Below you will find tips to help you put a plan in place, so you have all the tools, knowledge and confidence needed to get launch a successful new career in real estate!   Get Organized 1)  Order business cards – a basic card is fine in the beginning, you can always order more later with your website and branding 2)  Purchase your eKey to order to access  and show houses 3)  Get a professional headshot  4)  Write a quick bio – even though you don’t have any experience (yet), share your background, values and let readers know why they would benefit and enjoy working with you 5)  Gather names, addresses and emails of everyone you know (this is your new database or sphere of influence)   Let People Know About Your New Real Estate Career 6)  Create a short letter and mail to your database to let them know that you’re now in real estate, loving it and are here to assist them – and anyone they know 7)  Create a MailChimp.com eNewsletter account (it’s free!) and then add all the names and emails from your new database so that you can send them...
Top Atlanta Real Estate Schools

Top Atlanta Real Estate Schools

Thinking about getting your real estate license?  Excellent idea! The Atlanta real estate market is very strong and many people who get their real estate license have homes under contract within the first month or two.  If you are researching top Atlanta real estate schools online, there are quite a few, so we wanted to help you narrow down the list with only the most popular.   Georgia Real Estate School (Georgia MLS) Both online and in person Salesperson Pre-license classes   Barney Fletcher Real Estate Schools Both online and class-based pre-license classes for real estate   Georgia Institute of Real Estate Training (GIRE) Offers both online and in person real estate courses   Career Web School Online real estate license courses only   There are quite a few real estate schools in Metro Atlanta, but before signing up for your class, make sure that the school is approved by the Georgia Real Estate Commission.   Also, a few things to consider…. the online pre-license real estate courses are great for those who have busy schedules and want the convenience of doing it at home.  If you do take the online version, make sure you sign up for an in-person weekend cram course before taking the Georgia state real estate exam.   We’ve received lots of great feedback from the Barney Fletcher School’s cram course — they offer lots of test taking tips, sample tests and usually have some of the best real estate instructors walking you through the most important topics that are included on the Georgia real estate exam.   . ::::::::::: Getting your real estate license...
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