Important Questions the Broker Should Answer - Part 1
A successful real estate career is dependent on your desire to succeed, and your willingness to hang in there until things start to take off. Just how fast things start moving depends a lot on your work habits, but choosing the right agency can help jump-start the process.
What You Need to Know
There are many things you should know before deciding which firm to work associate yourself with.
Training
* What type of training is offered for new agents? If a broker's answer is 'none,' that agency is probably not the best place to begin a real estate career.
* Does the firm have a designated trainer, perhaps the broker or another experienced agent who acts as a mentor for new agents?
* If part of a franchise, are there local or regional training sessions for new agents? If so, who pays for the training?
* How many new agents has the firm hired during the past year? How many of those agents are still with the firm? A revolving-door of agents alerts you that something isn't quite right.
Floor Duty
Sometimes creatively called 'Opportunity Duty,' it refers to times you are scheduled to work at the real estate office.
* Are all agents scheduled for floor duty, and if so, how often?
* Are phone leads, walk-in customers, and referrals given to the agents on duty when those leads come in? If not, how are they distributed?
Advertising
Advertising is a major expense for real estate agents, so anything the agency pays for is a plus.
* Does the firm pay for the typical agency ad, where listings are showcased, or are you required to pay for the space occupied by your listings?
* Does the firm pay for any portion of personal ads? (Ads designed to promote you, not your listings.)
* What types of advertising does the firm do? For instance, newspaper, radio, television, Internet, for-sale publications, bulk mailings, chamber of commerce, and other promotions.
* Does the firm have a bulk mail permit? (The expense of a bulk mailing is typically yours, but many firms pay the yearly permit feet.)
Computer Equipment, Digital Cameras, Other Tech Gear
* Does the firm have computer equipment for all agents to use, or are you expected to bring your own to the office?
* What types of software are loaded on office computers? Are all agents allowed to use the existing software?
What You Need to Know
There are many things you should know before deciding which firm to work associate yourself with.
Training
* What type of training is offered for new agents? If a broker's answer is 'none,' that agency is probably not the best place to begin a real estate career.
* Does the firm have a designated trainer, perhaps the broker or another experienced agent who acts as a mentor for new agents?
* If part of a franchise, are there local or regional training sessions for new agents? If so, who pays for the training?
* How many new agents has the firm hired during the past year? How many of those agents are still with the firm? A revolving-door of agents alerts you that something isn't quite right.
Floor Duty
Sometimes creatively called 'Opportunity Duty,' it refers to times you are scheduled to work at the real estate office.
* Are all agents scheduled for floor duty, and if so, how often?
* Are phone leads, walk-in customers, and referrals given to the agents on duty when those leads come in? If not, how are they distributed?
Advertising
Advertising is a major expense for real estate agents, so anything the agency pays for is a plus.
* Does the firm pay for the typical agency ad, where listings are showcased, or are you required to pay for the space occupied by your listings?
* Does the firm pay for any portion of personal ads? (Ads designed to promote you, not your listings.)
* What types of advertising does the firm do? For instance, newspaper, radio, television, Internet, for-sale publications, bulk mailings, chamber of commerce, and other promotions.
* Does the firm have a bulk mail permit? (The expense of a bulk mailing is typically yours, but many firms pay the yearly permit feet.)
Computer Equipment, Digital Cameras, Other Tech Gear
* Does the firm have computer equipment for all agents to use, or are you expected to bring your own to the office?
* What types of software are loaded on office computers? Are all agents allowed to use the existing software?
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