The U.S. real estate industry is hardly short of brokers nowadays. In most cases, they will get at least 30% of agent commissions to cover their operational costs and, of course, to boost their profits. If you’re an agent looking for a more financially and personally fulfilling career in the real estate industry, consider joining a firm that allows you keep most – if not all – of your commissions to yourself. Yes, there are such firms and a lot have gained and still gain from this revolutionary approach.
So how do yo work with any of these brokerages? Every firm will have its own process, but all of them will probably go by the following general steps:
Picking a Plan
First off, you will have to choose a plan that you feel is most right for you. If you’re a newbie, you should consider taking one of the least expensive options so you can save cash if you fall short of sales target.
If you’ve been selling homes for a while, a more expensive plan will give you savings on every closed transaction, allowing you to gain more overall. Sometimes, you may not find an option that actually aligns with your goals or expectations. In that case, most brokerages will encourage you to make them an offer. What this means is that you have more room to grab more gainful opportunities.
Adding Your License and Contact Information
This is going to be as simple as typing in your name as well as your professional license number. If you still don’t have a number, it’s about time you get one. It’s a very simple process, but it does need time to complete. On top of that, you have to enter your contact information, specifically your phone number and email address, so you can receive a confirmation of your acceptance. Make sure the information you supply is current so you can be contacted as soon as possible.
Answering More Questions
It is a given that the brokerage you’re applying to will want to know more about you. You will have to answer more questions and you are expected to be truthful with your answers. For instance, they may ask you about the realtor organization you are associated with. If you don’t belong to any realtor group, you can still be accepted into the brokerage but you have make a promise that you will join one in the near future. And it doesn’t matter if that brokerage is not part of the organization you plan to join or have already joined.
Mastering the Rules
Finally, you have to review the brokerage’ rules and policies and express your agreement. Once you’ve checked the “I Agree” box, you’re good to go. The next thing to do is just to wait to hear from the firm.