Question
New Texas Realtor Needs Advice from a Seasoned Realtor?
Please help! I just got my Real Estate license 2 wks ago and have signed on with a Broker who allows you to keep 100% of your commission minus a small transaction fee. Sounds great to a new Realtor who cannot pay the normal "desk fees, office fees, etc..." a well known office would charge. Unfortunately, this office offers no real hands on training or mentor programs. However, there are "classes" offered by our Association such as MLS training, ZipForm training that I can take but I need REAL hands on training as I would have if I had a Mentor. At our initial interview/meeting my Broker said if I have any questions to just ask him but I am fresh out of class (2wks) and totally on my own and pretty much nervous to go out on a call so I dont really push the business. Majority of the agents work from home, that being said I dont have the opportunity to meet much less ask someone to be my Mentor. I wonder, if this is this something I should even entertain being this is a 100% commission office? How do I over come the fear of getting a call if I have had no training (exception) to my RE Courses I took to get licensed? They dont show you how to do the job or do role playing... funny i know, but i'm pretty nervous and I know once I go on a couple of listings or showings, I'll feel comfortable, but i'm petrified of the 1st call I'll soon get. One can look at it as a "you get what you pay for" but given this is my dilemma right now, I really need some advice. If you are a experience/seasoned Realtor, please advise what to do to over come this fear before I get a call!! I would REALLY hate to seem incompetent in front of a potential client!! thanks!
3 months ago - 5 answers
Best Answer
Chosen by Asker
you are getting what you pay for from the broker, which is nothing. You fell for the 100% commission vs 50-60% from a broker that would help you learn the business. However, keep this in mind, nothing of nothing is nothing. If you don't know what you are doing and can't make a sale, then 100% commission of nothing is $0. I would recommend that you reconsider and go with a broker/office that offers hands on training. In the Washington DC/Maryland/VA area, there is Long and Foster. They require that all new agents take their 2 week (80 hour) fast track program. They then assign an agent to work with you and allow you to shadow them on appointments. If you really want to make the big bucks, you need to learn the business. Don't focus on the money today, but on education. I promise that you will make more money and faster by going this route.
3 months ago
Asker's Rating: 
Other Answers
The office you signed with was designed for experienced realtors with a following. That was mistake #1. If you had gone with one that splits the commission you would incur less monthly expenses as well as it would be in their interest to train you. I suggest you get a few friends to role play as new contacts and let you practice your skills with them. In getting listings, you need to have a strong marketing plan to show them why they should use you. As a selling agent, you need to know how to determine what the actually want ( what they tell you is not always what they really want - they don't know that, however) so as you show a few, note their likes and dislikes to get a better feel for them, then turn every negative into a positive. Do not push - no one likes a pushy sales person especially in such a large $ amount.
by knowitall- 3 months ago
This office is not a good fit for you. You should start in an office that offers training classes and has a full time office manager that you can always turn to with questions...Something like a Century 21 franchise. They typically pay for all of your expenses, except for business cards and MLS fees, and in exchange they keep 50% of your commissions. It really takes a few years to become well versed at all the different aspects of real estate sales, and then you can go to a 100% office. That's how I did it, and i now own my own company.
by LoneRanger- 3 months ago
Congratulations! Now take a deep breath. It isn't as hard or as scary as you might think. Take the ZIPForm class and the MLS training- become an active member in the MLS that you use- (great way to network and meet other realtors- you may find one that is mentor material). Real Estate is not for the weak. You have to have a pretty good sense of self-worth and confidence. Pick a neighborhood that you are very familiar with - perhaps where you live. Send out a postcard or letter with your business card- to everyone in the neighborhood (you can get everyone's name and address from the county property appraiser site) tell them about you- make it brief yet exciting. (how you are eager to earn their business) Offer CMA (comparative market analysis. Drive thru your neighborhood do not send to anyone that is listed already (ethics) Also drive the area and look for FSBO- (For Sale By Owner) Properties- contact them and offer them a free CMA so that they can see what the market is bearing for their property- It is a great way to meet potential customers and get a better handle on the area. Also join the chamber of commmerce. Keep a good data base of everyone you meet and that you send emails or letters to- this becomes your Bible of info. Your Sphere of Influence is the top twenty or so people that can help you make money. Family, Friends, Neighbors and business owners. That should get you started.... good luck!
by pink elephants- 3 months ago
It's not too late to make a change. You need to talk with Coldwell Banker, Prudential, or even ReMax (although they generally only take seasoned agents), but try them and ask about their training and mentoring programs. Yes it will cost you more, but if you don't get off to a good start, you will fail, 80% do within the first 2 years. I like Prudential, they offer a national recognition that Coldwell Banker can't offer - insurance.
by Alterfemego- 3 months ago