Unless you’re a fifth-generation real estate agent and closing escrow runs in your blood, jumping into a real estate career can be overwhelming. You’ll almost certainly need a real estate mentor, especially as you begin your career. Here are five reasons why.
#1: You can use your mentor’s experience to your advantage
When you have a mentor in your corner, you can learn from the mistakes of others. Partnering with a real estate mentor means learning from his or her past experiences—good and bad—and putting those lessons to work. Continue reading
One of the biggest choices you’ll make at the start of your real estate career is selecting a broker. And one of the biggest considerations to make when selecting that broker is how much support you want from them. An agent who comes from a family of real estate professionals may not need much real estate broker support. He or she might already have a stream of prospects, a good understanding of the business, and family support. On the other hand, a new agent with little experience and a short list of professional contacts may need real estate broker support in the form of lead generation, education resources, and advice. Continue reading
As a new real estate licensee or someone considering a career in real estate, you need to understand the basics of commission, as this is most likely how you’ll be paid. While some brokerages are moving to a more salary-based structure, the majority of today’s brokerages still operate under a commission-based system. Therefore your real estate agent salary will be based on the all-important commission split.
Commission splits in real estate
You’ll typically negotiate your commission split with your brokerage when you sign on with them. Initially, most brokerages have a standard commission split that they offer to new agents. Once you’ve got some experience under your belt, or reach a certain production threshold, your broker will usually increase your commission split. Continue reading
As a new real estate licensee, you’ll need a place to hang your hat. That’s what a brokerage is. The process of picking a broker can start early, as some states require that you be sponsored by a broker when you take your real estate exam. We’ve put together some information to help you learn how to choose a real estate broker that’s right for you.
Why it’s necessary to choose a real estate broker
Why is broker selection so important? In your first year as a real estate agent, you’ll have a ton of questions, uncertainties, and getting-your-feet-wet experiences. You’ll need to choose a real estate broker that will be there with you each step of the way. Continue reading