Can anyone tell me which Real Estate office has the best deal for Sales Associate? Who’s best fee wise?
thaffar d asked:
I want to go back to the residential sector of Real Estate and want to know which companies offer the best rates as far as commisions and fees charged to the agent. I will be working with mostly family and not planning on doing it full time so I was looking for the cheapest office rates but still get full access.
April 9th, 2009 at 2:32 am
Baltimore real estate
Ideally you want a broker that charges you a flat fee for every transaction and no monthly charges. For example, I have an agent that works for me in San Diego and every transaction she does, I get paid $400 and she keeps the rest of her commission.
April 10th, 2009 at 8:49 am
Silver Spring real estate
Each brokerage is different, it can be a big franchise or a local mom and pop shop, but each office is independantly owned and operated, so each will have its own commissions and fees schedules.
You are going to have to ask questions, and lots of them.
Don’t stop asking at commission split and desk fees. There can be a ton of things you have to pay for besides desk fees, and if you don’t ask up front, they may not disclose all this. You may have to pay for advertising, signs, business cards, letterhead, postage, training, E&O, franchise fees, long distance phone call fees, website fees, it can go on and on.
Some brokerages are very generous on what they pay for, but your commission split will be lower. If you pay for alot to get a lousy commission split, move on.
You also will want to ask about training and mentorship. Some brokerages give you keys and a desk, expecting you to figure it out. Others have great training for newbies, and of course there is everything in between.
RE is unique in that the brokerage has very little risk in taking you on, so just about every door you enter will want you to come on board.
This is negotiable also, you don’t have to take the first offer that comes across the table. After you check out a few brokerages, you may go back to the one that interests you most and negotiate a better deal.
Good luck in your endeavors.