As a newly licensed real estate agent, choosing a real estate broker is an important first step in your career. In some states, you will be required to have a broker sponsor you to take your real estate exam, so it’s important to start the process of finding a broker early on.
When choosing a real estate broker, there are a few key things to keep in mind. First, consider the broker’s reputation and track record in the industry. Look for a broker who has a proven track record of success and is well-respected in the real estate community.
Next, consider the broker’s training and support for their agents. Look for a broker who offers comprehensive training and support to help you succeed in your new career. This can include things like training programs, mentoring, and other resources to help you build your skills and knowledge.
Finally, consider the broker’s commission structure and any other fees or requirements that may be associated with working for them. Make sure you understand the terms of your relationship with the broker before deciding.
Overall, the process of choosing a real estate broker can be intimidating, but by keeping these things in mind, you can find a broker who is the right fit for you and your career goals.
Questions to keep in mind when you are searching for a sponsoring broker:
- Is the reputation of the broker positive?
- What kind of real estate does the broker specialize in selling? Is it what you are interested in selling?
- In what ways do they support their real estate agents’ education and training?
- How technologically savvy is the broker?
- What commission structure do they offer?
- Do they offer other benefits such as leads and marketing materials?
Check out our extended list of questions to ask the broker before joining.
As a new real estate agent, it can be helpful to work with a broker who has experience in the region where you want to do business. A broker can serve as both a partner and a boss, providing support and guidance as you navigate the beginning of your career. In exchange for this support, brokers typically take a commission split from the properties bought or sold through their brokerage.
The commission amount for a real estate transaction is typically based on the price of the property, and brokers will calculate their cut based on a flat fee or commission split. Working with a broker can provide valuable support and access to a network of contacts, making it an important consideration as you start your career in real estate.
|Flat Fee||Commission Split|
|Many real estate brokers charge a monthly fee for their services. This fee is typically set and requires you to pay the broker a set amount each month for their support and guidance. The exact amount of the fee will vary depending on the broker and the services they offer, so it’s important to discuss this with the broker before deciding.||The exact commission split between a real estate agent and their broker will depend on the terms of their individual agreement. However, a common commission split is 70/30, where the agent keeps 70% of the commission and the broker receives 30%. This is just an example, and the exact split will depend on the specific agreement between the agent and the broker.|
Choosing the right real estate broker is important for several reasons, especially when you are just starting out in your career. In your first year as a real estate agent, you are likely to have a lot of questions, uncertainties, and experiences that will help you learn and grow.
Working with a supportive and experienced broker can help you navigate these challenges and provide valuable support and guidance as you build your career. A good broker will be there for you every step of the way, offering training, support, and access to tools and systems that can help you succeed.
Additionally, as a new agent, you may not have the funds to compete with larger brokerages when it comes to marketing and lead generation. Working with a broker can provide access to these resources and help you get your name out there in the local real estate market. Overall, choosing the right broker can be a critical factor in your success as a real estate agent.
Kickstarting Your Real Estate Agent Journey
- Agent Real Estate School offers several essential resources to aspiring Real Estate Agents, including our group study program, Real Estate Agent Bootcamp, and our fast-tracked school courses.
- Fast-Track Course: Participants in our Fast Track Course self-pace and study in their own time. They can complete all their real estate coursework online and in a matter of weeks. This package includes a live online 1-Day Prep six-hour review class led by a live instructor to prepare them for their state exam date.
- Bootcamp: Our boot camp course is designed for students who want to complete their real estate license education quickly. This in-person class will help you complete all your course work and final exams in 3 days with a live instructor. The instructor helps prepare students for the California Real Estate Exam by providing a comprehensive review of real estate principles, practice, law, key word terms, and concepts covered on the test.
- Group Study Program: Our group study courses are live online classes. Classes run on Tuesday and Thursday evenings and Saturday mornings; you only need to attend once a week so choose the time that works best for your schedule.
Take one step closer to becoming a licensed Real Estate Agent by contacting Agent Real Estate Schools at (858) 329-0999 today.